本月進入熊市後的壓力下，比特幣（BTC）的價格。它跌幅超過20％

本月進入熊市後，比特幣價格仍處於壓力下。從今年的最高水平起，它跌幅超過20％。

The Bitcoin (BTC) price has come under pressure in recent days as it moved into a bear market this month, plunging by over 20% from its highest level this year. The crash has led some popular analysts to shift their calls and predict it will crash further.

比特幣（BTC）的價格在本月進入熊市，從今年的最高水平下降了20％以上。撞車事故導致一些受歡迎的分析師改變了他們的呼叫，並預測它將進一步崩潰。

Still, there are a few reasons why Bitcoin price may bounce back and hit its all-time high in March.

儘管如此，還有一些原因是比特幣價格可能會反彈並在三月份達到歷史最高水平的原因。

Crypto Fear and Greed Index and Market Sentiment

加密恐懼和貪婪指數和市場情緒

The first reason why the Bitcoin price may bounce back this year is that market sentiment has worsened, pushing many investors to remain on the sidelines. The fear and greed index moved to the fear zone of 25, while the number of active Bitcoin addresses dropped in the past few days.

比特幣價格今年可能反彈的第一個原因是，市場情緒惡化，促使許多投資者留在場外。恐懼和貪婪指數轉移到了25個恐懼區，而過去幾天的主動比特幣地址數量下降。

At the same time, some analysts have become bearish. For example, Ki Young Ju, the founder of CryptoQuant, warned that the crypto bull market was now over. He expects Bitcoin to either consolidate or move lower in the next few months.

同時，一些分析師已成為看跌。例如，加密富裕的創始人Ki Young Ju警告說，加密牛市現在已經結束。他預計比特幣將在未來幾個月內合併或降低。

At face value, these actions should be bad for Bitcoin price. However, in reality, Bitcoin often moves in the opposite direction with the market sentiment. For example, the recent Bitcoin price crash happened after it moved to the greed area. Also, most altcoins dropped when the altcoin season index jumped.

從表面上看，這些動作對於比特幣價格來說應該不利。但是，實際上，比特幣經常與市場情緒相反。例如，最近的比特幣價格崩潰發生在搬到貪婪區域後。另外，當Altcoin賽季指數跳躍時，大多數Altcoins都會下降。

Further, the Mean Dollar Invested Age (MDIA) indicator has been rising, a sign that investors are not selling.

此外，平均美元投資年齡（MDIA）指標正在上升，這表明投資者沒有出售。

Bitcoin ETF Inflows Are Rising

比特幣ETF流入正在上升

The other reason Bitcoin’s price may jump to a new all-time high is that spot BTC ETFs are seeing demand. SoSoValue data shows that weekly inflows have risen to over $500 million even as the coin remained in a bear market. These funds now have over $91 billion in assets, with Blackrock’s IBIT fund having over $46.8 billion in assets.

比特幣的價格可能會躍升到新歷史最高的原因是BTC ETF看到需求。 Sosovalue數據表明，即使硬幣仍留在熊市，每周流入量已上升到超過5億美元。這些資金現在擁有超過910億美元的資產，貝萊德的IBIT基金擁有超過468億美元的資產。

The rising inflows into spot Bitcoin ETFs is a sign that US investors are upbeat about Bitcoin. The rising Coinbase Bitcoin Premium Index supports this view, as shown below.

投資比特幣ETF的上升流入表明美國投資者對比特幣很樂觀。上升的Coinbase比特幣高級指數支持此觀點，如下所示。

The third main reason why the BTC price may bounce back and hit new all-time highs this month is its technicals. The weekly chart shows that the Bitcoin price formed a cup-and-handle pattern between November 2021 and late last year. It completed the handle section in November when it went parabolic.

BTC價格可能會反彈並在本月打入新的歷史最高點的第三個主要原因是其技術。每週圖表顯示，比特幣價格在2021年11月至去年下半年之間形成了杯子和手柄。它於11月完成了拋物線詞後完成手柄部分。

The cup had a depth of 77%. Therefore, by measuring that distance from its upper side, we can estimate that the Bitcoin price target will be USD 122,420, which is about 45% above the current level.

杯子的深度為77％。因此，通過衡量與其上側的距離，我們可以估計比特幣目標目標將為122,420美元，比當前水平高約45％。

The short-term risk is when the BTC price drops and retests the upper side of the cup and handle pattern. Such price action would be bullish since it would be part of the break-and-retest pattern, a popular continuation sign.

短期風險是BTC價格下降並重新測試杯子的上側和手柄圖案。這樣的價格行動將是看好的，因為它將是重新播放模式的一部分，這是一個流行的延續標誌。