比特幣（BTC）價格反彈以上$ 85,000 Sparks新鮮的樂觀

經過數週的下降，比特幣最近的價格反彈超過了85,000美元，這引發了新的樂觀情緒。數字資產增長了2.7％

Bitcoin’s (BTC) recent price rebound above $85,000 has sparked fresh optimism, showing 2.7% increase in the past week. As the digital asset experiences a recovery from recent lows, crypto enthusiasts and analysts are engaging in lively discussions about whether the market is simply undergoing a correction or if the bull market is still very much alive.

比特幣（BTC）最近的價格回彈超過85,000美元，引發了新的樂觀情緒，在過去一周中增長了2.7％。隨著數字資產從最近的低點恢復，加密愛好者和分析師正在就市場是否只是在進行更正或牛市仍然很活躍的情況下進行生動的討論。

In a recent post titled “Past Bull Cycle vs. Current Market,” CryptoQuant analyst Crypto Dan offered a detailed comparison of the present Bitcoin market with past bull cycles.

加密分析師Crypto Dan在最近的一篇名為“過去的牛週期與當前市場”的帖子中，對當前的比特幣市場與過去的牛市進行了詳細的比較。

While bear markets can feel long and painful, they also offer valuable accumulation opportunities for seasoned investors.

儘管熊市會感到漫長而痛苦，但它們也為經驗豐富的投資者提供了寶貴的積累機會。

The analyst explained that previous market downturns were characterized by significant stop-loss movements, leading to prolonged sell-offs and bearish sentiment. However, in this current cycle, such drastic liquidations have been largely absent.

分析師解釋說，以前的市場下滑的特徵是嚴重的停止損失運動，導致了長時間的拋售和看跌情緒。但是，在當前週期中，這種劇烈的清算在很大程度上沒有。

Bitcoin’s Drop Within Normal Correction

比特幣在正常校正中的下降

Despite Bitcoin’s price struggles in recent weeks, Dan remains optimistic about the broader market trend.

儘管最近幾週比特幣的價格掙扎，但Dan仍然對更廣泛的市場趨勢保持樂觀。

The analyst emphasized that while fear of a bear market persists, Bitcoin’s recent drop has stayed within a standard 30% correction range. Macroeconomic factors, including inflation and interest rates, may still weigh on market sentiment, but Dan is confident that the bull market is far from over.

分析師強調，儘管對熊市的恐懼持續存在，但比特幣最近的下降仍保持在標準的30％更正範圍內。宏觀經濟因素，包括通貨膨脹和利率，可能仍然對市場情緒產生影響，但丹有信心牛市還遠遠沒有結束。

Similarly, Alex Wacy, a researcher, points out that its 23% decline is a normal market correction rather than the end of its bull cycle. In the previous cycle, BTC experienced 12 similar pullbacks before ultimately reaching its peak.

同樣，研究人員亞歷克斯·韋西（Alex Wacy）指出，其23％的下降是正常的市場糾正，而不是其牛週期的結束。在上一個週期中，BTC在最終達到頂峰之前經歷了12種類似的回調。

This current pullback follows a period of market overheating and excessive leverage, leading to a natural cooldown. However, a strong new narrative, like DeFi in 2020 or NFTs in 2021, is needed to drive renewed momentum.

當前的回調是在一段時期的市場過熱和過度槓桿作用之後，導致自然冷卻。但是，要推動更新的動力，需要一個強大的新敘事，例如2020年的Defi或2021年的NFT。

Macroeconomic conditions, including high interest rates and tight liquidity, are also impacting the market. Wacy notes that if the Federal Reserve shifts its monetary policy later this year, risk assets like BTC could see substantial gains.

宏觀經濟狀況，包括高利率和嚴格的流動性，也影響了市場。韋西指出，如果美聯儲在今年晚些時候改變其貨幣政策，那麼像BTC這樣的風險資產可能會看到可觀的收益。

Bitcoin Still in Price Discovery Phase

比特幣仍處於價格發現階段

Analysts have presented diverse perspectives on Bitcoin’s market structure and future trajectory. Swyftx lead analyst Pav Hundal emphasized stability, assuring investors that panic is unnecessary.

分析師對比特幣的市場結構和未來軌跡提出了不同的觀點。 SWYFTX首席分析師PAV Hundal強調穩定性，確保投資者恐慌是不必要的。

Concerns over US President Donald Trump’s tariffs may unsettle markets, yet economic indicators suggest positive momentum.

對美國總統唐納德·特朗普（Donald Trump）的關稅的擔憂可能會感到不安，但經濟指標表明了積極的勢頭。

Hundal added that risk assets, including BTC, typically rise when investors regain confidence. The global M2 money supply recently reached record levels, signaling potential upward movement for cryptocurrency.

Hundal補充說，包括BTC在內的風險資產通常會在投資者恢復信心時上升。全球M2貨幣供應最近達到了創紀錄的水平，標誌著加密貨幣的潛在上昇運動。

Analyst Seth reinforced this outlook by highlighting another all-time high in global liquidity, indicating favorable conditions for a Bitcoin rally.

分析師塞思（Seth）通過強調了全球流動性的另一個歷史最高水平，這表明了比特幣集會的有利條件，從而增強了這種前景。

CoinRoutes CEO Dave Weisberger noted that if BTC maintains its historical correlation with the money supply, a new all-time high could emerge within a month.

CoInroutes首席執行官Dave Weisberger指出，如果BTC保持其與貨幣供應的歷史相關性，那麼一個新的歷史最高水平就會在一個月內出現。

Meanwhile, Wacy pointed out that Bitcoin remains in price discovery, leaving room for higher targets, including $200K, in the long term.

同時，Wacy指出，比特幣仍然處於價格發現中，從長遠來看為包括20萬美元的更高目標留出了空間。

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