比特幣（BTC）最近的集會高於90,000美元的關鍵心理門檻。

比特幣（BTC）於3月2日上漲了10％的回收率至95,000美元以上，然後形成雙頂圖案模式約為94,200美元

Bitcoin (BTC) price slid further on March 2 after failing to sustain above the key psychological threshold of $90,000.

比特幣（BTC）的價格在3月2日不超過90,000美元的關鍵心理門檻後進一步滑行。

As institutional investors appear to be reducing their holdings in cryptocurrency markets and macroeconomic uncertainties loom, analysts are now assessing what’s next for Bitcoin and its price action in 2024.

隨著機構投資者似乎正在減少其在加密貨幣市場和宏觀經濟不確定性的持股範圍內，分析師現在正在評估比特幣的下一步及其在2024年的價格行動。

Bitcoin price drops below $90,000 amid ETF outflows and macro woes

在ETF流出和宏觀困境中，比特幣價格下跌$ 90,000

Bitcoin price slid nearly 10% to reach lows of around $81,400 on March 1 after forming a double-top chart pattern.

在形成雙頂圖案後，比特幣價格在3月1日達到$ 81,400的低點近10％。

A double-top formation occurs when an asset reaches a peak price on at least two occasions, setting up a potential reversal. In Bitcoin’s case, the crypto hit a high of $94,200 before evening out to form a double-top pattern around the daily chart.

當資產至少兩次達到峰值價格時，會發生雙頂形成。在比特幣的情況下，加密貨幣在晚上售價為94,200美元，在每日圖表周圍形成雙頂圖案。

BTC/USD, 1-day chart, double top. Source: TradingView

BTC/USD，為期1天的圖表，雙頂。資料來源：TradingView

Key factors that may be contributing to Bitcoin’s recent slump include the US spot Bitcoin exchange-traded funds (ETFs) still reporting outflows, and broader macroeconomic worries, said Ryan Lee, chief analyst at Bitget Research.

Bitget Research的首席分析師Ryan Lee說，可能導致比特幣最近低迷的關鍵因素包括仍報告流出的美國現貨比特幣交換基金（ETF），以及更廣泛的宏觀經濟憂慮。

The US spot Bitcoin ETFs are now seeing their fourth consecutive week of net negative outflows after reporting over $2.6 billion in cumulative net outflows during the last week of February, Sosovalue data shows.

Sosovalue數據顯示，美國現貨比特幣ETF現在在2月的最後一周報告了超過26億美元的累積淨流出後，連續第四周看到他們的淨負流出。

Bitcoin ETF net flows, weekly chart. Source: Sosovalue

比特幣ETF淨流，每週圖表。資料來源：Sosovalue

“The remarkable bull run in the first quarter of 2024, which saw Bitcoin rally more than 70% from its 2024 low, is likely coming to an end due to several key factors,” said Lee.

李說：“ 2024年第一季度的出色公牛奔跑，比特幣從2024年的低點拉起了70％以上，這可能會由於幾個關鍵因素而結束。”

“Firstly, the US spot Bitcoin ETFs, which played a crucial role in fueling Bitcoin’s rally, are now seeing their fourth consecutive week of net negative outflows. According to Sosovalue, the ETFs reported over $2.6 billion in cumulative net outflows during the last week of February.”

“首先，在加油比特幣集會中發揮了至關重要的作用，美國現場比特幣ETF現在連續第四周看到他們的淨負面流出。根據Sosovalue的說法，ETF在2月的最後一周報告了超過26億美元的累積淨流出。”

According to Lee, the Bitcoin ETFs had a record-high inflow of over $10 billion in January and February. However, the inflows have now reversed, which could factor into Bitcoin’s price action moving forward.

根據李的說法，比特幣ETF在一月和2月的創紀錄的100億美元超過100億美元。但是，流入現在已經逆轉了，這可能導致比特幣的價格動作向前發展。

The crypto market is also still recovering from the $1.4 billion Bybit hack, which occurred on February 21. The hack was the largest in crypto history.

加密貨幣市場也仍在2月21日發生的14億美元乘式黑客襲擊中恢復過來。該黑客是加密歷史上最大的。

Greater macroeconomic worries may also be impacting Bitcoin’s price, with rolling 12-month US consumer price index (CPI) inflation remaining elevated at 3.7% in January, higher than the 3% in December.

更大的宏觀經濟憂慮也可能會影響比特幣的價格，而1月份的12個月美國消費者價格指數（CPI）的通貨膨脹率仍高於3.7％，高於12月的3％。

Despite the slight deceleration in the rate of price increases, the sticky inflation is still a concern for the Federal Reserve, which may keep interest rates higher for longer.

儘管價格率略有下降，但粘性通貨膨脹仍然是美聯儲的關注點，這可能會使利率更長。

Furthermore, the US is planning to impose tariffs on goods from Vietnam in an effort to deter Vietnam from serving as a route for goods subject to tariffs from China to enter the US.

此外，美國正計劃對越南的商品徵收關稅，以阻止越南作為從中國征收關稅的商品途徑進入美國的途徑。

The tariffs on Vietnamese goods are set to take effect on March 26, and they will apply to a range of products, including bicycles, furniture, and vinyl flooring.

越南商品的關稅將於3月26日生效，它們將適用於一系列產品，包括自行車，家具和乙烯基地板。

The tariffs are part of a broader trade dispute between the US and Vietnam. The US has accused Vietnam of engaging in unfair trade practices, such as undervaluing its currency and setting up trade barriers against US companies.

關稅是美國和越南之間更廣泛的貿易爭端的一部分。美國指責越南從事不公平的貿易做法，例如低估了其貨幣並建立針對美國公司的貿易障礙。

Vietnam has denied these accusations and maintains that its trade practices are in accordance with international law.

越南否認了這些指控，並堅持認為其貿易慣例符合國際法。

Finally, the Chinese government has recently announced plans to phase out the production and use of single-use plastic bags by the end of 2025.

最後，中國政府最近宣布了計劃在2025年底之前逐步淘汰單利塑料袋的生產和使用。

The move is part of China’s broader efforts to reduce pollution and promote environmental sustainability.

此舉是中國為減少污染和促進環境可持續性的廣泛努力的一部分。

China is one of the world’s worst plastic polluters. Every year, the country produces millions of tons of plastic waste, much of which ends up in landfills or in the ocean.

中國是世界上最糟糕的塑料污染者之一。每年，該國都會產生數百萬噸的塑料廢物，其中大部分最終落在垃圾填埋場或海洋中。

The Chinese government has been taking steps to reduce plastic pollution in recent years. In 2020, the government banned the use of disposable plastic chopsticks in food delivery services.

近年來，中國政府一直在採取措施減少塑料污染。 2020年，政府禁止在食品送貨服務中使用一次性塑料筷子。

The new initiative to phase out single-use plastic bags is a significant escalation of these efforts. It is also a key part of China’s goal to achieve carbon neutrality by 2060.

淘汰一次性塑料袋的新計劃是這些努力的重大升級。到2060年，它也是中國實現碳中立性的關鍵部分。

Institutions may be reducing their crypto investments

機構可能正在減少其加密貨幣投資

Institutions may be reducing their investments in cryptocurrency markets amid the recent downturn and broader macroeconomic headwinds.

在最近的低迷和更廣泛的宏觀經濟逆風的情況下，機構可能正在減少其對加密貨幣市場的投資。

According to Soken, which tracks institutional capital flows in cryptocurrencies, major institutional investors have pulled out a staggering $2.6 billion from US Bitcoin ETFs alone in the last four weeks.

根據追踪加密貨幣機構資本流動的Soken的說法，在過去的四個星期中，主要的機構投資者僅從美國比特幣ETF中獲得了驚人的26億美元。

According to Soken data, the total net outflows from US Bitcoin ETFs in the last week of February were an astounding $2.56 billion.

根據Soken數據，2月最後一周，美國比特幣ETF的淨流出總計25.6億美元。

Bitcoin ETF net flows, weekly chart. Source: Sosovalue

比特幣ETF淨流，每週圖表。資料來源：Sosovalue

This marks the fourth consecutive week of outflows from these products, suggesting a potential shift in institutional sentiment.

這標誌著這些產品連續第四周流出，這表明機構情緒可能發生了可能的轉變。