比特幣（BTC）銷售壓力急劇下降，表明一段時間的合併

比特幣的銷售壓力急劇下降，這表明在4月和5月之前進行了整合。

Bitcoin (BTC) selling pressure has fallen sharply, setting the stage for the next move as the cryptocurrency enters a period of consolidation through April and May, according to analysis by CryptoQuant.

根據CryptoQuant的分析，比特幣（BTC）的銷售壓力急劇下降，為下一步行動奠定了基礎。

On a Apr. 1 post on X, Axel Adler Jr., an analyst at the on-chain analytics firm, noted that daily selling volume on major exchanges has dropped from 81,000 Bitcoin (BTC) to 29,000 BTC. Following this decline, the asset may enter a supply shortage phase with less sellers and consistent demand, setting the stage for the next Bitcoin price movement.

鏈分析公司的分析師Axel Adler Jr.在4月1日的帖子上指出，大型交易所的每日銷售量已從81,000比特幣（BTC）下降到29,000 BTC。在這種下降之後，資產可能進入供應短缺階段，銷售商較少，需求持續，為下一個比特幣價格轉移奠定了基礎。

"The average selling pressure on top exchanges has dropped from 81K to 29K BTC per day," said Adler. "Welcome to the zone of asymmetric demand. The market has successfully absorbed waves of profit-taking following the break above $100K. Sellers have dried up, and buyers seem comfortable with pivoting at a lower price over time."

阿德勒說：“頂級交易所的平均銷售壓力從每天的81k下降到29k BTC。” “歡迎來到不對稱需求的區域。在$ 10萬美元以上的休息後，市場已成功吸收了獲利的浪潮。賣家已經乾dried了，買家似乎對隨著時間的推移以較低的價格旋轉。”

A shift in the futures trading market mirrors this trend. In a separate post, Adler noted that short positions surged as bearish traders tried to profit following Bitcoin’s February all-time high. However, this pressure is now weakening, and trading behavior is changing.

期貨交易市場的轉變反映了這一趨勢。阿德勒（Adler）在另一篇文章中指出，在比特幣（Bitcoin）2月的歷史最高水平之後，短期職位飆升。但是，這種壓力現在正在減弱，交易行為正在發生變化。

"The behavior in the futures market is also shifting. We're seeing less short positions being liquidated as the bears get tired and the market enters a new phase," he added.

他補充說：“期貨市場的行為也在發生變化。隨著熊的疲倦，市場進入新階段，我們看到的短職位較少。”

Through exchange traded funds, institutional investors are now playing a bigger role in Bitcoin’s price trajectory than the retail market. As a result, the asset is more sensitive to macroeconomic events such as Federal Reserve policy shifts and inflation reports.

通過交易所交易基金，機構投資者現在在比特幣的價格軌跡中發揮了更大的作用，而不是零售市場。結果，資產對宏觀經濟事件（例如美聯儲政策的轉變和通貨膨脹報告）更為敏感。

"The price action is becoming increasingly dependent on macro events, especially with the decreasing role of the retail market and the rising sensitivity to FED and inflation news."

“價格行動越來越依賴宏事件，尤其是隨著零售市場的作用下降以及對美聯儲和通貨膨脹新聞的敏感性的提高。”

Meanwhile, Binance’s dominance in spot trading could also signal a bullish trend. Joao Wedson, another CryptoQuant Analyst, pointed out that Binance's trading volume is now eight times higher than that of Coinbase, and that past patterns have showed that Bitcoin often experiences a price surge when Binance leads in volume.

同時，Binance在現貨交易中的主導地位也可能標誌著看漲的趨勢。另一位加密分析師Joao Wedson指出，Binance的交易量現在是Coinbase的交易量的八倍，並且過去的模式表明，當Binance帶來數量時，比特幣經常會出現價格上漲。

"This indicator is turning positive again, meaning Binance's volume is consistently outpacing other exchanges," said Wedson. "The last time this happened was in January 2024, when Bitcoin was trading at around $42,000 and later surged to $52,000 after Binance's volume began to dominate."

韋德森說：“這個指標再次變為積極，這意味著Binance的數量始終超過其他交流。” “這次發生在2024年1月，當時比特幣的交易約為42,000美元，後來在Binance的數量開始佔據主導地位之後，比特幣後來飆升至52,000美元。”

Not all indicators, though, point to immediate gains. According to a 10x Research analysis, newly imposed tariffs and rising inflation could affect risk assets like Bitcoin.

但是，並非所有指標都指向立即收益。根據10倍的研究分析，新強加的關稅和通貨膨脹率上升可能會影響像比特幣這樣的風險資產。

Now at 5%, 10x Research analysts believe inflation expectations could slow down institutional inflow. They also noted that multiple risk-off catalysts are likely to pressure equities this week, which could spill over into the cryptocurrency market.

現在，10倍研究分析師認為，通貨膨脹預期可能會減緩機構流入。他們還指出，本週多個冒險催化劑可能會向股票施加壓力，這可能會溢出到加密貨幣市場。

"We expect BTC to move lower and potentially test the $80K level," said the analysts. "With the upcoming CPI and PPI reports, we may see further weakness in the market."

分析師說：“我們預計BTC將降低並有可能測試80,000美元的水平。” “隨著CPI和PPI的報告，我們可能會看到市場上進一步的弱點。”

As of press time, Bitcoin is trading at $83,530, with a seven-day range between $81,488 and $88,240. Although short-term risks are mounting, declining selling pressure and point to a stabilizing market, potentially setting the stage for the next move.

截至發稿時，比特幣的交易價格為83,530美元，範圍為81,488美元至88,240美元。儘管短期風險越來越大，銷售壓力下降並指向穩定的市場，有可能為下一步行動奠定基礎。