比特幣（BTC）努力保持趨勢超過80,000美元

在看漲期望的中間，看跌的可能性正在發出巨大的聲音，尚未達到底部的信號

The lack of bullish strength may not keep up the rally elevated for a long time as Bitcoin struggles to keep up the trend above $80,000.

由於比特幣努力使趨勢超過80,000美元，因此缺乏看漲的力量可能不會長期提高集會。

The bearish possibilities are making huge noises in the middle of bullish expectations, and they may not yet signal the bottom is reached.

看跌的可能性在看漲期望的中間發出了巨大的聲音，它們可能尚未表明達到底部。

It is quite evident that President Donald Trump’s divisive policies around job cuts and tariff wars have crashed the U.S. stock market. Meanwhile, a significant negative impact has also been seen in the crypto space, with Bitcoin continuing to trade under extreme bearish pressure. In the early trading hours, the price slipped to $76,600 in the times when it has been adopted by a U.S. strategic reserve. On the other hand, the trading volume has halved ever since the price failed to rise above $100K, which suggests a massive drop in the trader’s interest. What’s Next—Is the Bitcoin Bear Market Begun?

顯然，唐納德·特朗普總統圍繞裁員和關稅戰爭的分裂政策席捲了美國的股市。同時，在加密貨幣領域也有顯著的負面影響，比特幣繼續在極端看跌壓力下進行貿易。在交易早期，在美國戰略儲備中採用的時代，價格下跌至76,600美元。另一方面，自從價格未能上漲以來以來，交易量減少了一半，這表明交易者的利息大幅下降。接下來是什麼 - 比特幣熊市開始？

The spot markets have been contributing to the volatility of the token, while the future market is considered to shed light on the price movements in the long term. Even if the spot volume drops, the volume in the futures remains elevated. Interestingly, the volume in both cases has dropped, suggesting the traders have become apathetic. Moreover, the future open interest has also dropped significantly since the last week of February, which substantiates the claim. Secondly, the transaction count has been dropping consistently ever since the BTC price began to escalate in November 2024. This suggests the rise in the institutional involvement or the possibility of carrying out more large transactions, as the drop in the transaction count implies the drop in the trading activity of the retailers. With this, the volatility has been decreasing, which is not good for a healthy price action. Both of the above on-chain indicators suggest a rise in the dominance of the institutions through a rise in the ETF holdings. The rise in ETF accumulation leads towards a rise in BTC value, while a drop impacts the price negatively. This suggests the impact of retail trading has been slashed to a large extent, and as a result, these traders usually turn as scapegoats during massive, long liquidations. What’s Next? Is BTC Heading Back to Fresh Lows?

現貨市場一直在促進令牌的波動，而從長遠來看，未來的市場被認為可以闡明價格變動。即使斑點量下降，期貨的體積仍會升高。有趣的是，這兩種情況下的數量都下降了，表明交易者變得冷漠。此外，自2月份的最後一周以來，未來的開放興趣也大大下降，這證明了這一主張。其次，自BTC價格於2024年11月開始升級以來，交易數量一直在下降。這表明機構參與的增加或進行更多大型交易的可能性，因為交易的下跌意味著零售商的交易活動的下降。因此，波動率一直在下降，這對健康的價格行動不利。上述兩個鏈上指標都表明，通過ETF持有量的增加，機構的主導地位升高。 ETF積累的增加導致BTC值的上升，而下降的價格會對價格產生負面影響。這表明零售交易的影響已在很大程度上被削減，結果，這些交易者通常在大規模長時間的清算期間轉向替罪羊。接下來是什麼？ BTC正在回到新鮮的低點嗎？

Since the price faced a rejection from the ATH, it has been constantly forming lower highs and lows. This suggests that the bulls have failed to reclaim their dominance, and as a result, every rebound is followed by a huge pullback. Currently, the price has displayed a bullish divergence, but it is expected to be short-lived as the Puell Multiple has remained neutral since the November breakout. The indicator considers Bitcoin miners and their revenue. If the indicator drops to the lower green zone, it indicates the start of a bull run, as it happened back in 2018 and 2021. Currently, the levels are stuck between 0.98 and 1.41 around the average, which suggests the markets are stuck within a strong consolidation phase. After losing the crucial support zone around $85,000, the price appears to have lost another pivotal support at $80,400. Therefore, with this, Bitcoin has completed a parabolic pullback, which could drag the levels lower. Hence, the BTC price continues to remain under bearish influence.

由於價格面臨ATH的拒絕，因此它一直在不斷形成較低的高潮和低點。這表明公牛隊未能奪回其統治地位，因此，每個籃板之後都有巨大的回調。目前，價格表現出了看漲的分歧，但預計將是短暫的，因為自11月突破以來，Puell多重倍數一直保持中立。該指標考慮了比特幣礦工及其收入。如果指標下降到較低的綠色區域，則表明牛的開始，正如2018年和2021年發生的那樣。目前，該水平被卡在平均水平的0.98至1.41之間，這表明市場被困在強大的整合階段。在損失了85,000美元左右的關鍵支持區之後，價格似乎損失了另一個關鍵支持，為80,400美元。因此，因此，比特幣已經完成了拋物線回調，這可能會使水平降低。因此，BTC的價格繼續保持看跌影響。