Key Metric說，比特幣（BTC）突然看起來不那麼看跌。

市場情報公司GlassNode的聯合創始人說，基於關鍵指標，比特幣（BTC）突然看起來不那麼看跌。

The co-founders of market intelligence firm Glassnode are keeping a close eye on Bitcoin (BTC) price action, and according to them, a key metric is suddenly looking less bearish.

市場情報公司GlassNode的聯合創始人正在密切關注比特幣（BTC）的價格行動，據他們說，關鍵指標突然看起來不那麼看跌。

In a new thread on the social media platform X, Jan Happel and Yann Alleman - who go by the handle Negentropic - shared an updated Bitcoin Risk Signal chart, showing that the metric has dropped below 25.

在社交媒體平台X上的一個新線程中，Jan Happel和Yann Alleman（通過handle negentropic乘坐的Yann Alleman）分享了一個更新的比特幣風險信號圖表，表明該指標已降至25處。

The Bitcoin Risk Signal, according to Alleman, is based on a “set of proprietary indicators, including Bitcoin price data, on-chain data and a selection of other trading metrics.” The indicator gauges whether BTC is at risk of a major drawdown in price.

根據ALLEMAN的說法，比特幣風險信號基於“一組專有指標，包括比特幣價格數據，鏈上數據和其他交易指標的選擇”。該指標衡量了BTC是否有大量價格降低的風險。

The lower the value of the Bitcoin Risk Signal, the less likely BTC is to experience a significant price drop, and vice versa. As such, values below 25 on the indicator are generally considered bullish.

比特幣風險信號的價值越低，BTC的價格下降的可能性就越小，反之亦然。因此，指標上低於25的值通常被認為是看漲的。

“Good news and bad news – which one do you want first?” the analysts wrote, kicking off their analysis.

“好消息和壞消息 - 您首先想要哪一個？”分析師寫道，開始了他們的分析。

“Good: the Risk Index has dropped below 25, meaning bearish pressure has significantly eased.”

“好：風險指數已下降到25台以下，這意味著看跌壓力已大大緩解。”

However, before a bullish trend reversal can be confirmed, the analysts said that Bitcoin needs to flip the $100,000 level into support.

但是，在證實看漲趨勢逆轉之前，分析師說，比特幣需要將100,000美元的水平翻轉為支持。

“Bad (or maybe not so bad): the BTC futures-to-spot ratio shows a higher increase in futures than spot, indicating this recovery is futures-driven. Meanwhile, shorts are piling up above $99,000-$100,000, which could fuel a squeeze.”

“不好（或可能還不錯）：BTC期貨與點的比率比現場的增長更高，這表明這種恢復是由期貨驅動的。同時，短褲堆積在99,000-100,000美元以上，這可能會擠壓。”

The analysts also noted that Bitcoin needs spot trading volume to increase in order to hold higher price levels as support.

分析師還指出，比特幣需要斑點交易量以增加，以便將更高的價格水平作為支持。

“Each rebound is weaker, signaling a lack of spot volume for a stronger move…” they wrote.

他們寫道：“每個反彈都較弱，這表明缺乏更強大的舉動……”

“Until $97,000-$98,500 is recovered, $92,000 remains the key downside level to watch.”

“直到收回$ 97,000- $ 98,500之前，$ 92,000仍然是要觀看的關鍵缺票。”

At the time of writing, Bitcoin is trading hands for $98,336, having remained largely flat over the past 24 hours.

在撰寫本文時，比特幣以98,336美元的價格交易，在過去的24小時內仍然很平坦。