比特幣（BTC）最近的波動率使許多焦慮症留下了焦慮，考慮到倒退是否會加深還是恢復恢復。

市場分析公司的見解表明，當前的鍊鍊指標可以就比特幣的短期軌跡提供寶貴的指導。

Bitcoin’s (BTC) recent volatility has left many in the cryptocurrency space anxious, pondering whether the downturn will deepen or if a recovery is on the horizon. Insights from market analytics firm Santiment suggest that current on-chain metrics could provide valuable guidance regarding Bitcoin’s short-term trajectory.

比特幣（BTC）最近的波動性使許多人在加密貨幣空間中焦慮不安，思考下滑是否會加深還是恢復到地平線。市場分析公司的見解表明，當前的鍊鍊指標可以就比特幣的短期軌跡提供寶貴的指導。

Since hitting an all-time high (ATH) of $109,000 just ahead of U.S. President Donald Trump’s inauguration in January, Bitcoin has faced a seven-week slump. Santiment attributes this downturn to the prevailing macroeconomic environment and global uncertainties.

自從一月份在美國總統唐納德·特朗普就職典禮之前達到歷史最高的109,000美元（ATH）以來，比特幣一直面臨7週的低迷。 santiment將這種低迷歸因於主要的宏觀經濟環境和全球不確定性。

As the market braces for a potential stabilization, a shift in thinking is palpable. While fear, uncertainty, and doubt (FUD) are simmering, there are signs of potential recovery as large-scale Bitcoin accumulations by whales increase.

作為潛在穩定的市場括起來，思維的轉變是顯而易見的。雖然恐懼，不確定性和懷疑（FUD）在雜亂無章，但由於鯨魚的大規模比特幣積累，有可能恢復的跡象。

In the lead-up to the presidential inauguration, the market was characterized by initial large-scale accumulation from savvy investors, often referred to as whales and sharks, which drove up Bitcoin’s price to new highs. This enthusiasm began to wane as whale activity peaked and subsequently slowed down by mid-February, giving way to a more bearish sentiment as these large holders started to take profits. The sell-off intensified as Bitcoin’s price continued to correct downward, even following renewed accumulation observed on March 3.

在總統就職典禮的領導下，市場的特點是精明的投資者最初的大規模積累，通常稱為鯨魚和鯊魚，這將比特幣的價格提高到了新的高點。隨著鯨魚活動達到頂峰，隨後到2月中旬，這種熱情開始消失，隨著這些大型持有人開始利潤，您的情緒更加看跌。隨著比特幣的價格繼續向下糾正，即使在3月3日觀察到的重新積累之後，拋售也加劇了。

Despite this ongoing accumulation, a significant amount of BTC has been moved to exchanges—a total of 22,702 BTC (which is approximately 0.11% of the total Bitcoin supply) shifted from wallets to exchanges between February 20 and March 8. This influx to exchanges typically signals a readiness to sell, heightening concerns among investors about potential downward pressure on prices.

儘管存在這種持續的積累，但大量的BTC已轉移到交流中，總共22,702 BTC（約佔比特幣總供應總額的0.11％）從錢包轉移到2月20日至2月20日之間的交流。在2月20日至3月8日之間，這種交流向交易所的湧入往往，通常會在銷售方面發售，並在銷售中提高了對潛在的傾向壓力的提高，價格越來越多。

While these movements are crucial, they should not overshadow the bigger trends suggested by whale activities, and short-term market participants may be better served by monitoring sentiment expressed on social media regarding FOMO (fear of missing out) and FUD.

儘管這些運動至關重要，但它們不應掩蓋鯨魚活動所暗示的更大趨勢，而短期市場參與者可以通過監視社交媒體上對FOMO（擔心錯過）和FUD的觀點來更好地服務。

From an analytical perspective, current social media trends indicate that predictions for Bitcoin’s price target between $50,000 and $69,000 are more prevalent than those suggesting a rise to $100,000 or above.

從分析的角度來看，當前的社交媒體趨勢表明，比特幣目標目標在50,000美元至69,000美元之間的預測比建議上漲至100,000美元或更高的人更普遍。

This inversion is often indicative of a market reversal, as cryptocurrencies frequently trend in opposition to the prevailing market sentiment.

這種反轉通常表明市場逆轉，因為加密貨幣經常反對現行市場情緒。

Another valuable metric to consider is the performance of traders over different timeframes. Those engaged in Bitcoin trading over the last 30 days have seen average losses of 11%, while those who held for a longer term (365 days) are down 5%.

要考慮的另一個有價值的指標是交易者在不同的時間表上的表現。過去30天從事比特幣交易的人的平均損失為11％，而持有長期（365天）的人則下降了5％。

These statistics might suggest that the market has not yet hit rock-bottom historically, although caution remains warranted.

這些統計數據可能表明，儘管謹慎仍然有必要，但市場尚未在歷史上擊中岩石。

As Santiment wisely points out, “Don’t be surprised if there is a bit more pain in store first, though. It’s always darkest before the dawn.”

正如Santiment明智地指出的那樣：“不過，如果首先有更多的痛苦，請不要感到驚訝。黎明之前總是最黑暗的。”

This quote encapsulates the cautionary approach currently prevailing in the market as investors brace themselves for possible more turbulence before any hope of recovery takes hold.

這句話封裝了目前在市場上盛行的警告方式，因為投資者會在任何恢復希望持續之前提高可能的動盪。

In conclusion, while bearish sentiment might dominate the discourse around Bitcoin’s immediate future, indicators from whale behavior and shifts in social media sentiment could herald a different outcome than what the majority anticipates. The volatility of the cryptocurrency market continues to challenge investors, with both risk and opportunity distinctly on the table.

總而言之，儘管看跌的情緒可能主導著圍繞比特幣的未來討論的話語，但社交媒體情緒中鯨魚行為和轉變的指標可能與多數人所期望的不同。加密貨幣市場的波動繼續挑戰投資者，風險和機會都明顯地列為桌面。