由於長期持有者套現，比特幣牛市陷入停滯

隨著長期持有者兌現利潤，比特幣的看漲勢頭面臨挑戰，利潤每天達到 26 億美元。分銷壓力加劇，同時實現利潤增加。由於交易者尋求平衡獲利回吐和長期可持續性，這可能會導致獲利回吐和波動性增加。

Are Long-Term Holders Cashing Out, Denting Bitcoin's Bullish Run?

長期持有者是否會套現，削弱比特幣的多頭趨勢？

Bitcoin's ascent to a new peak of $71,561 on Binance has hit a roadblock, falling short of its earlier high of $73,777. Behind this setback is a surge in distribution pressure from long-term holders, who are seizing the opportunity to realize their gains amid skyrocketing profits. This crossroads has traders grappling with the dilemma of reaping immediate profits while safeguarding the cryptocurrency's long-term viability.

比特幣在幣安上升至 71,561 美元的新高時遇到了障礙，低於此前高點 73,777 美元。這一挫折的背後是長期持有者的分配壓力激增，他們在利潤暴漲的情況下抓住機會實現收益。這個十字路口讓交易者面臨著既要獲得即時利潤又要保障加密貨幣長期生存能力的困境。

What's Driving the Distribution Pressure?

是什麼推動了分銷壓力？

Glassnode analysts have detected a significant ramp-up in distribution pressure from long-term holders, with realized profits exceeding $2.6 billion per day. This upswing in selling activity coincides with heightened realized profit, indicating an influx of Bitcoin holders who have accumulated gains since their initial acquisitions. This selling pressure has the potential to trigger downward price movements, as token holders cash out their holdings.

Glassnode 分析師發現，長期持有者的分配壓力顯著增加，每天實現的利潤超過 26 億美元。銷售活動的增加與已實現利潤的增加同時發生，顯示自最初購買以來已經累積了收益的比特幣持有者大量湧入。隨著代幣持有者兌現其持有的資產，這種拋售壓力有可能引發價格下跌。

Profit-Taking and Volatility: A Delicate Balance

獲利回吐與波動性：微妙的平衡

The combination of profit-taking by long-term holders and increased volatility has created a precarious balance for traders. Volatility is likely to spike as more traders seek to secure their earnings, resulting in price fluctuations as buy and sell orders compete. This volatility could pose a challenge for traders, requiring them to adapt their strategies accordingly.

長期持有者的獲利了結和波動性的增加為交易者帶來了不穩定的平衡。隨著越來越多的交易者尋求確保收益，波動性可能會加劇，導致買賣訂單競爭時價格波動。這種波動可能會給交易者帶來挑戰，要求他們相應地調整策略。

Liquidity Zones: A Potential Cushion for Price Movements

流動性區域：價格波動的潛在緩衝

Analyst @CryptoCapo_ has identified a crucial liquidity zone between $74,000 and $75,000, where a sufficient number of buyers and sellers are present to facilitate swift and efficient trades. This zone could serve as a buffer against drastic price fluctuations, providing some stability amidst the volatility. Traders often target these liquidity zones for placing their orders, as they offer greater ease in entering and exiting positions.

分析師 @CryptoCapo_ 確定了 74,000 美元至 75,000 美元之間的關鍵流動性區域，該區域有足夠數量的買家和賣家，以促進快速高效的交易。該區域可以作為價格劇烈波動的緩衝，在波動中提供一定的穩定性。交易者通常會在這些流動性區域下訂單，因為它們可以更輕鬆地進入和退出頭寸。

Bitcoin's Outlook: A Crossroads of Profit and Sustainability

比特幣的前景：利潤與永續性的十字路口

Despite the surge in distribution pressure, Bitcoin's bullish outlook remains intact. If Bitcoin can break through the $69,000 level on the 4-hour timeframe, it could rally towards its previous peak of $73,777. Surpassing this high could pave the way for a move into the liquidity zone beyond $74,000, potentially attracting more buyers and further boosting the price.

儘管分配壓力激增，但比特幣的看漲前景仍然完好無損。如果比特幣能夠在 4 小時內突破 69,000 美元的水平，它可能會反彈至之前的峰值 73,777 美元。突破這一高點可能為進入 74,000 美元以上的流動性區域鋪平道路，有可能吸引更多買家並進一步推高價格。

Technical Indicators: A Mix of Bullish and Bearish Signals

技術指標：看漲和看跌訊號的混合

Technical indicators present a mixed picture. The Moving Average Convergence Divergence (MACD) remains bullish, indicating market optimism. However, the Relative Strength Index (RSI) is not showing a decline in buying pressure, potentially signaling a weakening in the uptrend. The Awesome Oscillator (AO) displays red histogram bars, suggesting growing bearish sentiment. This convergence of positive and negative indicators suggests a cautious approach may be warranted.

技術指標的情況好壞參半。移動平均線收斂分歧（MACD）仍看漲，顯示市場樂觀。然而，相對強弱指數（RSI）並未顯示購買壓力下降，這可能表示上升趨勢減弱。真棒震盪指標 (AO) 顯示紅色長條圖，顯示看跌情緒不斷增長。這種積極和消極指標的趨同表明可能需要採取謹慎的態度。

Traders Face a Dilemma: Reap Profits or Preserve Sustainability

交易者面臨兩難：獲取利潤還是維持永續性

As buyer momentum contends with selling pressure, traders find themselves at a crossroad. They must balance the temptation to secure profits with the need to ensure Bitcoin's long-term sustainability. The delicate equilibrium between these competing forces will likely shape the cryptocurrency's trajectory in the coming weeks.

由於買家動力與拋售壓力相抗衡，交易者發現自己正處於十字路口。他們必須在確保利潤的誘惑與確保比特幣長期可持續性的需求之間取得平衡。這些競爭力量之間的微妙平衡可能會在未來幾週內塑造加密貨幣的發展軌跡。