由於看跌情緒影響市場，比特幣持續暴跌

截至 5 月 1 日，過去一天，比特幣價值下跌 3.84%，達到 58,291.31 美元。

Bitcoin's Price Plunge: Bearish Speculations and Waning Investor Enthusiasm Drive Market Sentiment

比特幣價格暴跌：看跌投機和投資者熱情減弱推動市場情緒

Within the past day, Bitcoin's valuation has witnessed a significant downturn, with a substantial 3.84% decline, settling at a value of $58,291.31 as of May 1. This precipitous drop in the cryptocurrency's value has sparked concerns among investors and analysts alike, with many attributing this depreciation to a combination of waning enthusiasm among devoted investors and an uptick in bearish speculations.

在過去的一天裡，比特幣的估值出現了大幅下滑，截至5 月1 日，比特幣的估值大幅下跌3.84%，收在58,291.31 美元。分析師的擔憂，許多人將其歸因於造成這種貶值的原因是忠實投資者的熱情減弱和看跌投機活動的增加。

In-depth analysis of on-chain data, as reported by Cointelegraph and sourced from CryptoQuant, has shed light on the complex factors contributing to this recent price downturn. One notable observation is the dramatic plunge in demand from so-called permanent holders of Bitcoin—investors who accumulate and hold the asset without engaging in frequent buying and selling. In April alone, the demand from this cohort of long-term investors plummeted by a staggering 50%. Late March figures revealed that over 200,000 BTC were held by permanent holders, a number that had sharply decreased to approximately 90,000 BTC by the end of April. This decline in holding behavior has reached levels last seen in early March, a period during which Bitcoin faced a significant correction of 7% after hitting all-time highs.

根據 Cointelegraph 報導，來自 CryptoQuant 的鏈上數據的深入分析揭示了導致近期價格下跌的複雜因素。一個值得注意的觀察是，所謂的比特幣永久持有者（即累積並持​​有該資產而不進行頻繁買賣的投資者）的需求急劇下降。光是 4 月份，這群長期投資者的需求就大幅下降了 50%。 3 月底的數據顯示，永久持有者持有超過 20 萬個 BTC，到 4 月底，這一數字已急劇下降至約 9 萬個 BTC。持有行為的下降已達到 3 月初的水平，在此期間，比特幣在觸及歷史高點後面臨 7% 的大幅回調。

Furthermore, the report highlighted a slowdown in demand for spot Bitcoin ETFs—exchange-traded funds that track the price of the cryptocurrency—and an uptick in futures market short positions as additional factors contributing to the recent price downturn. Traders exhibit increasing hesitation to initiate extensive positions, with a noticeable ascendancy of sell orders over buying ones.

此外，該報告還強調，現貨比特幣 ETF（追蹤加密貨幣價格的交易所交易基金）的需求放緩，以及期貨市場空頭部位的增加，是導致近期價格下跌的其他因素。交易者對於建立大量部位表現出越來越多的猶豫，賣單明顯多於買單。

In addition, Bitcoin's funding rate, an indicator of traders' willingness to engage in leveraged positions, has plummeted to its lowest level for the year. This declining funding rate reflects traders' diminished inclination to finance prolonged engagements in the Bitcoin market. This hesitancy is reflected in an uptick in short position activities as traders anticipate additional downturns in Bitcoin's valuation.

此外，比特幣的融資利率（交易者參與槓桿部位的意願指標）已暴跌至今年以來的最低水準。融資利率的下降反映出交易者為長期參與比特幣市場提供資金的意願減弱。這種猶豫不決反映在空頭部位活動的增加上，因為交易員預計比特幣估值將進一步下跌。

Analysts from CryptoQuant have noted that such corrections in the Bitcoin market are often driven by a decrease in demand from large investors, commonly referred to as whales. The recent trends suggest a cautious or even bearish outlook among these significant stakeholders, impacting the overall market sentiment.

CryptoQuant 的分析師指出，比特幣市場的此類調整通常是由大型投資者（通常被稱為鯨魚）的需求減少所致。最近的趨勢顯示這些重要利害關係人對前景持謹慎甚至悲觀態度，影響了整體市場情緒。

Market Analysts Predict Prolonged Descent in Bitcoin Valuations

市場分析師預測比特幣估值將長期下跌

In light of these on-chain data insights, market analysts are predicting a prolonged descent in Bitcoin valuations, foretelling bottoms unprecedented in the records of recent months. Subsequent to Bitcoin's inability to uphold the pivotal $60,000 threshold, experts' perspectives incline towards a sustained depreciation.

根據這些鏈上數據洞察，市場分析師預測比特幣估值將長期下跌，預示著近幾個月來前所未有的底層。在比特幣無法守住 6 萬美元的關鍵門檻後，專家的觀點傾向於持續貶值。

Esteemed market analyst Scott Melker interprets the prevailing financial turbulence as a transitory moderation within an overarching bull trend, remarking that the daily Relative Strength Index (RSI)—a technical indicator used to measure the strength or weakness of a trend—has yet to signify oversold conditions. Melker anticipates Bitcoin's depths in the imminent term to hover around $52,000.

受人尊敬的市場分析師 Scott Melker 將當前的金融動盪解釋為總體牛市趨勢中的暫時緩和，並表示每日相對強弱指數(RSI)（用於衡量趨勢強弱的技術指標）尚未顯示超賣狀況。 Melker 預計比特幣近期的價格將徘徊在 52,000 美元左右。

Adding to the analysis, Tuur Demeester, another prominent Bitcoin analyst, observed Bitcoin trading at $60,409. Demeester posits that with the critical $60,000 support level breached, the next threshold could likely be $50,000. This perspective aligns with broader market sentiments that anticipate further declines.

另一位著名比特幣分析師 Tuur Demeester 補充道，他觀察到比特幣交易價格為 60,409 美元。 Demeester 認為，隨著 6 萬美元的關鍵支撐位被突破，下一個門檻可能是 5 萬美元。這一觀點與預計進一步下跌的更廣泛市場情緒相一致。

Further emphasizing the bearish outlook, trader and analyst Mags highlighted the significance of the weekly closing prices. Should Bitcoin close below $60,000 on the weekly chart, Mags warns of a potential deep retracement. According to his analysis, such a scenario could drive Bitcoin's price down to $40,000 or even lower.

交易員兼分析師 Mags 進一步強調了看跌前景，強調了每週收盤價的重要性。 Mags 警告稱，如果比特幣在周線圖上收在 60,000 美元以下，可能會出現深度回調。根據他的分析，這種情況可能會導致比特幣的價格跌至 40,000 美元甚至更低。

In conclusion, the recent depreciation in Bitcoin's valuation is a complex phenomenon driven by a confluence of factors, including waning enthusiasm among devoted investors, an uptick in bearish speculations, and a slowdown in demand for spot Bitcoin ETFs. As analysts predict a prolonged descent in Bitcoin valuations, investors should proceed with caution and carefully assess their investment strategies in light of the evolving market sentiment.

總之，近期比特幣估值貶值是一個複雜的現象，是由多種因素共同推動的，包括忠實投資者的熱情減弱、看跌投機的增加以及現貨比特幣 ETF 需求的放緩。由於分析師預測比特幣估值將長期下跌，投資者應謹慎行事，並根據不斷變化的市場情緒仔細評估其投資策略。