比特幣最近的價格掙扎引發了加密專家的分歧

CryptoQuant首席執行官Ki Young Ju宣布比特幣的公牛循環死亡，預測最多12個月的衰落。 rakesh撰寫：輸出：比特幣最近的價格掙扎引發了加密專家之間的分歧。儘管有些人預測向看跌情緒的轉變，並預計數月的衰落或停滯，但其他人仍然有信心集會仍然有成長的空間。

Cryptocurrency markets have seen a shift in sentiment, with experts divided on whether Bitcoin's recent price struggles signal further decline or a continuation of the rally.

加密貨幣市場的觀點發生了變化，專家在比特幣最近的價格鬥爭中有所分歧，信號是進一步下降還是集會的延續。

As Bitcoin hovers in the mid-$80,000s, analysts are examining on-chain metrics and broader market trends to anticipate the next move.

隨著比特幣徘徊在80,000美元的中期，分析師正在研究鏈上指標和更廣泛的市場趨勢，以預測下一步行動。

CryptoQuant CEO Ki Young Ju believes Bitcoin's bull cycle has ended, expecting up to 12 months of decline or stagnation.

CryptoQuant首席執行官Ki Young Ju認為，比特幣的牛週期已經結束，預計會下降12個月。

"The data keeps signaling bearish. Bitcoin bull cycle is over, expecting 6-12 months of bearish or sideways price action," he warns.

他警告說：“數據保留了信號。比特幣牛週期結束了，預計有6-12個月的看跌或側向價格動作。”

According to Ju, all on-chain metrics point to a bear market as liquidity dries up and whales sell Bitcoin at lower prices.

根據JU的說法，隨著流動性乾燥，鯨魚以較低的價格出售比特幣時，所有鏈度指標都指向熊市。

Weak Demand, Fading Accumulation

需求疲軟，積累逐漸消失

On-chain analytics firm Glassnode reports weakening Bitcoin fundamentals in its March report.

鏈上分析公司玻璃節報告在3月份的報告中報告了比特幣基本面的削弱。

Since Bitcoin's second attempt to break above $105,000 in late January failed, demand has been weak, and accumulation has diminished.

自從比特幣在1月下旬銷售超過105,000美元以上的第二次嘗試以來，需求疲軟，積累減少了。

The failed rally triggered market contraction and consolidation, prolonging Bitcoin's slump.

失敗的集會引發了市場收縮和鞏固，延長了比特幣的低迷。

But unlike the earlier phase, where a strong dip-buying response was evident at lower price levels, this time, there was no significant buying activity.

但是，與較早的階段不同，在較低的價格水平下，明顯的銷售響應很明顯，這次沒有大量的購買活動。

This shift in behavior suggests a change in sentiment towards risk aversion and capital preservation, according to Glassnode.

根據GlassNode的說法，這種行為轉變表明，人們對風險規避和資本保存的情緒發生了變化。

"The lack of dip-buying at lower levels suggests that capital rotation is underway, potentially leading to a more prolonged consolidation or corrective phase before the market finds a firm support base."

“在較低級別上缺乏銷售，這表明正在進行資本輪換，可能會導致更長的合併或糾正階段在市場找到公司的支持基礎之前。”

Despite high trading volumes near the $100,000 threshold and large outflows from major exchanges, Bitcoin's price remained stagnant, and ETF inflows have been negative for three consecutive weeks, reflecting waning institutional interest.

儘管交易量很高，近100,000美元的門檻和主要交易所的大量流出，但比特幣的價格仍然停滯不前，ETF的流入連續三個星期一直為負面，反映了機構的興趣。

Bitcoin futures funding rates are also converging towards 0, indicating weak demand for both long and short positions and growing trader uncertainty.

比特幣期貨融資率也趨向於0，表明對長位和短職位以及不斷增長的交易者不確定性的需求較弱。

Broader macroeconomic concerns and trade tensions push investors away from risky assets like Bitcoin, Glassnode analysts say.

GlassNode分析師說，更廣泛的宏觀經濟問題和貿易緊張局勢使投資者擺脫了像比特幣這樣的風險資產。

Bitcoin Holds Steady Ahead of FOMC Meeting

比特幣在FOMC會議上保持穩定

Bitcoin has held steady around the $82,000 support level for a week, showing a minor 1.3% change and no signs of volatility ahead of the Federal Open Market Committee (FOMC) meeting on Wednesday.

比特幣在一周的82,000美元支持水平上保持穩定，顯示出1.3％的變化1.3％，沒有在周三聯邦公開市場委員會（FOMC）會議之前發生波動的跡象。

The FOMC meeting is crucial for the financial markets, as decisions on interest rates and monetary policy directly impact investor sentiment and market liquidity.

FOMC會議對金融市場至關重要，因為關於利率和貨幣政策的決策直接影響投資者的情緒和市場流動性。

Market expectations are high that the Federal Reserve will keep interest rates unchanged between 4.25% and 4.50%.

市場期望很高，即美聯儲將使利率保持不變在4.25％至4.50％之間。

The CME FedWatch tool, which tracks market expectations for future Federal Reserve interest rate decisions, shows a 99% probability that no rate cuts will be announced.

CME FedWatch工具跟踪市場對未來美聯儲利率決策的期望，顯示99％的可能性將宣布降低利率。

With no rate cut expected, Bitcoin's price is likely to continue its current sideways trajectory.

由於預期的稅率降低，比特幣的價格可能會繼續其當前的側面軌跡。

Bitcoin Bottom Confirmed, Says Trader

交易員說，比特幣底部證實

However, not all crypto market participants are bearish.

但是，並非所有加密市場參與者都是看跌。

Crypto trader Astronomer stated in a series of posts on X that Bitcoin's bottom is confirmed, expressing surprise that many reputable traders expected lower prices after Bitcoin briefly dipped below the $80,000 institutional level.

加密交易者天文學家在X上的一系列帖子中表示，比特幣的底部得到了證實，這使人們感到驚訝，許多知名的交易者期望比特幣短暫下跌低於80,000美元的機構水平。

According to Astronomer, Bitcoin has bottomed and reached its higher timeframe support of nearly $80,000.

根據天文學家的說法，比特幣已經觸底了，並獲得了近80,000美元的較高時間範圍的支持。

Despite recent declines, the trader remains bullish, predicting Bitcoin will reach $160K-$200K by the end of this cycle.

儘管最近下降了，但交易者仍然看漲，預計到本週期結束時，比特幣將達到16萬美元至20萬美元。

Astronomer believes Bitcoin's current price action mirrors the parabolic advance seen in 2017, reinforcing his optimistic outlook.

天文學家認為，比特幣目前的價格動作反映了2017年的拋物線進展，從而增強了他樂觀的前景。

Why This Matters

為什麼這很重要

Bitcoin struggles to climb as demand weakens and uncertainty grows, signaling a cautious market ahead.

隨著需求減弱和不確定性的增長，比特幣努力攀升，這表明面前一個謹慎的市場。