比特幣是否已經做好了「最大痛苦」下跌的準備？

CryptoQuant 的 Ki Young Ju 警告稱，比特幣可能會大幅下跌，因為比特幣可能會出現「最大痛苦」暴跌。隨著比特幣 ETF 資金流入的減少，表明比特幣 ETF 正在轉向拋售，歷史分析表明，比特幣 ETF 的價格將從當前 67,184 美元的價格下跌 30% 至 51,000 美元。這一水平可能標誌著遭受損失的市場參與者的最大痛苦點。

Is Bitcoin Poised for a 'Max Pain' Plunge?

比特幣是否已準備好迎接「最大痛苦」暴跌？

CryptoQuant's Ki Young Ju cautions that Bitcoin (BTC) could plunge to a "max pain" level before the bull market resumes. Ju's analysis points to waning inflows into spot Bitcoin exchange-traded funds (ETFs), indicating a potential shift in market sentiment towards selling.

CryptoQuant 的 Ki Young Ju 警告稱，在牛市恢復之前，比特幣 (BTC) 可能會跌至「最大痛苦」水平。 Ju 的分析指出，流入現貨比特幣交易所交易基金（ETF）的資金正在減少，這表明市場情緒可能轉向拋售。

Historical Precedent: A 30% Drawdown?

歷史先例：縮水30%？

Based on historical price action, Ju suggests a potential correction to $51,000, representing a 30% drawdown from the current price of $67,184. This level is seen as a "max pain" point, where the maximum number of market participants experience losses.

根據歷史價格走勢，Ju 建議可能修正至 51,000 美元，較目前價格 67,184 美元下跌 30%。該水平被視為「最大痛苦」點，即最大數量的市場參與者遭受損失。

Whales and Miners Unloading?

鯨魚和礦工卸貨？

CryptoQuant's data further indicates increased selling by large BTC holders, including miners. This suggests that these entities may be taking profits after the recent surge in prices.

CryptoQuant 的數據進一步表明，包括礦工在內的大型 BTC 持有者的拋售有所增加。這表明這些實體可能在近期價格飆升後獲利了結。

Short-Term Traders Cashing Out

短期交易者套現

Shorter-term holders are also cashing out, according to CryptoQuant. The rate of profit-taking has not been seen since May 2019, further supporting the notion of a potential correction.

據 CryptoQuant 稱，短期持有者也在兌現。自 2019 年 5 月以來，從未出現過獲利了結的情況，進一步支持了潛在回調的觀點。

Market Sentiment Shifts

市場情緒轉變

At the time of writing, Bitcoin is trading above $67,000, up over 4% in the past day. However, Ju's analysis suggests that a more significant correction could be on the horizon, as market sentiment appears to be shifting towards selling.

截至撰寫本文時，比特幣交易價格超過 67,000 美元，過去一天上漲超過 4%。然而，朱的分析表明，隨著市場情緒似乎轉向拋售，更重大的調整可能即將出現。

Bull Market Pause or a Deeper Pullback?

多頭暫停還是進一步回檔？

While a correction to $51,000 would represent a significant decline, it would still leave Bitcoin within its bull market range. However, if selling pressure intensifies, a deeper pullback could ensue, raising concerns about the sustainability of the current uptrend.

雖然修正至 51,000 美元將意味著大幅下跌，但仍將使比特幣處於牛市區間。然而，如果拋售壓力加劇，可能會出現更嚴重的回調，引發人們對當前上升趨勢可持續性的擔憂。

Conclusion

結論

CryptoQuant's analysis highlights the potential for a near-term correction in Bitcoin. Investors should monitor market developments closely and consider adjusting their positions accordingly. The question remains whether this correction will be a temporary pause in the bull market or a more significant pullback that tests the limits of investor confidence.

CryptoQuant 的分析強調了比特幣近期回檔的潛力。投資者應密切關注市場發展並考慮相應調整部位。問題仍然在於，這次調整是多頭市場的暫時停頓，還是更顯著的回調，考驗投資人信心的極限。