比特幣從1月的山峰起最近的回調

據加密分析師稱，比特幣最近從1月的峰值起的回調是典型的周期校正，而不是牛跑結束的標誌。

Bitcoin’s recent pullback from its January peak is a typical cycle correction, not a sign of the bull run’s end, according to crypto analysts.

據加密分析師稱，比特幣最近從1月的峰值起的回調是典型的周期校正，而不是牛跑結束的標誌。

Ben Simpson, CEO of Collective Shift, expressed this view, adding that the cycle peak has been delayed due to macro conditions and tightening liquidity.

集體班次首席執行官本·辛普森（Ben Simpson）表示這種觀點，並補充說，由於宏觀條件和收緊流動性，週期峰已被延遲。

“I don’t think the bull run is over. We’re just seeing a cycle peak that got delayed due to some macro conditions and also some tightening liquidity,” Simpson explained.

辛普森解釋說：“我認為牛的跑步還沒有結束。

As Trump imposed tariffs, leading to macroeconomic uncertainties, and the US adjusted its interest rate policy, crypto traders and analysts began discussing a potential shift in the Bitcoin (BTC) cycle narrative.

當特朗普徵收關稅，導致宏觀經濟不確定性，美國調整了其利率政策，加密交易者和分析師開始討論比特幣（BTC）週期敘事的潛在轉變。

After attaining an all-time high (ATH) of $109,000 in January, Bitcoin has since dropped by 24%, currently trading at around $82,824.

一月份達到了歷史最高的109,000美元（ATH）後，比特幣已下跌了24％，目前的交易價格約為82,824美元。

This correction has been attributed to several factors, including macroeconomic developments and the crypto market’s rapid ascent during the previous year.

這種更正歸因於幾個因素，包括宏觀經濟發展以及上一年中加密貨幣市場的迅速上升。

During the last bull run, Bitcoin experienced 12 deep 25% pullbacks, but this cycle has seen only three to four such corrections, explained Nick Forster, founder of Derive.

在上一台公牛跑期間，比特幣經歷了12個深25％的回調，但是這個週期只有3到四個這樣的校正，他解釋說，DEDAIDE的創始人尼克·福斯特（Nick Forster）解釋說。

“It’s still early days for Bitcoin, and we’re likely to see it hit new highs after this correction,” said Forster, adding that this scenario aligns with previous cycles.

福斯特說：“比特幣仍然是比特幣的早期，我們很可能會看到它在此更正後達到了新的高點。”他補充說，這種情況與以前的周期相吻合。

However, CryptoQuant CEO Ki Young Ju recently claimed the bull cycle has ended, a view that might be premature, according to analysts like Charles Edwards of Capriole Investments. Edwards assigns a 50:50 probability to the cycle continuing or ending.

但是，據Capriole Investments的Charles Edwards等分析師說，CrigtoQuant首席執行官Ki Young Ju最近聲稱公牛週期已經結束，這一觀點可能為時過早。愛德華茲分配了50:50的概率，以持續或結束。

“We could quickly get a scenario where the Fed begins to ease monetary policy in the second half of the year, leading to a rapid increase in the price of Bitcoin again,” Edwards noted.

愛德華茲指出：“我們可以迅速獲得一個場景，即美聯儲在下半年開始緩解貨幣政策，從而導致比特幣價格迅速上漲。”

The next major narrative for Bitcoin could revolve around US rate cuts and increasing global liquidity. If the Federal Reserve halts quantitative tightening and injects liquidity, Bitcoin’s upward trajectory may resume sooner than expected.

比特幣的下一個主要敘述可能會圍繞美國降低降低和增加全球流動性。如果美聯儲停止定量收緊並註入流動性，則比特幣的向上軌跡可能比預期的要早。

For now, investors are watching key macroeconomic signals, with Bitcoin poised for its next move in the coming months.

目前，投資者正在觀看關鍵的宏觀經濟信號，比特幣在未來幾個月內準備下一步。