比特幣的漲勢是否正在失去動力？

隨著 3 月 26 日價格遭受重創，比特幣的漲勢似乎正在失去動力。華爾街的混合訊號導致 BTC/USD 在短短一小時內下跌 3.2%，抹去了早期的漲幅。在 2021 年達到 69,000 美元後，比特幣現在猶豫不決，不確定下一步走勢。市場爭論這是暫時的挫折還是更大回調的跡象。灰階比特幣信託資金流出量驟降至 1.2 億美元以下，顯示投資者情緒轉變。

Is Bitcoin's Rally Running Out of Steam?

比特幣的漲勢是否已經失去動力？

Bitcoin's bullish momentum hit a snag on March 26th, as the price action sent mixed signals to investors at the Wall Street open.

3 月 26 日，比特幣的看漲勢頭遇到了障礙，因為價格走勢在華爾街開盤時向投資者發出了複雜的信號。

TradingView data shows that BTC/USD is down 3.2% in the past hour, shedding its earlier gains. After soaring to its all-time high of $69,000 in 2021, Bitcoin is now treading water, seemingly unsure of its next move.

TradingView 數據顯示，BTC/美元在過去一小時內下跌了 3.2%，回吐了早期的漲幅。在 2021 年飆升至 69,000 美元的歷史高點後，比特幣現在停滯不前，似乎不確定下一步走勢。

Bullish or Bearish? The Market Debates

看漲還是看跌？市場爭論

The market dynamics suggest potential for both a continued rally and a pullback. Grayscale Bitcoin Trust (GBTC) outflows reportedly fell below $120 million, a significant drop from the previous week's average, according to Arkham Intelligence.

市場動態顯示存在持續上漲和回調的可能性。據 Arkham Intelligence 稱，據報道，灰度比特幣信託 (GBTC) 的流出量降至 1.2 億美元以下，較前一周的平均水平大幅下降。

"Yesterday's ETF net flows saw a minor net inflow at +$15.6M. $GBTC saw a net outflow of -$350.1M," noted Daan Crypto Trades on X (formerly Twitter).

Daan Crypto Trades 在 X（前 Twitter）上指出：“昨天 ETF 淨流量小幅淨流入 + 1560 萬美元。$GBTC 淨流出 - 3.501 億美元。”

However, there's a lack of bid liquidity below the current market price, potentially paving the way for a return to lower support levels.

然而，低於當前市場價格的投標流動性不足，這可能為回到較低支撐位鋪平道路。

"Path of Least Resistance Is Down"

“阻力最小的路徑是向下”

Keith Alan, co-founder of Material Indicators, observed on X, "What's clear is that in terms of liquidity, the path of least resistance is down. That's not speculation."

Material Indicators 聯合創始人 Keith Alan 在 X 上觀察到，“很明顯，就流動性而言，阻力最小的路徑是向下。這不是投機。”

Binance's BTC/USDT order book reveals that the closest cluster of significant bids remains centered around $60,000.

幣安的 BTC/USDT 訂單簿顯示，最接近的重要出價仍集中在 6 萬美元左右。

"With last week's close at $68.9k and last month's close at $61.1k, we could (and should) see one or both of those levels challenged relative to the candle close/open on Sunday," Alan added.

「鑑於上週收盤價為68,900 美元，上個月收盤價為61,100 美元，我們可能（並且應該）看到其中一個或兩個水平相對於週日的蠟燭收盤/開盤受到挑戰，」艾倫補充道。

A Critical Juncture for Bitcoin?

比特幣的關鍵時刻？

As Bitcoin hovers near its all-time high, investors are grappling with questions about the sustainability of the current rally. Will the bulls continue to push higher, or will the bears take hold and trigger a correction?

隨著比特幣徘徊在歷史高點附近，投資者正在努力解決當前反彈的可持續性問題。多頭會繼續推高，還是空頭會站穩腳步並引發調整？

The market's behavior in the coming days will likely provide clearer guidance on Bitcoin's trajectory.

未來幾天的市場行為可能會為比特幣的軌跡提供更清晰的指導。