比特幣零售投資者的需求最近轉移到了0％左右的中性區域

比特幣散戶投資者的需求最近轉移到了0％左右的中性區域。從歷史上看，該指標的變化對BTC的價格軌跡產生了相關的影響。

Retail investor demand for Bitcoin (BTC) recently shifted back towards the neutral zone around 0%. Changes in this metric have often had a correlated impact on BTC's price trajectory.

散戶投資者對比特幣（BTC）的需求最近向中性區域轉移到0％左右。該指標的變化通常會對BTC的價格軌跡產生相關的影響。

A recovery in retail demand could be a factor in the short-term bullish outlook.

零售需求的恢復可能是短期看漲前景的一個因素。

What Happened: According to Glassnode's latest analysis, the Bitcoin relative demand balance, a measure of retail investor sentiment, has shifted back towards the neutral zone after a steep decline.

發生了什麼：根據GlassNode的最新分析，比特幣相對需求平衡是零售投資者情緒的衡量標準，在大幅下降後已轉移到中立區。

This shift follows a period of sustained negative sentiment, which saw the balance decrease to -21% in July 2024, marking a significant shift in investor sentiment.

這一轉變是在一段持續的負面情緒之後，在2024年7月，餘額下降至-21％，這標誌著投資者情緒的重大轉變。

Retail demand is known to have a delayed response in price adjustment, which could be a factor in the short-term bullish outlook for Bitcoin.

眾所周知，零售需求在價格調整方面的響應延遲，這可能是比特幣短期看漲前景的一個因素。

If this pattern holds, there could be a delayed response in price adjustment to this shift in sentiment, potentially signaling a bullish outlook in the short-term future.

如果這種模式成立，對這種情緒轉變的價格調整可能會延遲響應，這可能會在短期未來表明看漲的前景。

However, the substantial volatility in retail investor sentiment also presented a risk of rapid sentiment reversal, which could lead to sudden price declines if negative trends re-emerge or external market forces exert downward pressure.

但是，散戶投資者情緒的實質性波動也出現了快速情緒逆轉的風險，這可能導致價格突然下降，如果負面趨勢重新出現或外部市場力量施加向下壓力。

Further analysis of the Bitcoin Sell-Side Risk Ratio showed a decrease to historically low levels, suggesting a local bottom and signals an accumulation phase with reduced selling pressure.

對比特幣賣方風險比率的進一步分析顯示，歷史上較低的水平降低，表明局部底部的底部，並表示累積階段，銷售壓力降低。

This fall to values around 0.08% aligns with past patterns where such dips precede periods of market stabilization or bullish reversals, indicating a potentially favorable entry point for investors.

今年的價值約為0.08％，與過去的模式保持一致，在這種模式之前，此類下降之前的市場穩定或看漲逆轉，這表明對投資者有可能有利的切入點。

"Every significant drop in this ratio, such as those in November 2023 and September 2024, was later followed by a gradual increase in Bitcoin's price, as seen in the subsequent months," the report said.

報告說：“這種比率的每一個大幅下降，例如2023年11月和2024年9月的比率下降，隨後比特幣的價格逐漸上漲，如隨後的幾個月所示。”

For example, the reduction in November 2023 led to a gradual recovery in price in the following months, reflecting decreased sell-side pressure and increased buying activity.

例如，2023年11月的減少導致了接下來幾個月的價格逐漸恢復，反映了賣方壓力下降和購買活動增加。

Conversely, while the low sell-side risk ratio suggests a bullish outlook, the opposite scenario could unfold. This could lead to sustained low prices or further declines if new negative drivers emerge, despite the current low risk of sell-side pressure.

相反，雖然低賣方風險比率表明看漲前景，但相反的情況可能會展現出來。儘管當前賣方壓力的風險低，但如果新的負面駕駛員出現，這可能會導致持續的低價或進一步下降。

Where Is BTC Price Headed?

BTC價格在哪裡？

For price action, BTC price is in a consolidation phase within a well-defined trading range, largely bounded by critical price levels that serve as key psychological and technical pivots.

對於價格行動，BTC價格處於定義明確的交易範圍內的整合階段，在很大程度上是由關鍵的心理和技術樞紐的關鍵價格水平界定的。

The upper boundary of the range is currently established around $99,000, where previous resistances have halted upward movements.

該範圍的上限目前建立在99,000美元左右，以前的阻力已停止向上移動。

The lower boundary, providing substantial support, lies near $95,000, a level where significant buying pressure has historically materialized.

提供大量支持的下邊界在95,000美元接近$ 95,000，這一水平在歷史上已經實現了巨大的購買壓力。

Currently trading at $95,700, Bitcoin is near the lower boundary of its recent range, suggesting a pivotal zone where traders might anticipate potential buying opportunities.

比特幣目前的交易價格為95,700美元，接近其最近範圍的下邊界，這表明交易者可能會預期潛在的購買機會。

If Bitcoin holds the support at $95,000, an increase towards the upper boundary of $99,000 is likely. A breakout above this level could set the stage for a move towards $104,000, following the established pattern of upward breaks from this trading band.

如果比特幣的支持為95,000美元，則可能會增加99,000美元的上限。超過此水平的突破可能會邁向$ 104,000的舞台，並遵循該交易樂隊的向上突破模式。

Conversely, a breakdown below $95,000 could trigger a sell-off, targeting lower supports at $90,000 and $86,000, as these levels align with historical pullbacks and psychological thresholds.

相反，低於$ 95,000的細分可能會引發拋售，以較低的支持為90,000美元和86,000美元，因為這些水平符合歷史回調和心理閾值。

Each time Bitcoin has tested the lower end of its current range, a recovery ensued, often reaching or surpassing the upper end.

每次比特幣都測試了其當前範圍的下端，隨後進行了恢復，經常達到或超過上端。

However, repeated tests of support without a significant breakout above the range could weaken buyer momentum, potentially leading to a bearish downturn.

但是，在沒有明顯突破範圍內的重複支持測試的重複測試可能會削弱買方的勢頭，這可能導致看跌的經濟低迷。