需求飆升，比特幣在流動性邊緣搖搖欲墜

由於需求激增，比特幣市場可能即將面臨流動性危機，達到 213,000 BTC，而可見供應量已減少至 270 萬枚。這種不平衡可能會推高價格，但也會增加波動性，促使市場分析師密切關注流動性水準。

Bitcoin Market Teeters on the Brink of a Liquidity Crisis as Demand Surges

隨著需求激增，比特幣市場瀕臨流動性危機

CryptoQuant, a renowned on-chain data analytics firm, has sounded the alarm over a looming liquidity shortage in the Bitcoin market. Their in-depth analysis reveals a staggering surge in Bitcoin demand, skyrocketing from 40,000 BTC to a colossal 213,000 BTC within the past month alone.

著名的鏈上數據分析公司 CryptoQuant 對比特幣市場迫在眉睫的流動性短缺敲響了警鐘。他們的深入分析揭示了比特幣需求的驚人激增，僅在過去一個月內就從 40,000 BTC 飆升至 213,000 BTC。

This meteoric demand escalation has been propelled by a confluence of factors, including the launch of new Bitcoin exchange-traded funds (ETFs) and aggressive accumulation by high-net-worth individuals or "whales." Simultaneously, CryptoQuant's data uncovers that the total circulating supply of visible Bitcoin has dwindled to a mere 2.7 million coins, the lowest level witnessed since the market turmoil of March 2020.

這種需求的急劇上升是由多種因素共同推動的，包括新的比特幣交易所交易基金（ETF）的推出以及高淨值個人或「鯨魚」的積極累積。同時，CryptoQuant 的數據顯示，可見比特幣的總流通供應量已減少至僅 270 萬枚，這是自 2020 年 3 月市場動盪以來的最低水準。

This widening chasm between supply and demand has the potential to ignite a liquidity crisis, leaving insufficient Bitcoin to satisfy the voracious appetite of buyers. The fundamental economic principles of supply and demand dictate that such a supply squeeze could catapult Bitcoin's price to significantly higher altitudes in the near future.

供需之間不斷擴大的鴻溝有可能引發流動性危機，導致比特幣不足以滿足買家的貪婪胃口。供需的基本經濟原理表明，這種供應緊張可能會在不久的將來將比特幣的價格推向更高的高度。

However, analysts caution that an extreme dearth of market liquidity renders BTC susceptible to volatile price fluctuations in both directions, as large trades exert an amplified impact in illiquid conditions. Consequently, many experts emphasize the paramount importance for investors to meticulously monitor liquidity levels going forward.

然而，分析師警告稱，市場流動性極度缺乏，導致比特幣容易受到雙向價格波動的影響，因為大額交易在流動性不足的情況下會產生放大的影響。因此，許多專家強調投資者密切監控未來流動性水平至關重要。

Bitcoin Price Outlook: Analysts Weigh In

比特幣價格前景：分析師的看法

Prominent crypto analysts have offered their insights into the future trajectory of Bitcoin's price. Analyst Mags anticipates BTC may continue its sideways trading pattern for the foreseeable future, hovering near its recent all-time high of $70,000. Mags draws parallels to the 2016 halving cycle, wherein the price consolidated for approximately 150 days before embarking on its historic bull run.

著名的加密貨幣分析師提出了他們對比特幣價格未來走勢的見解。分析師 Mags 預計，在可預見的未來，比特幣可能會繼續橫盤交易模式，徘徊在近期歷史高點 7 萬美元附近。 Mags 與 2016 年減半週期相似，其中價格盤整了大約 150 天，然後開始了歷史性的牛市。

Mags advises that any short-term dips in Bitcoin's price should be perceived as a prime opportunity to acquire cheap exposure before the market inevitably resumes its parabolic ascent. Similarly, analyst Ali attentively observes the short-term technical picture, discerning a potential head-and-shoulders pattern that could propel BTC as high as $74,760 if it successfully breaches the neckline resistance at $71,580.

Mags 建議，比特幣價格的任何短期下跌都應被視為在市場不可避免地恢復拋物線上漲之前獲得廉價敞口的絕佳機會。同樣，分析師 Ali 仔細觀察了短期技術面，發現了潛在的頭肩形態，如果 BTC 成功突破頸線阻力位 71,580 美元，可能會推動 BTC 升至 74,760 美元。

With less than 20 days remaining until the next Bitcoin halving, history suggests that this event typically acts as a potent bullish catalyst by drastically reducing the rate at which new coins are introduced into the market. Investors worldwide will undoubtedly be watching closely to ascertain whether this cycle will deviate from the norm.

距離下一次比特幣減半還有不到 20 天的時間，歷史表明，這一事件通常會大幅降低新幣進入市場的速度，從而成為強有力的看漲催化劑。毫無疑問，全球投資者將密切關注這一周期是否會偏離常態。

Conclusion

結論

The Bitcoin market stands at a critical juncture, with a potential liquidity crisis looming on the horizon. The combination of skyrocketing demand and dwindling supply has created a supply-demand imbalance that could send shockwaves through the market. While analysts anticipate a positive price trajectory for BTC, they caution that the extreme lack of liquidity could lead to unpredictable price swings. Investors are advised to vigilantly monitor liquidity levels and exercise prudence in their trading strategies.

比特幣市場正處於關鍵時刻，潛在的流動性危機迫在眉睫。需求飆升和供應減少相結合造成了供需失衡，可能會給市場帶來衝擊波。儘管分析師預計比特幣的價格走勢將呈現正面趨勢，但他們警告稱，流動性的極度缺乏可能會導致不可預測的價格波動。建議投資者密切注意流動性水準並謹慎制定交易策略。