當他認為目前的比特幣牛可能會結束時，他分享了加密首席執行官

隨著比特幣在$ 100,000大關以下的熊隊戰鬥時，Ki Young Ju最近斷言，目前的牛跑步可能比歷史上的任何人更長

The CryptoQuant CEO has shared when he believes the current Bitcoin bull run could end, suggesting this might be the longest one yet.

當他認為目前的比特幣公牛運行可能會結束時，他分享了這位隱秘的首席執行官，這表明這可能是迄今為止最長的。

As Bitcoin battles the bears below the $100,000 mark, Ki Young Ju recently asserted that the current bull run might extend longer than any in history, although he cautions that the coming months will prove decisive.

隨著比特幣與熊低於100,000美元的熊隊的戰鬥，Ki Young Ju最近斷言，目前的牛跑的延伸可能比歷史上的任何人更長，儘管他警告說，未來幾個月將證明是決定性的。

When the Bitcoin Bull Run Could End

當比特幣牛的跑步可能結束時

While examining on-chain indicators, he noted that Bitcoin teeters on the edge between a bullish surge and a potential bearish downturn. Ju predicts that this extended rally could persist until at least April 2025, a forecast he first made in May 2024, citing the Bitcoin growth rate difference metric.

在檢查鍊鍊指標時，他指出，比特幣搖搖欲墜，在看漲的激增和潛在的看跌衰退之間。 JU預測，這種延長的集會可能會持續到至少2025年4月，這是他於2024年5月首次進行的預測，理由是比特幣增長率差異。

However, he emphasized that the next one to two months will reveal whether demand rebounds or fades, potentially pushing indicators into a full downtrend.

但是，他強調，接下來的一到兩個月將揭示需求反彈還是淡出，有可能將指標推向完全下降。

Despite the downtrend, Ju has maintained his optimism, highlighting that Bitcoin dropping below $77,000 seems unlikely. Even in a worst-case scenario, he expects the asset to consolidate around that level for several months before climbing again, as previously reported by The Crypto Basic.

儘管下降趨勢，JU仍保持了樂觀的態度，強調比特幣跌至77,000美元以下似乎不太可能。即使在最壞的情況下，他也希望資產在幾個月之前在該水平上鞏固，然後再攀登，正如加密基礎基本的先前報導。

In his latest commentary, the CryptoQuant founder advised against aggressive leveraged bets in either direction, as he urged traders to exercise patience amid this decisive moment in the market.

這位加密素養的創始人在他的最新評論中建議在市場上這一決定性的時刻在這一決定性的時刻努力行使耐心。

Bitcoin in a Manipulation Phase, but Rebound Imminent

在操縱階段的比特幣，但反彈迫在眉睫

Meanwhile, market analyst Cas Abbé noted in a report today that Bitcoin currently lingers in a manipulation phase amid the bearish price action. He pointed out that bullish developments fail to spark upward momentum, with even positive stock market trends leaving Bitcoin unmoved.

同時，市場分析師CasAbbé今天在一份報告中指出，比特幣目前在看跌價格行動的操作階段徘徊。他指出，看漲的事態發展無法激發上升的動力，即使是積極的股票市場趨勢也使比特幣不動。

Abbé called attention to last September, when the asset hovered at a similar juncture before launching into its next significant climb. He asserted that there might be a brewing opportunity, as market forces may be setting the stage for a breakout, provided traders can navigate the current stagnation.

阿貝（Abbé）呼籲去年9月的注意，當時資產徘徊在一個相似的關頭，然後才進入下一個重要的攀登。他斷言，可能會有一個釀造機會，因為市場力量可能為突破奠定基礎，前提是交易者可以導航當前的停滯。

With BTC down 16.37% this month, February 2025, Bitcoinsensus, a market resource, called attention to the fact that the asset has closed February on a bearish note only twice since 2013, while March typically delivers bullish results over the past four years.

2025年2月的BTC本月下跌了16.​​37％，一種市場資源比特幣（Bitcoinsensus）引起了人們的注意，即資產自2013年以來僅在看跌兩次的情況下閉上了這一事實，而3月通常會在過去四年中提供看漲的結果。

As the asset looks to close its third bearish February in history, Bitcoinsensus emphasized that March often defies early-year dips, presenting the opportunity for a potential turning point for Bitcoin’s price.

由於資產似乎要關閉其歷史上的第三次看跌2月，比特幣強調，三月經常違反年初下降，為比特幣價格帶來了潛在的轉折點的機會。

Meanwhile, an analyst known as Master of Crypto observed that past bull cycles followed significant drops—around 35% in 2017 and 33% in 2021—with explosive rallies of 320% and 280%, respectively.

同時，一位被稱為加密貨幣大師的分析師觀察到，過去的牛週期大幅下降（2017年35％和2021年的33％），分別為320％和280％。

With Bitcoin recently shedding about 20%, he sees a similar setup unfolding. According to him, the market is largely volatile. Yet, there might be hope in whale activity, with over 26,000 BTC recently moved to long-term investment addresses, as disclosed by The Crypto Basic two days back.

隨著比特幣最近降低了約20％，他看到類似的設置正在展開。據他說，市場基本上是波動的。然而，正如Crypto Basic在兩天前所披露的那樣，鯨魚活動可能有希望，最近有26,000多個BTC轉移到了長期投資地址。

He also noted that the stablecoin index, an indicator of fresh capital inflows, is starting to rise. Notably, this is due to an injection of fresh capital in the form of stablecoin mints, which could bolster demand.

他還指出，穩定指數是新鮮資本流入的指標，開始上升。值得注意的是，這是由於以Stablecoin薄荷形式註入新的資本，這可能會增強需求。

Currently, Bitcoin trades for $85,432, down 2.75% in the past 24 hours.

目前，比特幣以85,432美元的價格交易，在過去24小時內下跌2.75％。