投資者情緒達到6個月的低點，因為比特幣攤位低於$ 90k

隨著宏觀經濟的不確定性和美國總統唐納德·特朗普（Donald Trump）的不穩定政策決定，比特幣和美國股票正面臨越來越大的壓力。

Bitcoin and US equities are facing mounting pressure as macroeconomic uncertainty and erratic policy decisions from US President Donald Trump continue to shake investor confidence.

隨著宏觀經濟的不確定性和美國總統唐納德·特朗普（Donald Trump）的不穩定政策決定，比特幣和美國股票正面臨越來越大的壓力。

With unexpected tariff announcements and unstable foreign policy stances dominating headlines, markets have become increasingly volatile. Bitcoin, often seen as a hedge against traditional market instability, has entered a consolidation phase around the $85,000 level.

隨著意外關稅公告和不穩定的外交政策立場主導著頭條新聞，市場變得越來越波動。比特幣通常被視為對沖傳統市場不穩定的對沖，已經在85,000美元的水平上進入了合併階段。

After weeks of sharp price swings, BTC appears to be gathering momentum for its next major move—up or down.

經過數週的價格波動，BTC似乎正在為下一個重大行動（以下行動）收集動力。

Despite hopes for a strong recovery following its all-time high earlier this year, sentiment across the crypto space has grown increasingly bearish. According to new data from CryptoQuant, investor and trader outlook on Bitcoin has shifted significantly.

儘管在今年早些時候有史以來高度恢復後，人們希望能有很強的恢復，但整個加密貨幣領域的情緒越來越多。根據CryptoQuant的新數據，對比特幣的投資者和交易員前景已經發生了重大變化。

The Bitcoin Sentiment Vote – Up or Down chart reveals a clear transition toward negative sentiment, with a majority now betting against further short-term gains. This trend mirrors conditions last seen in September 2024, just before the market’s last major rally.

比特幣情緒投票 - 向上或下圖揭示了向負面情緒的明確過渡，現在多數賭注對進一步的短期收益進行下注。這一趨勢反映了2024年9月的最後一次條件，就在市場上一次重大集會之前。

With sentiment turning sour and price action narrowing, Bitcoin’s current position at $85K has become a battleground for bulls and bears. Whether this period of indecision resolves in a breakout or breakdown may depend heavily on broader economic developments and investor reaction to continued political instability.

隨著情緒變酸和價格行動的變化，比特幣目前在8.5萬美元處的頭寸已成為公牛和熊的戰場。這一猶豫不決的時期是否在突破或崩潰中解決可能在很大程度上取決於更廣泛的經濟發展和投資者對持續的政治動蕩的反應。

Investor Sentiment Hits 6-Month Low As Bitcoin Stalls Below $90K

投資者情緒達到6個月的低點，因為比特幣攤位低於$ 90k

Investors face a crucial moment as Bitcoin trades in a tight range, struggling to reclaim key resistance levels while holding above critical support.

當比特幣交易處於緊密的範圍內，投資者面臨著關鍵的時刻，努力地恢復了關鍵阻力水平，同時保持了關鍵的支持。

Despite attempts to initiate a recovery, bulls have been unable to generate enough momentum to push prices meaningfully higher, while bears have failed to force a decisive breakdown. This ongoing stalemate has heightened market tension.

儘管試圖開始恢復，但公牛仍無法產生足夠的動力來提高價格，而熊則未能迫使果斷的崩潰。這種持續的僵局增強了市場緊張局勢。

The failure to reclaim the $90K level and hold above $85K consistently has led some analysts to question whether the current cycle is still intact. The pressure on bulls to prove the continuation of the bull run is mounting, as sentiment begins to shift toward a more cautious—or even bearish—outlook.

未能收回$ 90K的水平並持續持有85,000美元以上，這使一些分析師質疑當前週期是否仍然完好無損。隨著情緒開始向更謹慎（甚至看跌）的外觀，對公牛的壓力證明了牛的延續。

Top analyst Axel Adler shared insights on X that paint a sobering picture. According to Adler, after Bitcoin reached its ATH, sentiment took a sharp turn for the worse.

頂級分析師阿克塞爾·阿德勒（Axel Adler）在X上分享了X繪製清醒圖片的見解。根據阿德勒的說法，比特幣達到其ATH之後，情緒變得更糟。

This shift is clearly illustrated in the Bitcoin Sentiment Vote – Up or Down chart. The current quarterly sentiment ratio has dropped to levels not seen since September 2024, just before the market’s last major rally.

在比特幣情緒投票中清楚地說明了這一轉變 - 向上或向下圖表。自2024年9月，就在市場上一次重大集會之前，當前的季度情緒比率已下降到從未見過的水平。

While it’s possible that this bearish sentiment could serve as a contrarian indicator—signalling a bottom—many believe it reflects deeper uncertainty.

雖然這種看跌的情緒可能是一個逆勢指標（底部簽名），但它認為它會反映出更深層的不確定性。

With macroeconomic instability and geopolitical concerns on the rise, Bitcoin’s next move will be crucial in determining whether the broader market sees a renewed uptrend or enters a prolonged bearish phase.

隨著宏觀經濟的不穩定和地緣政治的關注，比特幣的下一步行動對於確定更廣泛的市場是否會看到更新的上升趨勢或進入延長的看跌階段至關重要。

As traders watch the $85K–$90K zone closely, the coming days may be decisive for BTC’s trajectory in 2024.

當交易員密切關注$ 85K - $ 90K的區域時，未來幾天對於2024年BTC的軌跡可能是決定性的。

Bulls Face Growing Pressure

公牛面臨日益嚴重的壓力

Bitcoin is currently trading at $84,200, holding just below the critical $85,000 level where both the 200-day moving average (MA) and exponential moving average (EMA) converge.

比特幣目前的交易價格為84,200美元，距離關鍵的85,000美元低於200天的移動平均水平（MA）和指數移動平均水平（EMA）融合。

This area has become a significant resistance zone, and bulls have struggled to push past it. To initiate a strong recovery rally, BTC must break above the $88,000 level—this would confirm momentum and could trigger a swift move back toward the psychological $90,000 mark.

該地區已成為一個重要的抵抗區，公牛隊一直在努力克服它。為了發起強大的恢復集會，BTC必須超過88,000美元的水平，這將確認動力，並可能迅速轉移到心理上的90,000美元大關。

For now, price action remains range-bound and uncertain, with bearish sentiment still weighing on the market. While BTC has managed to hold above short-term support at $82,000, the inability to reclaim the 200-day MA/EMA cluster raises concerns about further downside pressure.

目前，價格行動仍然存在範圍和不確定性，看跌的情緒仍在市場上。儘管BTC設法以82,000美元的價格保持了短期支持，但無法收回200天的MA/EMA群集引起了人們對進一步下行壓力的擔憂。

If bulls fail to defend current demand and the price drops below $82,000, a retest of the $81,000 level is likely. Losing that support could open the door for a deeper correction toward the $78,000–$75,000 range. This scenario would further shake investor confidence and reinforce the growing narrative that the market is transitioning into a longer consolidation or bearish phase.

如果公牛沒有捍衛當前的需求，而價格下跌了82,000美元，則可能會重新測試81,000美元的水平。失去支持可能會為78,000-75,000美元的範圍更深入地更正。這種情況將進一步動搖投資者的信心，並增強了越來越多的敘述，即市場正在過渡到更長的鞏固或看跌階段。

The coming days are critical, and all eyes remain on BTC’s ability to flip $85K into support and target higher resistance zones.

接下來的日子至關重要，所有目光都關注BTC將$ 85K投入支撐並針對更高阻力區域的能力。