After Spending Most of February Trading Within a Range, Bitcoin (BTC) Has Broken Below the Consolidation Zone

在2月份的大部分交易範圍內花費了大部分時間之後，比特幣（BTC）在合併區以下損壞，自11月以來首次下跌了90,000美元。

Bitcoin (BTC) price slipped below $90,000 for the first time since November, continuing its downward trajectory.

The world’s leading cryptocurrency is currently trading at $88,956, and while it did manage to recover slightly, it seems that the bears might have more room to run in March.

全球領先的加密貨幣目前的交易價格為88,956美元，雖然確實稍微恢復了，但似乎三月份的熊隊可能有更多的空間。

After spending most of February trading within a range, Bitcoin broke below the consolidation zone and continued slipping lower.

This downturn signals growing bearish pressure, especially with lead analyst at Santiment, Brian, highlighting that Bitcoin whales are reducing their trading activity, which might lead to further declines in the coin’s value.

這種低迷的信號表明看跌壓力，尤其是在santiment的首席分析師布萊恩（Brian）的牽頭分析師中強調，比特幣鯨正在減少其交易活動，這可能會導致硬幣價值進一步下降。

“Bitcoin whales seem to have taken a bit of a breather and aren’t accumulating at the moment (mostly staying flat). We’re used to seeing large BTC holders either massively buy or sell, but they’ve become rather indifferent as of late,” Brian told BeInCrypto.

“Bitcoin whales seem to have taken a bit of a breather and aren't accumulating at the moment (mostly staying flat).我們習慣於看到大型BTC持有人大量購買或出售，但截至最近他們變得漠不關心。” Brian告訴Beincrypto。

This is supported by data from IntoTheBlock, which shows that the Bitcoin large holders netflow index plummeted by over 600% in the past 30 days.

這是由Intotheblock的數據支持的，該數據表明，比特幣大持有人Netflow指數在過去30天中下降了600％以上。

Large holders are defined as whale addresses that hold more than 0.1% of an asset’s circulating supply. The netflow measures the difference between the total coins these investors bought and sold over a specific period.

When it decreases, it signals that key investors are reducing their token holdings, which may exacerbate the downward pressure on BTC’s price as supply increases in the market.

當它減少時，它表明主要投資者正在減少其代幣持有量，這可能會隨著市場供應的增加而加劇BTC價格的下降壓力。

This contrasts with the recent statement by Ledn’s Chief Investment Officer (CIO) John Glover, who predicts that BTC will likely remain range-bound between $89,000 and $108,000 in March.

這與萊德（Ledn）首席投資官（CIO）約翰·格洛弗（John Glover）最近發表的聲明形成鮮明對比，後者預測BTC可能會在3月的89,000美元至108,000美元之間保持範圍。

“From a technical perspective, BTC is following 1 of 2 paths. In the first place, there is good potential for a dip to $89,000 or even $77,000 before the next rally. In the second, we have already seen the lows, and the next move will be higher, up to ~$130,000. It’s impossible to predict which path we’re on, and short-term predictions are meaningless when intraweek/intra-month moves are dictated by news and, recently, by the actions of big players like Strategy. My personal view is that we remain stuck in a range of $89,000 to 108,000 in March,” Glover explained.

“從技術角度來看，BTC遵循2條路徑中的1個。 In the first place, there is good potential for a dip to $89,000 or even $77,000 before the next rally.在第二個中，我們已經看到了低點，下一步將更高，最高約為130,000美元。不可能預測我們正在走的道路，而短期預測是毫無意義的/一月/月內動作是由新聞決定的，而最近，諸如策略之類的大參與者的行動都決定了。我個人的看法是，三月份我們仍處於89,000至108,000美元的範圍內。”格洛弗解釋說。

Moreover, given President Donald Trump’s pro-crypto stance, some investors are curious about how his policies might affect Bitcoin’s price in March. However, Glover believes that the "Trump effect" has been largely felt.

此外，鑑於唐納德·特朗普總統的親克賴特托立場，一些投資者對他的政策可能如何影響比特幣的價格感到好奇。但是，格洛弗認為“特朗普效應”在很大程度上被認為。

“The majority of the "Trump effect" has already been felt. We know he is very supportive of digital assets and has set in motion his plans to streamline regulations associated with crypto. I don’いきましょう

“大多數“特朗普效應”已經感覺到。我們知道他非常支持數字資產，並啟動了他的計劃簡化與加密貨幣相關的法規。我不