標題：廣泛遵循的Quant Analyst Planb表示，比特幣（BTC）的最新更正現在提出了有關其公牛週期是否處於結局的問題。

Planb在一項新的戰略會議上說，儘管鍊鍊數據表明比特幣仍處於公牛週期中，但自1月以來，缺乏新的歷史高潮，這表明熊市開始形成。

Quant analyst PlanB says the latest correction in Bitcoin (BTC) is now raising questions as to whether its bull cycle is on the verge of ending.

Quant Analyst Planb說，比特幣（BTC）的最新校正正在提出問題，即其牛週期是否處於結束狀態。

In a new strategy session, PlanB says that while on-chain data suggests Bitcoin remains in a bull cycle, a lack of new all-time highs since January may indicate a bear market is starting to form.

Planb在一項新的戰略會議上說，儘管鍊鍊數據表明比特幣仍處於公牛週期中，但自1月以來，缺乏新的歷史高潮，這表明熊市開始形成。

“Some questions about the Bitcoin market cycle chart. It is still measuring ‘bull market’ (red) in on-chain data. But as I explain in today’s video, we are at a crossroads.”

“有關比特幣市場週期圖表的一些問題。它仍在測量鏈上數據中的“牛市”（紅色）。但是，正如我在今天的視頻中所解釋的那樣，我們正處於十字路口。”

The analyst says there remains the potential of a V-shaped recovery after Bitcoin’s correction that tapped about $78,000 last week.

這位分析師說，在比特幣的校正上週挖掘了約78,000美元之後，V形恢復仍然存在。

“In bull markets, we can have multiple dips that are 20% or even 30% minus. However, it was still an unexpected dip. I expected more all-time highs after January’s all-time high and I expected February to be all-time high as well, above $102,000. So we’re really at the crossroads now.

“在牛市中，我們可以有多個跌幅為20％甚至30％。但是，這仍然是一個意想不到的下降。我預計在一月份的歷史最高水平之後，我希望有歷史新高，我預計2月也將有史以來高至102,000美元。因此，我們現在真的在十字路口。

Either we’ll have a red hot bull market, a continuation of the bull market, or we enter the distribution phase into a bear phase. So what will it be? I don’t know. That’s a big question. Was this the top and is this the start of the bear market, or will we see a V-shape recovery and more bull market action?”

要么我們要有一個紅熱的牛市，牛市的延續，要么我們進入分配階段進入熊階段。那將是什麼？我不知道。這是一個大問題。這是最高的，這是熊市的開始，還是我們會看到V形恢復和更多的牛市行動？”

Based on historic precedence, the analyst says Bitcoin is likely to rally from current prices and print new all-time highs.

根據歷史優先，分析師說，比特幣可能會從當前價格中加油並打印出新的歷史高潮。

“Yes, it has been at this crossroads each and every halving cycle. In all cycles the market has chosen bull/FOMO (fear of missing out) from here, but we have had only four cycles, not really enough to say something statistically sound. Fingers crossed for this fifth cycle.”

“是的，它一直處於每個減半週期的十字路口。在所有周期中，市場都從這裡選擇了公牛/FOMO（害怕錯過），但是我們只有四個週期，還不足以說出統計學上的聲音。手指在這個第五週期中交叉。”

Bitcoin is trading for $84,377 at time of writing, down 6.5% in the last 24 hours.

比特幣在寫作時的交易價格為84,377美元，在過去24小時內下跌6.5％。