比特币（BTC）分析师在近期宏观引发的冲击后转向看跌，但基本面依然强劲

比特币 (BTC) 从 11 月初开始出现爆炸性势头。截至 12 月 4 日，领先的加密货币创下历史新高——历史上首次收于 10 万美元以上。

Bitcoin (BTC) price action appeared to lose steam last week as the cryptocurrency failed to break past the $100,000 price level. However, BTC managed to eke out a gain of 0.78% over the past seven trading days.

比特币 (BTC) 上周的价格走势似乎失去了动力，因为该加密货币未能突破 10 万美元的价格水平。然而，BTC 在过去 7 个交易日中勉强上涨了 0.78%。

In turn, the flagship digital asset outperformed 75% of the top 100 cryptocurrencies by market capitalization over a one-year period. BTC also closed in on a gain of 128.02% year-to-date (YTD) at press time.

反过来，这一旗舰数字资产在一年内的表现优于按市值计算的前 100 种加密货币中的 75%。截至发稿时，BTC 今年迄今 (YTD) 的涨幅也达到了 128.02%。

Despite the recent pullback, BTC price action appeared to be largely bullish throughout 2025. The cryptocurrency rallied by over 1,000% since January 1 and hit a new all-time high of $104,000 on December 4.

尽管最近出现回调，但 BTC 的价格走势在 2025 年似乎基本看涨。自 1 月 1 日以来，该加密货币上涨了 1,000% 以上，并于 12 月 4 日创下了 104,000 美元的历史新高。

However, the Federal Reserve announced on December 15 that it would only make two rate cuts in 2025. Both the stock market and the cryptocurrency market saw an immediate pullback. On December 20, as much as $310 billion in value stored in digital assets was erased.

然而，美联储12月15日宣布2025年仅降息两次，股市和加密货币市场立即出现回调。 12 月 20 日，数字资产中存储的价值高达 3100 亿美元被删除。

Several cryptocurrency researchers and analysts remained bullish on BTC in the long term. However, the recent macro-induced price drop sparked a wave of concern that the premier digital asset could see a steep correction before resuming its upward trajectory.

从长远来看，一些加密货币研究人员和分析师仍然看好比特币。然而，最近宏观引发的价格下跌引发了人们的担忧，人们担心这种主要的数字资产在恢复上行轨迹之前可能会出现大幅调整。

Here's a closer look at the BTC price performance over the past week, as well as an analysis of the factors that could be influencing the upcoming price action.

以下是对过去一周 BTC 价格表现的仔细观察，以及对可能影响即将到来的价格走势的因素的分析。

Cryptocurrency market analysis

加密货币市场分析

CryptoSlate tracks key metrics such as price performance, trading volume, and market capitalization to provide a holistic overview of the cryptocurrency market.

CryptoSlate 跟踪价格表现、交易量和市值等关键指标，以提供加密货币市场的整体概览。

CryptoSlate provides a snapshot of the market performance over the past seven trading days. The total market capitalization increased by 0.4%, with a total 7-day trading volume of $344.9 billion.

CryptoSlate 提供了过去 7 个交易日的市场表现快照。总市值增长0.4%，7天总交易量为3449亿美元。

Bitcoin price analysis

比特币价格分析

BTC price action appeared to lose steam last week as the cryptocurrency failed to break past the $100,000 price level. However, BTC managed to eke out a gain of 0.78% over the past seven trading days.

由于加密货币未能突破 10 万美元的价格水平，上周 BTC 的价格走势似乎失去了动力。然而，BTC 在过去 7 个交易日中勉强上涨了 0.78%。

In turn, the flagship digital asset outperformed 75% of the top 100 cryptocurrencies by market capitalization over a one-year period. BTC also closed in on a gain of 128.02% year-to-date (YTD) at press time.

反过来，这一旗舰数字资产在一年内的表现优于按市值计算的前 100 种加密货币中的 75%。截至发稿时，BTC 今年迄今 (YTD) 的涨幅也达到了 128.02%。

Despite the recent pullback, BTC price action appeared to be largely bullish throughout 2025. The cryptocurrency rallied by over 1,000% since January 1 and hit a new all-time high of $104,000 on December 4.

尽管最近出现回调，但 BTC 的价格走势在 2025 年似乎基本看涨。自 1 月 1 日以来，该加密货币上涨了 1,000% 以上，并于 12 月 4 日创下了 104,000 美元的历史新高。

The price of Bitcoin (BTC) has been on a roller coaster ride in recent months, hitting a new all-time high of $104,000 on December 4. However, the cryptocurrency’s price took a nosedive on December 20 after the Federal Reserve announced that it would only make two rate cuts in 2025. Both the stock market and the cryptocurrency market saw an immediate pullback. On December 20, as much as $310 billion in value stored in digital assets was erased.

近几个月来，比特币 (BTC) 的价格经历了过山车式的波动，于 12 月 4 日创下了 104,000 美元的历史新高。然而，在美联储宣布将在 12 月 20 日宣布将在 12 月 20 日实施加密货币政策后，比特币的价格暴跌。 2025 年只降息两次。股市和加密货币市场都立即回调。 12 月 20 日，数字资产中存储的价值高达 3100 亿美元被删除。

Several cryptocurrency researchers and analysts remained bullish on BTC in the long term. However, the recent macro-induced price drop sparked a wave of concern that the premier digital asset could see a steep correction before resuming its upward trajectory.

从长远来看，一些加密货币研究人员和分析师仍然看好比特币。然而，最近宏观引发的价格下跌引发了人们的担忧，人们担心这种主要的数字资产在恢复上行轨迹之前可能会出现大幅调整。

Here’s a closer look at the BTC price performance over the past week, as well as an analysis of the factors that could be influencing the upcoming price action.

以下是对过去一周 BTC 价格表现的仔细观察，以及对可能影响即将到来的价格走势的因素的分析。

Relative strength index (RSI)

相对强弱指数（RSI）

The RSI is a technical analysis indicator that measures the magnitude of recent price changes to determine whether an asset is overbought or oversold. An RSI reading above 70 usually indicates an overbought condition, while a reading below 30 typically indicates an oversold condition.

RSI是一种技术分析指标，衡量近期价格变化的幅度，以确定资产是否超买或超卖。 RSI 读数高于 70 通常表明超买状况，而读数低于 30 通常表明超卖状况。

The RSI for BTC on the 4-hourの時間枠 stood at 49.9 at press time, indicating neutral price momentum. The RSI has been trending sideways over the past week, with a slight uptick on December 25.

截至发稿时，BTC 4 小时的 RSI 为 49.9，表明价格势头中性。 RSI 过去一周呈横盘趋势，12 月 25 日小幅上涨。

Bollinger Bands

布林线

Bollinger Bands are a technical analysis indicator that measures the volatility of an asset’s price. The bands are typically plotted two standard deviations away from a simple moving average (SMA) of the asset’s closing price over a specified period of time.

布林线是衡量资产价格波动性的技术分析指标。这些带通常绘制为与指定时间段内资产收盘价的简单移动平均线 (SMA) 相差两个标准差。

The Bollinger Bands for BTC on the 4-hourの時間枠 were converging at press time, indicating a period of low volatility. The upper Bollinger Band was situated at the 99,240 price level, while the lower Bollinger Band was positioned at the 92,143 price level.

截至发稿时，BTC 4 小时布林带正在收敛，表明波动性较低。布林通道上轨位于99,240价位，而布林通道下轨则位于92,143价位。

Ichimoku Cloud

一目云

The Ichimoku Cloud

一目均衡表云