随着 Coinbase 溢价差距触及 2020 年 10 月以来的最高水平，比特币 (BTC) 面临市场情绪转变

比特币面临大幅回调，较历史高点 108,300 美元下跌 15%。此次价格下跌标志着市场情绪的急剧转变

Bitcoin price has undergone a significant correction, dropping roughly 15% from its recent all-time high at $108,300. This price decline marks a sharp shift in market sentiment, which has quickly transitioned from an extremely bullish outlook to one of uncertainty and caution. As altcoins experience heavy losses, Bitcoin’s correction has raised concerns about the sustainability of the recent rally.

比特币价格经历了大幅调整，较近期历史高点 108,300 美元下跌约 15%。此次价格下跌标志着市场情绪的急剧转变，市场情绪已迅速从极度乐观的前景转变为不确定和谨慎的前景。随着山寨币遭受重创，比特币的回调引发了人们对近期涨势可持续性的担忧。

Top analyst Maartunn recently highlighted that this correction aligns with the most significant Coinbase selling activity since October 26, when BTC was trading at $66,000. This increase in selling pressure is a clear signal of a shift from a bullish market to one filled with fear and hesitation. The combination of reduced buying activity and rising selling pressure suggests that the market is struggling to maintain its upward momentum.

顶级分析师 Maartunn 最近强调，这次调整与 10 月 26 日以来最重要的 Coinbase 抛售活动一致，当时 BTC 交易价格为 66,000 美元。抛售压力的增加是一个明确的信号，表明市场从牛市转向充满恐惧和犹豫的市场。购买活动减少和抛售压力上升表明市场正在努力维持上涨势头。

As BTC navigates this volatile phase, investors are watching closely to see if the market can stabilize or if further declines are imminent. The next few days could be crucial in determining whether the recent correction marks the beginning of a larger downtrend or if Bitcoin can regain its bullish footing.

随着比特币经历这个波动阶段，投资者正在密切关注市场是否能够企稳，或者是否即将进一步下跌。接下来的几天对于确定最近的调整是否标志着更大的下跌趋势的开始，或者比特币是否可以重新站稳脚跟至关重要。

Bitcoin Sentiment Shifts

比特币情绪转变

Market sentiment, a key driver of price action, has shifted rapidly from bullish to fearful, with Bitcoin now testing the $92,000 mark to find support. While the price itself hasn’t experienced an aggressively sharp decline, the broader market is seeing heavy losses, particularly among altcoins. This suggests that the risk of a more significant correction is increasing as market participants scramble to adjust to the change in sentiment.

市场情绪是价格走势的关键驱动因素，已迅速从看涨转变为恐惧，比特币目前正在测试 92,000 美元大关以寻求支撑。虽然价格本身并没有经历大幅下跌，但更广泛的市场正在遭受严重损失，尤其是山寨币。这表明，随着市场参与者争先恐后地适应情绪变化，出现更大幅度调整的风险正在增加。

CryptoQuant analyst Maartunn highlighted the Bitcoin Coinbase premium gap, showing that selling activity on Coinbase has surged to its highest level since October 26, when BTC was trading at $66,000.

CryptoQuant 分析师 Maartunn 强调了比特币 Coinbase 溢价差距，表明 Coinbase 上的销售活动已飙升至 10 月 26 日以来的最高水平，当时 BTC 交易价格为 66,000 美元。

This spike in selling pressure signals that many investors are taking profits or potentially exiting positions as the market sentiment turns negative. The significant selling volume indicates a possible shift from optimism to caution, with the potential for further downside if the market does not regain confidence soon.

抛售压力的激增表明，随着市场情绪转为负面，许多投资者正在获利了结或可能退出头寸。大量抛售表明市场可能从乐观转向谨慎，如果市场不能很快恢复信心，则可能进一步下跌。

Despite this, the outlook remains uncertain. Many analysts believe BTC still has room to rise, with some suggesting that recent price action may not necessarily indicate that the top has reached. The market is caught in a delicate balance as the price approaches critical support levels, and the next few days could be crucial in determining whether Bitcoin can bounce back or if further correction is in store.

尽管如此，前景仍然不确定。许多分析师认为，比特币仍有上涨空间，一些分析师认为，最近的价格走势可能并不一定表明已经达到顶部。随着价格接近关键支撑位，市场陷入微妙的平衡，未来几天对于决定比特币是否可以反弹或是否会进一步调整至关重要。

Price Action Challenging Bullish Structure

价格走势挑战看涨结构

Bitcoin is currently trading at $92,200, a critical level that must hold for bulls to maintain control over the price action. This level represents key support, and the price structure remains strong above it, suggesting that the recent retrace could merely be a shakeout rather than the start of a trend shift. If BTC can close above this mark in the coming days, there’s a strong chance for recovery, as it would confirm that the bulls are still in control.

比特币目前的交易价格为 92,200 美元，这是多头必须守住的关键水平，才能保持对价格走势的控制。该水平代表了关键支撑位，价格结构在该水平上方仍然强劲，表明近期的回调可能只是一次震荡，而不是趋势转变的开始。如果比特币在未来几天能够收于该水平之上，那么复苏的机会很大，因为这将证实多头仍然处于控制之中。

However, if Bitcoin fails to hold above $92,200 and loses this level, the situation will become more dire. A breakdown below this support could trigger a cascade of selling, taking Bitcoin to lower prices and potentially signaling the start of a deeper correction.

然而，如果比特币未能守住92,200美元上方并失去这一水平，情况将变得更加可怕。跌破这一支撑位可能会引发一连串抛售，导致比特币价格走低，并可能预示着更深层次调整的开始。

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The next few days are crucial in determining Bitcoin’s direction, as holding this level would help preserve the bullish momentum while losing it could set the stage for a more significant pullback. For now, traders and investors are closely watching how BTC reacts to this critical support level to gauge the market’s next move.

接下来的几天对于确定比特币的方向至关重要，因为保持这一水平将有助于保持看涨势头，而失去这一水平可能会为更大幅度的回调奠定基础。目前，交易员和投资者正在密切关注比特币对这一关键支撑位的反应，以判断市场的下一步走势。