比特币（BTC）遵循“扩音器模式”，将潜在上行势头的顶级加密货币定位

根据Crypto Trader Merlijn的X帖子，Trader，比特币（BTC）遵循“ Megaphone模式”，为潜在的上空势头的顶级加密货币定位。但是，BTC必须保持超过72,000美元的价格水平才能发挥作用。

Crypto trader Merlijn The Trader has pointed out on X that Bitcoin (BTC) is following the ‘megaphone pattern’ which could position the cryptocurrency for upside momentum. However, BTC must stay above the $72,000 price level for the pattern to play out.

Crypto Trader Merlijn交易员在X上指出，比特币（BTC）正在遵循“超电机模式”，这可以定位加密货币的上空动量。但是，BTC必须保持超过72,000美元的价格水平才能发挥作用。

Earlier today, BTC tumbled below the critical $80,000 price level, hitting a low of $78,390 on the Binance cryptocurrency exchange. At the time of writing, the flagship digital asset has a total market cap of $1.57 trillion.

今天早些时候，BTC的价格低于80,000美元的关键价格水平，在Binance Cryptocurrency Exchange上跌至78,390美元。在撰写本文时，旗舰数字资产的总市值为1.57万亿美元。

Despite the recent slump, crypto analysts remain confident in BTC’s long-term bullish outlook. Sharing a monthly trading chart, Merlijn The Trader highlighted that Bitcoin is following the broadening wedge, also known as the megaphone pattern.

尽管最近的低迷，加密分析师仍然对BTC的长期看涨前景充满信心。交易者梅利恩（Merlijn）共享一个每月的交易图表，强调比特币正在遵循扩展的楔形物，也称为扩音器模式。

For the uninitiated, the megaphone pattern, or broadening wedge, is a technical chart formation where Bitcoin’s price exhibits higher highs and lower lows, creating an expanding shape. This pattern signals increasing volatility and market indecision, typically preceding a strong breakout or breakdown.

对于初学者而言，扩音器模式或宽阔的楔形物是技术图表的形成，比特币的价格显示出更高的高点和较低的低点，从而创造出扩展的形状。这种模式标志着增加波动性和市场犹豫不决，通常是在强烈的突破或崩溃之前。

While there is a risk of BTC breaking down from its current range, historical trends suggest that the digital asset is likely to break out to a higher price range. The chart shows how BTC has historically broken to the upside – highlighted in green – from previous market cycle tops, successfully re-tested the breakout, and then entered a parabolic phase.

尽管BTC从目前的范围中崩溃有风险，但历史趋势表明，数字资产可能会爆发到更高的价格范围。该图表显示了BTC历史上如何从以前的市场周期上衣中突出的上升空间（以绿色突出显示），成功地重新测试了突破，然后进入了抛物线阶段。

The chart also highlights that market cycle tops have typically coincided with an MVRV Z-Score trendline. Currently, the MVRV Z-Score is well below the red trendline, suggesting that BTC may still have room to rise before any significant correction.

该图表还强调，市场周期顶部通常与MVRV Z分数趋势线相吻合。目前，MVRV Z得分远低于红色趋势线，这表明BTC在任何重大校正之前可能仍有增加空间。

To explain, the MVRV Z Score for Bitcoin is a metric that compares the market value of BTC to its realized value, helping to identify overbought or oversold conditions. A high MVRV Z-score suggests Bitcoin may be overvalued, while a low score indicates it could be undervalued.

为了解释，比特币的MVRV Z得分是一个将BTC的市场价值与其实现价值进行比较，有助于识别过度购买或超卖条件。高MVRV Z分数表明比特币可能被高估，而低分表明它可能被低估。

According to the chart, BTC’s current MVRV Z-Score is around 2. In the last three market cycles, this score has typically topped slightly above 4.

根据图表，BTC当前的MVRV Z分数约为2。在最近三个市场周期中，该分数通常高于4。

BTC Remains In Volatile Territory

BTC仍处于挥发性领域

Despite US President Donald Trump following through on his promises of creating a favorable regulatory environment for cryptocurrencies and establishing a Strategic Bitcoin Reserve (SBR), the digital asset’s price has failed to reflect the positive developments.

尽管美国总统唐纳德·特朗普（Donald Trump）遵循了他的承诺，即为加密货币创造有利的监管环境并建立了战略性比特币储备（SBR），但数字资产的价格未能反映出积极的发展。

Experts believe that escalating tariff tensions and the possibility of a potential economic recession may be negatively affecting BTC’s price action. Coinbase analysts attribute BTC’s recent slump to the “absence of positive catalysts.”

专家认为，关税紧张局势升级和潜在经济衰退的可能性可能会对BTC的价格行动产生负面影响。 Coinbase分析师将BTC最近的低迷归因于“没有阳性催化剂”。

Further, crypto analyst Ali Martinez recently remarked that BTC may face further downside to $75,000 before it finds relief from the ongoing price correction.

此外，加密分析师阿里·马丁内斯（Ali Martinez）最近表示，BTC可能会进一步面对75,000美元，然后才能缓解持续的价格更正。

At press time, BTC trades at $78,500, down 4.5% in the past 24 hours.

发稿时，BTC的交易价格为78,500美元，在过去24小时内下跌4.5％。