比特币（BTC）Outlook显示出随着Stablecoin流动性的增加而显示的迹象

比特币的前景（BTC）显示出随着稳定流动性的增加而提高的迹象，关键市场指标表示潜力

The outlook for Bitcoin (BTC) is showing signs of improvement as stablecoin liquidity increases and a key market indicator signals a potential reversal of the recent deep correction.

比特币的前景（BTC）显示出随着稳定流动性的增加而提高的迹象，关键市场指标标志着最近深层校正的潜在逆转。

CryptoQuant highlighted a significant expansion in the market capitalization of Tether USD (USDT), which usually leads to rising Bitcoin prices.

加密量强调了Tether USD（USDT）市值的显着扩展，这通常会导致比特币价格上涨。

USDT’s market capitalization has grown by $5.75 billion over the past 60 days, exceeding its 60-day simple moving average of $3.46 billion. According to the on-chain analytics firm, this movement typically indicates fresh capital entering the crypto market, which could support price momentum.

在过去的60天中，USDT的市值增长了57.5亿美元，超过了60天的简单移动平均值34.6亿美元。根据链分析公司的说法，这一运动通常表明进入加密市场的新资本可以支持价格势头。

However, the liquidity injection is not triggering any short-term rebounds. The crypto market cap fell by 3.2% over the last 24 hours to reach $2.72 trillion. BTC also decreased by 3.3% during the same period, now trading at $80,411.98.

但是，流动性注入并未触发任何短期反弹。在过去的24小时内，加密市值下降了3.2％，达到2.72万亿美元。在同一时期，BTC也下降了3.3％，现在交易的价格为80,411.98美元。

Oversold territory

超卖领土

At the same time, on-chain data suggests that Bitcoin has reached an oversold zone following a period of strong correction.

同时，链上数据表明，在一段时间进行校正时，比特币已经到达了一个超售区。

CryptoQuant Korean community manager Crypto Dan pointed out that the proportion of Bitcoin holdings for less than one month surged in March and December 2024, reaching 23% and 24.5%, respectively.

加密韩国社区经理Crypto Dan指出，2024年3月和12月12日，比特币持有量不到一个月的比例分别达到23％和24.5％。

This pattern preceded a correction, bringing the Market Value to Realized Value (MVRV) ratio to 1.8, close to the 2024 correction’s low of 1.71. If Bitcoin falls to the $70,000 range, the MVRV ratio would surpass levels seen during past correction lows.

这种模式在校正之前，将市场价值提高到已实现的价值（MVRV）比率为1.8，接近2024校正的低点为1.71。如果比特币降至70,000美元的范围，则MVRV比率将超过过去校正低的水平。

However, market sentiment has weakened significantly, with altcoins surrendering most of the gains made over the past year. This suggests that further declines may not be necessary to reset the market, as it has already undergone substantial deleveraging.

但是，市场情绪已大大削弱，山寨币在过去一年中屈服于大部分收益。这表明重置市场可能不需要进一步下降，因为它已经经历了大量的去杠杆化。

Entering an oversold zone typically increases the probability of a rebound, though market conditions remain challenging.

进入超售区通常会增加反弹的可能性，尽管市场状况仍然具有挑战性。

The final phase of an upward cycle often involves heightened risk and investment difficulty, but as selling pressure lessens, the potential for a price recovery increases.

向上周期的最后阶段通常涉及风险和投资难度增加，但是随着销售压力的减轻，价格回收的可能性会增加。

Crypto Dan highlighted the strength and magnitude of any rebound, whale movements, and changes in on-chain data as key factors to monitor in the coming period. Additionally, correlations with traditional stock markets and macroeconomic trends will shape Bitcoin’s trajectory.

加密丹（Crypto Dan）强调了任何反弹，鲸鱼运动以及链上数据的变化的强度和幅度，这是在未来时期监视的关键因素。此外，与传统股票市场和宏观经济趋势的相关性将影响比特币的轨迹。

Lastly, he assessed that it is still too early to conclude that the market has entered a full-fledged bear cycle.

最后，他评估现在得出的结论还为时过早，市场已经进入了一个成熟的熊周期。