比特币（BTC）价格测试较低的需求水平，市场情绪分裂

比特币已下跌低于$ 10万美元，引起了投资者的关注。自1月中旬以来，BTC一直在侧面移动。

Bitcoin price dropped below the $100K mark on Monday, as the world’s largest cryptocurrency by market capitalization continued to trade within a narrow range.

周一，比特币的价格下跌以下，因为按市值通过市值持续贸易范围内，全球最大的加密货币。

Since mid-January, BTC price has been moving sideways, trading between all-time highs (ATH) and the $97,750 level.

自1月中旬以来，BTC价格一直在侧向移动，在历史高峰（ATH）和97,750美元之间的交易。

The price struggles to find a clear direction, making the next few days crucial for determining Bitcoin’s next move.

价格努力寻找明确的方向，这对于确定比特币的下一步行动至关重要。

Bitcoin Price Pulls Back from ATH

比特币价格从ATH退回

After hitting a new ATH of $104,000 on January 19, Bitcoin price has been pulling back. The coin dropped to lows of $97,750 on Monday, marking a decline of over 6% from the recent highs.

在1月19日达到了104,000美元的新ATH之后，比特币价格一直在退缩。周一，硬币下降到97,750美元，标志着最近的高点下降了6％以上。

Bitcoin price has been trading within a tight range for the past few weeks. The coin has failed to break above the $104,000 level or below the $97,750 zone.

在过去的几周中，比特币的价格一直在紧密的范围内。硬币未能超过104,000美元或低于$ 97,750的区域。

This consolidation has left many investors wondering whether BTC price will continue to rise or if it has already peaked.

这种合并使许多投资者想知道BTC价格是否会继续上涨，或者是否已经达到顶峰。

Market Sentiment: Bulls vs. Bears

市场情绪：公牛与熊

The crypto market is divided over Bitcoin’s next move. Some investors believe that the recent pullback is a normal correction before Bitcoin moves higher.

加密货币市场在比特币的下一步行动上分歧。一些投资者认为，在比特币移动更高之前，最近的回调是正常的纠正。

They expect BTC to reach $110K and beyond. Others think Bitcoin has already peaked and may enter a long-term correction.

他们预计BTC将达到11万美元及以后。其他人认为比特币已经达到顶峰，可能会进行长期更正。

“Bitcoin is still in a bull market, and these pullbacks are to be expected,” said one bull.

一位公牛说：“比特币仍处于牛市状态，可以预期这些回调。”

“The next few days will be crucial in determining whether Bitcoin will continue to rise or if it will correct further. I’m personally expecting BTC to reach $110K before any major correction.”

“接下来的几天对于确定比特币是否会继续上升或是否进一步纠正至关重要。我个人预计BTC在任何重大更正之前将达到11万美元。”

On the other hand, some bears believe that Bitcoin is already in a bubble and that the recent pullback is a sign of the bubble bursting.

另一方面，有些熊认为比特币已经在泡沫中，最近的回调是泡沫破裂的标志。

They expect BTC to correct to $50K or even lower in the coming months.

他们预计BTC在未来几个月内将纠正至5万美元甚至更低。

“Bitcoin has already peaked, and this pullback is just the beginning,” said one bear.

一只熊说：“比特币已经达到顶峰，这种回调只是开始。”

“The crypto market is in a bubble, and it’s about to burst. I expect Bitcoin to correct to $50K or even lower before this is over.”

“加密市场正处于泡沫状态，即将破裂。我预计比特币在结束之前将纠正至5万美元，甚至更低。”

On-Chain Metrics Show Moderate Optimism

链上指标表现出适度的乐观

On-chain metrics provide a different outlook on Bitcoin’s current state.

链上指标对比特币当前状态提供了不同的前景。

The adjusted net unrealized profit/loss (aNUPL) indicator, which measures the unrealized P&L of all Bitcoin holders in relation to the realized cap, suggests that Bitcoin is in a healthy zone but not yet in a bubble.

调整后的未实现的净盈利/损失（ANUPL）指标，该指标衡量了与已实现的帽子有关的所有比特币持有人未实现的损益，这表明比特币处于健康区域，但尚未处于泡沫中。

This indicator is used to gauge the overall market sentiment and to identify potential turning points in the Bitcoin bull cycle.

该指标用于评估总体市场情绪，并确定比特币牛周期中潜在的转折点。

According to the aNUPL indicator, Bitcoin is currently in a strong phase, but it has not yet reached overheated levels.

根据ANUPL指标，比特币目前处于强大的阶段，但尚未达到过热水平。

Bitcoin Price Action: Key Support Levels

比特币价格动作：关键支持水平

Bitcoin price is now testing lower demand levels, with the next key support being at $97,500.

比特币价格现在正在测试较低的需求水平，下一个主要支持为97,500美元。

For a bullish recovery, Bitcoin must quickly reclaim the $100K level. A strong move above this level could trigger a rally to new highs.

为了获得看涨的恢复，比特币必须迅速收回$ 10万美元的水平。高于此水平的强劲动作可能会引发集会到新的高点。

However, if the bulls fail to step in and buy the dip, BTC could see more selling pressure, which may lead to a drop to the next support level at $95,000.

但是，如果公牛队未能介入并购买蘸酱，BTC可能会看到更多的销售压力，这可能会导致下一个支持水平下降，为95,000美元。

What’s Next for Bitcoin?

比特币的下一步是什么？

Bitcoin price remains in a critical phase, with the next few days being important for determining the coin’s next move.

比特币价格仍然处于关键阶段，接下来的几天对于确定硬币的下一步行动很重要。

The market is highly volatile, and traders are watching the price action closely. If BTC stays above the $97,500 level, it could set up for a recovery.

市场非常波动，交易者正在密切关注价格行动。如果BTC停留在$ 97,500的水平上，则可以设置为恢复。

But if the selling pressure increases and the coin drops below this zone, the price may continue to fall before finding support at lower levels.

但是，如果销售压力增加，硬币下降到该区域以下，那么在较低水平的支持之前，价格可能会继续下降。

Bitcoin price is now at a crossroads, and the next move will be crucial for determining the coin’s future direction.

比特币价格现在处于十字路口，下一步对于确定硬币的未来方向至关重要。

Investors should prepare for more price swings in the coming days as Bitcoin decides its next move.

由于比特币决定其下一步行动，投资者应在未来几天内为更多的价格波动做准备。