比特币（BTC）努力保持趋势超过80,000美元

在看涨期望的中间，看跌的可能性正在发出巨大的声音，尚未达到底部的信号

The lack of bullish strength may not keep up the rally elevated for a long time as Bitcoin struggles to keep up the trend above $80,000.

由于比特币努力使趋势超过80,000美元，因此缺乏看涨的力量可能不会长期提高集会。

The bearish possibilities are making huge noises in the middle of bullish expectations, and they may not yet signal the bottom is reached.

看跌的可能性在看涨期望的中间发出了巨大的声音，它们可能尚未表明达到底部。

It is quite evident that President Donald Trump’s divisive policies around job cuts and tariff wars have crashed the U.S. stock market. Meanwhile, a significant negative impact has also been seen in the crypto space, with Bitcoin continuing to trade under extreme bearish pressure. In the early trading hours, the price slipped to $76,600 in the times when it has been adopted by a U.S. strategic reserve. On the other hand, the trading volume has halved ever since the price failed to rise above $100K, which suggests a massive drop in the trader’s interest. What’s Next—Is the Bitcoin Bear Market Begun?

显然，唐纳德·特朗普总统围绕裁员和关税战争的分裂政策席卷了美国的股市。同时，在加密货币领域也有显着的负面影响，比特币继续在极端看跌压力下进行贸易。在交易早期，在美国战略储备中采用的时代，价格下跌至76,600美元。另一方面，自从价格未能上涨以来以来，交易量减少了一半，这表明交易者的利息大幅下降。接下来是什么 - 比特币熊市开始？

The spot markets have been contributing to the volatility of the token, while the future market is considered to shed light on the price movements in the long term. Even if the spot volume drops, the volume in the futures remains elevated. Interestingly, the volume in both cases has dropped, suggesting the traders have become apathetic. Moreover, the future open interest has also dropped significantly since the last week of February, which substantiates the claim. Secondly, the transaction count has been dropping consistently ever since the BTC price began to escalate in November 2024. This suggests the rise in the institutional involvement or the possibility of carrying out more large transactions, as the drop in the transaction count implies the drop in the trading activity of the retailers. With this, the volatility has been decreasing, which is not good for a healthy price action. Both of the above on-chain indicators suggest a rise in the dominance of the institutions through a rise in the ETF holdings. The rise in ETF accumulation leads towards a rise in BTC value, while a drop impacts the price negatively. This suggests the impact of retail trading has been slashed to a large extent, and as a result, these traders usually turn as scapegoats during massive, long liquidations. What’s Next? Is BTC Heading Back to Fresh Lows?

现货市场一直在促进令牌的波动，而从长远来看，未来的市场被认为可以阐明价格变动。即使斑点量下降，期货的体积仍会升高。有趣的是，这两种情况下的数量都下降了，表明交易者变得冷漠。此外，自2月份的最后一周以来，未来的开放兴趣也大大下降，这证明了这一主张。其次，自BTC价格于2024年11月开始升级以来，交易数量一直在下降。这表明机构参与的增加或进行更多大型交易的可能性，因为交易的下跌意味着零售商的交易活动的下降。因此，波动率一直在下降，这对健康的价格行动不利。上述两个链上指标都表明，通过ETF持有量的增加，机构的主导地位升高。 ETF积累的增加导致BTC值的上升，而下降的价格会对价格产生负面影响。这表明零售交易的影响已在很大程度上被削减，结果，这些交易者通常在大规模长时间的清算期间转向替罪羊。接下来是什么？ BTC正在回到新鲜的低点吗？

Since the price faced a rejection from the ATH, it has been constantly forming lower highs and lows. This suggests that the bulls have failed to reclaim their dominance, and as a result, every rebound is followed by a huge pullback. Currently, the price has displayed a bullish divergence, but it is expected to be short-lived as the Puell Multiple has remained neutral since the November breakout. The indicator considers Bitcoin miners and their revenue. If the indicator drops to the lower green zone, it indicates the start of a bull run, as it happened back in 2018 and 2021. Currently, the levels are stuck between 0.98 and 1.41 around the average, which suggests the markets are stuck within a strong consolidation phase. After losing the crucial support zone around $85,000, the price appears to have lost another pivotal support at $80,400. Therefore, with this, Bitcoin has completed a parabolic pullback, which could drag the levels lower. Hence, the BTC price continues to remain under bearish influence.

由于价格面临ATH的拒绝，因此它一直在不断形成较低的高潮和低点。这表明公牛队未能夺回其统治地位，因此，每个篮板之后都有巨大的回调。目前，价格表现出了看涨的分歧，但预计将是短暂的，因为自11月突破以来，Puell多重倍数一直保持中立。该指标考虑了比特币矿工及其收入。如果指标下降到较低的绿色区域，则表明牛的开始，正如2018年和2021年发生的那样。目前，该水平被卡在平均水平的0.98至1.41之间，这表明市场被困在强大的整合阶段。在损失了85,000美元左右的关键支持区之后，价格似乎损失了另一个关键支持，为80,400美元。因此，因此，比特币已经完成了抛物线回调，这可能会使水平降低。因此，BTC的价格继续保持看跌影响。