比特币与标准普尔 500 指数脱钩，显示出新牛市的早期迹象

比特币 [BTC] 显示出与股票脱钩的早期迹象，涨幅领先于标准普尔 500 指数。截至发稿时，比特币价格为 100,839 美元

Bitcoin [BTC] began 2025 with a surprising decoupling from equities, outpacing the S&P 500. At press time, BTC was valued at $100,839, showcasing a 1.39% gain over the past 24 hours and a 7.16% rise in the last seven days.

比特币 [BTC] 进入 2025 年，令人惊讶地与股票脱钩，跑赢了标准普尔 500 指数。截至发稿时，BTC 估值为 100,839 美元，过去 24 小时内上涨 1.39%，过去 7 天上涨 7.16%。

This shift marked a significant divergence, as crypto markets typically followed a highly correlated trajectory to stock markets. However, 2025 began with BTC exhibiting signs of independence from macroeconomic factors.

这种转变标志着显着的分歧，因为加密货币市场通常遵循与股票市场高度相关的轨迹。然而，2025 年伊始，BTC 就表现出了独立于宏观经济因素的迹象。

A closer look at the markets revealed that Bitcoin outperformed the S&P 500. While BTC posted a 3.7% gain in a single day, the S&P 500 recorded a modest 0.4% increase, signaling divergence.

仔细观察市场就会发现，比特币的表现优于标准普尔 500 指数。虽然比特币单日上涨 3.7%，但标准普尔 500 指数小幅上涨 0.4%，这表明存在分歧。

“For most of the past three years, cryptocurrency has been perceived as a ‘high-leveraged tech stock,’ but current data suggests that BTC may break away from stock market fluctuations,” noted Santiment on X (formerly Twitter).

“在过去三年的大部分时间里，加密货币一直被视为‘高杠杆科技股’，但当前数据表明 BTC 可能会摆脱股市波动的影响，”X（前 Twitter）上的 Santiment 指出。

Interestingly, crypto markets have experienced their strongest bull runs when they had a low correlation with equities. If Bitcoin can sustain its momentum and operate independently of macroeconomic factors, it could pave the way for new all-time highs in 2025.

有趣的是，当加密货币市场与股票的相关性较低时，它们就经历了最强劲的牛市。如果比特币能够保持其势头并独立于宏观经济因素运行，它可能会为 2025 年新的历史高点铺平道路。

A visual representation of the Bitcoin Support Resistance levels. Resistance levels are depicted as walls of varying heights, indicating the amount of BTC held at each price point.

比特币支撑阻力位的直观表示。阻力位被描述为不同高度的墙，表明在每个价格点持有的 BTC 数量。

This analysis showed strong support for BTC above a critical zone ranging from $95,400 to $98,400, where 1.77 million addresses purchased 1.53 million BTC. This cluster of buyers represented a strong demand zone that could prevent significant price declines.

该分析显示，BTC 在 95,400 美元至 98,400 美元的关键区域上方受到强劲支撑，其中 177 万个地址购买了 153 万个 BTC。这群买家代表了一个强劲的需求区，可以防止价格大幅下跌。

On the upside, BTC faced minimal resistance, with only 107,000 BTC held by 102,168 addresses between $104,700 and $105,770. If BTC breaks through this light resistance zone, analysts expected further upward movement, as selling pressure remained limited at higher levels.

从好的方面来看，BTC 面临的阻力很小，102,168 个地址仅持有 107,000 个 BTC，价格在 104,700 美元至 105,770 美元之间。如果比特币突破这一小阻力区域，分析师预计将进一步上涨，因为较高水平的抛售压力仍然有限。

This positive ratio reflected strong market sentiment, as most holders were confident in Bitcoin’s trajectory.

这一正比率反映了强劲的市场情绪，因为大多数持有者对比特币的发展轨迹充满信心。

Data from Coinglass showed an increase in Bitcoin Futures Open Interest, now at $64.96 billion, up 2.20% daily. Open Interest(OI) has been steadily climbing since mid-2024, aligning with Bitcoin’s price rally and reflecting heightened speculative activity.

Coinglass 的数据显示，比特币期货未平仓合约有所增加，目前达到 649.6 亿美元，每日上涨 2.20%。自 2024 年中期以来，未平仓合约 (OI) 一直在稳步攀升，与比特币价格上涨一致，反映出投机活动加剧。

Additionally, trading volume surged by 49.82% to $86.96 billion, and options volume jumped 76.78% to $3.54 billion, indicating growing trader engagement.

此外，交易量猛增 49.82% 至 869.6 亿美元，期权交易量猛增 76.78% 至 35.4 亿美元，表明交易者参与度不断提高。

However, rising OI and leveraged positions can increase the risk of volatility. The BTC Total Liquidations Chart recorded $17.87 million in long liquidations and $2.95 million in short liquidations in the past session.

然而，持仓量和杠杆头寸的上升可能会增加波动风险。 BTC总清算图表在过去一个交易日记录了多头清算1787万美元，空头清算295万美元。

This imbalance suggests that overleveraged longs were wiped out during minor price corrections.

这种不平衡表明，过度杠杆化的多头在价格小幅调整期间被消灭。

With a strong support base and minimal resistance ahead, analysts believe Bitcoin is well-positioned to test new all-time highs if it continues to decouple from traditional markets

分析师认为，凭借强大的支撑基础和未来的最小阻力，如果比特币继续与传统市场脱钩，它就有能力测试新的历史高点