比特币的价格继续在新成立的80,000美元至85,000美元之间的舞蹈范围内，显示出一定程度的运动性。

由于总理加密货币损失了90,000美元以上的持有，因此投资者想知道持续的更正是“购买浸入”的机会还是市场顶部。

The Bitcoin price continues to dance within the newly formed $80,000 – $85,000 range, showing some level of indecisiveness in its movement. Since the premier cryptocurrency lost its hold above $90,000, investors have wondered whether the ongoing correction is a “buy the dip” opportunity or the market top is in.

比特币的价格继续在新成立的80,000美元至85,000美元之间的舞蹈范围内，显示出一定程度的运动性。由于总理加密货币损失了90,000美元以上的持有，因此投资者想知道持续的更正是“购买浸入”的机会还是市场顶部。

While there is no surefire way to put these doubts away, on-chain data can provide relevant insights into what is to come. The latest on-chain data suggests the highlighted level below is the one to watch before investors return to the market.

尽管没有确定的方法可以将这些疑问删除，但链上数据可以提供有关即将发生的事情的相关见解。最新的链上数据表明，下面的突出显示水平是投资者返回市场之前要观看的水平。

Level To Watch Before ‘Buying The Dip’

在“购买蘸酱”之前要观看的水平

In a recent post on the X platform, crypto analyst Maartunn shared that it might not be technically secure to reenter the Bitcoin market at the current price. This analysis is based on the movement of the Bitcoin price relative to the current value of the short-term holders’ (STH) average cost basis.

加密分析师Maartunn在X平台上的最新帖子中分享说，以当前价格重新进入比特币市场可能并不确保。该分析基于比特币价格相对于短期持有人（STH）平均成本基础的当前价值的移动。

The STH average cost basis metric estimates the average price at which short-term holders (investors who have owned Bitcoin for less than 155 days) acquired their coins. It represents a psychological level for BTC investors and could act as a reference point for price analysis, especially during bull cycles.

STH平均成本基础量标准估计短期持有人（拥有比特币少于155天的投资者）收购了硬币的平均价格。它代表了BTC投资者的心理层面，可以作为价格分析的参考点，尤其是在牛周期间。

Bitcoin usually trades above the short-term holders’ average cost basis during bull markets, signaling substantial buying pressure and optimistic sentiment from short-term investors. On the flip side, when the price of BTC falls beneath this cost basis — as seen in the ongoing correction, it implies that short-term investors are at a loss, which could lead to a sell-off and precipitate significant bearish pressure.

比特币通常在牛市期间的短期持有人的平均成本基础上交易，这表明了短期投资者的巨大购买压力和乐观的情绪。另一方面，当BTC的价格低于此成本基础时 - 如持续的纠正所示，这意味着短期投资者处于亏损状态，这可能导致抛售并造成巨大的看跌压力。

According to data from CryptoQuant, the Bitcoin price is currently 6% below the short-term holders’ average cost basis at $90,950. With the flagship cryptocurrency beneath the realized price of short-term holders, the odds are that BTC price could face further selling pressure as the investor cohort looks to minimize their loss.

根据CryptoQuant的数据，比特币价格目前比短期持有人的平均成本基础低6％，为90,950美元。由于旗舰加密货币在短期持有人的实现价格之下，因此BTC价格可能会面临进一步的销售压力，因为投资者队列希望最大程度地减少其损失。

Using this logic, Maartunn noted that investors might want to wait till the price of Bitcoin climbs above the STH average cost price before reentering the market.

Maartunn使用这种逻辑指出，投资者可能希望等到比特币的价格攀升到STH平均成本价格高于市场之前。

Interestingly, the short-term investors appear to still be loading their bags. Crypto analyst Ali Martinez revealed in a post on X that short-term holders have purchased more than 35,000 BTC in the past 4 days.

有趣的是，短期投资者似乎仍在装上行李。加密分析师阿里·马丁内斯（Ali Martinez）在X上的一篇文章中透露，短期持有人在过去4天中购买了超过35,000 BTC。

Bitcoin Price At A Glance 

比特币价格一目了然

As of this writing, the price of BTC sits just below the $86,000 mark, reflecting an over 2% jump in the past 24 hours.

截至撰写本文时，BTC的价格位于86,000美元以下，反映了过去24小时的增长超过2％。