尽管续签了看涨信号，但比特币价格仍在悬停在90,000美元以下

比特币在3月20日达到87,500美元，这是两周内的最高水平。从那以后，它的收入降至83,951美元左右，在过去一周中仍增长2.7％。

NAIROBI (CoinChapter.com) – Bitcoin price continues to hover below $90,000 despite renewed bullish signals.

内罗毕（Coinchapter.com） - 尽管续签了看涨信号，但比特币价格仍在徘徊在90,000美元以下。

Whale-driven spoofing on Binance, weak onchain retail trends, and mixed macro cues are stalling the crypto behemoth. But exchange outflows, ETF demand, and Coinbase volume suggest strong underlying accumulation.

鲸鱼驱动的伪造，弱的链零售趋势和混合宏提示正在拖延加密庞然大物。但是交换流出，ETF需求和共插量的体积表明强大的潜在积累。

However, Benzinga noted that some analysts believe that retail traders are entering the market in droves.

但是，本辛加指出，一些分析师认为零售商人正在以斗争的身份进入市场。

According to Material Indicators, large players are deploying spoofing tactics on Binance to prevent upward momentum. The firm blamed a whale labeled "Spoofy" for placing high-volume ask orders.

根据物质指标，大型参与者正在部署有关二进制的欺骗策略，以防止向上势头。该公司指责一条标有“ Spoofy”的鲸鱼下达了高批量的要求命令。

"If you are wondering why Bitcoin price hasn't been able to rally past $87.5k yet, the reason is price suppression from Spoofy the Whale," Material Indicators wrote in a March 20 post on X.

“如果您想知道为什么比特币价格还没有能够超过87.5k美元，其原因是鲸鱼的价格抑制，”材料指标在3月20日的X上发表了X上的一篇文章中写道。

Their data shows these large orders dominating above price, keeping BTC in a tight range, with $76,000 offering little support below.

他们的数据显示，这些大订单占主导地位，使BTC处于紧密的范围内，76,000美元的支持几乎没有支持。

Credit: Material Indicators

学分：物质指标

CryptoQuant CEO Ki Young Ju challenged the common assertion that retail traders aren't participating in the current bull market.

CryptoQuant首席执行官Ki Young Ju质疑零售交易者未参加当前牛市的普遍断言。

"People keep saying that retail isn't in the market yet, but isn't it obvious? ETF inflows are getting bigger, and they are mostly from retail," Ju stated on March 19.

尤斯在3月19日说：“人们一直在说零售还不在市场上，但这不是很明显吗？ETF流入越来越大，它们主要来自零售。”

He added that the narrative that BTC is in a bear market is "getting more interesting" with recent price action.

他补充说，通过最近的价格行动，BTC处于熊市的叙述正在“变得越来越有趣”。

CryptoQuant

加密

Ju explained that retail investors are flowing into Bitcoin ETFs, which doesn't get captured by onchain metrics. But these numbers suggest otherwise.

JU解释说，零售投资者正在投入比特币ETF，这不会被OnChain指标捕获。但是这些数字建议。

About 80% of spot Bitcoin ETF inflows since January came from retail investors, who participated in a whopping $35.88 billion in ETF activity, according to Farside. This activity wouldn't be covered by traditional wallet or exchange data.

根据Farside的说法，自一月以来，大约80％的现货比特币ETF流入来自零售投资者，零售投资者参加了高达358.8亿美元的ETF活动。传统钱包或交换数据不会涵盖此活动。

This lack of onchain footprint also keeps metrics like the Bitcoin realized cap artificially low, rendering it less useful for gauging buying pressure.

缺乏onChain足迹也使像比特币这样的指标人人为地降低了CAP，从而使其对于衡量购买压力的有用程度降低了。

Ju previously predicted the bull market was ending, but he later clarified that he expects Bitcoin to take six to twelve months to break its all-time high.

JU先前预测牛市已经结束，但他后来澄清说，他希望比特币需要六到十二个月的时间才能打破其历史最高水平。

Coinbase Premium Hits Highest Since Feb. 20 as BTC Rises 5%

随着BTC上升5％，Coinbase Premium命中自2月20日以来最高

Data from CryptoQuant shows the Coinbase premium index reached its highest level since February 20 after BTC rose 5% on March 19. A rising premium often reflects strong U.S.-based buying.

来自CryptoQuant的数据显示，Coinbase Premium指数在3月19日BTC上涨了5％以来2月20日以来的最高水平。溢价上涨通常反映了美国的强劲购买。

Bitcoin's Coinbase premium index. Source: CryptoQuant

比特币的Coinbase Premium指数。资料来源：加密

Analyst Woonminkyu noted that the 30-day EMA of the index recently crossed the 100-day EMA, which is a bullish pattern.

分析师WoonMinkyu指出，该指数的30天EMA最近越过了100天EMA，这是看涨模式。

"This implies the presence of large players," he added.

他补充说：“这意味着大型球员的存在。”

The indicator supports the view that institutions and whales are accumulating through regulated platforms like Coinbase Advanced.

该指标支持这样的观点，即机构和鲸鱼通过Coinbase Advanced等规范平台积累。

CryptoQuant

加密

Meanwhile, CryptoQuant analyst CryptoOnCain observed the largest Bitcoin exchange outflow on a 90-day average since January 2023.

同时，加密分析师Cryptooncain观察到自2023年1月以来的90天平均水平的最大比特币交换。

Exchange netflows turning negative often signals accumulation, as coins are withdrawn from exchanges for long-term holding.

交换Netfrows转向负面的netfrows通常会积累，因为硬币从交换中撤回了长期持有。

Bitcoin Structure Still Fragile as Traders Watch Key Levels

比特币结构仍然脆弱，因为交易者观看关键水平

Bitcoin's bounce back above $85,000 follows weeks of decline. Still, market sentiment remains mixed.

在数周下降之后，比特币的反弹返回了85,000美元。尽管如此，市场情绪仍然混杂。

CryptoQuant analyst Crypto Dan noted that recent corrections stay within a standard 30% pullback range. "Massive liquidations have not occurred," he said, suggesting current conditions do not yet reflect a bear market.

加密分析师Crypto Dan指出，最近的更正停留在标准的30％回调范围内。他说：“尚未进行大规模清算。”他表明，当前状况尚未反映出熊市。

"Uncertainty in the market is an unavoidable element," Crypto Dan added, noting political and economic factors.

Crypto Dan指出政治和经济因素说：“市场的不确定性是不可避免的因素。”

CryptoQuant

加密

On the technical side, Daan Crypto Trades said $84,000-$85,000 is a critical zone for bulls. Losing that level risks a deeper retrace into lower liquidity.

在技​​术方面，Daan Crypto交易表示，$ 84,000- $ 85,000是公牛的关键区域。失去该水平会更深入地回溯到较低的流动性。

"Still no signs of a strong breakout yet. We’ll see if we can hold this structure for a test of $90k."

“尚无强烈突破的迹象。我们将看看是否可以将这种结构持有90,000美元的测试。”

Another crypto analyst, Max from BecauseBitcoin, pointed out that Bitcoin’s RSI is still quite low despite the recent price gains.

另一名加密分析师Adbitcoin的Max指出，尽管最近价格上涨，比特币的RSI仍然很低。

This weakness in momentum could still stall a breakout, especially with price action remaining "stubbornly contained" in a $82,000-$88,000 range.

这种势头的弱点仍然可能会陷入突破，尤其是在82,000美元至88,000美元之间的价格行动中剩下的“固执”。

suggesting that sellers are still in control.

暗示卖家仍在控制中。