比特币是否已经做好了“最大痛苦”下跌的准备？

CryptoQuant 的 Ki Young Ju 警告称，比特币可能会出现大幅下跌，因为比特币可能会出现“最大痛苦”暴跌。随着比特币 ETF 资金流入的减少，表明比特币 ETF 正在转向抛售，历史分析表明，比特币 ETF 的价格将从当前 67,184 美元的价格下跌 30% 至 51,000 美元。这一水平可能标志着遭受损失的市场参与者的最大痛苦点。

Is Bitcoin Poised for a 'Max Pain' Plunge?

比特币是否已准备好迎接“最大痛苦”暴跌？

CryptoQuant's Ki Young Ju cautions that Bitcoin (BTC) could plunge to a "max pain" level before the bull market resumes. Ju's analysis points to waning inflows into spot Bitcoin exchange-traded funds (ETFs), indicating a potential shift in market sentiment towards selling.

CryptoQuant 的 Ki Young Ju 警告称，在牛市恢复之前，比特币 (BTC) 可能会跌至“最大痛苦”水平。 Ju 的分析指出，流入现货比特币交易所交易基金（ETF）的资金正在减少，这表明市场情绪可能转向抛售。

Historical Precedent: A 30% Drawdown?

历史先例：缩水30%？

Based on historical price action, Ju suggests a potential correction to $51,000, representing a 30% drawdown from the current price of $67,184. This level is seen as a "max pain" point, where the maximum number of market participants experience losses.

根据历史价格走势，Ju 建议可能修正至 51,000 美元，较当前价格 67,184 美元下跌 30%。该水平被视为“最大痛苦”点，即最大数量的市场参与者遭受损失。

Whales and Miners Unloading?

鲸鱼和矿工卸货？

CryptoQuant's data further indicates increased selling by large BTC holders, including miners. This suggests that these entities may be taking profits after the recent surge in prices.

CryptoQuant 的数据进一步表明，包括矿工在内的大型 BTC 持有者的抛售有所增加。这表明这些实体可能在近期价格飙升后获利了结。

Short-Term Traders Cashing Out

短期交易者套现

Shorter-term holders are also cashing out, according to CryptoQuant. The rate of profit-taking has not been seen since May 2019, further supporting the notion of a potential correction.

据 CryptoQuant 称，短期持有者也在兑现。自 2019 年 5 月以来，从未出现过获利了结的情况，进一步支持了潜在回调的观点。

Market Sentiment Shifts

市场情绪转变

At the time of writing, Bitcoin is trading above $67,000, up over 4% in the past day. However, Ju's analysis suggests that a more significant correction could be on the horizon, as market sentiment appears to be shifting towards selling.

截至撰写本文时，比特币交易价格超过 67,000 美元，过去一天上涨超过 4%。然而，朱的分析表明，随着市场情绪似乎转向抛售，更重大的调整可能即将出现。

Bull Market Pause or a Deeper Pullback?

牛市暂停还是进一步回调？

While a correction to $51,000 would represent a significant decline, it would still leave Bitcoin within its bull market range. However, if selling pressure intensifies, a deeper pullback could ensue, raising concerns about the sustainability of the current uptrend.

虽然修正至 51,000 美元将意味着大幅下跌，但仍将使比特币处于牛市区间内。然而，如果抛售压力加剧，可能会出现更严重的回调，引发人们对当前上升趋势可持续性的担忧。

Conclusion

结论

CryptoQuant's analysis highlights the potential for a near-term correction in Bitcoin. Investors should monitor market developments closely and consider adjusting their positions accordingly. The question remains whether this correction will be a temporary pause in the bull market or a more significant pullback that tests the limits of investor confidence.

CryptoQuant 的分析强调了比特币近期回调的潜力。投资者应密切关注市场发展并考虑相应调整仓位。问题仍然在于，这次调整是牛市的暂时停顿，还是一次更显着的回调，考验投资者信心的极限。