摩根大通警告称，比特币涨势失去动力，调整即将到来

摩根大通分析师表示，尽管近期有所复苏，但比特币仍处于超买状态，这表明比特币有可能进一步下跌。期货头寸代理和比特币期货相对于现货的溢价表明，该加密货币仍处于超买区域，仅观察到头寸小幅减少。

Is Bitcoin's Rally Running Out of Steam?

比特币的涨势是否已经失去动力？

JPMorgan analysts are sounding the alarm on Bitcoin's recent surge, warning that it could be due for a correction. Despite recovering from last week's plunge, the cryptocurrency remains "overbought," according to their futures position proxies and price premium analysis.

摩根大通分析师对比特币最近的飙升发出警报，警告称其可能需要进行调整。根据他们的期货头寸代理和价格溢价分析，尽管从上周的暴跌中恢复过来，但加密货币仍然“超买”。

Overbought and Overdue for a Correction?

超买和逾期修正？

JPMorgan's data suggests that Bitcoin's current rally is unsustainable. Despite some modest position reductions, the crypto remains in overbought territory, leaving it vulnerable to further declines. This raises concerns about whether the recent optimism for Bitcoin's price in the coming months is misplaced.

摩根大通的数据表明，比特币目前的涨势是不可持续的。尽管头寸略有减少，但加密货币仍处于超买区域，使其容易进一步下跌。这引发了人们的担忧，即最近对比特币未来几个月价格的乐观情绪是否错误。

ETF Inflows Slowing Down

ETF 资金流入放缓

Adding to the skepticism, recent data shows a slowdown in net inflows into spot ETFs. This casts doubt on the belief that there will be a continued flow of funds into these instruments, which have been a major driver of Bitcoin's recent gains.

最近的数据显示现货 ETF 净流入放缓，加剧了人们的怀疑。这让人对资金将持续流入这些工具的信念产生了怀疑，而这些工具是比特币近期上涨的主要推动力。

Halving on the Horizon

减半即将到来

With the upcoming halving of Bitcoin supply, JPMorgan analysts believe that profit-taking is likely to continue. Given the current overbought position, they see this as a prime opportunity for investors to cash out.

随着比特币供应量即将减半，摩根大通分析师认为，获利了结可能会持续下去。鉴于目前的超买状况，他们认为这是投资者套现的绝佳机会。

Conclusion

结论

While Bitcoin has rebounded from its recent dip, JPMorgan's analysis suggests that the rally could be running out of steam. The overbought position, slowing ETF inflows, and approaching halving all point to the possibility of a correction. Investors should be cautious and consider taking profits before the market turns against them.

尽管比特币已从最近的下跌中反弹，但摩根大通的分析表明，涨势可能会失去动力。超买头寸、ETF 流入放缓以及接近减半都表明有可能出现回调。投资者应保持谨慎，并考虑在市场对他们不利之前获利了结。