比特币的涨势是否正在失去动力？

随着 3 月 26 日价格遭受重创，比特币的涨势似乎正在失去动力。华尔街的混合信号导致 BTC/USD 在短短一个小时内下跌 3.2%，抹去了早些时候的涨幅。在 2021 年达到 69,000 美元后，比特币现在犹豫不决，不确定下一步走势。市场争论这是暂时的挫折还是更大回调的迹象。灰度比特币信托资金流出量骤降至 1.2 亿美元以下，表明投资者情绪发生转变。

Is Bitcoin's Rally Running Out of Steam?

比特币的涨势是否已经失去动力？

Bitcoin's bullish momentum hit a snag on March 26th, as the price action sent mixed signals to investors at the Wall Street open.

3 月 26 日，比特币的看涨势头遇到了障碍，因为价格走势在华尔街开盘时向投资者发出了复杂的信号。

TradingView data shows that BTC/USD is down 3.2% in the past hour, shedding its earlier gains. After soaring to its all-time high of $69,000 in 2021, Bitcoin is now treading water, seemingly unsure of its next move.

TradingView 数据显示，BTC/美元在过去一小时内下跌了 3.2%，回吐了早些时候的涨幅。在 2021 年飙升至 69,000 美元的历史高点后，比特币现在停滞不前，似乎不确定下一步走势。

Bullish or Bearish? The Market Debates

看涨还是看跌？市场争论

The market dynamics suggest potential for both a continued rally and a pullback. Grayscale Bitcoin Trust (GBTC) outflows reportedly fell below $120 million, a significant drop from the previous week's average, according to Arkham Intelligence.

市场动态表明存在持续上涨和回调的可能性。据 Arkham Intelligence 称，据报道，灰度比特币信托 (GBTC) 的流出量降至 1.2 亿美元以下，较前一周的平均水平大幅下降。

"Yesterday's ETF net flows saw a minor net inflow at +$15.6M. $GBTC saw a net outflow of -$350.1M," noted Daan Crypto Trades on X (formerly Twitter).

Daan Crypto Trades 在 X（前 Twitter）上指出：“昨天 ETF 净流量小幅净流入 + 1560 万美元。$GBTC 净流出 - 3.501 亿美元。”

However, there's a lack of bid liquidity below the current market price, potentially paving the way for a return to lower support levels.

然而，低于当前市场价格的投标流动性不足，这可能为回到较低支撑位铺平道路。

"Path of Least Resistance Is Down"

“阻力最小的路径是向下”

Keith Alan, co-founder of Material Indicators, observed on X, "What's clear is that in terms of liquidity, the path of least resistance is down. That's not speculation."

Material Indicators 联合创始人 Keith Alan 在 X 上观察到，“很明显，就流动性而言，阻力最小的路径是向下。这不是投机。”

Binance's BTC/USDT order book reveals that the closest cluster of significant bids remains centered around $60,000.

币安的 BTC/USDT 订单簿显示，最接近的重要出价仍然集中在 60,000 美元左右。

"With last week's close at $68.9k and last month's close at $61.1k, we could (and should) see one or both of those levels challenged relative to the candle close/open on Sunday," Alan added.

“鉴于上周收盘价为 68,900 美元，上个月收盘价为 61,100 美元，我们可能（并且应该）看到其中一个或两个水平相对于周日的蜡烛收盘/开盘受到挑战，”艾伦补充道。

A Critical Juncture for Bitcoin?

比特币的关键时刻？

As Bitcoin hovers near its all-time high, investors are grappling with questions about the sustainability of the current rally. Will the bulls continue to push higher, or will the bears take hold and trigger a correction?

随着比特币徘徊在历史高点附近，投资者正在努力解决当前反弹的可持续性问题。多头会继续推高，还是空头会站稳脚跟并引发调整？

The market's behavior in the coming days will likely provide clearer guidance on Bitcoin's trajectory.

未来几天的市场行为可能会为比特币的轨迹提供更清晰的指导。