比特币在周五的$ 85,000大关高于$ 85,000

虽然价格篮板表示短期恢复，但现货交换指标和期货数据都表明市场可能正在进入合并阶段或等待更清晰的信号

Bitcoin surged above the $85,000 mark on Friday, but underlying market data points to reduced activity and increased caution among investors.

比特币在周五的85,000美元高度飙升，但基本的市场数据点可以减少活动和增加投资者的谨慎态度。

While the price rebound indicates a short-term recovery, both spot exchange metrics and futures data suggest the market may be entering a consolidation phase or awaiting clearer signals before resuming a stronger trend.

虽然价格反弹表明短期恢复，但现货交换指标和期货数据都表明，在恢复更强大的趋势之前，市场可能会进入合并阶段或等待更清晰的信号。

According to blockchain analytics firm Glassnode, Bitcoin’s exchange inflow momentum continues declining, adding signs of a broad downtrend that began in mid-March 2025. The report tracks the 30-day and 365-day simple moving averages (SMA) of inflow volume.

根据区块链分析公司GlassNode的说法，比特币的交换流入动量持续下降，增加了始于2025年3月中旬的广泛下降趋势的迹象。该报告跟踪了30天和365天的简单移动平均（SMA）的流入量。

A crossover has emerged with the 30-day SMA falling below the longer-term average, historically interpreted as a signal of weakening short-term momentum relative to the longer-term trend. The trend is marked visually by red-shaded zones on the chart, highlighting periods of downtrend activity.

出现了一个分频器，30天的SMA降至长期平均水平以下，历史上被解释为相对于长期趋势削弱短期动量的信号。图表上的红色阴影区域在视觉上标记了趋势，突出了下降活动的时期。

Bitcoin has remained range-bound between $60,000 and $70,000 during the current phase, even as overall exchange inflows declined. The chart also shows reduced volatility in inflow bars, indicating a market lacking strong accumulation or distribution events.

在当前阶段，比特币在60,000美元至70,000美元之间的范围仍然存在，即使整体交换流入下降。该图还显示出流入条的波动性降低，表明市场缺乏强大的积累或分销事件。

This development suggests that investors are holding off on transferring coins to centralized platforms due to market uncertainty or an absence of short-term catalysts. Reduced inflow volume often aligns with lower price volatility and reflects a subdued trading environment. It may also indicate that the market is preparing for further correction or waiting for macroeconomic triggers before making big moves.

这一发展表明，由于市场不确定性或缺乏短期催化剂，投资者将坚持将硬币转移到集中式平台上。减少的流入量通常与价格较低的波动性保持一致，并反映出柔和的交易环境。这也可能表明市场正在准备进一步的纠正或等待宏观经济触发器，然后再进行大动作。

At the same time, according to the dynamics shown by CoinGlass, there is a constant outflow of cash from the Bitcoin futures market. The daily outflow has been increasing since the beginning of March, particularly in the first half of the month following Bitcoin’s drop in price to slightly above $ 110,000 in mid-March.

同时，根据Coinglass所显示的动态，比特币期货市场不断流出现金。自3月初以来，每日流出一直在增加，尤其是在比特币价格下跌至3月中旬略高于110,000美元之后的上半月。

Since November 2024 to February 2025, futures inflows dominated the busy period where Bitcoin was on the rise indicating more trader confidence and leverage on speculation. However, that sentiment has shifted, with notable outflows in mid-February and early April reflecting reduced exposure to leveraged positions.

自2024年11月至2025年2月以来，期货在繁忙的时期占据主导地位，在繁忙的时期中，比特币的增长表明交易者的信心和对投机的杠杆作用。但是，这种情绪发生了变化，在2月中旬和4月初出现了显着的外流，反映出杠杆位置的暴露量减少。

Although minor inflow spikes re-emerged in late March, they failed to surpass the outflows, confirming a net decline in futures positioning. The change suggests traders await improved technical or macro signals before reentering the market with larger contracts.

尽管三月下旬重新出现了轻微的流入尖峰，但他们未能超过流出，证实了期货定位的净下降。这一变化表明，在通过更大的合同重新进入市场之前，贸易商正在等待改进的技术或宏信号。

Despite subdued market dynamics, Bitcoin recovered to $85,176.24 during the time of writing, marking a 0.69% gain over 24 hours, as reported by CoinMarketCap. The price had consolidated near $84,600 in the previous session before a breakout occurred early Friday.

尽管市场动态柔和，但在撰写本文期间，比特币仍恢复至85,176.24美元，标志着24小时内的0.69％的增长率，据CoinMarketCap报道。在周五早些时候发生突破之前，上一届会议中的价格已汇总了近84,600美元。

However, the rally was accompanied by a sharp decline in 24-hour trading volume, which fell by 35.13% to $13.4 billion.

但是，该集会伴随着24小时交易量的急剧下降，下降了35.13％，至134亿美元。

The drop in volume suggests that the move may have been influenced by thinner liquidity rather than strong demand. Bitcoin’s market capitalization remains at $1.69 trillion, with a circulating supply of 19.85 million out of a fixed 21 million.

体积的下降表明，此举可能受到较薄的流动性而不是强烈需求的影响。比特币的市值仍为1.69万亿美元，在固定的2100万中循环供应量为1,985万。