比特币在第二季度初出现波动：在机构怀疑中测试支撑位

第二季度初，比特币 (BTC) 面临疲软，价格下跌超过 4.5%。尽管机构资金回流，但缺乏进一步的上涨空间，加上灰度比特币信托基金（GBTC）资金流出不足，引起了交易员的担忧。随着 BTC/USD 测试支撑位，Daan Crypto Trades 等交易商表示，复活节假期可能起到了一定作用，并预计假期后将恢复正常的资金流入/流出。

Bitcoin's Early Q2 Woes: Support Levels Tested Amid Weakness

比特币第二季度初期的困境：支撑位在疲软中受到考验

The cryptocurrency market opened the second quarter of 2023 with a lackluster performance, as Bitcoin (BTC) struggled to maintain its key support level of $68,000. The weakness was attributed to a combination of factors, including the Easter holiday period and a cautious approach by institutional investors.

加密货币市场在 2023 年第二季度开局表现平淡，比特币 (BTC) 难以维持 68,000 美元的关键支撑位。疲软归因于多种因素，包括复活节假期和机构投资者的谨慎态度。

Bitcoin Price Correction Amid Institutional Flows

机构流动中比特币价格调整

Bitcoin's price action witnessed a sharp decline of over 4.5% in the early hours of Q2, eroding gains made in the previous month. Despite the absence of significant outflows from the Grayscale Bitcoin Trust (GBTC), the anticipated upside momentum failed to materialize. Popular trader Daan Crypto Trades attributed the sluggishness to the Easter holiday period, noting that institutional flows were likely disrupted by market closures.

第二季度早些时候，比特币的价格走势大幅下跌超过 4.5%，侵蚀了上个月的涨幅。尽管灰度比特币信托基金（GBTC）没有出现大量资金流出，但预期的上涨势头未能实现。受欢迎的交易商 Daan Crypto Trades 将经济低迷归因于复活节假期，并指出机构资金流动可能因市场关闭而受到干扰。

Grayscale Outflows Slow Down

灰度流出放缓

Data from crypto intelligence firm Arkham revealed that GBTC outflows, which had been a significant factor in BTC's price declines in recent months, have started to slow down. The final trading day of Q1 saw a modest outflow of $104 million, far less than the record $642 million recorded on March 18. This suggests that institutional investors may be adopting a more cautious stance towards Bitcoin in the current market environment.

加密情报公司 Arkham 的数据显示，GBTC 资金外流已开始放缓，这是近几个月 BTC 价格下跌的一个重要因素。第一季度最后一个交易日小幅流出 1.04 亿美元，远低于 3 月 18 日创下的 6.42 亿美元纪录。这表明机构投资者在当前市场环境下可能对比特币采取更加谨慎的立场。

Technical Analysis Raises Concerns

技术分析引发担忧

From a technical perspective, Bitcoin's descent below the 200-period moving average on four-hour timeframes, currently at $67,330, has raised concerns among traders. Popular analyst Skew cautioned that the price could dip further if it fails to reclaim the $70,000 mark.

从技术角度来看，比特币在四小时时间范围内跌破 200 周期移动平均线（目前为 67,330 美元）引起了交易者的担忧。颇受欢迎的分析师 Skew 警告称，如果未能收复 70,000 美元大关，价格可能会进一步下跌。

Downward Pressure in Spot Markets

现货市场下行压力

Trading firm QCP Capital highlighted increased "downward pressure" across crypto spot markets, including Bitcoin and Ethereum. The firm reported significant interest in selling calls and buying puts, indicating that traders are positioning themselves for a potential market downturn.

交易公司 QCP Capital 强调，包括比特币和以太坊在内的加密货币现货市场的“下行压力”不断增加。该公司报告称，他们对卖出看涨期权和买入看跌期权表现出浓厚的兴趣，这表明交易者正在为潜在的市场低迷做好准备。

Smart Money Eyes a Dip at $62,000

聪明的投资者认为股价会下跌至 62,000 美元

An analysis of Binance's order book liquidity by trading resource Material Indicators suggests that "smart money" is preparing to buy the Bitcoin dip at around $62,000. Co-founder Keith Alan noted that bids are laddered down to that level, indicating a belief that the price could retest support in the near term.

通过交易资源 Material Indicators 对币安订单簿流动性的分析表明，“聪明的钱”正准备在 62,000 美元左右的价格下跌时买入比特币。联合创始人基思·艾伦指出，出价已逐步降至该水平，表明人们相信价格可能会在短期内重新测试支撑位。

Uncharted Territory for Institutional Buyers

机构买家的未知领域

Alan further indicated that Bitcoin's price action in relatively uncharted territory has created uncertainty among institutional buyers. However, he expressed confidence that belief in new all-time highs remains strong once the block subsidy halving event has passed.

艾伦进一步表示，比特币在相对未知领域的价格走势给机构买家带来了不确定性。然而，他表示相信，一旦集体补贴减半事件过去，对历史新高的信心仍然强劲。

Caution and Optimism in the Market

市场谨慎乐观

The current weakness in the cryptocurrency market has prompted caution among traders and investors. However, the presence of strong liquidity at lower price levels suggests that some market participants are anticipating a recovery in the near future. With the block subsidy halving approaching, the market will be closely watching Bitcoin's price action for signs of a sustained rally.

目前加密货币市场的疲软促使交易者和投资者保持谨慎。然而，较低价格水平下的强劲流动性表明，一些市场参与者预计不久的将来会出现复苏。随着区块补贴减半的临近，市场将密切关注比特币的价格走势，寻找持续上涨的迹象。