在考虑比特币（BTC）的价格动作时，两种矛盾的哲学都会想到

詹姆斯·范·斯特拉滕（James van Straten）（除非另有说明），詹姆斯·范·斯特拉滕（James van Straten）在考虑最近的比特币（BTC）价格动作时，就会想到两种矛盾的哲学。

output: Two contradictory philosophies jump to mind when considering bitcoin's (BTC) price action of late.

输出：当考虑比特币（BTC）最近的价格行动时，两种矛盾的哲学都会想到。

Do you "buy when there is blood in the streets" or perhaps "don't catch a falling knife."?

您是否“在街道上有鲜血时购买”，或者也许是“不要钓到掉落的刀”。

Which applies in today's market, the day after the largest cryptocurrency posted its steepest three-day decline since the collapse of FTX in 2022? The drop left BTC 25% below January's all-time high, despite the advent of President Donald Trump's pro-crypto administration.

自2022年FTX崩溃以来，最大的加密货币最大的三天下降的第二天，适用于当今市场？尽管总统唐纳德·特朗普（Donald Trump）的亲克莱托普（Crypto）政府出现了，但下降使BTC低于一月份的历史最高水平。

It's no surprise the largest hack in crypto history has shaken investor sentiment. Add to that the memecoin frenzy, which pulled liquidity out of the broader market.

毫不奇怪，加密历史上最大的黑客动摇了投资者的情绪。此外，Memecoin Frenzy将流动性从更广泛的市场中撤出。

That said, in previous cycles so-called bull-market corrections have seen bitcoin tumbling as much as 35%. Given that BTC hasn't had a meaningful pullback since the yen carry trade unwind last August, the current situation is almost normal.

也就是说，在以前的周期中，所谓的牛市校正使比特币跌落了35％。鉴于BTC自去年八月日元携带贸易以来没有有意义的回调，因此目前的情况几乎是正常的。

CoinDesk research showed that bitcoin was trading in an extremely tight range for a meaningful period, and a breakout of the channel was bound to happen. On-chain data tells us that bitcoin recently bounced off its 200-day-moving average or roughly $81,800. While short-term holders are selling — panic sales, perhaps? — at the highest level since August, because they have held BTC for 155 days or less they are usually seen as a signal of some form of capitulation in the market.

Coindesk Research表明，比特币在一个有意义的时期处于极为紧张的范围内，渠道的突破必然会发生。链上的数据告诉我们，比特币最近从200天的平均值中反弹，约为81,800美元。虽然短期持有人正在出售 - 也许是恐慌销售？ - 自八月以来的最高水平，因为它们已经持有BTC 155天或更短的时间，通常被视为市场上某种形式的投降信号。

BlackRock's IBIT saw record outflows on Wednesday. However, it's not all bad news. A huge expansion deal was made for Core Scientific (CORZ), while MARA Holdings (MARA) reported strong earnings, with both stocks up more than 10% before the open. Meanwhile, NVIDIA (NVDA) beat fourth-quarter estimates to calm investors' nerves. Stay tuned!

贝莱德（Blackrock）的伊比特（Ibit）在周三看到了唱片流出。但是，这并不是所有的坏消息。核心科学（CORZ）达成了一项巨大的扩张协议，而Mara Holdings（Mara）报告的收入很高，两股股票在开放前上涨了10％以上。同时，NVIDIA（NVDA）击败了第四季度的估计，以使投资者保持紧张感。敬请关注！

What to WatchToken Events

守望事件

Coinbase (COIN) is set to report fourth-quarter earnings on Thursday. The company's earnings will be closely watched by investors, who will be looking for signs of strength in the cryptocurrency market.

Coinbase（Coin）定于周四举报第四季度的收益。投资者将密切关注公司的收入，他们将在加密货币市场中寻找实力的迹象。

Conferences

会议

The World Economic Forum's Annual Meeting will take place in Davos, Switzerland, from January 18 to 22. The conference will bring together political, business, and academic leaders from around the world to discuss pressing issues facing the global community.

世界经济论坛的年度会议将于1月18日至22日在瑞士的达沃斯举行。会议将汇集来自世界各地的政治，商业和学术领导者，讨论全球社区面临的紧迫问题。

Token Talk

代币谈话

The memecoin frenzy continues, with new tokens emerging on a daily basis. Some of the most popular memecoins include PEPE, SHIB, and DOGECOIN.

Memecoin Frenzy仍在继续，每天都会出现新的代币。一些最受欢迎的纪念物包括Pepe，Shib和Dogecoin。

Derivatives Positioning

衍生物定位

The latest Commitment of Traders report from the Commodity Futures Trading Commission (CFTC) showed that leveraged funds increased their net short position in the S&P 500 futures market in the week ended January 3.

商品期货交易委员会（CFTC）的交易者报告的最新承诺表明，杠杆资金在截至1月3日的一周中提高了其在标准普尔500指数期货市场中的净净职位。

Market Movements:

市场变动：

Bitcoin Stats:

比特币统计：

Technical Analysis

技术分析

Crypto Equities

加密股票

ETF Flows

ETF流

Spot BTC ETFs:

SPOT BTC ETF：

The U.S. Securities and Exchange Commission (SEC) has yet to approve any spot bitcoin ETFs, despite the fact that several applications have been pending for over a year.

美国证券交易委员会（SEC）尚未批准任何现场比特币ETF，尽管有几个申请已待一年以上。

Spot ETH ETFs

点ETH ETF

Source: Farside Investors

资料来源：Farside Investors

Overnight Flows

隔夜流动

Chart of the Day

日图

While You Were Sleeping

当你睡觉的时候

In the Ether

在以太