由于牛市激增停滞，加密货币市场降温

Crypto Market Consolidates After Bulls Falter

牛市动摇后加密货币市场整合

Amidst mounting uncertainty, the cryptocurrency markets have retreated into a period of consolidation following moderate speculative gains. Buying momentum has waned, driving prices for prominent tokens, including Bitcoin (BTC), close to critical support levels. Albeit anticipations of a positive quarterly close, analysts foresee a potential downward trajectory for BTC post-halving, creating a conducive environment for altcoins to flourish.

在不确定性不断增加的情况下，加密货币市场在投机温和上涨后已退回到整合期。购买势头已经减弱，推动包括比特币（BTC）在内的知名代币的价格接近关键支撑位。尽管预计季度收盘价将上涨，但分析师预计比特币减半后可能出现下行轨迹，从而为山寨币的蓬勃发展创造有利的环境。

BTC has lingered within a narrow trading range for the past 48 hours, with technical indicators suggesting a bearish undertone. Notwithstanding, it is widely believed that the price will maintain an uptrend until the upcoming halving event, which is anticipated to occur without a significant pullback. Subsequently, altcoins are poised to gain substantial traction.

过去 48 小时内，BTC 一直徘徊在窄幅交易区间内，技术指标显示看跌基调。尽管如此，人们普遍认为，在即将到来的减半事件之前，价格将保持上涨趋势，预计减半事件不会出现大幅回调。随后，山寨币有望获得巨大的吸引力。

This bullish outlook stems primarily from the BTC dominance index, which is approaching a significant resistance level that could trigger a bearish correction. The weekly chart depicts BTC dominance consolidating above this pivotal resistance, confined within an ascending wedge pattern. The pattern suggests that this consolidation could extend for another 3-4 weeks before reaching its apex.

这种看涨前景主要源于比特币主导指数，该指数正在接近可能引发看跌修正的重要阻力位。周线图显示，比特币的主导地位在这一关键阻力位上方巩固，并限制在上升楔形模式内。该模式表明，这种盘整可能会再持续 3-4 周，然后才会达到顶峰。

Strikingly, the current consolidation mirrors the one observed in 2019-2020, which preceded a substantial price decline. Hence, both indicators point towards a potential major pullback, potentially relegating BTC to a period of range-bound trading or extended consolidation.

引人注目的是，当前的盘整反映了 2019-2020 年观察到的情况，当时价格大幅下跌。因此，这两个指标都表明比特币可能会出现大幅回调，从而可能使比特币进入区间交易或长期盘整的时期。

Renowned analyst Michael van de Poppe aligns with this bearish prognosis, predicting a drop in dominance after the halving. He further observes that the current valuation of altcoins relative to BTC is extraordinarily low, indicating a potential surge in purchasing interest.

著名分析师 Michael van de Poppe 同意这一悲观预测，预测减半后主导地位将下降。他进一步观察到，当前山寨币相对于 BTC 的估值非常低，表明购买兴趣可能会激增。

In conclusion, while the cryptocurrency market exhibits signs of consolidation, technical analysis suggests a possible downturn for BTC in the wake of the halving. This bearish trend could pave the way for altcoins to assert their position in the market, bolstered by their undervalued status and the waning dominance of BTC.

总之，虽然加密货币市场出现整合迹象，但技术分析表明，比特币在减半后可能会出现低迷。这种看跌趋势可能会为山寨币在市场上确立自己的地位铺平道路，这得益于其被低估的地位和比特币主导地位的减弱。