当他认为目前的比特币牛可能会结束时，他分享了加密首席执行官

随着比特币在$ 100,000大关以下的熊队战斗时，Ki Young Ju最近断言，目前的牛跑步可能比历史上的任何人更长

The CryptoQuant CEO has shared when he believes the current Bitcoin bull run could end, suggesting this might be the longest one yet.

当他认为目前的比特币公牛运行可能会结束时，他分享了这位隐秘的首席执行官，这表明这可能是迄今为止最长的。

As Bitcoin battles the bears below the $100,000 mark, Ki Young Ju recently asserted that the current bull run might extend longer than any in history, although he cautions that the coming months will prove decisive.

随着比特币在$ 100,000大关以下的比特币战斗时，Ki Young Ju最近声称，目前的牛跑步可能会比历史上的任何人延长，尽管他警告说，未来几个月将证明是决定性的。

When the Bitcoin Bull Run Could End

当比特币牛的跑步可能结束时

While examining on-chain indicators, he noted that Bitcoin teeters on the edge between a bullish surge and a potential bearish downturn. Ju predicts that this extended rally could persist until at least April 2025, a forecast he first made in May 2024, citing the Bitcoin growth rate difference metric.

在检查链链指标时，他指出，比特币摇摇欲坠，在看涨的激增和潜在的看跌衰退之间。 JU预测，这种延长的集会可能会持续到至少2025年4月，这是他于2024年5月首次进行的预测，理由是比特币增长率差异。

However, he emphasized that the next one to two months will reveal whether demand rebounds or fades, potentially pushing indicators into a full downtrend.

但是，他强调，接下来的一到两个月将揭示需求反弹还是淡出，有可能将指标推向完全下降。

Despite the downtrend, Ju has maintained his optimism, highlighting that Bitcoin dropping below $77,000 seems unlikely. Even in a worst-case scenario, he expects the asset to consolidate around that level for several months before climbing again, as previously reported by The Crypto Basic.

尽管下降趋势，JU仍保持了乐观的态度，强调比特币跌至77,000美元以下似乎不太可能。即使在最坏的情况下，他也希望资产在几个月之前在该水平上巩固，然后再攀登，正如加密基础基本的先前报道。

In his latest commentary, the CryptoQuant founder advised against aggressive leveraged bets in either direction, as he urged traders to exercise patience amid this decisive moment in the market.

这位加密素养的创始人在他的最新评论中建议在市场上这一决定性的时刻在这一决定性的时刻努力行使耐心。

Bitcoin in a Manipulation Phase, but Rebound Imminent

在操纵阶段的比特币，但反弹迫在眉睫

Meanwhile, market analyst Cas Abbé noted in a report today that Bitcoin currently lingers in a manipulation phase amid the bearish price action. He pointed out that bullish developments fail to spark upward momentum, with even positive stock market trends leaving Bitcoin unmoved.

同时，市场分析师CasAbbé今天在一份报告中指出，比特币目前在看跌价格行动的操作阶段徘徊。他指出，看涨的事态发展无法激发上升的动力，即使是积极的股票市场趋势也使比特币不动。

Abbé called attention to last September, when the asset hovered at a similar juncture before launching into its next significant climb. He asserted that there might be a brewing opportunity, as market forces may be setting the stage for a breakout, provided traders can navigate the current stagnation.

阿贝（Abbé）呼吁去年9月的注意，当时资产徘徊在一个相似的关头，然后才进入下一个重要的攀登。他断言，可能会有一个酿造机会，因为市场力量可能为突破奠定基础，前提是交易者可以导航当前的停滞。

With BTC down 16.37% this month, February 2025, Bitcoinsensus, a market resource, called attention to the fact that the asset has closed February on a bearish note only twice since 2013, while March typically delivers bullish results over the past four years.

2025年2月的BTC本月下跌了16.​​37％，一种市场资源比特币（Bitcoinsensus）引起了人们的注意，即资产自2013年以来仅在看跌两次的情况下闭上了这一事实，而3月通常会在过去四年中提供看涨的结果。

As the asset looks to close its third bearish February in history, Bitcoinsensus emphasized that March often defies early-year dips, presenting the opportunity for a potential turning point for Bitcoin’s price.

由于资产似乎要关闭其历史上的第三次看跌2月，比特币强调，三月经常违反年初下降，为比特币价格带来了潜在的转折点的机会。

Meanwhile, an analyst known as Master of Crypto observed that past bull cycles followed significant drops—around 35% in 2017 and 33% in 2021—with explosive rallies of 320% and 280%, respectively.

同时，一位被称为加密货币大师的分析师观察到，过去的牛周期大幅下降（2017年35％和2021年的33％），分别为320％和280％。

With Bitcoin recently shedding about 20%, he sees a similar setup unfolding. According to him, the market is largely volatile. Yet, there might be hope in whale activity, with over 26,000 BTC recently moved to long-term investment addresses, as disclosed by The Crypto Basic two days back.

随着比特币最近降低了约20％，他看到类似的设置正在展开。据他说，市场基本上是波动的。然而，正如Crypto Basic在两天前所披露的那样，鲸鱼活动可能有希望，最近有26,000多个BTC转移到了长期投资地址。

He also noted that the stablecoin index, an indicator of fresh capital inflows, is starting to rise. Notably, this is due to an injection of fresh capital in the form of stablecoin mints, which could bolster demand.

他还指出，稳定指数是新鲜资本流入的指标，开始上升。值得注意的是，这是由于以Stablecoin薄荷形式注入新的资本，这可能会增强需求。

Currently, Bitcoin trades for $85,432, down 2.75% in the past 24 hours.

目前，比特币以85,432美元的价格交易，在过去24小时内下跌2.75％。