投资者情绪达到6个月的低点，因为比特币摊位低于$ 90k

随着宏观经济的不确定性和美国总统唐纳德·特朗普（Donald Trump）的不稳定政策决定，比特币和美国股票正面临越来越大的压力。

Bitcoin and US equities are facing mounting pressure as macroeconomic uncertainty and erratic policy decisions from US President Donald Trump continue to shake investor confidence.

随着宏观经济的不确定性和美国总统唐纳德·特朗普（Donald Trump）的不稳定政策决定，比特币和美国股票正面临越来越大的压力。

With unexpected tariff announcements and unstable foreign policy stances dominating headlines, markets have become increasingly volatile. Bitcoin, often seen as a hedge against traditional market instability, has entered a consolidation phase around the $85,000 level.

随着意外关税公告和不稳定的外交政策立场主导着头条新闻，市场变得越来越波动。比特币通常被视为对冲传统市场不稳定的对冲，已经在85,000美元的水平上进入了合并阶段。

After weeks of sharp price swings, BTC appears to be gathering momentum for its next major move—up or down.

经过数周的价格波动，BTC似乎正在为下一个重大行动（以下行动）收集动力。

Despite hopes for a strong recovery following its all-time high earlier this year, sentiment across the crypto space has grown increasingly bearish. According to new data from CryptoQuant, investor and trader outlook on Bitcoin has shifted significantly.

尽管在今年早些时候有史以来高度恢复后，人们希望能有很强的恢复，但整个加密货币领域的情绪越来越多。根据CryptoQuant的新数据，对比特币的投资者和交易员前景已经发生了重大变化。

The Bitcoin Sentiment Vote – Up or Down chart reveals a clear transition toward negative sentiment, with a majority now betting against further short-term gains. This trend mirrors conditions last seen in September 2024, just before the market’s last major rally.

比特币情绪投票 - 向上或下图揭示了向负面情绪的明确过渡，现在多数赌注对进一步的短期收益进行下注。这一趋势反映了2024年9月的最后一次条件，就在市场上一次重大集会之前。

With sentiment turning sour and price action narrowing, Bitcoin’s current position at $85K has become a battleground for bulls and bears. Whether this period of indecision resolves in a breakout or breakdown may depend heavily on broader economic developments and investor reaction to continued political instability.

随着情绪变酸和价格行动的变化，比特币目前在8.5万美元处的头寸已成为公牛和熊的战场。这一犹豫不决的时期是否在突破或崩溃中解决可能在很大程度上取决于更广泛的经济发展和投资者对持续的政治动荡的反应。

Investor Sentiment Hits 6-Month Low As Bitcoin Stalls Below $90K

投资者情绪达到6个月的低点，因为比特币摊位低于$ 90k

Investors face a crucial moment as Bitcoin trades in a tight range, struggling to reclaim key resistance levels while holding above critical support.

当比特币交易处于紧密的范围内，投资者面临着关键的时刻，努力地恢复了关键阻力水平，同时保持了关键的支持。

Despite attempts to initiate a recovery, bulls have been unable to generate enough momentum to push prices meaningfully higher, while bears have failed to force a decisive breakdown. This ongoing stalemate has heightened market tension.

尽管试图开始恢复，但公牛仍无法产生足够的动力来提高价格，而熊则未能迫使果断的崩溃。这种持续的僵局增强了市场紧张局势。

The failure to reclaim the $90K level and hold above $85K consistently has led some analysts to question whether the current cycle is still intact. The pressure on bulls to prove the continuation of the bull run is mounting, as sentiment begins to shift toward a more cautious—or even bearish—outlook.

未能收回$ 90K的水平并持续持有85,000美元以上，这使一些分析师质疑当前周期是否仍然完好无损。随着情绪开始向更谨慎（甚至看跌）的外观，对公牛的压力证明了牛的延续。

Top analyst Axel Adler shared insights on X that paint a sobering picture. According to Adler, after Bitcoin reached its ATH, sentiment took a sharp turn for the worse.

顶级分析师阿克塞尔·阿德勒（Axel Adler）在X上分享了X绘制清醒图片的见解。根据阿德勒的说法，比特币达到其ATH之后，情绪变得更糟。

This shift is clearly illustrated in the Bitcoin Sentiment Vote – Up or Down chart. The current quarterly sentiment ratio has dropped to levels not seen since September 2024, just before the market’s last major rally.

在比特币情绪投票中清楚地说明了这一转变 - 向上或向下图表。自2024年9月，就在市场上一次重大集会之前，当前的季度情绪比率已下降到从未见过的水平。

While it’s possible that this bearish sentiment could serve as a contrarian indicator—signalling a bottom—many believe it reflects deeper uncertainty.

虽然这种看跌的情绪可能是一个逆势指标（底部签名），但它认为它会反映出更深层的不确定性。

With macroeconomic instability and geopolitical concerns on the rise, Bitcoin’s next move will be crucial in determining whether the broader market sees a renewed uptrend or enters a prolonged bearish phase.

随着宏观经济的不稳定和地缘政治的关注，比特币的下一步行动对于确定更广泛的市场是否会看到更新的上升趋势或进入延长的看跌阶段至关重要。

As traders watch the $85K–$90K zone closely, the coming days may be decisive for BTC’s trajectory in 2024.

当交易员密切关注$ 85K - $ 90K的区域时，未来几天对于2024年BTC的轨迹可能是决定性的。

Bulls Face Growing Pressure

公牛面临日益严重的压力

Bitcoin is currently trading at $84,200, holding just below the critical $85,000 level where both the 200-day moving average (MA) and exponential moving average (EMA) converge.

比特币目前的交易价格为84,200美元，距离关键的85,000美元低于200天的移动平均水平（MA）和指数移动平均水平（EMA）融合。

This area has become a significant resistance zone, and bulls have struggled to push past it. To initiate a strong recovery rally, BTC must break above the $88,000 level—this would confirm momentum and could trigger a swift move back toward the psychological $90,000 mark.

该地区已成为一个重要的抵抗区，公牛队一直在努力克服它。为了发起强大的恢复集会，BTC必须超过88,000美元的水平，这将确认动力，并可能迅速转移到心理上的90,000美元大关。

For now, price action remains range-bound and uncertain, with bearish sentiment still weighing on the market. While BTC has managed to hold above short-term support at $82,000, the inability to reclaim the 200-day MA/EMA cluster raises concerns about further downside pressure.

目前，价格行动仍然存在范围和不确定性，看跌的情绪仍在市场上。尽管BTC设法以82,000美元的价格保持了短期支持，但无法收回200天的MA/EMA群集引起了人们对进一步下行压力的担忧。

If bulls fail to defend current demand and the price drops below $82,000, a retest of the $81,000 level is likely. Losing that support could open the door for a deeper correction toward the $78,000–$75,000 range. This scenario would further shake investor confidence and reinforce the growing narrative that the market is transitioning into a longer consolidation or bearish phase.

如果公牛没有捍卫当前的需求，而价格下跌了82,000美元，则可能会重新测试81,000美元的水平。失去支持可能会为78,000-75,000美元的范围更深入地更正。这种情况将进一步动摇投资者的信心，并增强了越来越多的叙述，即市场正在过渡到更长的巩固或看跌阶段。

The coming days are critical, and all eyes remain on BTC’s ability to flip $85K into support and target higher resistance zones.

接下来的日子至关重要，所有目光都关注BTC将$ 85K投入支撑并针对更高阻力区域的能力。