After Spending Most of February Trading Within a Range, Bitcoin (BTC) Has Broken Below the Consolidation Zone

在2月份的大部分交易范围内花费了大部分时间之后，比特币（BTC）在合并区以下损坏，自11月以来首次下跌了90,000美元。

Bitcoin (BTC) price slipped below $90,000 for the first time since November, continuing its downward trajectory.

自11月以来，比特币（BTC）的价格首次下跌了90,000美元，继续其下降轨迹。

The world’s leading cryptocurrency is currently trading at $88,956, and while it did manage to recover slightly, it seems that the bears might have more room to run in March.

全球领先的加密货币目前的交易价格为88,956美元，虽然确实稍微恢复了，但似乎三月份的熊队可能有更多的空间。

After spending most of February trading within a range, Bitcoin broke below the consolidation zone and continued slipping lower.

在2月份的大部分交易范围内花费了大部分时间之后，比特币在合并区以下打破，并继续下滑。

This downturn signals growing bearish pressure, especially with lead analyst at Santiment, Brian, highlighting that Bitcoin whales are reducing their trading activity, which might lead to further declines in the coin’s value.

这种低迷的信号表明看跌压力，尤其是在santiment的首席分析师布莱恩（Brian）的牵头分析师中强调，比特币鲸正在减少其交易活动，这可能会导致硬币价值进一步下降。

“Bitcoin whales seem to have taken a bit of a breather and aren’t accumulating at the moment (mostly staying flat). We’re used to seeing large BTC holders either massively buy or sell, but they’ve become rather indifferent as of late,” Brian told BeInCrypto.

“比特币鲸似乎有点喘息，目前还没有积累（主要是平坦）。我们习惯于看到大型BTC持有人大量购买或出售，但截至最近他们变得漠不关心。” Brian告诉Beincrypto。

This is supported by data from IntoTheBlock, which shows that the Bitcoin large holders netflow index plummeted by over 600% in the past 30 days.

这是由Intotheblock的数据支持的，该数据表明，比特币大持有人Netflow指数在过去30天中下降了600％以上。

Large holders are defined as whale addresses that hold more than 0.1% of an asset’s circulating supply. The netflow measures the difference between the total coins these investors bought and sold over a specific period.

大型持有人被定义为鲸鱼地址，占资产循环供应量的0.1％以上。 NetFlow衡量了这些投资者在特定时期内买卖的总硬币之间的差异。

When it decreases, it signals that key investors are reducing their token holdings, which may exacerbate the downward pressure on BTC’s price as supply increases in the market.

当它减少时，它表明主要投资者正在减少其代币持有量，这可能会随着市场供应的增加而加剧BTC价格的下降压力。

This contrasts with the recent statement by Ledn’s Chief Investment Officer (CIO) John Glover, who predicts that BTC will likely remain range-bound between $89,000 and $108,000 in March.

这与莱德（Ledn）首席投资官（CIO）约翰·格洛弗（John Glover）最近发表的声明形成鲜明对比，后者预测BTC可能会在3月的89,000美元至108,000美元之间保持范围。

“From a technical perspective, BTC is following 1 of 2 paths. In the first place, there is good potential for a dip to $89,000 or even $77,000 before the next rally. In the second, we have already seen the lows, and the next move will be higher, up to ~$130,000. It’s impossible to predict which path we’re on, and short-term predictions are meaningless when intraweek/intra-month moves are dictated by news and, recently, by the actions of big players like Strategy. My personal view is that we remain stuck in a range of $89,000 to 108,000 in March,” Glover explained.

“从技术角度来看，BTC遵循2条路径中的1个。 In the first place, there is good potential for a dip to $89,000 or even $77,000 before the next rally.在第二个中，我们已经看到了低点，下一步将更高，最高约为130,000美元。不可能预测我们正在走的道路，而短期预测是毫无意义的/一月/月内动作是由新闻决定的，而最近，诸如策略之类的大参与者的行动都决定了。 My personal view is that we remain stuck in a range of $89,000 to 108,000 in March,” Glover explained.

Moreover, given President Donald Trump’s pro-crypto stance, some investors are curious about how his policies might affect Bitcoin’s price in March. However, Glover believes that the "Trump effect" has been largely felt.

此外，鉴于唐纳德·特朗普总统的亲克赖特托立场，一些投资者对他的政策可能如何影响比特币的价格感到好奇。 However, Glover believes that the "Trump effect" has been largely felt.

“The majority of the "Trump effect" has already been felt. We know he is very supportive of digital assets and has set in motion his plans to streamline regulations associated with crypto. I don’いきましょう

“The majority of the "Trump effect" has already been felt.我们知道他非常支持数字资产，并启动了他的计划简化与加密货币相关的法规。 I don'いきましょう