在市場波動的情況下，比特幣（BTC）面對關鍵關頭

根據Bitfinex Alpha的數據，比特幣在強勁的景點需求和宏觀經濟風險中經歷了重大的價格校正，一周內清算了超過19億美元。

Bitcoin (BTC) experienced a significant price correction this week as strong spot demand and macroeconomic risks drove a textbook crypto rally, according to a recent report by Bitfinex Alpha.

Bitfinex Alpha最近的一份報告顯示，本週比特幣（BTC）在本週進行了重大的價格校正，因為Bitfinex Alpha最近的一份報告稱，強勁的斑點需求和宏觀經濟風險推動了教科書加密集會。

The cryptocurrency experienced a 10% decline from its all-time high (ATH), encountering a downturn that peaked on June 5 with over $875 million in long positions liquidated in a single day.

該加密貨幣的歷史最高水平（ATH）下降了10％，遇到了6月5日的低迷，一日清算了超過8.75億美元的長位置。

This incident highlights the aggressive nature of the market's current process, having seen over $1.9 billion liquidated in the past week alone.

這一事件強調了市場當前流程的侵略性，僅在過去一周中，就已經清算了超過19億美元。

The technical structure of the market indicates that BTC's rally was largely supported by real demand, evident in the series of spot-led price increments and the formation of crucial accumulation zones, notably between $93,000–96,000 and $102,000–104,000.

市場的技術結構表明，BTC的集會在很大程度上得到了實際需求的支持，這在一系列點播的價格增長和重要的積累區域的形成中很明顯，尤其是在93,000-96,000美元至102,000-104,000美元之間。

On-chain indicators currently suggest increased selling pressure as long-term investors begin distributing their holdings. The Spent Supply Distribution (SSD) index and the Short-Term Holder Cost Bands (STH) provide a clear roadmap for support levels.

鏈上指標目前表明，隨著長期投資者開始分配其持股，銷售壓力增加。用過的供應分配（SSD）指數和短期持有人成本頻段（STH）為支持水平提供了明確的路線圖。

An SSD level of 0.95 at $103,700 marks the initial support zone, followed by $97,100 (STH Cost) and $95,600 (SSD 0.85), with $83,200 identified as a critical risk level. These levels are pivotal as they represent the cost bases of major investors and recent buyers, serving as potential re-entry points or liquidation triggers.

SSD水平為0.95美元，$ 103,700標誌著初始支持區，其次是$ 97,100（STH成本）和95,600美元（SSD 0.85），其中83,200美元確定為關鍵風險水平。這些水平是關鍵的，因為它們代表了主要投資者和最近的買家的成本基礎，並作為潛在的重新進入點或清算觸發器。

In the broader U.S. macroeconomic landscape, May's job growth data revealed some vulnerabilities. While the headline figures showed an addition of 180,000 jobs, this represents a slowdown from the prior month and signals initial pressures from trade tensions and tariff uncertainties.

在更廣泛的美國宏觀經濟景觀中，梅的工作增長數據顯示出一些漏洞。儘管標題數字顯示增加了18萬個工作崗位，但這是前一個月的放緩，並表示貿易緊張局勢和關稅不確定性的初步壓力。

Although average hourly earnings rose steadily by 0.3%, remaining within expectations at 4.4% year-over-year, the shrinking labor force and downward revisions to past employment data suggest a weakening labor market.

儘管平均每小時收入穩步上漲了0.3％，但預期的範圍卻達到4.4％，但對過去就業數據的勞動力和向下修訂的縮水錶明勞動力市場正在減弱。

Furthermore, both the ISM Manufacturing and Services PMI scores slid deeper into contraction territory in May due to rising input costs and declining demand, highlighting the widespread impact of tariffs on the U.S. economy.

此外，由於投入成本的上升和需求的下降，ISM製造業和服務PMI在5月的收縮領土上的分數更深，突出了關稅對美國經濟的廣泛影響。

On a positive note, the U.S. trade deficit narrowed significantly in April as imports declined sharply, particularly from China, due to weakened demand and inventory buildups during the prior period. However, this decline in imports is a point of concern as it could lead to future shortages and drive up inflation.

從積極的角度來看，由於進口量急劇下降，特別是來自中國的進口量急劇下降，由於上一時期的需求和庫存積累，進口量急劇下降。但是，進口的這種下降是一個關注點，因為它可能導致未來的短缺並推動通貨膨脹提高。

Investor interest in U.S. long-term bonds appeared to be waning, according to auction data and futures markets, which also indicated some skepticism towards financial stability.

根據拍賣數據和期貨市場，投資者對美國長期債券的興趣似乎正在減弱，這也表明對金融穩定性表示懷疑。

In other developments, cryptocurrency adoption continued to accelerate across various sectors. IG Group, a well-known British trading platform, secured approval to become the first listed company in the UK to offer spot cryptocurrency trading for retail investors, in partnership with Uphold.

在其他發展中，加密貨幣採用在各個部門繼續加速。 IG Group是一家著名的英國交易平台，獲得了批准，成為英國第一家為零售投資者提供現貨加密貨幣交易的上市公司，並與UPHOLD合作。

This move marks a significant shift from the previously available speculative derivative products to actual asset ownership.

此舉標誌著從以前可用的投機衍生產品到實際資產所有權的重大轉變。

This development also comes as the UK Financial Conduct Authority (FCA) proposed lifting its ban on crypto exchange-traded notes (cETNs) for retail investors, signaling broader regulatory support for digital assets.

這一發展還出現在英國金融行為管理局（FCA）提議取消對散戶投資者的加密交易所交易票據（CETN）的禁令，這表明對數字資產的更廣泛的監管支持。

Additionally, Metaplanet, a Japanese company, announced plans to raise ¥850 billion ($5.4 billion) in equity to massively expand its Bitcoin portfolio, aiming to hold 210,000 BTC by 2027. This initiative highlights Asia's expanding role in institutional cryptocurrency adoption.

此外，日本公司Metaplanet宣布了計劃籌集8500億日元（54億美元）的股權，以大規模擴大其比特幣投資組合，旨在到2027年持有210,000 BTC。這項倡議重點介紹了亞洲在Asia在機構採用機構中的擴展作用。