比特幣（BTC）再次處於關鍵時刻

由於旗艦加密貨幣的調情以110,000美元的水平調情，市場觀察者被分割了：這是BTC重大突破的開始，還是警告信號閃爍看跌？

Bitcoin (BTC) is once again at a critical juncture as the flagship cryptocurrency flirts with the $110,000 level.

比特幣（BTC）再次處於關鍵時刻，因為旗艦加密貨幣以110,000美元的價格調情。

While institutional players continue to dominate Bitcoin’s recent price action, retail interest remains surprisingly muted. Technical indicators suggest Bitcoin is stuck in a range, caught between bullish momentum from long-term holders and short-term bearish pressures.

儘管機構參與者繼續佔據比特幣最近的價格行動，但零售利益仍然令人驚訝。技術指標表明，比特幣被困在一定範圍內，在長期持有人的看漲勢頭和短期看跌壓力之間。

Here’s a breakdown of where Bitcoin stands today — and what could happen next.

這是比特幣今天所處位置的細分 - 接下來可能會發生什麼。

Bitcoin Poised for Breakout? $110K Test Looms Large

比特幣準備突破？ $ 110K測試迫在眉睫

Analysts are eyeing the $110,000 resistance level as the next key hurdle for Bitcoin. A successful breakout above this level could trigger a significant rally, with some bulls projecting a move toward $120,000 and beyond.

分析師將110,000美元的阻力水平視為比特幣的下一個關鍵障礙。超過此水平的成功突破可能會引發重大集會，其中一些公牛將轉移到120,000美元及以上。

Several bullish factors support this scenario:

幾個看漲因素支持這種情況：

According to FXLeaders, Bitcoin’s current consolidation phase is building pressure for an explosive move. The longer BTC hovers near $110,000 without a significant pullback, the greater the likelihood of an upward breakout.

根據FXLEADERS的說法，比特幣的當前合併階段正在為爆炸性移動增加壓力。較長的BTC徘徊在$ 110,000的情況下，沒有明顯的回調，突破的可能性就越大。

BTC price action is building pressure for an explosive move. The longer the price stays in consolidation, the more pressure builds. A breakout (or breakdown) will come eventually, and when it does, it could be swift and decisive. The question is, which way will it go? Will Bitcoin break out to new highs above $110K, setting course for $120K and beyond? Or will it finally give way to bearish selling, testing the lower Fibs around $100K-$102.5K? The answer may depend on a few key factors. Firstly, there are plenty of sellers emerging in this final wave of (c), but they seem to be largely short-term traders taking profits. This is evident in the lower timeframe momentum indicators, which are showing signs of divergence. For instance, the 12-hour RSI is overbought, despite the fact that the price is still within a bullish channel on that timeframe. This suggests that sellers are becoming more active, but they are not yet strong enough to overcome the long-term bullish trends. However, if the price pulls back further and breaks down below the lower Fibs, then this could serve as a strong bearish signal, as it would indicate that the sellers have gained the upper hand.

BTC的價格行動正在為爆炸性舉動增加壓力。價格停留的時間越長，壓力就越多。最終將出現突破（或崩潰），當它這樣做時，它可能是迅速而果斷的。問題是，它將走哪種方式？比特幣會爆發到$ 110K以上的新高點，以$ 120K及以上的價格設定課程？還是最終會讓位於看跌銷售，測試較低的纖維約100k- $ 102.5k？答案可能取決於一些關鍵因素。首先，在最後一波（C）的浪潮中有很多賣家出現，但似乎主要是短期交易者獲利。這在較低的時間範圍動量指標中很明顯，這表明差異的跡象。例如，儘管價格仍在該時間範圍內的看漲渠道內，但12小時的RSI被過分購買。這表明賣方變得越來越活躍，但他們還不足以克服長期看漲趨勢。但是，如果價格進一步降低並在下部纖維以下分解，那麼這可能是一個強烈的看跌信號，因為這表明賣方已經獲得了上風。

Short-Term Bearish Pressures Still Mounting

短期看跌壓力仍在

Despite the optimistic long-term outlook, short-term technicals paint a more cautious picture.

儘管長期前景樂觀，但短期技術描繪了更加謹慎的畫面。

According to TradingView analysts, if Bitcoin fails to break above $110K soon, a correction towards the $100,000-$102,500 support range becomes likely. The near-term bearish pressure is largely attributed to profit-taking by short-term traders and lack of fresh retail inflows.

根據TradingView分析師的數據，如果比特幣不久就無法折扣11萬美元，則可能會更正100,000美元至102,500美元的支持範圍。近期看跌壓力在很大程度上歸因於短期交易者的利潤和缺乏新鮮零售流入。

If the sellers can manage to push the price below the lower Fibs, then this could open up a move to the 38.2% Fibonacci retracement level at $97K or the 50% Fibonacci retracement level at $91K.

如果賣方可以設法將價格推高到較低的纖維以下，那麼這可能會使佛比納奇回回38.2％的搬遷至97,000美元或50％的斐波那契回收水平為$ 91K。

The tide could turn if we see a decisive breakout above $110K, as this could serve to attract new buyers into the market and ultimately push the price higher.

如果我們看到超過$ 110k的決定性突破，潮流可能會扭轉，因為這可以吸引新的買家進入市場，並最終將價格提高提高。

Where Are the Retail BTC Investors?

零售BTC投資者在哪裡？

One of the more puzzling aspects of Bitcoin’s current rally is the lack of retail participation. Despite BTC nearing new all-time highs, Google search volumes for Bitcoin remain flat, a stark contrast to the 2021 bull run where retail FOMO (Fear of Missing Out) drove parabolic price spikes.

比特幣目前集會的最令人困惑的方面之一是缺乏零售參與。儘管BTC接近新的歷史新高，但Google的比特幣搜索量仍然是平坦的，與2021年的公牛運行形成鮮明對比，零售FOMO（擔心錯過）驅動了拋物線價格峰值。

Cointelegraph reports:

COINTELEGRAPH報告：

This divergence suggests that the current Bitcoin rally is institutional-driven, lacking the retail frenzy that typically accompanies major bull markets. While this could mean a more stable uptrend, it also raises questions about the sustainability of Bitcoin’s momentum without broader market engagement.

這種分歧表明，當前的比特幣集會是機構驅動的，缺乏通常伴隨主要牛市的零售瘋狂。雖然這可能意味著更穩定的上升趨勢，但它也提出了有關比特幣勢頭可持續性的疑問，而沒有更廣泛的市場參與。

What to Watch Next for U.S. Investors

接下來要看的是美國投資者

For U.S. investors eyeing Bitcoin, here are the key levels and events to monitor:

對於關注比特幣的投資者來說，這是要監控的關鍵水平和事件：

Will Bitcoin Break Out or Retrace?

比特幣會爆發還是反擊？

The current standoff between institutional buyers and cautious retail investors is creating a high-stakes scenario for Bitcoin. A decisive breakout above $110,000 could ignite the next leg of the bull market, but failure to breach this resistance could trigger a corrective pullback.

機構買家和謹慎的零售投資者之間的當前僵局正在為比特幣創造高風險。超過110,000美元的決定性突破可能會點燃下一個牛市的下一條比賽，但是不違反這種阻力可能會引發糾正措施的回調。

For now, Bitcoin remains stuck in a tug-of-war — but with volatility brewing, a major move seems inevitable.

就目前而言，比特幣仍然陷入拔河比賽中 - 但是隨著波動性釀造，似乎是不可避免的。