比特幣[BTC]從$ 97K的高處下降4％

要求一個$ 10萬美元的目標，而比特幣[BTC]僅在三天內就從其97,000美元的高價下跌了4％，這聽起來可能有些雄心勃勃。

Bitcoin price has encountered a setback in its rally, sliding 4% from its three-day high of $97k.

比特幣的價格在其集會中遇到了挫折，比其三天的$ 97,000滑下了4％。

However, on-chain data from Glassnode reveals that Bitcoin network activity recently hit its highest point in six months.

但是，玻璃節鏈的鏈數據顯示，比特幣網絡活動最近在六個月內達到了其最高點。

On April 30, 925,914 active addresses participated in the Bitcoin network in a single day, a level not seen since December 2023.

925,914年4月30日，有效地址在一天之內參加了比特幣網絡，這是自2023年12月以來未見的水平。

At the time, BTC was trading at around $96,951.

當時，BTC的交易約為96,951美元。

However, the massive network activity did not lead to a strong rally in the cryptocurrency. In fact, BTC price fell nearly 2% the very next day.

但是，大規模的網絡活動並沒有導致加密貨幣的強烈集會。實際上，第二天BTC價格下跌了近2％。

This pattern is similar to the one observed in early March, when active addresses spiked to 860k on the 7th of March, the highest in a week, only for BTC to retrace 7% as active addresses declined shortly after.Image: BTC price action vs active addresses (last 3 months)

這種模式類似於3月初觀察到的模式，當時有效地址在3月7日飆升至860k，這是一周內最高的，只有BTC在Active Adveress後不久就會回顧7％。圖片映像：BTC價格動作與活動地址（上3個月）（上3個月）

This price-action behavior showcases a bearish divergence between on-chain activity and price movement.

這種價格行動行為在鏈活動和價格運動之間表現出看跌的差異。

Furthermore, AMBCrypto's analysis of on-chain data on the same day the active address count surged, revealed that approximately 5,000 BTC, valued at around $484 million, flowed into derivative exchanges.

此外，Ambcrypto對主動地址計數的同一天對鏈上數據的分析顯示，大約5,000 BTC的價值約為4.84億美元，流入了衍生品交易所。

This inflow signals speculative positioning rather than genuine spot BTC demand.

這種流入的信號是投機定位，而不是真正的現貨BTC需求。

So, instead of long-term holders stacking up, the market could be witnessing leverage-driven selling, which likely caused the price dip.

因此，市場可能目睹槓桿驅動的銷售可能導致價格下跌，而不是長期持有人堆積。

Is Bitcoin running out of FOMO as active addresses plunge?

比特幣是否用來活躍的地址暴跌？

The last time Bitcoin experienced significant spot demand was on April 29, when net outflows across all exchanges spiked while BTC was priced at $94,280.

比特幣上一次經歷了重大的需求，是4月29日，當時BTC的淨流出在所有交易所的淨流出時，價格為94,280美元。

Since then, although the price has touched key resistance levels, net flows have remained largely flat, suggesting a lack of substantial buying or selling pressure from major traders.

從那時起，儘管價格觸及了關鍵阻力水平，但淨流量基本上仍然是平坦的，這表明缺乏重大買賣或出售主要商人的壓力。

This could be a sign of bullish fatigue as retail traders are taking a step back from the market.Image: Bitcoin net exchange outflows vs price action (last 3 months)

這可能是看漲疲勞的跡象，因為零售交易員正在從市場上退後一步。

After reaching a six-month peak on May 2, Bitcoin's active addresses sharply declined to a two-week low of 618k the day after.

在5月2日達到六個月的高峰之後，比特幣的活動地址急劇下降到第二天的兩週低點，為61.8 k。

This drop reflected a clear hesitation among traders to engage in spot buying near the $97k level. Hence, signaling waning participation and reluctance to accumulate BTC at elevated valuations.

這次下降反映了交易者明顯猶豫不決地參與了$ 97,000美元的水平。因此，信號導致參與和不願意在估值高度上積累BTC。

In this context, the $100k price target appears increasingly unrealistic.

在這種情況下，$ 10萬美元的價格目標似乎越來越不現實。