比特幣（BTC）進入關鍵範圍：買家目標$ 100K突破

比特幣的交易在關鍵的價格範圍內，低於$ 90,000的跌幅可能會觸發勢頭的轉變

Bitcoin (BTC) is encountering strong resistance as bullish sentiment begins to wane, leading to a return of sellers in greater numbers, according to technical analysis.

根據技術分析，比特幣（BTC）遇到強烈的抵抗力，隨著看漲的情緒開始消失，導致賣方的回報率更高。

After an impressive run that saw it test new highs for the year, the flagship cryptocurrency is now attempting to confirm the critical $92,000-$93,000 support zone as a base for continuation. However, if selling pressure continues to increase, a breakdown below this area could trigger a sharper correction and signal a potential shift in the overall trend.

經過令人印象深刻的運行，它測試了一年的新高點，旗艦加密貨幣現在正試圖確認關鍵的92,000美元至93,000美元的支持區作為延續的基礎。但是，如果銷售壓力不斷增加，那麼低於該區域的故障可能會引發更新的校正，並表示總體趨勢的潛在轉變。

Top analyst Axel Adler shared insights that highlight a key risk factor: in the current bull cycle, short-term holders tend to take profits once their Net Unrealized Profit and Loss (NUPL) exceeds 40%.

頂級分析師阿克塞爾·阿德勒（Axel Adler）共享了一個關鍵危險因素的見解：在當前的牛週期中，一旦其未實現的損益（NUPL）超過40％，短期持有人傾向於獲利。

"This level is usually reached around $95,000-$97,000 in the current cycle, and historically, it marks the point where speculators begin offloading their positions," explained Adler.

阿德勒解釋說：“在當前週期中，這個水平通常達到$ 95,000- $ 97,000，歷史上，這標誌著投機者開始卸載其頭寸的地步。”

"This increases spot market supply and puts downward pressure on price, especially as institutions and funds typically hold for longer-term cycles and aren't likely to sell at these levels."

“這增加了現貨市場的供應，並給價格下降壓力，尤其是當機構和資金通常用於長期週期，並且不太可能在這些水平上出售。”

This observation is particularly relevant as Bitcoin recently showed signs of stalling after failing to sustain momentum above the $98,000 mark.

該觀察結果尤其重要，因為比特幣最近未能維持超過98,000美元的勢頭後顯示出停滯的跡象。

With traders growing increasingly cautious and macroeconomic uncertainty weighing on market sentiment, the coming days will be crucial for determining the next move.

隨著貿易商的日益謹慎和宏觀經濟的不確定性對市場情緒產生壓力，未來幾天對於確定下一步行動至關重要。

"The structure remains intact for now, but BTC must hold the $92K region to avoid flipping key support into resistance," noted the analyst.

該分析師指出：“目前，該結構保持完整，但是BTC必須持有$ 92K的區域，以避免將鑰匙支撐轉向阻力。”

"A clean bounce from this level could revive the bullish case, but failure to hold could shift sentiment further bearish. As market participants watch closely, Bitcoin faces one of its most serious tests in this cycle. The next move may define the trend for weeks to come."

“從這個水平進行乾淨的反彈可能會恢復看漲的案件，但如果不舉行可能會改變情緒。隨著市場參與者密切關注，比特幣在此週期中面臨最嚴重的測試之一。下一步行動可能會定義未來幾週的趨勢。”

Bitcoin Enters Pivotal Range: Buyers Target $100K Breakout

比特幣進入關鍵範圍：買家目標$ 100K突破

Bitcoin is trading within a crucial price range, where a drop below $90,000 could trigger a shift in momentum toward the downside, while a breakout above $100,000 could spark a powerful new leg of the bull cycle.

比特幣在關鍵的價格範圍內交易，低於$ 90,000的跌幅可能會觸發動力向不利的一面轉移，而超過100,000美元以上的突破可能會引發強大的新牛週期。

After enduring months of selling pressure from its all-time highs, BTC is showing renewed strength and attempting to confirm a broader bullish setup for the entire market. The recent push above $92K was a key technical step, but now bulls must defend that level and build momentum toward a sustained breakout.

在經歷了幾個月的銷售壓力之後，BTC表現出了新的實力，並試圖確認整個市場的更廣泛的看漲設置。最近的推動力超過$ 92K是一個關鍵的技術步驟，但是現在，公牛必須捍衛這一水平，並為持續的突破而建立動力。

However, market conditions remain volatile. The current environment is shaped by macroeconomic uncertainty and rising geopolitical tensions, creating unpredictable swings across crypto and traditional markets.

但是，市場狀況仍然波動。當前的環境是由宏觀經濟的不確定性和地緣政治緊張局勢升高的，在加密和傳統市場之間造成了不可預測的波動。

Still, Bitcoin’s price structure suggests bulls are gaining the upper hand—at least for now.

儘管如此，比特幣的價格結構表明，至少目前，公牛隊正在佔上風。

Adler shared insights on the role of short-term holders (1–3 months), who are often the most aggressive market participants. This group includes professional speculators, many of whom trade Bitcoin via ETF platforms.

阿德勒（Adler）分享了對短期持有人（1-3個月）的作用的見解，這些持有人通常是最激進的市場參與者。該小組包括專業投機者，其中許多通過ETF平台進行了交易比特幣。

Historically, in this bull cycle, when their Net Unrealized Profit and Loss (NUPL) exceeds 40%, they begin to take profits, which contributes to sell pressure. Currently, NUPL sits at just 8%, with its 30-day SMA still negative at -2%, signaling that short-term holders are not yet selling in large numbers.

從歷史上看，在這個公牛週期中，當他們的淨未實現的損益（NUPL）超過40％時，他們開始獲得利潤，這有助於賣出壓力。目前，NUPL僅為8％，其30天SMA仍為-2％，這表明短期持有人尚未大量銷售。

This low NUPL level suggests minimal immediate selling risk, which reinforces the bullish case. As long as NUPL remains subdued, Bitcoin could have room to continue climbing before profit-taking begins.

這種低的NUPL水平表明，立即銷售風險最少，這加強了看漲的案件。只要NUPL保持柔和，比特幣就可以在獲利開始之前繼續攀登。

The coming days will be critical—holding above $90K and building toward $100K could open the door for a breakout, while failure to do so may usher in renewed weakness.

接下來的日子將是至關重要的 - 持有超過$ 90K的股份，朝著10萬美元的價格建造可能打開突破的大門，而未能這樣做可能會引起新的弱點。

All eyes remain on Bitcoin as it stands at one of its most decisive moments in this cycle.

在本週期中，所有目光都保持在比特幣上。

Price Action Details: Holding Strong But Facing Resistance

價格動作細節：保持強大但面臨抵抗力

Bitcoin is currently trading around $94,158 after a modest pullback from the recent local high near $97,000. The daily chart shows that BTC remains well above both the 200-day simple moving average (SMA) at $90,542 and the 200-day exponential moving average (EMA) at $86,381, suggesting that the broader trend remains bullish.

比特幣目前的交易約為94,158美元，此前當地高點接近97,000美元，比特幣的價格適中。每日圖表顯示，BTC遠高於200天簡單的移動平均線（SMA），為90,542美元，而200天的指數移動平均線（EMA）為86,381美元，這表明更廣泛的趨勢仍然是看好的。

After breaking through the key $90K level in April, Bitcoin rallied strongly but is now consolidating just below the psychological $100K resistance. Volume has started to taper off, indicating short-term indecision as bulls and bears battle for control. A continued hold above $92K would reinforce the bullish case, potentially setting the stage for a renewed breakout toward $100K and the previous cycle high of $103,600.

在四月份突破了$ 90,000的主要$ 90k水平之後，比特幣集會強烈集會，但現在正固結在心理$ 10萬美元的阻力之下。數量已經開始逐漸減少，表明短期猶豫不決，因為公牛和熊要爭取控制。持續持有的$ 92K將加強看漲的案件，有可能為重新分配的重新分配奠定了基礎，而先前的周期高點為103,600美元。

However, a breakdown below $92K could signal a loss of momentum and increase the likelihood of a retest of the 200-day SMA near $90K. This level now

但是，低於$ 92K的細分可能表明勢頭損失，並增加了200天SMA近90,000美元的重新測試的可能性。現在這個級別