比特幣（BTC）價格下跌$ 102,400，隨著華爾街的飆升，美國 - 中國緊張局勢飆升

華爾街在華盛頓和北京之間緩解緊張局勢的飆升時，比特幣本身跌至$ 102,400以下

While Wall Street soared amid easing tensions between Washington and Beijing, bitcoin dropped below $102,400 on May 12. An unexpected decline, contrasting with the prevailing optimism and institutional momentum of recent weeks. Why did BTC not benefit from the market euphoria? Just hours before the release of the US CPI, investors wonder: a simple profit-taking, or a warning signal of deeper macroeconomic stress?

華爾街在華盛頓和北京之間緩解緊張局勢時飆升，而比特幣在5月12日下降到102,400美元以下。意外的下降，與近幾週的普遍樂觀和機構勢頭形成鮮明對比。為什麼BTC不從市場上受益？在美國CPI發布前幾個小時，投資者想知道：一個簡單的盈利或更深層宏觀經濟壓力的警告信號？

A technical correction driven by the macroeconomic context

由宏觀經濟環境驅動的技術校正

On May 12, bitcoin experienced a sudden drop, sliding from an intraday peak of $105,819 to a low of $102,388, without a clearly bearish macroeconomic catalyst. However, this decrease takes place in an overall favorable context.

5月12日，比特幣突然下降，從105,819美元的盤中峰值下滑到102,388美元的低點，沒有明顯看跌的宏觀經濟催化劑。但是，這種減少是在整體有利的背景下發生的。

Trade negotiations between Washington and Beijing progressed in Geneva, which sparked enthusiasm in the market. Notably, US President Donald Trump himself praised the progress on his Truth Social platform, alluding to a promising agreement.

華盛頓和北京之間的貿易談判在日內瓦進行了進展，這激發了市場的熱情。值得注意的是，美國總統唐納德·特朗普（Donald Trump）本人讚揚了他的真相社會平台上的進步，並提到了有前途的協議。

At market open, the Dow Jones soared by 1,000 points, but bitcoin did not follow suit. Some traders believe the market has already priced in the effects of Trump’s deal with China, as bitcoin failed to maintain its gains above $104,000 despite such major news.

在市場公開賽上，道瓊斯瓊斯飆升了1,000分，但比特幣並未效仿。一些交易者認為，儘管這麼重大新聞，但比特幣未能將其維持在104,000美元以上的收益，因此該市場已經定價為特朗普與中國達成的影響。

Beyond this macroeconomic interpretation, market data reveals profit-taking and risk reduction by some investors. This caution could be linked to the anticipation of the CPI (Consumer Price Index) figures, scheduled for release on May 13. Technical and behavioral indicators support this hypothesis:

除了這種宏觀經濟解釋之外，市場數據還揭示了一些投資者的利潤和降低風險。該謹慎可以與計劃於5月13日發布的CPI（消費者價格指數）數字的預期有關。技術和行為指標支持此假設：

* The Relative Strength Index (RSI) on the 4-hour chart crossed below the overbought zone, suggesting a potential loss of bullish steam.

* 4小時圖表上的相對強度指數（RSI）越過了超買區，這表明看漲蒸汽的潛在損失。

* The Accumulation, Volume Point (AVP) indicator also shows a slight decrease, indicating reduced buying pressure.

*積累，體積點（AVP）指標還顯示出略有下降，表明購買壓力降低。

* Finally, the absence of strong follow-through after the attempt to break through the $104,000 resistance level, despite favorable news, points toward technical resistance.

*最終，儘管有好消息，但仍未達到104,000美元的阻力水平，但仍沒有強大的追隨者指向技術抵抗。

These signals confirm that BTC’s retreat is essentially technical and opportunistic, rather than a reaction to a deteriorated fundamental factor.

這些信號證實，BTC的撤退本質上是技術和機會主義的，而不是對惡化的基本因素的反應。