由於冷卻美國通貨膨脹可能會導緻美食降低，比特幣（BTC）價格徘徊在歷史高峰附近

比特幣的價格一直保持穩定，徘徊在其歷史最高點111,800美元以下。

Bitcoin (CRYPTO: BTC) price has remained nearly unchanged in recent hours, hovering just below the $112,000 mark. As the cryptocurrency market continues to display strong momentum, questions arise regarding whether Bitcoin will break through to reach new all-time highs. This speculation is amplified by the recent reports of cooling inflation in the U.S. and the ongoing U.S.-China trade talks, both of which could play crucial roles in shaping market behavior.

最近幾個小時，比特幣（加密：BTC）價格幾乎保持不變，徘徊在112,000美元以下。隨著加密貨幣市場繼續表現出強勁的動力，關於比特幣是否會突破以達到新的歷史高點的問題。最近關於美國和正在進行的美國 - 中國貿易談判的冷卻通貨膨脹的報導擴大了這種猜測，這兩者在塑造市場行為中都起著至關重要的作用。

According to data from blockchain analytics firm Glassnode, Bitcoin price is currently trading at $109,535, a few percent below its all-time high of $111,800. As the market approaches the later stages of a bull run, Long-term Holders (LTHs) continue to dominate the wealth distribution, a trend observed in previous cycles.

根據區塊鏈分析公司GlassNode的數據，比特幣價格目前的交易價格為109,535美元，比其歷史最高點111,800美元低幾％。隨著市場的臨近，牛的後期階段，長期持有人（LTHS）繼續主導著財富分配，這是以前的周期中觀察到的趨勢。

At this stage of a bull market cycle, one would typically expect to see more profit-taking among LTHs, defined as those who have held onto their Bitcoin for over 155 days. However, a unique dynamic is unfolding. Despite realizing massive profits, LTHs are not selling in significant quantities. Instead, they are continuing to accumulate more coins throughout the later stages of the cycle.

在牛市週期的這個階段，人們通常會期望在LTH中看到更多的利潤，這被定義為那些在比特幣上持續了155天以上的人。但是，獨特的動態正在展開。儘管意識到了巨額利潤，但LTH並未大量銷售。取而代之的是，他們在整個週期的後期階段繼續積聚更多的硬幣。

The chart above showcases the increasing supply of Bitcoin held by LTHs, which ultimately leads to less selling pressure. This trend can be attributed, in part, to the entry of institutional investors and the growing influence of U.S. Bitcoin ETFs, which are designed for long-term holding strategies.

上圖展示了LTHS持有的比特幣供應量的增加，這最終導致銷售壓力較小。這種趨勢可以部分地歸因於機構投資者的進入以及美國比特幣ETF的日益增長的影響，這些趨勢是為長期持有策略而設計的。

Despite the rising supply held by LTHs, the realized profit/loss ratio stands at 9.4, which signals that the majority of coins are being spent at a substantial profit.

儘管LTHS持有的供應量增加，但已實現的利潤/損失比率為9.4，這表明大多數硬幣都以可觀的利潤來花費。

Historically, such a high ratio has coincided with market euphoria, which is usually followed by a local or cycle top. However, if demand remains strong, there is also a possibility that the rally could continue for months.

從歷史上看，如此高的比例與市場欣快感相吻合，這通常是本地或週期頂部。但是，如果需求仍然很強勁，也有可能持續數月的集會。

The recent report on the U.S. Consumer Price Index (CPI) for May showed that inflation rose 2.4% year-over-year, lower than the economists’ expectations of 2.5%. Core CPI, which excludes volatile items like food and energy, held steady at 2.8%.

最近關於美國消費者價格指數（CPI）的報告顯示，通貨膨脹率同比增長2.4％，低於經濟學家的預期2.5％。核心CPI不包括揮發性物品，例如食品和能源，保持穩定為2.8％。

This lower-than-expected inflation could encourage the Federal Reserve to adopt a more dovish stance. With inflation contained, the Fed may be less likely to raise interest rates and could even consider reducing them, which would appeal to risk assets like Bitcoin.

這種超過預期的通貨膨脹可以鼓勵美聯儲采取更艱難的立場。隨著通貨膨脹，美聯儲可能不太可能提高利率，甚至可以考慮降低利率，這將吸引像比特幣這樣的風險資產。

“Falling inflation and the possibility of a rate cut could push Bitcoin into the final leg of its rally,” said Nic Puckrin, founder of Coin Bureau, in a recent analysis. This scenario would involve increased investment in Bitcoin, potentially driving its price toward new all-time highs.

Coin Bureau的創始人Nic Puckrin在最近的分析中說：“通貨膨脹率下降和削減稅率可能會將比特幣推向其集會的最後一層。”這種情況將涉及增加對比特幣的投資，並有可能將其價格推向新的歷史高潮。

In addition to inflation data, another factor that could influence Bitcoin’s trajectory is the outcome of the U.S.-China trade talks. The progress of these discussions will be crucial for determining the fate of equities and, consequently, cryptocurrencies.

除通貨膨脹數據外，可能影響比特幣軌蹟的另一個因素是美中貿易談判的結果。這些討論的進展對於確定股票的命運以及因此，加密貨幣的命運至關重要。

According to Nansen Principal Research Analyst, Aurelie Barthere, "The narrative around U.S.-China relations is becoming increasingly important for risk assets in general, and that includes Bitcoin."

Nansen首席研究分析師Aurelie Barthere表示：“我們與中國關係的敘述對總體上的風險資產越來越重要，其中包括比特幣。”

Following President Trump’s announcement of a finalized tariff deal with China, we might see less uncertainty in the global market as the U.S.-China trade talks reach a critical juncture. The outcome of these talks, along with other diplomatic developments, could create a more stable economic environment.

在特朗普總統宣布與中國達成最終關稅協議之後，隨著美中貿易談判達到關鍵的關鍵，我們可能會發現全球市場的不確定性更少。這些談判的結果以及其他外交發展可能會創造更穩定的經濟環境。

This stability would be beneficial for cryptocurrencies, which are often viewed by investors as a hedge against geopolitical risks and inflationary concerns.

這種穩定性將對加密貨幣有益，這通常被投資者視為對沖地緣政治風險和通貨膨脹問題的對沖。

As the trade talks progress and yield further agreements, it could have a positive impact on Bitcoin’s price. If these talks continue to be successful, leading to increased confidence in the market, we might see a rally in Bitcoin and other risk assets.

隨著貿易談話的進展並產生進一步的協議，它可能會對比特幣的價格產生積極影響。如果這些談判繼續取得成功，從而提高了對市場的信心，我們可能會看到比特幣和其他風險資產的集會。

See More: Best Cryptocurrency Scanners

查看更多：最佳加密貨幣掃描儀

Benzinga Pro Tips: Get the latest crypto news and analysis with Benzinga Pro. Sign up today and stay ahead of the market!

Benzinga Pro提示：與Benzinga Pro獲取最新的加密新聞和分析。今天註冊並保持領先地位！