新數據表明，比特幣（BTC）價格可能會延長其集會。

儘管比特幣（BTC）在過去一個月中飆升了20％以上 - 部分是由於圍繞美國 - 中國關稅戰爭的全球緊張局勢 - 有些

Although Bitcoin (BTC) has surged more than 20% over the past month – partly due to easing global tensions surrounding a potential US-China tariff war – some investors are beginning to question whether the bulk of the upside is already priced in. However, fresh data suggests that the rally may be far from finished.Bitcoin Bulls Still In ControlAccording to a recent CryptoQuant Quicktake post by cryptocurrency investor Crypto Dan, Bitcoin remains firmly in an uptrend despite the notable price increase over the last month. The analyst credited the “realized price” as a critical indicator for assessing the market’s direction.Crypto Dan shared the following chart comparing BTC’s market price to its realized price – a metric that represents the average price at which all coins in circulation were last transacted. Historically, whenever the realized price begins to decline, Bitcoin often sees a sharp correction – shown by the red arrows on the chart.However, the current scenario looks notably different. As highlighted in the yellow circle on the chart, the realized price continues to rise alongside BTC’s market price. This upward trend suggests that the broader cryptocurrency market is still in bullish territory.Crypto Dan explained that one of the reasons behind the price surge is the increasing number of market participants who are willing to buy BTC at a higher price. The analyst added:In particular, institutions like Strategy and others are purchasing large amounts of bitcoin through vehicles like spot exchange traded-funds (ETFs), causing an influx of capital that continues to drive the realized price higher.Indeed, institutional adoption of BTC has grown significantly in recent years. On-chain data shows that whales – wallets holding substantial BTC amounts – have ramped up their holdings in response to growing institutional demand.Adding to this momentum is a resurgence in spot bitcoin exchange-traded funds (ETFs) inflows. For the week ending May 9, these ETFs saw total net inflows of $334.58 million.Technical Indicators Favor Extended RallyIn addition to the bullish realized price trend, several other metrics suggest BTC may be on track to test or even surpass its previous all-time high (ATH). For example, the Binance Taker Buy-Sell Ratio remains elevated, signaling strong buying pressure.Moreover, Bitcoin’s funding rate on Binance has stayed positive throughout the recent uptrend – an indication that traders remain confident in further price appreciation. That said, investors should be cautious of overly aggressive long positions, as overheated funding rates can lead to abrupt corrections.Similarly, renowned crypto analyst Mr. Wall Street recently projected that BTC could climb as high as $200,000 before the

儘管過去一個月比特幣（BTC）飆升了20％以上 - 部分是由於緩解了圍繞美國 - 中國關稅戰爭的全球緊張局勢 - 一些投資者開始質疑大部分上升的問題是否已經質量。但是，新的數據是否已經歸屬。儘管比特幣在上個月的價格顯著上漲，但比特幣仍處於上升趨勢。分析師將“實現價格”視為評估市場方向的關鍵指標。 CryptoDan分享了以下圖表，將BTC的市場價格與已實現的價格進行了比較 - 這是一個指標，代表了所有流通中最後交易的平均價格。從歷史上看，每當實現的價格開始下降時，比特幣經常看到急劇的校正 - 圖表上的紅色箭頭顯示。正如圖表上的黃色圓圈所強調的那樣，實現的價格繼續隨BTC的市場價格上漲。這種向上的趨勢表明，更廣泛的加密貨幣市場仍在看漲的領域。 CryptoDan解釋說，價格上漲的原因之一是願意以更高價格購買BTC的市場參與者數量越來越多。分析師補充說：尤其是，諸如戰略和其他機構之類的機構正在通過現場交易所交易基金（ETF）等車輛購買大量比特幣，導致資本湧入，而近年來，BTC的機構採用率不斷提高。鏈上的數據表明，捕鯨的錢包（持有大量BTC數量的錢包）已響應不斷增長的機構需求而增加了其持有量。對這種勢頭的興起是現貨比特幣交換基金（ETFS）流入的勢頭。在5月9日截至一周的一周中，這些ETF的總淨流入總額為3.3458億美元。技術指標有利於延長的拉利林（Rallyin）對看漲的價格趨勢，其他幾個指標表明BTC可能正在測試甚至超過其以前的歷史高（ATH）。例如，Binance Taker買賣比率保持升高，這表明了強烈的購買壓力。此外，比特幣對binance的融資率在最近的上升趨勢中一直保持積極態度 - 這表明交易者對進一步的價格升值仍然有信心。也就是說，投資者應該對過分積極進取的長期職位謹慎，因為過熱的資金率可能會導致突然的糾正。