“比特幣（BTC）的價格已達到每年的新高點接近$ 111k”

比特幣的[BTC]價格已達到每年的新高點，接近11.1萬美元，但持有少於1 BTC的小型投資者的地址急劇下降

Bitcoin [BTC] has now reached new yearly highs of around $111K. However, the number of small investor addresses holding less than 1 BTC has dropped sharply.

比特幣[BTC]現在已經達到了每年$ 11.1萬美元的新高點。但是，持有少於1 BTC的小型投資者的地址急劇下降。

It fell from 590,000 in 2021 to just 260,000 today. This lack of excitement among everyday investors is striking, especially as price action strengthens.

它從2021年的590,000下降到今天的260,000。日常投資者中缺乏興奮令人震驚，尤其是隨著價格行動的加強。

Large investors and long-term holders are driving this rally, not retail buyers. Of course, the breakout’s reach remains limited unless smaller traders return to the market.

大型投資者和長期持有人正在推動這次集會，而不是零售買家。當然，除非較小的貿易商返回市場，否則突破的影響力仍然有限。

Is Bitcoin’s breakout above $110K truly sustainable?Bitcoin has now fully cleared the high-congestion supply zone between $105K and $110K.

比特幣的突破是否超過$ 110K？現在，比特幣已經完全清除了高層供應區，在$ 105K到11萬美元之間。

At the time of writing, BTC is trading at $110,510. This marks a major technical breakout, pushing the price above a strong resistance level that previously triggered several pullbacks.

在撰寫本文時，BTC的交易價格為110,510美元。這標誌著重大的技術突破，將價格推高了強大的阻力水平，以前觸發了幾次回調。

However, the RSI on the daily chart has climbed above 77, indicating overbought conditions. Typically, such RSI readings often warrant a cool-down in price.

但是，每日圖表上的RSI攀升到77以上，表明條件過高。通常，這樣的RSI讀數通常值得降低價格。

But bullish trends can remain in this range during strong uptrends. Hence, the breakout may hold if demand remains strong, especially if profit-taking pressure stays minimal.

但是，在強大的上升趨勢期間，看漲的趨勢可以保持在這一範圍內。因此，如果需求仍然強勁，突破可能會成立，尤其是如果利潤壓力保持最小。

Has BTC cooled off enough as the NVT Golden Cross dips?The NVT Golden Cross dropped by 49.46%, resting at 0.79.

NVT金十字傾角是否有足夠的冷卻？ NVT Golden Cross下降了49.46％，休息為0.79。

This signals that Bitcoin’s price is no longer outpacing on-chain transaction value as aggressively as before. In previous cycles, such a drop in the NVT Golden Cross reduced the likelihood of encountering short-term price tops.

這表明比特幣的價格不再像以前那樣積極地超過鏈交易價值。在以前的周期中，NVT Golden Cross的這種下降降低了遇到短期價格上漲的可能性。

Therefore, this signals a lower risk of overheating and supports a healthier rally.

因此，這表明過熱的風險較低，並支持更健康的集會。

Meanwhile, Weighted Sentiment spiked to 5.15—a high level, reflecting crowd euphoria.

同時，加權情緒飆升至5.15，這是高水平的，反映了人群欣喜。

Historically, such a high level of sentiment often precedes periods of consolidation or reversals, especially if it’s not supported by retail traders.

從歷史上看，如此高的情感通常在整合或逆轉期之前，尤其是在零售商人不支持的情況下。

Without sufficient retail traction, these sentiment spikes tend to unwind. Traders should be prepared for short-term corrections if momentum slows down.

沒有足夠的零售牽引力，這些情緒尖峰往往會放鬆。如果動量減慢，則應為短期更正做準備。

Is BTC becoming overvalued as the NVT ratio skyrockets?The NVT ratio surged to 374.17, which indicates a growing disconnect between Bitcoin’s Market Cap and its Transaction Volume.

BTC是否被高估了NVT比率Skyocket？ NVT比率飆升至374.17，這表明比特幣的市值與交易量之間的脫節越來越大。

Generally, high NVT levels can sometimes suggest overvaluation, especially when not accompanied by a rise in network activity.

通常，高NVT水平有時會表明高估，尤其是在不伴隨網絡活動增加的情況下。

Therefore, this metric warrants caution. If transaction volume fails to pick up, the market might experience valuation-based pullbacks.

因此，該指標需要謹慎。如果交易量未能達到，市場可能會遇到基於估值的回調。

However, it’s worth noting that in bull markets, the NVT Ratio can remain elevated for extended periods. It’s more of a caution flag than a complete indicator to halt the rally.

但是，值得注意的是，在牛市中，NVT比率可以長期升高。它更多的是一個警告標誌，而不是完全指標來阻止拉力賽。

Are holders signaling long-term belief as short-term speculation drops off?Realized Cap HODL Waves (0–1 day) dropped to just 0.33, indicating that recent activity is not driven by short-term flippers. This metric shows minimal movement from new buyers.

持有人是否會發出長期信念，因為短期投機下降了？實現的帽hodl波（0-1天）降至僅0.33，這表明最近的活動不是由短期肢體驅動的。該度量表明，新買家的移動最少。

This statistic highlights the presence of long-term holders in the current market.

該統計數據強調了當前市場中長期持有人的存在。

Historically, low wave activity correlates with strong hands and supports sustained uptrends.

從歷史上看，低波活動與強大的手和支撐持續上升趨勢相關。

This suggests that the rally has a stable foundation, at least for now.

這表明至少目前，集會具有穩定的基礎。

Combined with the reduced NVT Golden Cross, the conviction of holders strengthens the bullish case despite other mixed signals.

加上減少的NVT金十字架，儘管其他混合信號也是持有人的定罪，也加強了看漲案件。

Bitcoin’s breakout and strong on-chain support present promising signs. However, the lack of retail participant

比特幣的突破和強大的鍊鍊支持表現出令人鼓舞的跡象。但是，缺乏零售參與者