比特幣（BTC）價格恢復引發了本月市場情緒的轉變

加密貨幣市場本月正在經歷投資者情緒的重大轉變。比特幣的價格恢復激發了需求的連鎖反應。

The cryptocurrency market experienced a significant shift in investor sentiment this month, as Bitcoin’s price recovery sparked a ripple effect in demand, ranging from large investors to smaller ones.

加密貨幣市場本月的投資者情緒發生了重大變化，因為比特幣的價格回收產生了需求的連鎖反應，從大型投資者到較小的投資者。

Bitcoin has rebounded by 25% from its early April lows. On-chain data and updated forecasts from industry experts offer insights into the sustainability of this rally.

比特幣從4月初的低點反彈了25％。鏈上數據和行業專家的最新預測提供了有關該集會可持續性的見解。

Fear and Greed Index Shows Market Sentiment Shifting

恐懼和貪婪指數顯示市場情緒轉移

According to data from Alternative.me, the Fear and Greed Index surged from a low of 18 to a high of 72 in April. This is the highest level since February and marks a clear shift from fear to greed.

根據替代性的數據，恐懼和貪婪指數從4月的低點升至72。這是自2月以來的最高水平，標誌著從恐懼轉變為貪婪的明顯轉變。

However, CoinMarketCap’s version of the index shows a slightly different picture. It rose from 15 to 52 points, moving from extreme fear to a neutral state.

但是，CoinMarketCap的索引版本顯示出略有不同的圖片。它從15分提高到52分，從極端恐懼轉變為中立狀態。

Although the two indices differ, both confirm a notable shift in investor sentiment. Investors have moved past the fear that often triggers panic selling.

儘管這兩個指數有所不同，但兩者都證實了投資者情緒的顯著轉變。投資者已經擺脫了經常觸發恐慌銷售的擔心。

This neutral or greedy mindset lays the groundwork for further optimism. If it continues, the market may reach a state of extreme greed before any major correction occurs.

這種中立或貪婪的心態為進一步的樂觀奠定了基礎。如果繼續進行，市場可能會在任何重大更正之前達到極端貪婪的狀態。

This sentiment shift has led to five divergence signals that support the potential continuation of the recovery for both Bitcoin and altcoins.

這種情緒轉變導致了五個不同的信號，這些信號支持比特幣和山寨幣的恢復潛力。

Bitcoin Accumulation Spreads From Large to Smaller Wallets, Positive Outlook

比特幣的積累從大錢包擴散到較小的錢包，前景積極

On-chain data shows that whale accumulation helped Bitcoin hold above $93,000 in the final week of April.

鏈上的數據表明，鯨魚的積累幫助比特幣在4月的最後一周持有超過93,000美元。

A chart from Glassnode highlights a clear transition from a distribution phase (marked in red) to an accumulation phase (marked in green) during April. This timing coincides with Bitcoin’s rebound from its monthly low.

玻璃節點的圖表突出顯示了四月期間從分佈階段（以紅色標記）到累積階段（以綠色標記）的清晰過渡。這個時機與比特幣從每月低點起的反彈相吻合。

Specifically, Bitcoin whales—wallets holding over 10,000 BTC—have been accumulating at nearly perfect levels. Their Trend Accumulation Score is around 0.9.

具體來說，比特幣鯨（持有超過10,000 BTC）的WALLES已在幾乎完美的水平上積累。他們的趨勢積累得分約為0.9。

Following the whales, wallets with 1,000 to 10,000 BTC gradually increased their accumulation score in the second half of April. Their score reached 0.7, as seen by the chart’s color shift from yellow to blue. Other wallet tiers also show signs of accumulation, reflecting changing sentiment among smaller whales.

捕鯨之後，1,000至10,000 BTC的錢包在4月下半年逐漸提高了其積累得分。他們的分數達到了0.7，如圖表從黃色到藍色的顏色轉移所見。其他錢包層也顯示出積累的跡象，反映了較小的鯨魚之間的情緒變化。

“So far, large players have been buying into this rally,” Glassnode explained.

“到目前為止，大型球員一直在購買這一集會，” GlassNode解釋說。

Moreover, a recent report by BeInCrypto highlights that Bitcoin ETFs experienced $2.68 billion in inflows last week. These ETFs have seen five consecutive days of positive inflows. These metrics attest to the returning demand and lay the foundation for continued price gains.

此外，Beincrypto最近的一份報告強調，比特幣ETF上周經歷了26.8億美元的流入。這些ETF已經連續五天出現了陽性流入。這些指標證明了返回需求，並為持續價格上漲奠定了基礎。

Fidelity and ARK Invest Update Bitcoin Price Forecasts

富達和方舟投資更新比特幣價格預測

Fidelity Digital Assets, a branch of the $5.8 trillion asset management giant Fidelity Investments, reports that Bitcoin supply on exchanges has dropped to its lowest level since 2018, with only about 2.6 million BTC remaining.

Fidelity Digital Assets是5.8萬億美元資產管理巨頭富達投資的分支機構，報導說，自2018年以來，交易所的比特幣供應已下降到其最低水平，剩下約260萬BTC。

Furthermore, Fidelity stated that more than 425,000 BTC have left exchanges since November 2024. Public companies have added nearly 350,000 BTC since the US election and are buying over 30,000 BTC monthly in 2025. Fidelity expects this trend to continue.

此外，富達說，自2024年11月以來，超過425,000個BTC就離開了交流。自美國大選以來，上市公司已增加了近35萬BTC，並且在2025年每月購買30,000多個BTC。 Fidelity預計這一趨勢將繼續。

“We have seen Bitcoin supply on exchanges dropping due to public company purchases—something we anticipate accelerating in the near future,” said Fidelity Digital Assets.

菲德爾數字資產說：“由於上市公司的購買，我們已經看到交易所下降的比特幣供應 - 我們預計在不久的將來會加速。”

Meanwhile, ARK Invest has updated its Bitcoin price projection in the Big Ideas 2025 report. Under its most bullish scenario, Bitcoin could reach $2.4 million by 2030—a far cry from its previous forecast of $1.5 million.

同時，ARK Invest在2025年的Big Ideas Report中更新了其比特幣價格預測。在最看漲的情況下，比特幣到2030年可能達到240萬美元，這與先前的150萬美元的預測相去甚遠。

This projection relies on several factors: increasing institutional investment, the possibility of nations treating Bitcoin as a strategic reserve asset, and its growing role in decentralized finance.

這一預測依賴於幾個因素：增加機構投資，國家將比特幣視為戰略儲備資產的可能性以及其在分散財務中的作用日益增長。

While fund managers like Fidelity and ARK Invest have a positive outlook for April, some retail investors are beginning to express caution. The idea of “sell in May” is starting to surface, reflecting concern amid unpredictable macroeconomic factors, such as tariffs and interest rate shifts, that could strongly impact the market in the near future.

儘管Fidelity和Ark Invest等基金經理對四月有積極的看法，但一些散戶投資者開始謹慎行事。 “五月份銷售”的想法開始浮出水面，這反映了不可預測的宏觀經濟因素（例如關稅和利率變化）的關注，這可能會在不久的將來對市場強烈影響。