比特幣（BTC）價格從最近的高點回收，測試需求接近100,000美元

比特幣從最近的105,000美元的高點撤回後，比特幣的交易幅度高於100,000美元。雖然回顧看起來很健康，但市場情緒開始破裂。

Bitcoin (BTC) is testing demand at a key level as the market cools off following a strong multi-week rally that saw prices add over 40% since April 9th’s lows.

比特幣（BTC）正在關鍵水平測試需求，因為在多周的強大集會之後，市場降溫，自4月9日的低點以來，價格卻增加了40％以上。

Following a surge that saw BTC set new highs at $105K, the market is now consolidating as investors await signs of continuation or a deeper pullback. For now, the structure remains bullish but volatility is to be expected.

隨著BTC的激增，BTC將新高點定為10.5萬美元，隨著投資者在等待延續或更深層次回調的跡象時，市場正在鞏固。目前，結構仍然看漲，但可以預期波動。

Top analyst Axel Adler shared valuable on-chain insights via X, highlighting that Bitcoin is trading at around $100K while its realized price—an indicator of the average price at which all coins last moved—sits at approximately $45,000 and continues to rise.

頂級分析師阿克塞爾·阿德勒（Axel Adler）通過X分享了有價值的鏈洞見，這強調了比特幣的交易價格約為10萬美元，而其實現的價格（這是所有硬幣上次移動的平均價格的指標）的價格約為45,000美元，並繼續上漲。

This consistent upward movement in realized price suggests that the market is still in an accumulation phase and isn’t yet at an overheated point.

實現價格的這種一致的向上移動表明，市場仍處於累積階段，尚未處於過熱的位置。

According to CryptoQuant, daily Realized Profit (RP) yield ranges from 0.10% to 0.23%, translating to an impressive 36–85% annualized yield. The 30-day simple moving average of RP yield sits around 0.10%, or 35–40% annualized, indicating sustained profit-taking but not yet at overheated levels.

根據CryptoQuant的說法，每日實現的利潤（RP）收益率在0.10％至0.23％之間，轉化為36％至85％的年度收益率。 RP收益率的30天簡單移動平均值為0.10％，即年齡為35–40％，表明持續的利潤率，但尚未在過熱水平下。

Overall, these figures indicate a healthy market environment—profits are being realized, but not at levels that suggest excessive euphoria or speculative overheating.

總體而言，這些數字表明了一個健康的市場環境 - 正在實現生產組織，但並未達到表明過度欣快感或投機性過熱的水平。

Despite the bullish backdrop, opinions among analysts remain divided. Some anticipate a major breakout once BTC confirms support above $100K, setting up a continuation toward new highs.

儘管看漲了背景，但分析師之間的意見仍然分歧。一旦BTC確認支持超過$ 10萬美元，有些人預計將會發生重大突破，從而延續了新的高點。

However, other market participants believe that a correction is due to reset positioning and fatigue. They suggest that a deeper pullback below the psychological $100K mark, testing the strong $96K–$98K demand zone, might be unfolding.

但是，其他市場參與者認為，糾正是由於重置定位和疲勞。他們認為，在心理$ 10萬美元的心理下方的較深回調中，測試強勁的$ 96K- $ 98K需求區，可能正在展開。

Regardless of the short-term outlook, the current data signals that Bitcoin is remaining in a sustainable bull phase driven by organic demand and strengthening fundamentals. As long as BTC manages to hold above the $100K zone and realized metrics remain strong, the path toward new highs remains viable, even if short-term volatility persists.

無論短期前景如何，當前的數據信號表明比特幣仍處於可持續的牛相中，這是由有機需求和加強基本面驅動的。只要BTC設法超過$ 100K的區域並實現的指標仍然很強大，即使短期波動率仍然存在，通往新高高的道路仍然可行。