比特幣（BTC）的價格上漲超過91,000美元，標誌

比特幣（BTC）的價格自一月以來一直處於持續的下降趨勢，但4月22日的增長超過91,000美元，這是其年度最高的高級突破

Bitcoin (BTC) price broke above a crucial resistance zone and posted its first higher high pattern of the year on April 22, hinting at the potential start of a new longer-term uptrend.

比特幣（BTC）的價格超過了關鍵的阻力區域，並於4月22日發布了其年度最高較高模式，這暗示了新的長期上升趨勢的潛在開始。

BTC broke above the previous lower high and resistance at $88,500 and went on to hit highs of $91,000, setting its sights on the 2025 highs above $93,000.

BTC超過了以前的下部高點，阻力為88,500美元，並繼續達到91,000美元的高點，將其目光投向了2025年的高點以上$ 93,000。

While the lack of buying pressure from lower cohorts and the strong selling pressure from ETFs at higher prices limited the upside potential, the US spot Bitcoin ETFs recorded total net inflows of $381 million on April 21—levels not seen since Jan. 30.

儘管缺乏從較低人群的購買壓力以及以較高價格的ETF的強大銷售壓力限制了上升潛力，但美國現貨比特幣ETF在4月21日記錄了3.81億美元的總淨流入量，自1月30日以來就沒有看到。

Rising spot BTC inflows, along with Bitcoin’s increase in price, point to a possible resurgence in institutional demand for Bitcoin, and the change in trend from the ETFs could offset the selling pressure that has put a cap on BTC price for months.

BTC的上升景點以及比特幣的價格上漲，表明對比特幣的機構需求可能會復興，而ETF的趨勢變化可能會抵消數月幾個月的BTC價格上漲的銷售壓力。

However, retail investor demand (buy volumes between $0 and 10,000) remained below 0%, which suggested that low volume buyers are not back yet. Over the past year, these investors have lagged behind BTC price breakouts, but they strengthen price momentum once the investor volume turns positive.

但是，散戶投資者的需求（購買量在$ 0到10,000之間）仍低於0％，這表明低容量買家還沒有回來。在過去的一年中，這些投資者落後於BTC的價格突破，但是一旦投資者的數量變為正面，它們就會增強價格勢頭。

CryptoQuant community manager Maartunn highlighted that the present rally is leverage-driven rather than spot volume-driven.

加密社區經理Maartunn強調，目前的集會是由槓桿驅動的，而不是以斑點量驅動的驅動。

“We're seeing a strong move in BTC price with significant buying pressure, mainly driven by derivatives traders. Considering the large sell-off pressure from ETFs at higher prices and the lack of buying pressure from lower cohorts, it's surprising that BTC managed to sustain this rally.”

“我們看到BTC價格的強勁動作，主要是由衍生品交易員驅動的很大的購買壓力。考慮到ETF的巨大售罄壓力以較高的價格銷售壓力，並且缺乏從較低人群的購買壓力，這令人驚訝的是，BTC設法維持了這一集會。”

According to Glassnode data, Bitcoin futures open interest (OI) increased by $2.4 billion in less than 36 hours.

根據玻璃節數據，比特幣期貨開放興趣（OI）在不到36小時內增加了24億美元。

For Bitcoin price to sustain a strong position above $90,000, the current discrepancy between futures traders and retail traders needs to decrease.

為了使比特幣價格保持在90,000美元以上的高昂地位，期貨交易者與零售交易者之間的差異需要下降。

Bitcoin could gain “70% to 80% from here”

比特幣可以從這裡獲得“ 70％至80％”

From a longer-term perspective, D'YOR crypto founder Hitesh Malviya said BTC could gain 70% to 80% if it manages to sustain a MVRV ratio of 2 for the next six weeks.

從長期的角度來看，D'Yor Crypto創始人Hitesh Malviya表示，如果在接下來的六週內，BTC設法維持2個MVRV比率，則BTC可以獲得70％至80％。

The Market Value to Realized Value (MVRV) ratio, a key onchain metric, compares Bitcoin’s market cap to its realized cap—the value of coins at their last transaction price.

關鍵的OnChain度量標準的實現價值（MVRV）的市場價值將比特幣的市值與已實現的上限進行了比較 - 硬幣以其上一次交易價格的價值。

Historically, an MVRV above 3.7 often signals overvaluation and market tops, while values near 2 have preceded strong price rallies.

從歷史上看，高於3.7的MVRV通常會信號高估和市場頂部，而價值觀接近2的價值是在強勁的價格集會之前。

Bitcoin's MVRV score remained above 2 from October 2024 to February 2025, coinciding with its all-time high. Recently, the metric fell below 2 during the market correction, but it is now attempting to reclaim this key level.

從2024年10月至2025年2月，比特幣的MVRV得分保持在2以上，與其歷史最高的高度相吻合。最近，該指標在市場更正期間下跌低於2，但現在正試圖恢復這一關鍵水平。