比特幣（BTC）面對銷售壓力，斑點數量增長3億美元在3天內下降了3億美元

在美國國內生產總值（GDP）數據顯示，比特幣（BTC）的價格在4月30日下跌低於93,000美元。

The U.S. Gross Domestic Product (GDP) contracted by 0.3% in Q1, according to the "Preliminary" reading from the Bureau of Economic Analysis (BEA). The reading came in lower than the +0.3% that economists had anticipated, signaling a slowdown in the world's largest economy.

根據經濟分析局（BEA）的“初步”閱讀，美國國內生產總值（GDP）在第1季度收縮了0.3％。閱讀量低於經濟學家預期的 +0.3％，這表明世界上最大的經濟體的放緩。

The GDP Price Index (PCE) also known as inflation, came in at 3.7%, the highest since August 2023. Economists were expecting a reading of 2.3%, a slight increase from Q4 2024’s level of 2.2%.

GDP價格指數（PCE）也稱為通貨膨脹，為3.7％，是2023年8月以來最高的。經濟學家預計讀數為2.3％，比第4季度2024年第四季度的2.2％略有增加。

After the bleak GDP report, Polymarket odds of a recession in 2025 rose to 67%. Moreover, the University of Michigan’s gauge of consumer confidence dropped to 50 in April, reaching its lowest point since May 2020.

在荒涼的GDP報告後，2025年經濟衰退的多個賠率上升到67％。此外，密歇根大學的消費者信心量表在4月下降到50，達到了2020年5月以來的最低點。

The report also showed that PCE inflation, a preferred measure used by the Federal Reserve, came in at 2.3% in March. Economists had been expecting a reading of 2.2%, and it follows a reading of 2.5% in February.

該報告還表明，美聯儲使用的首選措施PCE通貨膨脹在3月份為2.3％。經濟學家一直期望閱讀2.2％，並且在2月份的閱讀量為2.5％。

Core PCE, which excludes volatile food and energy prices, dropped to 2.6% in March. Economists had anticipated this reading. However, February’s Core PCE was revised from 2.8% to 3.0%.

不包括波動性食品和能源價格的核心PCE在3月下降到2.6％。經濟學家預料到了這篇閱讀。但是，2月的核心PCE從2.8％修訂至3.0％。

Is short-term bearish, long-term bullish for Bitcoin?

短期看跌，長期看漲比特幣嗎？

During the 2020 COVID-19-induced market crash, BTC initially followed traditional markets before rallying over 300% by year-end as the global M2 money supply increased, reflecting its appeal during periods of monetary expansion.

在2020年Covid-19引起的市場崩潰期間，BTC最初跟隨傳統市場，隨著全球M2貨幣供應的增加，年終將超過300％集結，這反映了其在貨幣擴張期間的吸引力。

However, stagflation, highlighted by the -0.3% GDP contraction in Q1 2025 and a 3.7% GDP Price Index, poses short-term risks for BTC. High inflation usually deters retail crypto investment, as seen in 2022 when BTC fell 60% amid Federal Reserve interest rate hikes.

然而，陷阱由Q1 2025的-0.3％GDP收縮和3.7％GDP價格指數強調，對BTC構成了短期風險。高通貨膨脹通常會阻止零售加密投資，如2022年，當時BTC在美聯儲的利率上升時下跌60％。

March 2025 PCE inflation data suggests cooling price pressures, which could reduce urgency in Fed rate hikes and support Bitcoin. But February’s upward revisions (headline PCE from 2.5% to 2.7%, Core PCE to 3.0%) keep the outlook mixed.

2025年3月，PCE通貨膨脹數據表明，冷卻價格壓力可能會減少美聯儲加息和支持比特幣的緊迫性。但是2月的上升修訂（頭條新聞從2.5％到2.7％，核心PCE至3.0％）使外觀混合在一起。

Bitcoin faces $300 million in spot selling pressure

比特幣面臨3億美元的現貨銷售壓力

Bitcoin’s spot volume delta dipped over $300 million over the past three days on April 26-29, signaling potential sell-off pressure for BTC around the $95,000 level.

比特幣的現貨數量達美（Delta）在4月26日至29日的過去三天中下降了超過3億美元，這標誌著BTC的潛在拋售壓力約為95,000美元。

According to Glassnode's latest data, the 7-day moving average of BTC spot volume delta recorded negative flows over consecutive days. The negative inflows started to become more apparent.

根據GlassNode的最新數據，BTC斑點數量增量的7天移動平均線在連續幾天內記錄了負流量。負面流入變得更加明顯。

The crypto analytics firm noted that the lower time frame analysis shows a steeper decline in 1-day volume delta, which measures the differential between buy and sell volume. From April 25 to 26, the 1-day volume delta dropped from $61.5 million in positive territory to $15.3 million in the red.

這家加密分析公司指出，較低的時間範圍分析顯示，為期1天的數量增長了1天，這衡量了買賣量之間的差異。從4月25日到26日，為期1天的數量達美航空從積極領土的6150萬美元下降到紅色的1530萬美元。

The 3-day volume delta also shifted from $69.6 million on April 24 to $36.7 million on April 25, before sliding further into negative territory.

為期3天的數量達美航空也從4月24日的6,960萬美元轉移到4月25日的3670萬美元，然後進一步滑入負地區。

Bitcoin sees $300 million in spot selling pressure

比特幣看到3億美元的現貨銷售壓力

Bitcoin’s spot volume delta dipped over $300 million over the past three days, signaling potential sell-off pressure for BTC around the $95,000 level.

在過去的三天中，比特幣的現貨數量達美（Delta）下跌了3億美元，這表明了BTC的潛在拋售壓力約為95,000美元。

According to Glassnode's latest data, the 7-day moving average of BTC spot volume delta recorded negative flows over consecutive days. The negative inflows started to become more apparent.

根據GlassNode的最新數據，BTC斑點數量增量的7天移動平均線在連續幾天內記錄了負流量。負面流入變得更加明顯。

The crypto analytics firm noted that the lower time frame analysis shows a steeper decline in 1-day volume delta, which measures the differential between buy and sell volume. From April 25 to 26, the 1-day volume delta dropped from $61.5 million in positive territory to $15.3 million in the red.

這家加密分析公司指出，較低的時間範圍分析顯示，為期1天的數量增長了1天，這衡量了買賣量之間的差異。從4月25日到26日，為期1天的數量達美航空從積極領土的6150萬美元下降到紅色的1530萬美元。

The 3-day volume delta also shifted from $69.6 million on April 24 to $36.7 million on April 25, before sliding further into negative territory.

為期3天的數量達美航空也從4月24日的6,960萬美元轉移到4月25日的3670萬美元，然後進一步滑入負地區。