比特幣（BTC）努力保持地面，因為下行壓力持續存在，風險將更深的回調降至86,000美元

對比特幣的需求在2024年底在對特朗普選舉勝利的緩解監管逆風的樂觀態度中，現在正在撤退。

Bitcoin (BTC) price quickly recovered from Tuesday’s dip to $93,000, but downside pressure is still evident, risking a deeper pullback to $86,000, CryptoQuant analysts noted in the latest report. Waning demand, faltering blockchain activity and lack of liquidity inflows to crypto are among the factors that could drag BTC lower.

比特幣（BTC）的價格很快從周二的下跌到93,000美元，但下行壓力仍然很明顯，有可能更深入地回落至86,000美元。需求減弱，步履蹣跚的區塊鏈活動以及缺乏加密流動性流動性流動性可能會使BTC降低。

Demand for Bitcoin, which picked up in late 2024 amid optimism over easing regulatory headwinds on Trump's election win, is now retreating. CryptoQuant data shows that demand growth slumped to 70,000 BTC recently from the 279,000 BTC peak on December 4. Inflows to spot BTC exchange-traded funds (ETF), a typical occurrence during Bitcoin’s previous rallies, have disappeared, booking regular net outflows over the past two weeks after previously seeing as much as 18,000 BTC in daily purchases in November and December.

對比特幣的需求在2024年底在對特朗普選舉勝利的緩解監管逆風的樂觀態度中，現在正在撤退。加密數據顯示，最近從12月4日的279,000 BTC峰值開始，需求增長跌至70,000 BTC。在11月和12月的每日購買中，先前看到多達18,000 BTC的兩週後。

Moreover, CryptoQuant’s Inter-exchange Flow Pulse, which tracks BTC movement between exchanges, also signals weakness with BTC transfers to Coinbase — a gauge of U.S. spot demand — declining below its 90-day moving average.

此外，CryptoQuant的交換流脈衝跟踪交換之間的BTC運動，也標誌著BTC轉移到Coinbase的虛弱，這是美國現貨需求的量表 - 低於其90天移動平均線。

Stablecoin growth, a key fuel during crypto market rallies, also lost momentum. While the total stablecoin market cap recently rose to a new all-time high crossing $200 billion, the pace of the expansion has slowed significantly. The 60-day average change in USDT’s market capitalization, the largest stablecoin, plunged by over 90% since mid-December, dropping to $1.5 billion from over $20 billion. With stablecoins often used to buy crypto assets on exchanges, the slowdown indicates a lack of fresh capital entering the market.

加密市場集會期間的主要燃料Stablecoin增長也失去了動力。儘管Stablecoin的總上限最近上升到了新歷史上的新高2000億美元，但擴張的步伐顯著放緩。自12月中旬以來，最大的Stablecoin的60天平均市值變化跌至90％以上，從超過200億美元下降到15億美元。由於經常在交易所購買加密貨幣資產的穩定幣，放緩表明缺乏新的資本進入市場。

Muted blockchain activity on the Bitcoin network flashes further warning signs, CryptoQuant analysts added. Bitcoin’s network activity has slumped to its lowest level in a year, per CryptoQuant’s Bitcoin Network Activity Index. The metric is down 17% from its November 2024 peak and fell below its 365-day moving average for the first time since July 2021, when China banned BTC mining. Fewer transactions indicate declining investor engagement and waning speculative interest.

加密分析師補充說，比特幣網絡上的柔和區塊鏈活動會閃爍進一步的警告標誌。根據CryptoQuant的比特幣網絡活動指數，比特幣的網絡活動已在一年中跌至一年中的最低水平。該指標比2024年11月的峰值下降了17％，自2021年7月中國禁止BTC開採以來，該指標首次低於其365天移動平均線。較少的交易表明投資者的參與度下降和投機性興趣減弱。

BTC may bottom soon

BTC可能很快就會觸底

After hitting a new record of $109,000 in January fueled by optimism around Donald Trump becoming president, BTC has struggled to hold its ground and has been languishing in a narrow range above $90,000. Meanwhile, sentiment in the broader crypto market has been battered by highly controversial memecoin launches in the past weeks, with the likes of TRUMP memecoin and LIBRA burning speculative capital.

在唐納德·特朗普（Donald Trump）成為總統的樂觀情緒中，在一月份取得了109,000美元的新記錄後，BTC一直在努力保持自己的地面，並在狹窄的範圍內陷入了90,000美元以上的範圍。同時，在過去幾周中，較廣泛的加密貨幣市場的情緒受到了極大爭議的紀念品的襲擊，特朗普紀念物和天秤座燃燒的投機資本等人都受到了損害。

The sentiment reset is almost complete as Bitcoin entered the final stretch of its weekly cycle, well-followed trader Bob Loukas noted. BTC could find a bottom of the corrective phase in the near-future, but it could break below the $90,000 range-low in doing so, he added.

備受關注的交易員鮑勃·盧卡斯（Bob Loukas）指出，比特幣進入其每週週期的最後一段時間，情緒重置幾乎是完整的。他補充說，BTC可能會在近距離發現糾正階段的底部，但在這樣做的90,000美元範圍內可能會破裂。

"More a question of if the bottom of the range (90k) can hold or not," Loukas said in an X post. "Doesn't matter, sentiment resetting occurs either way."

Loukas在X帖子中說：“更多的問題是（90k）是否可以容納範圍的底部。” “沒關係，無論哪種方式，都會發生情感重置。”