這種比特幣公牛的跑步感覺與眾不同：這就是為什麼

比特幣最近的價格動作講述了一個韌性的故事，並謹慎地講述了。在短暫越過了備受期待的100,000美元大關之後，它退縮了

Bitcoin's recent price action has been a tale of resilience and caution. After briefly crossing the much-anticipated $100,000 mark, BTC pulled back, reflecting its struggle to maintain its footing. However, a deeper look into the price movements reveals a story that's vastly different from previous bull cycles.

比特幣最近的價格行動是一個韌性和謹慎的故事。在短暫地越過了備受期待的100,000美元大關之後，BTC退後了，反映了其保持立足點的努力。但是，更深入地看待價格變動的故事揭示了一個與以前的牛週期有很大不同的故事。

According to Glassnode, a prominent data provider, this bull run is unfolding in a unique way. Unlike past cycles, where Bitcoin's price soared rapidly after hitting new all-time highs, fueled by explosive demand and extreme volatility, this time around, the Realized HODL (RHODL) ratio suggests a distinct pattern.

根據著名數據提供商GlassNode的說法，這種牛的運行方式是獨特的。與過去的周期不同，在爆炸性需求和極端波動的推動下，比特幣的價格迅速飆升，這一次，實現的HODL（Rhodl）比率表明了一種獨特的模式。

New demand is entering the market in bursts rather than in waves, and the wealth held in older coins is significantly lower. This indicates that while interest in Bitcoin remains strong, it's not as aggressive as it was during previous bull markets.

新的需求正在以爆發而不是在海浪中進入市場，而在較舊硬幣中持有的財富大大降低。這表明，儘管對比特幣的興趣仍然很強，但它並不像以前的牛市那樣具有侵略性。

Another striking difference is the lower volatility in Bitcoin's price. In previous bull markets, BTC's price swings soared to over 80% to 100%. But this cycle, the volatility has been relatively mild, staying below 50%.

另一個顯著的區別是比特幣價格的波動性較低。在以前的牛市，BTC的價格波動飆升至80％至100％。但是這個週期，波動率相對溫和，保持低於50％。

This shift in volatility is making Bitcoin's price movements more like those of traditional assets, with structured price changes rather than the dramatic surges and crashes seen in the past.

波動率的這種轉變使比特幣的價格變動更像是傳統資產的變化，而結構化的價格變化，而不是過去看到的急劇衝浪和崩潰。

If we track the trend in 2024, Bitcoin touched its first ATH in March nearly 2 months after ETFs approval and one month prior to halving. The bullish scene is already set as Utah became the first U.S. state to pass a bill allowing public funds to be invested in crypto, and soon other states will follow suit.

如果我們在2024年追踪趨勢，則比特幣在ETF批准後的3月和一個月後觸及了其第一個ATH。隨著猶他州成為第一個通過法案，允許將公共資金投資於加密貨幣的州的美國州，就已經設定了看漲的舞台，不久其他州將效仿。

Adding to this, investors like Robert Kiyosaki buying bitcoin despite the downturn show how safe it is to invest in Bitcoin rather than traditional assets. This shows good times are nearing for Bitcoin if it manages to stay strong in the changing global scene

除此之外，儘管低迷的投資表明，投資比特幣而不是傳統資產是多麼安全，但像羅伯特·基亞薩基（Robert Kiyosaki）這樣的投資者購買了比特幣。這表明如果比特幣設法在不斷變化的全球場景中保持強大，那麼美好的時光即將接近

Now, let's take a closer look at the technical side of things. As we mentioned, BTC is currently facing a crucial test at key support levels. If it manages to stay above $95,869, we could see a bounce back and a retest of the $100,000 milestone.

現在，讓我們仔細看看事情的技術方面。正如我們提到的，BTC目前正面臨關鍵支持水平的關鍵測試。如果它設法停留在95,869美元以上，我們可以看到反彈和重新測試100,000美元的里程碑。

If BTC breaks through this psychological barrier, it might just trigger a new wave of buying, pushing the price even higher. But if it falls below $95,869, there's a risk of further drop to around $93,625, which could lead to panic selling as investors rush to cut their losses.

如果BTC突破了這一心理障礙，它可能只是引發新的購買浪潮，從而提高了價格。但是，如果它低於95,869美元，則可能會進一步下降到93,625美元左右，這可能會導致恐慌出售，因為投資者急於減少損失。

Overall, Bitcoin's journey this cycle isn't about explosive gains overnight. It's a slower, steadier climb, with both opportunities and risks along the way.

總體而言，比特幣的這一周期的旅程與一夜之間的爆炸性增長無關。這是一個較慢，穩定的攀登，一路上有機會和風險。