比特幣的捲土重來：克服滯脹恐懼

5 月 6 日，比特幣 (BTC) 升至 65,000 美元以上，較近期兩個月低點上漲 15%。此次反彈受到 50 日均線的支撐，該均線充當支撐位。儘管有所復甦，但比特幣的融資利率仍保持中性，顯示市場情緒平衡。然而，一些分析師認為，如果 BTC 跌破當前水平，57,000 美元至 64,000 美元之間的關鍵支撐區間可能會發揮作用，從而提供潛在的買入機會。

Bitcoin's Resurgence: A Triumph Over Stagflation Fears

比特幣的復甦：克服滯脹恐懼

On May 6, Bitcoin (BTC) soared to an intraday high of $65,523, a 3.45% surge from its lows of $63,340. This impressive rally underscores the resilience of the cryptocurrency in the face of global economic uncertainty.

5 月 6 日，比特幣 (BTC) 飆升至 65,523 美元的盤中高點，較 63,340 美元的低點飆升 3.45%。這令人印象深刻的反彈凸顯了加密貨幣在全球經濟不確定性面前的彈性。

Despite concerns over the potential stagflation of the U.S. economy, Bitcoin has surged approximately 15% since reaching a two-month low of $56,500 on May 1. This recovery has sparked a bullish weekly candle, signaling a return to equilibrium in Bitcoin funding rates.

儘管人們擔心美國經濟可能出現滯脹，但自5 月1 日觸及兩個月低點56,500 美元以來，比特幣已飆升約15%。 。

"The dip beneath $60k spooked a number of traders before the price rebounded," noted DecenTrader, a market intelligence platform, in a May 6 report.

市場情報平台 DecenTrader 在 5 月 6 日的報告中指出，「在價格反彈之前，價格跌破 6 萬美元令許多交易商感到恐慌」。

Data from Coinglass corroborates DecenTrader's observations, indicating a shift in Bitcoin's funding rates from negative to neutral, a development that typically signals a reset in trader positions and a more balanced sentiment in the market.

Coinglass 的數據證實了 DecenTrader 的觀察，顯示比特幣的融資利率從負值轉變為中性，這一進展通常標誌著交易者頭寸的重置和市場情緒更加平衡。

However, should Bitcoin experience a downturn from its current levels, key support levels will come into play. These include the $57,000–$64,000 demand zone, supported by the 50-day exponential moving average (EMA), which remains a "prime buy zone" for BTC, according to independent trader Ali Martinez.

然而，如果比特幣從當前水平經歷下滑，關鍵支撐位將發揮作用。獨立交易員 Ali Martinez 表示，其中包括 57,000 美元至 64,000 美元的需求區域，該區域受到 50 天指數移動平均線 (EMA) 的支撐，該區域仍然是 BTC 的「主要買入區域」。

Martinez presented a chart from Glassnode, indicating that Bitcoin's recent drawdown pushed the market-value-to-realized-value (MVRV) ratio below its 90-day moving average. "When the MVRV dips beneath the 90-day average, it signals a buying opportunity," Martinez explained in an April 16 report. Despite BTC's recent ascent above $60,000, the Bitcoin MVRV momentum still satisfies this condition, suggesting that the asset remains undervalued.

Martinez 展示了 Glassnode 的圖表，表明比特幣最近的下跌將市值與實現價值 (MVRV) 比率推低至 90 天移動平均線以下。馬丁內斯在 4 月 16 日的一份報告中解釋說：“當 MVRV 跌破 90 天平均線時，這表明存在買入機會。”儘管 BTC 最近升至 60,000 美元以上，但比特幣 MVRV 勢頭仍然滿足這一條件，表明該資產仍然被低估。

"Regardless of # Bitcoin's latest surge from $57,000 to $64,000, the MVRV 90-Day Ratio signifies that $BTC stays in a primary purchase zone!" Martinez remarked.

“儘管 # 比特幣最近從 57,000 美元飆升至 64,000 美元，MVRV 90 天比率表明 BTC 仍處於主要購買區域！”馬丁內斯說。

Furthermore, Bitcoin whales, entities holding large amounts of BTC, have demonstrated a waning but still positive conviction in buying the dip. Despite recent accumulation by these whales, the pace of accumulation has slowed down, according to on-chain data provider IntoTheBlock.

此外，比特幣鯨魚（持有大量比特幣的實體）在逢低買入的信念正在減弱，但仍然積極。據鏈上數據提供商 IntoTheBlock 稱，儘管這些鯨魚最近有所積累，但積累的速度已經放緩。

"Prices have increased shortly following each accumulation," IntoTheBlock reported in a May 6 post. "However, note that each spike in accumulation by these holders is smaller than the last."

IntoTheBlock 在 5 月 6 日的一篇文章中報道稱，「每次增持後價格都會上漲」。 “但是，請注意，這些持有者的每次累積高峰都小於上一次。”

While this may indicate a diminishing appetite for buying the dip among large investors, it remains a positive sign as it signals continued bullish sentiment among this influential cohort.

雖然這可能表明大型投資者逢低買入的興趣減弱，但這仍然是一個積極的信號，因為它表明這個有影響力的群體持續看漲情緒。

This resurgence of Bitcoin serves as a testament to its intrinsic value and the growing recognition of its role as a store of value, hedge against inflation, and safe haven asset in turbulent economic times. As global markets grapple with uncertainty, it is likely that Bitcoin will continue to play a vital role in the investment landscape.

比特幣的復甦證明了其內在價值，也證明了人們越來越認識到其在動盪的經濟時期作為價值儲存、對沖通膨和避險資產的作用。隨著全球市場應對不確定性，比特幣很可能將繼續在投資領域發揮至關重要的作用。

Disclaimer: This article is not intended as financial advice or recommendations. Any investments or trading activities involve risk, and individuals should conduct thorough research before making any decisions based on the information provided.

免責聲明：本文無意作為財務建議或建議。任何投資或交易活動均涉及風險，個人應在根據所提供的資訊做出任何決定之前進行徹底的研究。