比特幣的價格被困在一個範圍內，需要新的需求才能自由。通貨膨脹數據和謹慎的交易者是關鍵因素。

Bitcoin Price Check: Fresh Demand Needed to Break the Range

比特幣價格檢查：打破範圍需要新的需求

Bitcoin's been doing the limbo under the $110,000 bar, needing a fresh surge of demand to bust out. Rising inflation and a cautious market mood are keeping a lid on things.

比特幣一直在110,000美元的酒吧下進行障礙，需要新的需求才能淘汰。通貨膨脹率上升和謹慎的市場情緒正在使事情蓋好。

Bitcoin's Price Range: Stuck in Neutral?

比特幣的價格範圍：卡在中立？

Bitcoin (BTC) has been consolidating lately, caught in a descending channel. The big question is, where's the momentum? On-chain activity is looking a little sleepy, hinting that the market is taking a breather after recent gains. According to Glassnode, the market seems to be waiting for a renewed surge in demand to fuel the next leg higher.

比特幣（BTC）最近一直在鞏固，陷入了下降渠道。最大的問題是，勢頭在哪裡？鏈上的活動看起來有些困倦，暗示在最近的增長後，市場正在喘口氣。根據GlassNode的說法，市場似乎正在等待新的需求激增，以增強下一條腿。

Inflation Headwinds: Fed's Next Move

通貨膨脹逆風：美聯儲的下一步行動

Don't expect any favors from the Federal Reserve anytime soon. With core inflation ticking up to 2.7%, the Fed's likely to keep interest rates on pause. This puts pressure on risk assets like Bitcoin. All eyes on the inflation data; the stickier it gets, the tougher it'll be for Bitcoin to break out.

不要指望美聯儲很快得到任何好處。隨著核心通貨膨脹率高達2.7％，美聯儲可能會在停頓時保持利率。這給像比特幣這樣的風險資產帶來了壓力。所有人都關注通貨膨脹數據；它變得越粘，比特幣爆發越難。

Trader Sentiment: Cautious Optimism?

交易者情緒：謹慎的樂觀情緒？

Traders are playing it cool. Spot volumes are low, suggesting a lack of speculative urgency. While institutional investors are still accumulating BTC, the overall appetite for long exposure has faded. Everyone's watching that $109k mark. A consistent close above that level on the weekly timeframe is needed to regain serious bullish momentum.

交易者在玩酷。斑點量很低，表明缺乏投機性緊迫性。儘管機構投資者仍在積累BTC，但長期暴露的總體胃口已經消失。每個人都在看著$ 109K的成績。需要在每週的時間範圍內穩定地超過該水平，以恢復嚴肅的看漲勢頭。

Key Price Levels to Watch

關鍵的價格水平要觀看

Technically speaking, keep an eye on the $103,400–$104,600 range. This area aligns with a daily fair value gap (FVG) and is supported by the 200-day exponential moving average (EMA), raising the potential for a bounce. If Bitcoin can collect internal liquidity within this range, a bullish breakout above the descending channel to new highs remains a plausible scenario.

從技術上講，請密切關注$ 103,400– $ 104,600的範圍。該區域與每日公允價值差距（FVG）保持一致，並得到200天的指數移動平均線（EMA）的支持，從而增加了反彈的潛力。如果比特幣可以在此範圍內收集內部流動性，那麼前往新高高的下降渠道上的看漲突破仍然是一個合理的情況。

My Two Satoshis

我的兩個satoshis

While some analysts point to a potential head and shoulders pattern forming, suggesting a possible retest of $92k before any move towards $120k, I think it's premature to call a major bearish trend. The continued institutional accumulation provides a solid foundation. However, the market needs a catalyst—either a significant improvement in the macroeconomic outlook or a surge in fresh demand—to break out of this consolidation phase.

雖然一些分析師指出了潛在的頭和肩膀模式的形成，這表明在朝$ 120K的任何轉會之前，可能會重新測試$ 92K，但我認為稱為主要看跌趨勢還為時過早。持續的機構積累為堅實的基礎提供了堅實的基礎。但是，市場需要一個催化劑 - 宏觀經濟前景或新鮮需求的激增都可以脫離這個整合階段。

The Bottom Line

底線

Bitcoin's at a crossroads. It needs a spark to ignite the next rally. Whether that spark comes from renewed demand or a shift in the broader economic landscape remains to be seen. Until then, buckle up for more sideways action. Who knows, maybe Bitcoin's just enjoying a well-deserved siesta before its next moon mission!

比特幣在十字路口。它需要火花才能點燃下一個集會。這種火花是否來自新的需求或更廣泛的經濟格局的轉變，還有待觀察。在此之前，扣緊側向動作。誰知道，也許比特幣只是在下一個月亮任務之前享受當之無愧的午睡！