比特幣的價格高於至關重要的供應集群，約為$ 95,000。公牛可以保持動力，還是熊會抓住控制？分析關鍵水平和市場情緒。

Bitcoin Price: Navigating the $95K Supply Cluster and Bullish Thresholds

比特幣價格：瀏覽$ 95K的供應集群和看漲閾值

Bitcoin's price action is heating up! It's currently balancing on a knife's edge, with a significant supply cluster lurking around $95,000. Will it hold? Let's dive into the key levels and what they mean for the future.

比特幣的價格動作正在加熱！目前，它在刀的邊緣保持平衡，供應群的大量潛伏在95,000美元左右。會持有嗎？讓我們深入研究關鍵水平及其對未來的意義。

The $95K-$97K Supply Cluster: A Battleground

$ 95K- $ 97K的補給集群：戰場

Glassnode's heatmap highlights a dense supply cluster between $95,500 and $97,000. This isn't just some random number; it's the first major support zone below the short-term holder cost basis of $98,000. Think of it as a line in the sand. Holding above this range signals a continuation of the bullish trend. But a sustained dip below? That could unleash the bears.

GlassNode的Heatmap突出顯示了一個密集的供應集群在95,500美元至97,000美元之間。這不僅僅是隨機數。這是低於短期持有人成本基礎98,000美元的第一個主要支持區。將其視為沙子中的一條線。在此範圍上保持超過此範圍標誌著看漲趨勢的延續。但是下面持續下降？那可以釋放熊。

This area is seeing heavy on-chain volume, confirming its importance as a battleground for market sentiment. All eyes are on whether the bulls can defend this territory or if the bears will break through, potentially triggering a sell-off.

該地區看到了大量的鏈量，證實了它的重要性是市場情緒的戰場。所有人的目光都關注公牛是否可以捍衛這一領土，還是熊會突破，可能會引發拋售。

Institutional Inflows and Market Sentiment

機構流入和市場情緒

Adding fuel to the fire, institutional inflows have been a major tailwind, with nine straight gains in the ETF market. Large transactions (between $320k-$500k) are on the rise, and transactions over $100k make up nearly 90% of total network volume. Translation: the big players are making moves.

在火災中增加燃料，機構流入一直是主要的逆風，在ETF市場中有9個直率的收益。大型交易（32萬美元至50萬美元之間）正在上升，超過$ 10萬美元的交易占總網絡量的近90％。翻譯：大玩家正在採取行動。

Transaction activity, however, has dipped to 18-month lows *despite* the price uptrend. This suggests institutions and whales are holding tight, potentially squeezing the supply.

然而，儘管價格上漲趨勢，但交易活動仍然降至18個月的低點 *。這表明機構和鯨魚牢牢地擠壓了供應。

Bullish vs. Bearish Scenarios

看漲與看跌的情況

If Bitcoin can maintain its upward trajectory above $105,785, expect further gains, with resistance around $106,540. A strong push could even test $107,200. But watch out! Dropping below $105,785 shifts momentum downwards, with support around $105,140. Breaching that level invalidates the bullish narrative and could send the price tumbling to $104,500.

如果比特幣可以將其上升軌跡保持在105,785美元以上，預計會進一步增長，電阻約為106,540美元。強勁的推動甚至可以測試107,200美元。但是要當心！下跌低於$ 105,785的偏移勢頭，支撐大約105,140美元。違反該水平使看漲的敘述無效，並可能使價格跌至104,500美元。

State-Level Adoption: A Silent Tailwind

國家一級的採用：無聲的逆風

Don't forget the quiet support from state governments. Arizona's senate just passed a Bitcoin reserve bill, and Ohio lawmakers approved tax exemptions for small crypto payments. As of now, 17 US states are exploring cryptocurrency reserves, with 4 already making it law. It's a slow burn, but this underlying appetite from state and federal levels is definitely a bullish sign.

不要忘記州政府的安靜支持。亞利桑那州的參議院剛剛通過了一項比特幣儲備法案，俄亥俄州立法者批准了對小型加密貨幣付款的免稅。截至目前，美國17個州正在探索加密貨幣儲備，其中4個已經成為法律。這是一個緩慢的燃燒，但是從州和聯邦一級產生的潛在需求絕對是看漲的信號。

The Verdict? Proceed with Caution (and Maybe a Little Excitement)

判決？謹慎行事（也許有點興奮）

Bitcoin's price is at a pivotal moment. The $95K supply cluster is a crucial threshold that will likely determine the short-term direction. Watching the price action around these levels and keeping an eye on institutional inflows will be key. So buckle up, crypto enthusiasts! It's gonna be a wild ride!

比特幣的價格處於關鍵時刻。 $ 95K的電源集群是一個至關重要的閾值，可能會決定短期方向。觀看這些水平周圍的價格動作並關注機構流入將是關鍵。加油，加密愛好者！這將是一個瘋狂的旅程！