比特幣看到了急劇的回調

在過去的幾天中，比特幣在過去幾天中看到了急劇的回調，在四天前將歷史最高的111900美元的新鮮高點設置為110000美元以下。

Bitcoin (BTC) saw a sharp pullback in the past few days, dropping below the $110,000 level after setting a fresh all-time high of $111,900 just four days ago. The correction saw the price fall as low as $107,500 before rebounding slightly, raising doubts among investors about the strength of the recent rally.

在過去的幾天中，比特幣（BTC）在過去的幾天中看到了急劇的回調，在四天前將新鮮的歷史最高點111,900美元設置為111,900美元之後，跌至110,000美元以下。更正的價格在略微反彈之前，價格低至107,500美元，這使投資者對最近的集會的實力產生了疑問。

However, some analysts argue that the bullish structure is still intact for Bitcoin, even with this retracement. Particularly, crypto analyst Colin pointed to an interesting macroeconomic indicator called the Global M2 Money Supply as a reason for continued optimism.

但是，一些分析人士認為，即使有此回溯，看漲的結構仍然是完整的。特別是，加密分析師Colin指出了一個有趣的宏觀經濟指標，稱為全球M2貨幣供應，是持續樂觀的原因。

Global M2 Money Supply Still Rising, Says Analyst

分析師說，全球M2貨幣供應仍在上升。

According to an analysis posted by crypto analyst Colin on X (formerly Twitter), Bitcoin continues to track the global M2 money supply with accuracy offset by an 82-day lag.

根據加密分析師科林（Colin）在X（以前為Twitter）上發布的分析，比特幣繼續以82天的滯後準確抵消了全球M2貨幣供應。

The chart highlights that the global M2 aggregate, which reflects the total liquidity circulating in the world’s largest economies, has recently hit a new all-time high.

該圖表凸顯了全球M2總計反映了全球最大經濟體中流動性的總流動性，最近已經達到了新的歷史最高水平。

Historically, Bitcoin has closely mirrored this trend with a slight delay, and Colin believes this pattern suggests there is still considerable room for the Bitcoin price to climb.

從歷史上看，比特幣以輕微的延遲密切反映了這一趨勢，科林認為這種模式表明，比特幣價格攀升仍然有很大的空間。

The correlation between the Global M2 money supply and Bitcoin’s price action is statistically significant across various time frames, with the highest correlation of 93% being observed in the 1½-year window. This strong correlation showcases that Bitcoin’s recent rally is a consequence of deeper monetary expansion trends.

在各個時間範圍內，全球M2貨幣供應與比特幣的價格行動之間的相關性在統計學上具有統計學意義，在1。5年的窗口中觀察到93％的相關性最高。這種強烈的相關性表明，比特幣最近的集會是貨幣擴張趨勢更深的結果。

Keeping this in mind, the interpretation is that Bitcoin is undergoing a healthy retracement within a broader upward trend, especially when considering the broader context of the global money supply. The pullback to $107,500 doesn’t invalidate the bullish setup, and Bitcoin’s ability to hold above the previous consolidation level between $102,000 and $104,000 is also a positive note.

牢記這一點，解釋是比特幣正在更廣泛的上升趨勢中進行健康的回溯，尤其是在考慮全球貨幣供應的更廣泛背景時。回調至107,500美元並沒有使看漲的設置無效，並且比特幣能夠超過以前的合併水平在102,000美元至104,000美元之間的能力也是一個積極的說明。

Social Sentiment Still Skeptical, But Data Speaks Louder

社交情緒仍然持懷疑態度，但數據更大

Despite the new $111,900 all-time high and Bitcoin bulls successfully holding its breakout level as support, social sentiment is still somewhat conflicted.

儘管有新的$ 111,900歷史最高水平和比特幣公牛成功地保持了其突破水平，但社交情緒仍然有些矛盾。

This was also noted by Colin, who pointed out the irony of many market participants doubting the sustainability of the breakout despite the strength of the underlying data.

科林還指出，這也指出了許多市場參與者的諷刺意味，儘管基礎數據的實力，但仍懷疑突破的可持續性。

Colin also referenced the CBBI (Crypto Bull Run Index), which currently reads 79, still comfortably below the overheated threshold. This indicates that, by normal standards, the market is far from its euphoric peak, and there’s still a good amount of upside left in the cycle.

科林還提到了CBBI（Crypto Bull Run Index），該指數目前為79，仍然低於過熱閾值。這表明，按照正常的標準，市場遠非其欣快的山峰，並且在周期中還有很多上升空間。

The chart provided by Colin highlights a projected upward trajectory that would see Bitcoin breaking above current levels toward $130,000 and beyond if the M2 correlation continues to play out.

Colin提供的圖表突出顯示了一個預測的向上軌跡，如果M2相關性繼續發揮作用，則將比特幣突破當前水平及130,000美元及以上。

Interestingly, Colin’s analysis of the Global M2 supply and its relation to Bitcoin has been spot on in predicting Bitcoin’s rally. In April, when Bitcoin dropped to as low as $74,000, he projected that May would mark the next major breakout period for Bitcoin’s price, and this forecast has materialized exactly as he anticipated.

有趣的是，Colin對全球M2供應的分析及其與比特幣的關係在預測比特幣集會方面已經存在。 4月，當比特幣下降到74,000美元時，他預計可能標誌著比特幣價格的下一個重大突破期，這一預測已按照他預期的方式實現。

At the time of writing, BTC is trading at $109,670, up by 2% in the past 24 hours.

在撰寫本文時，BTC的交易價格為109,670美元，在過去24小時內增長了2％。