當比特幣保持穩定時，很少有利潤 - $ 140k是下一個叫醒電話嗎？

根據市場評論員Alphractal的新分析，儘管比特幣表現出色和最近的歷史最高水平，但投資者並未獲得利潤。

Bitcoin (BTC) price has recently hit a 10-month high, exceeding $109,400, yet despite this performance and the recent all-time highs, investors aren't in a hurry to take profits, according to market commentator Alphractal.

根據市場評論員Alphractal的說法，比特幣（BTC）的價格最近達到了10個月的高點，超過了109,400美元，但是儘管有這種表現和最近的歷史最高高價，但投資者並不急於獲利。

Both short-term and long-term holders have shown unusual conviction, holding through gains in a pattern that mirrors the behavior seen after July 2021—just before BTC topped out near $69,000.

短期和長期持有人都表現出了異常的信念，它以一種模式以反映了2021年7月以後的行為的模式，這只是在BTC的最高收入接近69,000美元之前。

“This suggests there is still no widespread euphoria in the market,” Alphractal noted.

Alphractal指出：“這表明市場上仍然沒有廣泛的欣快感。”

Rather than indicating exhaustion, this lack of profit-taking may point to a market still in its early enthusiasm phase, with many investors expecting significantly higher prices.

這種缺乏利潤，而不是表明疲憊，可能表明市場仍處於早期熱情階段，許多投資者期望價格明顯更高。

According to Alphractal, in order for global sentiment to fully ignite, Bitcoin may need to push well above $110,000, possibly even to $140,000.

根據Alphractal的說法，為了使全球情緒完全點燃，比特幣可能需要將其推高超過110,000美元，甚至可能需要提高到140,000美元。

The data shows that the largest waves of profit realization in this cycle occurred during March–April 2024 and again from December 2024 to January 2025. Outside those windows, selling pressure has remained limited, with most holders opting to ride the trend rather than cash out.

數據表明，該週期中最大的利潤浪潮發生髮生在2024年3月 - 2024年12月至2025年1月。在這些窗戶之外，銷售壓力仍然有限，大多數持有人都選擇乘坐趨勢而不是現金消失。

Market Still Asleep?

市場還在睡覺嗎？

This steady hand among investors implies that the market has yet to reach the typical “euphoria phase” that often signals a local or macro top. In fact, Alphractal suggests that the market has yet to fully “wake up” to the potential of the next phase, hinting at further upside.

投資者之間的穩定之手意味著市場尚未達到典型的“欣快感階段”，該階段通常標誌著本地或宏觀上衣。實際上，字形表明，市場尚未完全“喚醒”下一階段的潛力，這暗示了進一步的上升空間。

READ MORE: Bernstein Predicts $330 Billion Corporate Bitcoin Allocation in Next 5 Years

閱讀更多：伯恩斯坦預測未來5年的3,300億美元公司比特幣分配

If conviction continues to hold and institutional adoption deepens, Bitcoin could be poised for a second surge—not just in price, but in retail participation and mainstream sentiment.

如果信念繼續持有並加劇了機構的收養，那麼比特幣可能會得到第二次激增，而不僅僅是價格，而是零售參與和主流情緒。

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