長期持有人為比特幣看漲前景添加燃料

比特幣目前處於關鍵階段，可以定義未來幾個月市場的軌跡。

Bitcoin (BTC) is currently trading above the key psychological level of $100,000, but the bullish momentum that drove prices higher in recent weeks has cooled somewhat as the market fails to decisively reclaim resistance near $105,000.

比特幣（BTC）目前正在超過100,000美元的關鍵心理水平，但最近幾週推動價格上漲的看漲勢頭已經有些降溫，因為市場未能確定收回抵抗力接近105,000美元。

After a sharp rally that saw Bitcoin surge more than 40% from its April 9th low, price action is now consolidating and testing demand. While bulls remain in control, growing signs of uncertainty have led some analysts to warn of a potential breakdown if $100K fails to hold.

在急劇的集會使比特幣湧現超過4月9日的低點超過40％之後，價格行動現在正在鞏固和測試需求。儘管公牛仍處於控制之中，但越來越多的不確定性跡象導致一些分析師警告說，如果$ 10萬美元無法持有，則可能會出現潛在的崩潰。

Despite these short-term concerns, long-term fundamentals remain strong. Data from CryptoQuant reveals that since April 4, Long-Term Holders (LTH) have added 339,000 BTC to their holdings. The consistent accumulation by long-term investors adds weight to the bullish thesis, showing continued conviction in Bitcoin’s long-term value, even as short-term traders express hesitation.

儘管存在這些短期關注，但長期基本面仍然很強。 CryptoQuant的數據表明，自4月4日以來，長期持有人（LTH）在其持股中增加了339,000 BTC。長期投資者的一致積累增加了看漲論文的權重，即使短期交易者表現出猶豫，比特幣長期價值的堅定信念。

The coming days will be critical, as Bitcoin must either confirm $100K as solid support or risk a deeper pullback. All eyes are on whether demand will hold, and whether LTH accumulation can offset rising market fear.

接下來的日子將是至關重要的，因為比特幣必須確認$ 10萬美元作為可靠的支持，或者有更深的回調風險。所有人的目光都關注需求是否會持有，LTH積累是否可以抵消市場上不斷上升的恐懼。

Long-Term Holders Add Fuel To Bitcoin Bullish Outlook

長期持有人為比特幣看漲前景添加燃料

Bitcoin is currently in a pivotal phase that could define the trajectory of the market for the coming months.

比特幣目前處於關鍵階段，可以定義未來幾個月市場的軌跡。

Having clocked a 40% rally from its April 9th low, BTC has spent the last few days consolidating below the $105K resistance. This consolidation has sparked a mix of expectations—some traders anticipate a breakout into a new all-time high, while others believe the market could be setting up for an extended range.

BTC從4月9日的低點開始了40％的集會，在過去的幾天中，它鞏固了低於105,000美元的電阻。這種整合激發了人們的期望 - 一些交易者預計會突破新的歷史最高水平，而其他人則認為市場可能會擴大範圍。

Despite short-term volatility, the broader trend remains clearly bullish. Bitcoin has maintained a steady uptrend for over five weeks, calmly slicing through multiple resistance levels and attracting renewed investor attention as it climbs higher.

儘管短期波動性，但更廣泛的趨勢顯然仍然看好。比特幣在五個星期內保持了穩定的上升趨勢，在多個阻力水平上平靜地切片，並在攀升更高時引起了新的投資者的關注。

One of the most significant signals of confidence comes from the behavior of long-term holders. According to data shared by top analyst Axel Adler, since April 4, long-term holders (LTH) have been steadily accumulating, adding a total of 339,000 BTC to their wallets.

最重要的信號之一來自長期持有人的行為。根據頂級分析師阿克塞爾·阿德勒（Axel Adler）共享的數據，自4月4日以來，長期持有人（LTH）一直在穩步累積，在其錢包中總共增加了339,000 BTC。

This brings the total LTH supply to 14,370,338 BTC—a record figure that underscores the deep conviction these investors have in Bitcoin’s future value. In contrast to short-term traders, who might be displaying signs of fatigue after the recent rally, LTHs continue to pour money into the market.

這使LTH總供應總額達到14,370,338 BTC，這是一個記錄的數字，強調了這些投資者對比特幣未來價值的深刻信念。與短期交易者相反，短期交易者可能會在最近的集會後表現出疲勞的跡象，LTHS繼續向市場投入資金。

This wave of accumulation is a powerful bullish signal. Historically, periods of heavy LTH buying have preceded major rallies. If BTC can manage to hold current demand zones and manage to reclaim resistance, the market could be setting up for a final wave of expansion.

這浪的積累是一個強大的看漲信號。從歷史上看，大量購買的時期已經進行了重大集會。如果BTC能夠設法保持當前的需求區域並設法收回抵抗力，那麼市場可能會為最終的擴張浪潮設置。

However, if resistance holds and momentum weakens further, the market could remain trapped in a broader consolidation phase. For now, the pressure is on bulls to confirm strength, and LTH activity provides a beacon of optimism that they aren’t planning to back down yet.

但是，如果抵抗力保持和動量進一步削弱，那麼市場可能仍會陷入更廣泛的鞏固階段。就目前而言，要確認力量的壓力是在公牛身上的壓力，而LTH活動則提供了樂觀的燈塔，即他們不打算退縮。

BTC Structure Remains Bullish As Consolidation Continues

隨著鞏固的繼續，BTC結構仍然看漲

On the 4-hour chart, Bitcoin is continuing to consolidate above the $103,600 support level after failing to break cleanly above the $105,000 zone.

在4小時的圖表上，比特幣在未能乾淨地超過105,000美元的區域後，將繼續鞏固高於103,600美元的支持水平。

Price action remains tightly ranged between $103,600 and $104,800, with multiple failed attempts at pushing higher, suggesting the presence of heavy sell-side liquidity in that region. Despite this, the structure remains bullish.

價格行動的緊密範圍在103,600美元至104,800美元之間，有多次嘗試推動更高的嘗試，這表明該地區有大量的賣方流動性。儘管如此，結構仍然是看好的。

The 200-period EMA and SMA on this timeframe are both trending upward and significantly below the current price, providing a strong foundation for continued support. Volume has slightly decreased during consolidation, which is typical in a pause phase before a potential breakout or breakdown.

在此時間表上的200段EMA和SMA均呈上升趨勢，並顯著低於當前價格，為持續支持提供了強大的基礎。合併過程中的體積略有下降，在潛在的突破或分解之前，這是典型的暫停階段。

If BTC manages to hold above the $103,600 support, we might see bulls making another attempt at breakout, especially if volume picks up and macro conditions remain favorable. A confirmed move above $105,000 would likely trigger a surge toward the next key psychological target at $110,000.

如果BTC設法持有超過103,600美元的支持，我們可能會看到公牛隊再次嘗試突破，尤其是如果音量拾取並且宏觀條件仍然有利。確認的舉動超過$ 105,000可能會引發下一個關鍵心理目標的激增，為110,000美元。

On the downside, a loss of $103,600 opens the door for a deeper pullback toward $100,000—an area of strong psychological and structural demand. Additionally, any signs of LTH selling pressure would be a bearish development to watch out for.

不利的一面是，損失$ 103,600的損失為更深層次的回調打開了100,000美元，這是一個強勁的心理和結構需求的領域。此外，列出銷售壓力的任何跡像都是值得注意的看跌。