比特币（BTC）从最近的更正后篮板后巩固了$ 84,000的水平

比特币从最近的更正反弹后，在整合阶段的交易阶段左右。

Bitcoin has been trading in a consolidation phase around the $84,000 level after encountering a recent correction.

在遇到最近的更正后，比特币一直在合并阶段的合并阶段交易。

According to the latest data, BTC is currently priced at $84,449, showing a slight decline of 0.7% over the past 24 hours. This sideways movement comes after weeks of price volatility driven by macroeconomic uncertainty.

根据最新数据，BTC目前的价格为84,449美元，在过去24小时内略有下降0.7％。在宏观经济不确定性驱动的几周价格波动之后，这种侧向运动发生。

While the leading cryptocurrency has recovered from previous corrections, it has struggled to break through current resistance levels. This suggests weak buying momentum and cautious sentiment among traders in the short term.

尽管领先的加密货币已经从以前的校正中恢复过来，但它一直在努力突破当前的电阻水平。这表明在短期内，交易者的购买势头和谨慎的情绪。

According to market data, Bitcoin recently jumped to $85,000 despite the S&P 500 index dropping 5.7% in April. This 14% rebound from Bitcoin’s trade-war induced crash to $74,400 has left many traders puzzled but cautiously optimistic.

根据市场数据，尽管标准普尔500指数在4月下降了5.7％，但比特币最近跃升至85,000美元。从比特币的贸易战队引起的崩溃至74,400美元的14％反弹使许多贸易商感到困惑，但谨慎乐观。

Short-Term Holders Under Pressure

在压力下短期持有人

Analyzing short-term holder behavior provides important clues about Bitcoin’s market direction. According to data shared by CryptoQuant contributor CryptoMe, two key metrics stand out.

分析短期持有人行为提供了有关比特币市场方向的重要线索。根据CryptoQuant撰稿人Cryptome共享的数据，两个关键指标脱颖而出。

The Short-Term Holder Spent Output Profit Ratio (STH-SOPR) has fallen below 1.0 based on a 14-day moving average. This indicates that many short-term investors are selling Bitcoin at a loss, a pattern often associated with market capitulation phases.

短期持有人支出的产出利率（STH-SOPR）基于14天的移动平均线低于1.0。这表明许多短期投资者正在亏本出售比特币，这种模式通常与市场投降阶段有关。

While this might seem bearish in the immediate term, similar dips in STH-SOPR during past bull markets have typically presented good accumulation opportunities. These periods of loss-taking by short-term holders have historically marked temporary bottoms.

虽然这在不久的时间似乎看跌，但在过去的牛市中，STH-SOPR的类似下降通常带来了良好的积累机会。短期持有人的这些损失时期历史上具有明显的临时底部。

The second notable metric is the STH Realized Price, currently around $92,000. This represents the average cost basis for coins held by short-term investors. When Bitcoin trades below this level, as it currently does, it can signal undervaluation relative to recent buyer activity.

第二个值得注意的指标是STH实现的价格，目前约为92,000美元。这代表了短期投资者持有的硬币的平均成本基础。当比特币的交易低于此水平时，相对于最近的买家活动，它可能会表明低估。

Periods when Bitcoin’s spot price dips below the realized price have often coincided with long-term accumulation zones during previous bullish cycles. However, these indicators alone don’t confirm a market bottom.

比特币的现货价格下跌低于实现价格的时期通常与以前的看涨周期中的长期积累区相吻合。但是，仅这些指标并不能确认市场底层。

Global Economic Factors Supporting Bitcoin

支持比特币的全球经济因素

Several global economic factors could potentially drive Bitcoin higher in the coming weeks.

在接下来的几周中，几个全球经济因素可能会使比特币更高。

In China, new bank loans in March rebounded more than expected to $500 billion, exceeding analyst predictions by over 20% and showing strong recovery from the previous month. The People’s Bank of China has promised to increase stimulus measures to reduce the impact of the ongoing trade war with the United States.

在中国，3月份的新银行贷款反弹超过了5000亿美元，超过了分析师的预测超过20％，并且显示出上个月的强劲恢复。中国人民银行已承诺将提高刺激措施，以减少正在进行的贸易战争的影响。

The European Central Bank has also cut interest rates for the seventh time in a year to support the eurozone economy. The ECB has lowered the cost of capital to its lowest level since late 2022. Investment banks have reduced their inflation forecasts for the region, as the tariff war could reduce the eurozone’s gross domestic product by 0.5%.

欧洲中央银行在一年中的第七次降低了利率，以支持欧元区经济。欧洲央行已将资本成本降低到2022年底以来的最低水平。投资银行减少了对该地区的通货膨胀预测，因为关税战争可以将欧元区的国内生产总值降低0.5％。

These stimulus measures in major economies typically increase liquidity in financial markets, which can benefit Bitcoin and other risk assets.

这些主要经济体的刺激措施通常会增加金融市场的流动性，这可以使比特币和其他风险资产受益。

Adding to this is a weakening US dollar, as measured by the DXY Index, which has dropped to its lowest level in three years. A weaker dollar is often correlated with stronger Bitcoin performance.

通过DXY指数衡量，这是一笔弱的美元，该指数在三年内下降到了最低水平。较弱的美元通常与更强的比特币性能相关。

Political pressure on the US Federal Reserve is also mounting. US President Donald Trump has publicly criticized Fed Chair Jerome Powell’s administration and called for lower interest rates. Trump even stated that Powell’s removal “cannot come fast enough.”

美国美联储的政治压力也在加剧。美国总统唐纳德·特朗普（Donald Trump）公开批评美联储主席杰罗姆·鲍威尔（Jerome Powell）的政府，并呼吁提高利率。特朗普甚至说，鲍威尔的罢免“进步不够快”。

Despite these pressures, recent US economic data shows little reason for a more relaxed monetary policy. Initial jobless claims fell by 9,000 to 215,000 in mid-April, and Powell has described the labor market as being in “solid condition.”

尽管有这些压力，但最近的美国经济数据几乎没有理由采取更轻松的货币政策。 4月中旬，最初的失业要求下降了9,000至215,000，鲍威尔将劳动力市场描述为处于“稳固状态”。

Bitcoin miners have demonstrated strong long-term commitment, with the network hashrate increasing by 8% compared to the previous month. This comes despite concerns that the Bitcoin halving in April 2024 would cause miners to exit the market due to lower profits.

比特币矿工表现出了强大的长期承诺，与上个月相比，网络的哈希拉特增加了8％。尽管担心比特币在2024年4月减半会导致矿工由于利润较低而退出市场。

Miners reportedly hold almost 1.8 million BTC, and their continued commitment to the network is seen as a positive sign for Bitcoin’s long-term prospects.

据报道，矿工持有近​​180万BTC，他们对网络的持续承诺被视为比特币长期前景的积极信号。

Market analysts suggest that if macroeconomic conditions improve and liquidity returns to the market, Bitcoin could resume its upward trajectory toward $90,000.

市场分析师建议，如果宏观经济状况改善并回到市场，比特币可以恢复其向上的轨迹至90,000美元。