比特币（BTC）继续遵循其2017周期的轨迹

尽管最近的市场动荡，但美国与其邻国以及中国之间的关税紧张局势不断提高。

output: Bitcoin (BTC) price movements have largely mirrored those observed during the bull cycle of 2017, despite recent market volatility driven by escalating tariff tensions between the U.S. and its neighboring nations, including China.

产出：尽管最近在包括中国在内的美国和邻国之间的关税紧张局势升级，比特币（BTC）的价格变动在2017年牛周期中观察到的那些市场波动在很大程度上反映了2017年牛周期。

Since hitting a cycle low during the FTX collapse in November 2022, BTC has risen by around 525%. In comparison, at a similar stage in the 2017 cycle, bitcoin had risen by 533%.

自2022年11月在FTX崩溃中击中周期低以来，BTC上升了约525％。相比之下，在2017年周期的类似阶段，比特币增长了533％。

Another way to assess bitcoin’s cyclical behavior is by tracking the returns from previous all-time highs. The last cycle's market peak in nominal terms was $69,000 in November 2021. However, on-chain indicators suggest that April 2021, when BTC hit roughly $64,000, marked the true top of the cycle.

评估比特币周期性行为的另一种方法是跟踪以前历史最高点的回报。上一个周期的名义上的市场达到了2021年11月的69,000美元。但是，链指标表明，2021年4月，当BTC达到大约64,000美元时，标志着该周期的真实顶级。

Remarkably, bitcoin has maintained a consistent trajectory in tracking previous cycles, despite the varying geopolitical landscapes.

值得注意的是，尽管地缘政治景观不同，但比特币在跟踪以前的周期方面保持了一致的轨迹。

Moreover, BTC has traded within a range of $90,000 to $109,000 for the past 2.5 months, despite the heightened market volatility. Within this period, BTC has repeatedly tested both the upper and lower limits of its current trading channel.

此外，尽管市场波动率提高，但在过去2.5个月中，BTC在过去2.5个月内的交易范围在90,000至109,000美元之间。在此期间，BTC反复测试了其当前交易渠道的上限和下限。

Previously, CoinDesk research highlighted $91,000 as a local bottom for bitcoin.

以前，Coindesk Research强调了91,000美元作为比特币的本地底部。