比特币（BTC）再次处于关键时刻

由于旗舰加密货币的调情以110,000美元的水平调情，市场观察者被分割了：这是BTC重大突破的开始，还是警告信号闪烁看跌？

Bitcoin (BTC) is once again at a critical juncture as the flagship cryptocurrency flirts with the $110,000 level.

比特币（BTC）再次处于关键时刻，因为旗舰加密货币以110,000美元的价格调情。

While institutional players continue to dominate Bitcoin’s recent price action, retail interest remains surprisingly muted. Technical indicators suggest Bitcoin is stuck in a range, caught between bullish momentum from long-term holders and short-term bearish pressures.

尽管机构参与者继续占据比特币最近的价格行动，但零售利益仍然令人惊讶。技术指标表明，比特币被困在一定范围内，在长期持有人的看涨势头和短期看跌压力之间。

Here’s a breakdown of where Bitcoin stands today — and what could happen next.

这是比特币今天所处位置的细分 - 接下来可能会发生什么。

Bitcoin Poised for Breakout? $110K Test Looms Large

比特币准备突破？ $ 110K测试迫在眉睫

Analysts are eyeing the $110,000 resistance level as the next key hurdle for Bitcoin. A successful breakout above this level could trigger a significant rally, with some bulls projecting a move toward $120,000 and beyond.

分析师将110,000美元的阻力水平视为比特币的下一个关键障碍。超过此水平的成功突破可能会引发重大集会，其中一些公牛将转移到120,000美元及以上。

Several bullish factors support this scenario:

几个看涨因素支持这种情况：

According to FXLeaders, Bitcoin’s current consolidation phase is building pressure for an explosive move. The longer BTC hovers near $110,000 without a significant pullback, the greater the likelihood of an upward breakout.

根据FXLEADERS的说法，比特币的当前合并阶段正在为爆炸性移动增加压力。较长的BTC徘徊在$ 110,000的情况下，没有明显的回调，突破的可能性就越大。

BTC price action is building pressure for an explosive move. The longer the price stays in consolidation, the more pressure builds. A breakout (or breakdown) will come eventually, and when it does, it could be swift and decisive. The question is, which way will it go? Will Bitcoin break out to new highs above $110K, setting course for $120K and beyond? Or will it finally give way to bearish selling, testing the lower Fibs around $100K-$102.5K? The answer may depend on a few key factors. Firstly, there are plenty of sellers emerging in this final wave of (c), but they seem to be largely short-term traders taking profits. This is evident in the lower timeframe momentum indicators, which are showing signs of divergence. For instance, the 12-hour RSI is overbought, despite the fact that the price is still within a bullish channel on that timeframe. This suggests that sellers are becoming more active, but they are not yet strong enough to overcome the long-term bullish trends. However, if the price pulls back further and breaks down below the lower Fibs, then this could serve as a strong bearish signal, as it would indicate that the sellers have gained the upper hand.

BTC的价格行动正在为爆炸性举动增加压力。价格停留的时间越长，压力就越多。最终将出现突破（或崩溃），当它这样做时，它可能是迅速而果断的。问题是，它将走哪种方式？比特币会爆发到$ 110K以上的新高点，以$ 120K及以上的价格设定课程？还是最终会让位于看跌销售，测试较低的纤维约100k- $ 102.5k？答案可能取决于一些关键因素。首先，在最后一波（C）的浪潮中有很多卖家出现，但似乎主要是短期交易者获利。这在较低的时间范围动量指标中很明显，这表明差异的迹象。例如，尽管价格仍在该时间范围内的看涨渠道内，但12小时的RSI被过分购买。这表明卖方变得越来越活跃，但他们还不足以克服长期看涨趋势。但是，如果价格进一步降低并在下部纤维以下分解，那么这可能是一个强烈的看跌信号，因为这表明卖方已经获得了上风。

Short-Term Bearish Pressures Still Mounting

短期看跌压力仍在

Despite the optimistic long-term outlook, short-term technicals paint a more cautious picture.

尽管长期前景乐观，但短期技术描绘了更加谨慎的画面。

According to TradingView analysts, if Bitcoin fails to break above $110K soon, a correction towards the $100,000-$102,500 support range becomes likely. The near-term bearish pressure is largely attributed to profit-taking by short-term traders and lack of fresh retail inflows.

根据TradingView分析师的数据，如果比特币不久就无法折扣11万美元，则可能会更正100,000美元至102,500美元的支持范围。近期看跌压力在很大程度上归因于短期交易者的利润和缺乏新鲜零售流入。

If the sellers can manage to push the price below the lower Fibs, then this could open up a move to the 38.2% Fibonacci retracement level at $97K or the 50% Fibonacci retracement level at $91K.

如果卖方可以设法将价格推高到较低的纤维以下，那么这可能会使佛比纳奇回回38.2％的搬迁至97,000美元或50％的斐波那契回收水平为$ 91K。

The tide could turn if we see a decisive breakout above $110K, as this could serve to attract new buyers into the market and ultimately push the price higher.

如果我们看到超过$ 110k的决定性突破，潮流可能会扭转，因为这可以吸引新的买家进入市场，并最终将价格提高提高。

Where Are the Retail BTC Investors?

零售BTC投资者在哪里？

One of the more puzzling aspects of Bitcoin’s current rally is the lack of retail participation. Despite BTC nearing new all-time highs, Google search volumes for Bitcoin remain flat, a stark contrast to the 2021 bull run where retail FOMO (Fear of Missing Out) drove parabolic price spikes.

比特币目前集会的最令人困惑的方面之一是缺乏零售参与。尽管BTC接近新的历史新高，但Google的比特币搜索量仍然是平坦的，与2021年的公牛运行形成鲜明对比，零售FOMO（担心错过）驱动了抛物线价格峰值。

Cointelegraph reports:

COINTELEGRAPH报告：

This divergence suggests that the current Bitcoin rally is institutional-driven, lacking the retail frenzy that typically accompanies major bull markets. While this could mean a more stable uptrend, it also raises questions about the sustainability of Bitcoin’s momentum without broader market engagement.

这种分歧表明，当前的比特币集会是机构驱动的，缺乏通常伴随主要牛市的零售疯狂。虽然这可能意味着更稳定的上升趋势，但它也提出了有关比特币势头可持续性的疑问，而没有更广泛的市场参与。

What to Watch Next for U.S. Investors

接下来要看的是美国投资者

For U.S. investors eyeing Bitcoin, here are the key levels and events to monitor:

对于关注比特币的投资者来说，这是要监控的关键水平和事件：

Will Bitcoin Break Out or Retrace?

比特币会爆发还是反击？

The current standoff between institutional buyers and cautious retail investors is creating a high-stakes scenario for Bitcoin. A decisive breakout above $110,000 could ignite the next leg of the bull market, but failure to breach this resistance could trigger a corrective pullback.

机构买家和谨慎的零售投资者之间的当前僵局正在为比特币创造高风险。超过110,000美元的决定性突破可能会点燃下一个牛市的下一条比赛，但是不违反这种阻力可能会引发纠正措施的回调。

For now, Bitcoin remains stuck in a tug-of-war — but with volatility brewing, a major move seems inevitable.

就目前而言，比特币仍然陷入拔河比赛中 - 但是随着波动性酿造，似乎是不可避免的。