比特币[BTC]从$ 97K的高处下降4％

要求一个$ 10万美元的目标，而比特币[BTC]仅在三天内就从其97,000美元的高价下跌了4％，这听起来可能有些雄心勃勃。

Bitcoin price has encountered a setback in its rally, sliding 4% from its three-day high of $97k.

比特币的价格在其集会中遇到了挫折，比其三天的$ 97,000滑下了4％。

However, on-chain data from Glassnode reveals that Bitcoin network activity recently hit its highest point in six months.

但是，玻璃节链的链数据显示，比特币网络活动最近在六个月内达到了其最高点。

On April 30, 925,914 active addresses participated in the Bitcoin network in a single day, a level not seen since December 2023.

925,914年4月30日，有效地址在一天之内参加了比特币网络，这是自2023年12月以来未见的水平。

At the time, BTC was trading at around $96,951.

当时，BTC的交易约为96,951美元。

However, the massive network activity did not lead to a strong rally in the cryptocurrency. In fact, BTC price fell nearly 2% the very next day.

但是，大规模的网络活动并没有导致加密货币的强烈集会。实际上，第二天BTC价格下跌了近2％。

This pattern is similar to the one observed in early March, when active addresses spiked to 860k on the 7th of March, the highest in a week, only for BTC to retrace 7% as active addresses declined shortly after.Image: BTC price action vs active addresses (last 3 months)

这种模式类似于3月初观察到的模式，当时有效地址在3月7日飙升至860k，这是一周内最高的，只有BTC在Active Adveress后不久就会回顾7％。图片映像：BTC价格动作与活动地址（上3个月）（上3个月）

This price-action behavior showcases a bearish divergence between on-chain activity and price movement.

这种价格行动行为在链活动和价格运动之间表现出看跌的差异。

Furthermore, AMBCrypto's analysis of on-chain data on the same day the active address count surged, revealed that approximately 5,000 BTC, valued at around $484 million, flowed into derivative exchanges.

此外，Ambcrypto对主动地址计数的同一天对链上数据的分析显示，大约5,000 BTC的价值约为4.84亿美元，流入了衍生品交易所。

This inflow signals speculative positioning rather than genuine spot BTC demand.

这种流入的信号是投机定位，而不是真正的现货BTC需求。

So, instead of long-term holders stacking up, the market could be witnessing leverage-driven selling, which likely caused the price dip.

因此，市场可能目睹杠杆驱动的销售可能导致价格下跌，而不是长期持有人堆积。

Is Bitcoin running out of FOMO as active addresses plunge?

比特币是否用来活跃的地址暴跌？

The last time Bitcoin experienced significant spot demand was on April 29, when net outflows across all exchanges spiked while BTC was priced at $94,280.

比特币上一次经历了重大的需求，是4月29日，当时BTC的净流出在所有交易所的净流出时，价格为94,280美元。

Since then, although the price has touched key resistance levels, net flows have remained largely flat, suggesting a lack of substantial buying or selling pressure from major traders.

从那时起，尽管价格触及了关键阻力水平，但净流量基本上仍然是平坦的，这表明缺乏重大买卖或出售主要商人的压力。

This could be a sign of bullish fatigue as retail traders are taking a step back from the market.Image: Bitcoin net exchange outflows vs price action (last 3 months)

这可能是看涨疲劳的迹象，因为零售交易员正在从市场上退后一步。

After reaching a six-month peak on May 2, Bitcoin's active addresses sharply declined to a two-week low of 618k the day after.

在5月2日达到六个月的高峰之后，比特币的活动地址急剧下降到第二天的两周低点，为61.8 k。

This drop reflected a clear hesitation among traders to engage in spot buying near the $97k level. Hence, signaling waning participation and reluctance to accumulate BTC at elevated valuations.

这次下降反映了交易者明显犹豫不决地参与了$ 97,000美元的水平。因此，信号导致参与和不愿意在估值高度上积累BTC。

In this context, the $100k price target appears increasingly unrealistic.

在这种情况下，$ 10万美元的价格目标似乎越来越不现实。