比特币（BTC）进入关键范围：买家目标$ 100K突破

比特币的交易在关键的价格范围内，低于$ 90,000的跌幅可能会触发势头的转变

Bitcoin (BTC) is encountering strong resistance as bullish sentiment begins to wane, leading to a return of sellers in greater numbers, according to technical analysis.

根据技术分析，比特币（BTC）遇到强烈的抵抗力，随着看涨的情绪开始消失，导致卖方的回报率更高。

After an impressive run that saw it test new highs for the year, the flagship cryptocurrency is now attempting to confirm the critical $92,000-$93,000 support zone as a base for continuation. However, if selling pressure continues to increase, a breakdown below this area could trigger a sharper correction and signal a potential shift in the overall trend.

经过令人印象深刻的运行，它测试了一年的新高点，旗舰加密货币现在正试图确认关键的92,000美元至93,000美元的支持区作为延续的基础。但是，如果销售压力不断增加，那么低于该区域的故障可能会引发更新的校正，并表示总体趋势的潜在转变。

Top analyst Axel Adler shared insights that highlight a key risk factor: in the current bull cycle, short-term holders tend to take profits once their Net Unrealized Profit and Loss (NUPL) exceeds 40%.

顶级分析师阿克塞尔·阿德勒（Axel Adler）共享了一个关键危险因素的见解：在当前的牛周期中，一旦其未实现的损益（NUPL）超过40％，短期持有人倾向于获利。

"This level is usually reached around $95,000-$97,000 in the current cycle, and historically, it marks the point where speculators begin offloading their positions," explained Adler.

阿德勒解释说：“在当前周期中，这个水平通常达到$ 95,000- $ 97,000，历史上，这标志着投机者开始卸载其头寸的地步。”

"This increases spot market supply and puts downward pressure on price, especially as institutions and funds typically hold for longer-term cycles and aren't likely to sell at these levels."

“这增加了现货市场的供应，并给价格下降压力，尤其是当机构和资金通常用于长期周期，并且不太可能在这些水平上出售。”

This observation is particularly relevant as Bitcoin recently showed signs of stalling after failing to sustain momentum above the $98,000 mark.

该观察结果尤其重要，因为比特币最近未能维持超过98,000美元的势头后显示出停滞的迹象。

With traders growing increasingly cautious and macroeconomic uncertainty weighing on market sentiment, the coming days will be crucial for determining the next move.

随着贸易商的日益谨慎和宏观经济的不确定性对市场情绪产生压力，未来几天对于确定下一步行动至关重要。

"The structure remains intact for now, but BTC must hold the $92K region to avoid flipping key support into resistance," noted the analyst.

该分析师指出：“目前，该结构保持完整，但是BTC必须持有$ 92K的区域，以避免将钥匙支撑转向阻力。”

"A clean bounce from this level could revive the bullish case, but failure to hold could shift sentiment further bearish. As market participants watch closely, Bitcoin faces one of its most serious tests in this cycle. The next move may define the trend for weeks to come."

“从这个水平进行干净的反弹可能会恢复看涨的案件，但如果不举行可能会改变情绪。随着市场参与者密切关注，比特币在此周期中面临最严重的测试之一。下一步行动可能会定义未来几周的趋势。”

Bitcoin Enters Pivotal Range: Buyers Target $100K Breakout

比特币进入关键范围：买家目标$ 100K突破

Bitcoin is trading within a crucial price range, where a drop below $90,000 could trigger a shift in momentum toward the downside, while a breakout above $100,000 could spark a powerful new leg of the bull cycle.

比特币在关键的价格范围内交易，低于$ 90,000的跌幅可能会触发动力向不利的一面转移，而超过100,000美元以上的突破可能会引发强大的新牛周期。

After enduring months of selling pressure from its all-time highs, BTC is showing renewed strength and attempting to confirm a broader bullish setup for the entire market. The recent push above $92K was a key technical step, but now bulls must defend that level and build momentum toward a sustained breakout.

在经历了几个月的销售压力之后，BTC表现出了新的实力，并试图确认整个市场的更广泛的看涨设置。最近的推动力超过$ 92K是一个关键的技术步骤，但是现在，公牛必须捍卫这一水平，并为持续的突破而建立动力。

However, market conditions remain volatile. The current environment is shaped by macroeconomic uncertainty and rising geopolitical tensions, creating unpredictable swings across crypto and traditional markets.

但是，市场状况仍然波动。当前的环境是由宏观经济的不确定性和地缘政治紧张局势升高的，在加密和传统市场之间造成了不可预测的波动。

Still, Bitcoin’s price structure suggests bulls are gaining the upper hand—at least for now.

尽管如此，比特币的价格结构表明，至少目前，公牛队正在占上风。

Adler shared insights on the role of short-term holders (1–3 months), who are often the most aggressive market participants. This group includes professional speculators, many of whom trade Bitcoin via ETF platforms.

阿德勒（Adler）分享了对短期持有人（1-3个月）的作用的见解，这些持有人通常是最激进的市场参与者。该小组包括专业投机者，其中许多通过ETF平台进行了交易比特币。

Historically, in this bull cycle, when their Net Unrealized Profit and Loss (NUPL) exceeds 40%, they begin to take profits, which contributes to sell pressure. Currently, NUPL sits at just 8%, with its 30-day SMA still negative at -2%, signaling that short-term holders are not yet selling in large numbers.

从历史上看，在这个公牛周期中，当他们的净未实现的损益（NUPL）超过40％时，他们开始获得利润，这有助于卖出压力。目前，NUPL仅为8％，其30天SMA仍为-2％，这表明短期持有人尚未大量销售。

This low NUPL level suggests minimal immediate selling risk, which reinforces the bullish case. As long as NUPL remains subdued, Bitcoin could have room to continue climbing before profit-taking begins.

这种低的NUPL水平表明，立即销售风险最少，这加强了看涨的案件。只要NUPL保持柔和，比特币就可以在获利开始之前继续攀登。

The coming days will be critical—holding above $90K and building toward $100K could open the door for a breakout, while failure to do so may usher in renewed weakness.

接下来的日子将是至关重要的 - 持有超过$ 90K的股份，朝着10万美元的价格建造可能打开突破的大门，而未能这样做可能会引起新的弱点。

All eyes remain on Bitcoin as it stands at one of its most decisive moments in this cycle.

在本周期中，所有目光都保持在比特币上。

Price Action Details: Holding Strong But Facing Resistance

价格动作细节：保持强大但面临抵抗力

Bitcoin is currently trading around $94,158 after a modest pullback from the recent local high near $97,000. The daily chart shows that BTC remains well above both the 200-day simple moving average (SMA) at $90,542 and the 200-day exponential moving average (EMA) at $86,381, suggesting that the broader trend remains bullish.

比特币目前的交易约为94,158美元，此前当地高点接近97,000美元，比特币的价格适中。每日图表显示，BTC远高于200天简单的移动平均线（SMA），为90,542美元，而200天的指数移动平均线（EMA）为86,381美元，这表明更广泛的趋势仍然是看好的。

After breaking through the key $90K level in April, Bitcoin rallied strongly but is now consolidating just below the psychological $100K resistance. Volume has started to taper off, indicating short-term indecision as bulls and bears battle for control. A continued hold above $92K would reinforce the bullish case, potentially setting the stage for a renewed breakout toward $100K and the previous cycle high of $103,600.

在四月份突破了$ 90,000的主要$ 90k水平之后，比特币集会强烈集会，但现在正固结在心理$ 10万美元的阻力之下。数量已经开始逐渐减少，表明短期犹豫不决，因为公牛和熊要争取控制。持续持有的$ 92K将加强看涨的案件，有可能为重新分配的重新分配奠定了基础，而先前的周期高点为103,600美元。

However, a breakdown below $92K could signal a loss of momentum and increase the likelihood of a retest of the 200-day SMA near $90K. This level now

但是，低于$ 92K的细分可能表明势头损失，并增加了200天SMA近90,000美元的重新测试的可能性。现在这个级别