比特币（BTC）表现出潜在看涨趋势的迹象

比特币（BTC）在关键指标驱动的5月表现出潜在看涨趋势的迹象。

Bitcoin (BTC) is showing signs of a potential bullish trend in May, according to key indicators that experts have highlighted.

根据专家强调的关键指标，比特币（BTC）在5月份显示了5月份潜在看涨趋势的迹象。

This comes as the largest cryptocurrency continues its recovery rally from early April lows, trading up 14.6% over the past month.

这是因为最大的加密货币从4月初低点开始恢复集会，在过去一个月中增长了14.6％。

Is A Bitcoin Bull Run Returning?

比特币公牛跑步返回吗？

In a recent X (formerly Twitter) post, analyst and WiM Media founder Robert Breedlove referenced Blockware Team’s average miner breakeven cost data to suggest that Bitcoin might be close to a bull market.

在最近的X（以前是Twitter）的帖子中，分析师和WIM媒体创始人Robert Breedlove引用了Blockware团队的平均矿工Breakeven Coss Cod Data，以表明比特币可能靠近牛市。

He noted that the price usually doesn’t stay below this average for extended periods, as it represents the threshold at which miners may cease operations if they are not profitable.

他指出，价格通常不会长时间保持在平均水平以下，因为它代表了矿工在不盈利的情况下停止运营的门槛。

“In a rational economy, assets rarely trade below their cost of production,” Breedlove remarked.

“在合理的经济中，资产很少低于其生产成本，” Breedlove说。

He highlighted that the index accurately identified six bottoms between 2016 and 2024. Notably, it signals another bottom, which could indicate an upcoming increase in the Bitcoin price.

他强调，该指数在2016年至2024年之间准确地确定了六个底部。值得注意的是，它标志着另一个底部的底部，这可能表明即将上涨比特币价格。

MacroMicro data further supports this. At the time of writing, the 30-day moving average (MA) of the mining cost-to-BTC price ratio stood at 1.05.

Macromicro数据进一步支持了这一点。在撰写本文时，采矿成本与BTC价格比率为30天的移动平均值（MA）为1.05。

This indicated that miners have been operating at a loss on average over the past month. As a result, this could potentially lead to an upward price movement as miners operating at a loss scale back, tightening supply.

这表明矿工在过去一个月中平均亏损。结果，随着矿工以损失量表的向后运行并收紧供应，这可能会导致价格上涨。

The Bitcoin hash rate price model, which assesses Bitcoin’s value based on the historical relationship between its price and hash rate, also contributes to the bullish outlook.

比特币哈希率价格模型，该模型根据其价格和哈希率之间的历史关系评估比特币的价值，也有助于看涨的前景。

Analyst Giovanni noted on X that the model is currently at a Bitcoin support level.

分析师Giovanni在X上指出，该模型当前处于比特币支持水平。

“The fact the hash rate based BTC valuation is at the support level means that probably we reached some kind of local bottom,” the analyst said.

这位分析师说：“基于哈希率的BTC估值的事实是，在支持水平上意味着我们可能达到了某种本地底部。”

Additional market signals strengthen the case for a potential rally. Breedlove pointed out that long-term holders have accumulated approximately 150,000 BTC over the past 30 days. This suggests reduced selling pressure in the $80,000 to $100,000 range.

额外的市场信号加强了潜在集会的情况。 Breedlove指出，在过去的30天内，长期持有人在大约15万BTC中积累了大约150,000 BTC。这表明在80,000美元至100,000美元之间的销售压力降低。

As fewer people are willing to sell Bitcoin at these levels, the price could face upward pressure as demand remains strong, but the supply of available Bitcoin dwindles.

由于较少的人愿意在这些水平上出售比特币，因此价格可能会面临上升压力，因为需求仍然很大，但可用的比特币量减少。

“At its core, the Bitcoin price is simply a function of supply and demand. After an increase in the Bitcoin price, you start to see previously inactive coins move on-chain. Inversely, after prolonged periods of sideways or negative price action, long-term holders begin accumulating more coins, setting the stage for a supply-shock and upward price pressure,” he added.

“从本质上讲，比特币价格仅仅是供求的函数。在比特币价格上涨后，您开始看到以前的不活动硬币在链上移动。在长时间的侧侧或负价行动的长时间之后，长期持有人开始累积更多的硬币，为供应量增加的价格和上升的价格压力，并补充说。”

Moreover, rising global fiat liquidity is expanding the pool of capital available to invest in Bitcoin. This is further supported by exchange-traded funds (ETFs), Bitcoin treasury companies, and convertible bonds.

此外，全球菲亚特流动性上升正在扩大可用于投资比特币的资本库。交易所贸易资金（ETF），比特币财政公司和可转换债券进一步支持这一点。

These financial vehicles provide easier access for new liquidity to enter the Bitcoin market, bridging the gap between traditional finance and cryptocurrency.

这些金融工具为新的流动性提供了更容易进入比特币市场的机会，从而弥合了传统金融和加密货币之间的差距。

“And it’s not just USD liquidity that’s increasing – liquidity of all fiat currencies is on the rise, and Bitcoin is a global asset,” Breedlove stated.

Breedlove说：“不仅在增加美元流动性 - 所有法定货币的流动性都在上升，比特币是全球资产。”

Recently, BeInCrypto also highlighted a few bullish factors for BTC. The coin’s apparent demand turned positive, which implies an increase in interest or buying activity for Bitcoin.

最近，Beincrypto还强调了BTC的一些看涨因素。硬币的明显需求变成了积极的态度，这意味着比特币的利息或购买活动的增加。

Additionally, the Market Value to Realized Value (MVRV) ratio rebounded from the historically significant mean of 1.74. This movement has previously proven to be a reliable indicator of the early stages of a bull market for Bitcoin.

此外，从历史上显着的1.74平均值反弹的实现价值（MVRV）的市场价值反弹。以前，该运动已被证明是比特币牛市早期阶段的可靠指标。

Amidst these bullish signs, BTC’s price performance has been quite remarkable. After briefly dropping below the 75,000 mark in early April, the price has continued to recover.

在这些看涨的迹象中，BTC的价格表现非常出色。在4月初短暂地降至75,000大关之后，价格继续恢复。

Over the past week, BTC has seen a 4.3% uptick. At press time, Bitcoin’s trading price stood at $97,048, showing daily gains of 2.3%.

在过去的一周中，BTC的增长率为4.3％。发稿时，比特币的交易价格为97,048美元，每日增长率为2.3％。