比特币（BTC）经历了一周的优柔寡断价格行动，使投资者对市场的方向不确定

比特币经历了一周的优柔寡断价格行动，使投资者对市场的方向不确定。尽管停滞不前，历史趋势仍在

Bitcoin price has been stuck in a holding pattern this past week, leaving investors in a state of uncertainty regarding the market's direction.

比特币的价格在过去一周中一直处于持有模式中，使投资者对市场的方向处于不确定性状态。

However, despite this stagnation, historical trends in investor behavior suggest a rally could still be brewing, defying expectations based on price alone.

然而，尽管停滞不前，投资者行为的历史趋势表明，集会仍然可能是在酿造，仅基于价格就会违背期望。

As December 2024 buyers are maturing into long-term holders (LTHs) with a 155-day period, the LTH net unrealized profit/loss (NUPL) is becoming increasingly positive, which is a bullish factor for Bitcoin.

由于2024年12月的买家正在成熟到155天的长期持有人（LTHS），因此第LTH净未实现的盈利/损失（NUPL）变得越来越积极，这是比特币的看涨因素。

Why Is LTH NUPL Crucial For Bitcoin?

为什么LTH NUPL对比特币至关重要？

The LTH NUPL tracks the collective realized profit or loss of investors who bought Bitcoin at least 155 days ago, hence the term “long-term holders.” It plays a pivotal role in gauging the market's overall health and potential for future movements.

LTH NUPL跟踪集体实现的盈利或损失，这些投资者至少在155天前购买了比特币，因此“长期持有人”一词。它在衡量市场的整体健康状况和未来运动的潜力方面起着关键作用。

When the LTH NUPL is deep in negative territory, it signifies that a large portion of LTHs are currently at a loss, which usually occurs during bear markets.

当LTH NUPL在负面的领土深处时，它表明，目前很大一部分LTH处于亏损状态，通常发生在熊市。

As the market recovers and prices rise, the LTH NUPL gradually becomes less negative, indicating that LTHs are slowly recovering their investments.

随着市场恢复和价格上涨，LTH NUPL逐渐变得越来越少，这表明LTHS正在慢慢恢复其投资。

A neutral LTH NUPL, around zero, suggests that LTHs have, on average, broken even on their investments. This balance point is often reached at the end of a bull cycle or during a period of prolonged price stability.

中立的LTH NUPL（零左右）表明，即使在投资中，LTH平均也破坏了。在公牛周期结束时或价格延长的时期，通常达到此平衡点。

As the LTH NUPL moves into positive territory, it indicates that the majority of LTHs are now in profit, which is a bullish signal as it lessens the urgency for LTHs to sell their coins to realize gains.

随着LTH NUPL进入积极的领域，这表明大多数LTH现在都在获利，这是一个看涨的信号，因为它减少了LTH的紧迫性出售其硬币以实现收益的紧迫性。

This behavior, in turn, could support Bitcoin’s price stability and potentially drive gains further as the market matures and short-term volatility is absorbed.

反过来，这种行为可以支持比特币的价格稳定性，并且随着市场成熟和短期波动的吸收，可能会进一步推动增长。

Bitcoin Fear And Greed Index Shifts Again

比特币恐惧和贪婪指数再次改变

The crypto market has seen better days despite the LTH NUPL being in a healthy range.

尽管LTH NUPL处于健康范围内，但加密市场的日子已经过了更好。

According to the Fear & Greed Index, investor sentiment has swung back toward fear over the past 48 hours.

根据恐惧和贪婪指数，在过去的48小时中，投资者的情绪恢复了恐惧。

The shift to more fear in the crypto market signals that retail traders are becoming increasingly apprehensive. This increased fear could set the stage for a market rise.

在加密货币市场信号中，零售商人变得越来越担心的转变。这种增加的恐惧可能为市场上升带来舞台。

Historically, bearish crowd sentiment has typically signaled a buying opportunity, while traders tend to get sold out of the market when greed is high.

从历史上看，看跌人群的情绪通常标志着购买机会，而交易者在贪婪很高时往往会被卖光。

The fact that the market is moving into fear again amid strong price fundamentals and a rising LTH NUPL could suggest that the breakout is still to come as traders value hunt during the dip.

由于价格强劲的基本原理和上升的LTH NUPL可能会表明，由于交易者在下跌过程中重视狩猎，因此市场再次陷入恐惧。

What Next For Bitcoin Price?

比特币价格下一步什么？

Bitcoin price is currently trading at $103,885. It is now ranging between $105,000, which is the recent high, and $102,734, a key level to watch out for.

比特币价格目前的交易价格为103,885美元。现在，它的范围在105,000美元之间，即最近的高点和102,734美元，这是要注意的关键水平。

To reach $110,000, Bitcoin needs to rally nearly 6%, which is achievable considering the recent momentum.

要达到110,000美元，比特币需要将近6％的速度集结，考虑到最近的势头，这是可以实现的。

Last week, Bitcoin surged 11% in just five days, showcasing its potential for swift upward movements. In the process of this rally, a resistance level was encountered and flipped into support at $105,000.

上周，比特币在短短五天内飙升了11％，展示了其迅速向上移动的潜力。在这次集会的过程中，遇到了一个阻力水平，并以105,000美元的价格转向支撑。

The next resistance to watch out for is at $106,265. If this level is successfully flipped into support, it would likely confirm a push toward $110,000 and possibly a new all-time high.

要注意的下一个阻力为106,265美元。如果该水平成功地得到支持，它可能会确认向110,000美元的推动力，并可能是新的历史最高水平。

However, if Bitcoin continues to consolidate sideways, impatient investors might sell to avoid further potential losses. This selling pressure could drive the price lower from $102,734.

但是，如果比特币继续巩固侧面，则不耐烦的投资者可能会出售以避免进一步的潜在损失。这种销售压力可能会使价格从102,734美元降低。

If this level breaks down, it would invalidate the bullish outlook for now, potentially dropping the price toward $100,000.

如果这个水平分解，它将暂时使看涨的前景无效，可能会将价格降至100,000美元。