7 月 27 日比特币 (BTC) 价格分析：为什么比特币会抛售？

比特币最近跌破 6.25 万美元，创下月度新低。分析师指出，虽然这种价格走势并不理想，但对于比特币和山寨币来说并不罕见。

Bitcoin recently fell below $62.5k, hitting a new monthly low. Several factors could be contributing to this price action, including the summer lull and the recent market highs. However, despite the short-term price movements, this period is presenting a good opportunity to position or reposition portfolios for future success, with major market dips being a good time to add to quality altcoin positions.

比特币最近跌破 6.25 万美元，创下月度新低。有几个因素可能导致这种价格走势，包括夏季的平静和最近的市场高点。然而，尽管存在短期价格波动，这一时期还是为未来成功定位或重新定位投资组合的好机会，主要市场下跌是增加优质山寨币头寸的好时机。

Recently, several analysts have discussed the current state of the cryptocurrency market, with a focus on Bitcoin and altcoins. In this discussion, several points were raised regarding why Bitcoin might be dropping.

最近，几位分析师讨论了加密货币市场的现状，重点关注比特币和山寨币。在这次讨论中，人们就比特币可能下跌的原因提出了几点。

Summer Lull: This period is typically characterized by reduced activity, especially in the crypto market. Historically, the summer months experience a lull in the crypto market, even during bullish years. According to reports, Q3 trading volumes are much lower, with Bitcoin trading volumes typically dropping by more than 40% compared to the busiest quarter.

夏季平静期：这一时期的典型特征是活动减少，尤其是在加密货币市场。从历史上看，即使在牛市时期，夏季的几个月也会经历加密货币市场的平静期。据报道，第三季度交易量要低得多，与最繁忙的季度相比，比特币交易量通常下降 40% 以上。

Miles highlighted that in 2017, altcoins underperformed compared to Bitcoin. In 2019, the market peaked at $13k before undergoing a correction. During 2020, “DeFi Summer” occurred as investors were risk-averse. In 2021, a bearish trend continued until Elon Musk’s tweet in July. The market significantly tanked in 2022, and in 2023, it moved sideways.

Miles 强调，2017 年，山寨币的表现落后于比特币。 2019 年，市场在经历调整之前达到了 13,000 美元的峰值。 2020年，投资者规避风险，迎来了“DeFi之夏”。 2021 年，看跌趋势一直持续到 7 月份埃隆·马斯克 (Elon Musk) 发推文为止。 2022年市场大幅下跌，2023年则横盘整理。

He added that many traders and funds also tend to reduce their activities in July and August, which contributes to the market's sideways movement. This period is often less clear from a macro perspective, but later in the year, optimism usually returns, reflected in better market performance in Q4 and Q1.

他补充说，许多交易员和基金也倾向于减少七月和八月的活动，这导致了市场的横盘走势。从宏观角度来看，这一时期往往不太明确，但在今年晚些时候，乐观情绪通常会回归，反映在第四季度和第一季度更好的市场表现。

The Total 3 chart, which excludes Bitcoin and Ethereum, shows that altcoins are currently within a range, moving sideways after a dip. Both the altcoin market and Bitcoin are in a range with lower volume and volatility compared to earlier in the year, especially during the price surges in March and April.

Total 3 图表（不包括比特币和以太坊）显示，山寨币目前处于一个区间内，在下跌后横盘整理。与今年早些时候相比，山寨币市场和比特币都处于成交量和波动性较低的区间，尤其是在 3 月和 4 月的价格飙升期间。