比特币（BTC）价格在关键水平附近巩固ATH突破

经过多周的集会，比特币的交易约为103,000美元，这使得价格上涨通过了主要的阻力水平，从而重新激发了市场上的看涨情绪。

Bitcoin (BTC) is currently trading at around $103,000 after a multi-week rally that saw the price surge through major resistance levels, ultimately setting the stage for a critical test zone. As the cryptocurrency broke above $90K and $100K, it unlocked strong momentum, but now, with the all-time high (ATH) near $109K in sight, a successful push could confirm the beginning of a new bullish phase. However, rejection or a fakeout at current levels could trigger a sharp correction.

经过多周的集会，比特币（BTC）目前的交易价格约为103,000美元，这使价格上涨通过了主要阻力水平，最终为关键的测试区奠定了基础。随着加密货币的破损超过$ 90k和$ 10万美元，它释放了强大的动力，但是现在，随着历史最高的高价（ATH）接近$ 109,000，成功的推动可以证实新看涨阶段的开始。但是，在当前水平上的拒绝或虚假可能会触发急剧的校正。

On-chain data from CryptoQuant sheds light on this pivotal moment. Since May 8th, short-term holders (STH) have finally moved back into profit territory as Bitcoin crossed above the $99,000 mark. From there, the Spent Output Profit Ratio (SOPR) for this group has remained above 1, indicating that STH are now selling coins at a profit.

来自加密量的链链数据阐明了这一关键时刻。自5月8日以来，短期持有人（STH）终于回到了利润领域，因为比特币超过了99,000美元。从那里开始，该组的支出产出利率（SOPR）仍保持在1以上，这表明STH现在正在以利润出售硬币。

This is a crucial development because when STHs are in profit, they tend to support market momentum. Conversely, when they are in loss, they usually capitulate under any signs of bearish pressure. Moreover, this metric reflects growing confidence and momentum, which are essential for sustaining an uptrend.

这是一个至关重要的发展，因为当STH盈利时，它们倾向于支持市场势头。相反，当它们损失时，它们通常会在任何看跌压力的迹象下屈服。此外，该指标反映了日益增长的信心和动力，这对于维持上升趋势至关重要。

However, the same data also warns that as SOPR rises, so does the likelihood of increased sell pressure. But for now, the trend remains bullish, and Bitcoin’s ability to maintain this zone—and break above the ATH—will determine whether the market accelerates higher or pauses for consolidation.

但是，相同的数据还警告说，随着SOPR的增加，销售压力增加的可能性也是如此。但是目前，这种趋势仍然看涨，比特币保持该区域并超越ATH的能力将决定市场是否会加速更高还是停顿合并。

STH Regain Profits As Bitcoin Eyes ATH Breakout

STH重新获得利润，因为比特币眼睛ATH突破

Bitcoin is showing good momentum after reclaiming key resistance levels, but a breakout above the $109,000 all-time high remains critical to confirm the start of a full-scale rally. After peaking near $105,000, BTC faced moderate selling pressure and pulled back into the $101K–$100K support range, where buyers have stepped in to defend the move. This area now serves as a pivotal demand zone, and bulls must hold it to maintain market structure and push higher in the coming sessions.

在收回关键阻力水平后，比特币表现出良好的动力，但是超过$ 109,000的历史最高水平的突破对于确认全面集会的开始仍然至关重要。在达到105,000美元的高峰之后，BTC面临中等销售的压力，并返回了101,000美元 - $ 100K的支持范围，买家已经介入以捍卫此举。该地区现在是一个关键的需求区，公牛必须将其持有以维持市场结构并在即将到来的会议上提高。

According to CryptoQuant analyst Darkfost, a significant trend has emerged since May 8th—short-term holders (STH) are finally back in profit as Bitcoin crossed above the $99,000 mark. From there, their SOPR (Spent Output Profit Ratio) has remained above 1, signaling that coins spent by STH are being sold at a profit. This is crucial because when STHs are in profit, they tend to support market momentum.

根据CryptoQuant Analyst Darkfost的说法，自5月8日以来，随着比特币超过99,000美元的超过99,000美元的越野，Short-Term持有人（STH）终于出现了一个重大趋势。从那里开始，他们的SOPR（用过的产出利润率）保持在1以上，表明STH花费的硬币正在以利润出售。这至关重要，因为当STH盈利时，它们倾向于支持市场势头。

Darkfost adds that when SOPR begins pushing toward 1.03, it often suggests growing sell pressure from profit-taking. However, that’s not currently the case. While some profit-taking is natural, the broader sentiment appears confident, with holders showing signs of restraint. “It feels like we’re just getting warmed up,” says Darkfost, suggesting this rally may have more room to move.

DarkFost补充说，当Sopr开始向1.03推向1.03时，通常表明销售盈利的压力增加。但是，目前不是这种情况。尽管有一些利润是自然的，但更广泛的情绪似乎是自信的，持有人表现出约束的迹象。 Darkfost说：“感觉就像我们只是在热身。”这次集会可能有更多的移动空间。