比特币（BTC）价格恢复引发了本月市场情绪的转变

加密货币市场本月正在经历投资者情绪的重大转变。比特币的价格恢复激发了需求的连锁反应。

The cryptocurrency market experienced a significant shift in investor sentiment this month, as Bitcoin’s price recovery sparked a ripple effect in demand, ranging from large investors to smaller ones.

加密货币市场本月的投资者情绪发生了重大变化，因为比特币的价格回收产生了需求的连锁反应，从大型投资者到较小的投资者。

Bitcoin has rebounded by 25% from its early April lows. On-chain data and updated forecasts from industry experts offer insights into the sustainability of this rally.

比特币从4月初的低点反弹了25％。链上数据和行业专家的最新预测提供了有关该集会可持续性的见解。

Fear and Greed Index Shows Market Sentiment Shifting

恐惧和贪婪指数显示市场情绪转移

According to data from Alternative.me, the Fear and Greed Index surged from a low of 18 to a high of 72 in April. This is the highest level since February and marks a clear shift from fear to greed.

根据替代性的数据，恐惧和贪婪指数从4月的低点升至72。这是自2月以来的最高水平，标志着从恐惧转变为贪婪的明显转变。

However, CoinMarketCap’s version of the index shows a slightly different picture. It rose from 15 to 52 points, moving from extreme fear to a neutral state.

但是，CoinMarketCap的索引版本显示出略有不同的图片。它从15分提高到52分，从极端恐惧转变为中立状态。

Although the two indices differ, both confirm a notable shift in investor sentiment. Investors have moved past the fear that often triggers panic selling.

尽管这两个指数有所不同，但两者都证实了投资者情绪的显着转变。投资者已经摆脱了经常触发恐慌销售的担心。

This neutral or greedy mindset lays the groundwork for further optimism. If it continues, the market may reach a state of extreme greed before any major correction occurs.

这种中立或贪婪的心态为进一步的乐观奠定了基础。如果继续进行，市场可能会在任何重大更正之前达到极端贪婪的状态。

This sentiment shift has led to five divergence signals that support the potential continuation of the recovery for both Bitcoin and altcoins.

这种情绪转变导致了五个不同的信号，这些信号支持比特币和山寨币的恢复潜力。

Bitcoin Accumulation Spreads From Large to Smaller Wallets, Positive Outlook

比特币的积累从大钱包扩散到较小的钱包，前景积极

On-chain data shows that whale accumulation helped Bitcoin hold above $93,000 in the final week of April.

链上的数据表明，鲸鱼的积累帮助比特币在4月的最后一周持有超过93,000美元。

A chart from Glassnode highlights a clear transition from a distribution phase (marked in red) to an accumulation phase (marked in green) during April. This timing coincides with Bitcoin’s rebound from its monthly low.

玻璃节点的图表突出显示了四月期间从分布阶段（以红色标记）到累积阶段（以绿色标记）的清晰过渡。这个时机与比特币从每月低点起的反弹相吻合。

Specifically, Bitcoin whales—wallets holding over 10,000 BTC—have been accumulating at nearly perfect levels. Their Trend Accumulation Score is around 0.9.

具体来说，比特币鲸（持有超过10,000 BTC）的WALLES已在几乎完美的水平上积累。他们的趋势积累得分约为0.9。

Following the whales, wallets with 1,000 to 10,000 BTC gradually increased their accumulation score in the second half of April. Their score reached 0.7, as seen by the chart’s color shift from yellow to blue. Other wallet tiers also show signs of accumulation, reflecting changing sentiment among smaller whales.

捕鲸之后，1,000至10,000 BTC的钱包在4月下半年逐渐提高了其积累得分。他们的分数达到了0.7，如图表从黄色到蓝色的颜色转移所见。其他钱包层也显示出积累的迹象，反映了较小的鲸鱼之间的情绪变化。

“So far, large players have been buying into this rally,” Glassnode explained.

“到目前为止，大型球员一直在购买这一集会，” GlassNode解释说。

Moreover, a recent report by BeInCrypto highlights that Bitcoin ETFs experienced $2.68 billion in inflows last week. These ETFs have seen five consecutive days of positive inflows. These metrics attest to the returning demand and lay the foundation for continued price gains.

此外，Beincrypto最近的一份报告强调，比特币ETF上周经历了26.8亿美元的流入。这些ETF已经连续五天出现了阳性流入。这些指标证明了返回需求，并为持续价格上涨奠定了基础。

Fidelity and ARK Invest Update Bitcoin Price Forecasts

富达和方舟投资更新比特币价格预测

Fidelity Digital Assets, a branch of the $5.8 trillion asset management giant Fidelity Investments, reports that Bitcoin supply on exchanges has dropped to its lowest level since 2018, with only about 2.6 million BTC remaining.

Fidelity Digital Assets是5.8万亿美元资产管理巨头富达投资的分支机构，报道说，自2018年以来，交易所的比特币供应已下降到其最低水平，剩下约260万BTC。

Furthermore, Fidelity stated that more than 425,000 BTC have left exchanges since November 2024. Public companies have added nearly 350,000 BTC since the US election and are buying over 30,000 BTC monthly in 2025. Fidelity expects this trend to continue.

此外，富达说，自2024年11月以来，超过425,000个BTC就离开了交流。自美国大选以来，上市公司已增加了近35万BTC，并且在2025年每月购买30,000多个BTC。Fidelity预计这一趋势将继续。

“We have seen Bitcoin supply on exchanges dropping due to public company purchases—something we anticipate accelerating in the near future,” said Fidelity Digital Assets.

菲德尔数字资产说：“由于上市公司的购买，我们已经看到交易所下降的比特币供应 - 我们预计在不久的将来会加速。”

Meanwhile, ARK Invest has updated its Bitcoin price projection in the Big Ideas 2025 report. Under its most bullish scenario, Bitcoin could reach $2.4 million by 2030—a far cry from its previous forecast of $1.5 million.

同时，ARK Invest在2025年的Big Ideas Report中更新了其比特币价格预测。在最看涨的情况下，比特币到2030年可能达到240万美元，这与先前的150万美元的预测相去甚远。

This projection relies on several factors: increasing institutional investment, the possibility of nations treating Bitcoin as a strategic reserve asset, and its growing role in decentralized finance.

这一预测依赖于几个因素：增加机构投资，国家将比特币视为战略储备资产的可能性以及其在分散财务中的作用日益增长。

While fund managers like Fidelity and ARK Invest have a positive outlook for April, some retail investors are beginning to express caution. The idea of “sell in May” is starting to surface, reflecting concern amid unpredictable macroeconomic factors, such as tariffs and interest rate shifts, that could strongly impact the market in the near future.

尽管Fidelity和Ark Invest等基金经理对四月有积极的看法，但一些散户投资者开始谨慎行事。 “五月份销售”的想法开始浮出水面，这反映了不可预测的宏观经济因素（例如关税和利率变化）的关注，这可能会在不久的将来对市场强烈影响。