比特币（BTC）价格从最近的高点回收，测试需求接近100,000美元

比特币从最近的105,000美元的高点撤回后，比特币的交易幅度高于100,000美元。虽然回顾看起来很健康，但市场情绪开始破裂。

Bitcoin (BTC) is testing demand at a key level as the market cools off following a strong multi-week rally that saw prices add over 40% since April 9th’s lows.

比特币（BTC）正在关键水平测试需求，因为在多周的强大集会之后，市场降温，自4月9日的低点以来，价格却增加了40％以上。

Following a surge that saw BTC set new highs at $105K, the market is now consolidating as investors await signs of continuation or a deeper pullback. For now, the structure remains bullish but volatility is to be expected.

随着BTC的激增，BTC将新高点定为10.5万美元，随着投资者在等待延续或更深层次回调的迹象时，市场正在巩固。目前，结构仍然看涨，但可以预期波动。

Top analyst Axel Adler shared valuable on-chain insights via X, highlighting that Bitcoin is trading at around $100K while its realized price—an indicator of the average price at which all coins last moved—sits at approximately $45,000 and continues to rise.

顶级分析师阿克塞尔·阿德勒（Axel Adler）通过X分享了有价值的链洞见，这强调了比特币的交易价格约为10万美元，而其实现的价格（这是所有硬币上次移动的平均价格的指标）的价格约为45,000美元，并继续上涨。

This consistent upward movement in realized price suggests that the market is still in an accumulation phase and isn’t yet at an overheated point.

实现价格的这种一致的向上移动表明，市场仍处于累积阶段，尚未处于过热的位置。

According to CryptoQuant, daily Realized Profit (RP) yield ranges from 0.10% to 0.23%, translating to an impressive 36–85% annualized yield. The 30-day simple moving average of RP yield sits around 0.10%, or 35–40% annualized, indicating sustained profit-taking but not yet at overheated levels.

根据CryptoQuant的说法，每日实现的利润（RP）收益率在0.10％至0.23％之间，转化为36％至85％的年度收益率。 RP收益率的30天简单移动平均值为0.10％，即年龄为35–40％，表明持续的利润率，但尚未在过热水平下。

Overall, these figures indicate a healthy market environment—profits are being realized, but not at levels that suggest excessive euphoria or speculative overheating.

总体而言，这些数字表明了一个健康的市场环境 - 正在实现生产组织，但并未达到表明过度欣快感或投机性过热的水平。

Despite the bullish backdrop, opinions among analysts remain divided. Some anticipate a major breakout once BTC confirms support above $100K, setting up a continuation toward new highs.

尽管看涨了背景，但分析师之间的意见仍然分歧。一旦BTC确认支持超过$ 10万美元，有些人预计将会发生重大突破，从而延续了新的高点。

However, other market participants believe that a correction is due to reset positioning and fatigue. They suggest that a deeper pullback below the psychological $100K mark, testing the strong $96K–$98K demand zone, might be unfolding.

但是，其他市场参与者认为，纠正是由于重置定位和疲劳。他们认为，在心理$ 10万美元的心理下方的较深回调中，测试强劲的$ 96K- $ 98K需求区，可能正在展开。

Regardless of the short-term outlook, the current data signals that Bitcoin is remaining in a sustainable bull phase driven by organic demand and strengthening fundamentals. As long as BTC manages to hold above the $100K zone and realized metrics remain strong, the path toward new highs remains viable, even if short-term volatility persists.

无论短期前景如何，当前的数据信号表明比特币仍处于可持续的牛相中，这是由有机需求和加强基本面驱动的。只要BTC设法超过$ 100K的区域并实现的指标仍然很强大，即使短期波动率仍然存在，通往新高高的道路仍然可行。