比特币（BTC）的价格飙升至新历史最高高点接近$ 109,500

比特币（BTC）的价格飙升至本周的新历史高度接近109,500美元，这是在ETF流入，改善监管情绪和新机构需求的推动下。此举标志着每日3％的收益急剧，将年度逐年收益提高到16％以上。

Bitcoin (BTC) price surged to a new all-time high of $109,500 on Thursday, fueled by new data that showed the token’s realized price fell below its spot value.

比特币（BTC）的价格飙升至周四的新历史最高点109,500美元，这是新数据的推动力，显示令牌的实现价格低于其现货价值。

Bitcoin price analysis: BTC drops below $107,000 as profit-takers emerge

比特币价格分析：随着获利者的出现，BTC跌至107,000美元以下

Bitcoin price is now trading in a crucial decision zone after a sharp drop from the new all-time high. The price action also saw a strong build-up in volume, which could be a sign of a local top.

比特币价格从新的历史最高水平急剧下降后，现在在关键决策区进行了交易。价格动作也有很强的数量积累，这可能是当地顶部的标志。

After a strong close above $107,000, the immediate resistance is at $113,450. The price level saw several attempts by Bitcoin to pierce through it over the past three sessions, with the cryptocurrency failing to close above it. The lack of follow-through above this resistance could be due to sellers, likely early ETF entrants and profit-taking whales.

在超过107,000美元以上的稳定关闭之后，即时阻力为113,450美元。价格水平看到了比特币在过去三个会议上进行了几次尝试，而加密货币未能在其上方关闭。超出这种抵抗力的后续行动可能是由于卖方，可能是早期的ETF参赛者和获利鲸鱼所致。

Volume data shows high activity during the breakout and subsequent pullbacks, confirming the breakout strength and the distribution pressure. While this volume does not yet indicate capitulation, it does suggest a possible local top forming unless bulls can claim and hold above $113,459. Flipping it would give BTC price a chance to target the resistance at $121,700, close to the 0.786 Fib level.

音量数据显示在突破和随后的回调期间的活动较高，从而确认了突破强度和分布压力。尽管该卷尚未表明投降，但它确实表明可能是当地的最高成型，除非公牛可以要求并持有以上$ 113,459。翻转它将使BTC价格有机会以121,700美元的价格将电阻定位，接近0.786的FIB水平。

On the downside, the $101,900 level remains the next strong support. It acted as resistance during the early May push and has since flipped into a critical zone of interest. A close below this mark could trigger a deeper retracement, targeting the $94,700 support, also aligned with the 0.236 retracement.

不利的一面是，$ 101,900的水平仍然是下一个强大的支持。它在5月初的推动下充当阻力，此后已转变为关键的感兴趣区域。该标记下方的近距离可能会触发更深层次的回溯，该反曲针对$ 94,700的支撑，也与0.236的回撤保持一致。

The daily RSI remains in overbought territory, ranging above 72. This level usually signals exhaustion, especially when combined with stalled momentum near resistance.

每日RSI仍处于超购买领土上，范围以上72。这个水平通常会疲惫，尤其是在阻力附近停滞不前的动量时。

Unless bulls manage to close above $107,000, the current setup may be evolving into a broader consolidation. For now, the market stands at a key inflection point between trend continuation and local correction.

除非公牛设法超过107,000美元，否则当前的设置可能会变成更广泛的合并。目前，市场位于趋势延续和局部校正之间的关键拐点。

Bitcoin realized cap nears $1 trillion as on-chain data shows new trends

由于链数据显示了新趋势，比特币实现了上限接近1万亿美元

Bitcoin’s new all-time high also coincides with one of the most significant on-chain shifts in its history—its Realized Cap is now closing in on the $1 trillion mark. According to Glassnode, it took just two years to move from $1 million to $1 billion in Realized Cap between 2011 and 2013, but nearly six years to climb from $100 billion to $1 billion.

比特币的新历史最高水平也与其历史上最重要的链上转变之一相吻合 - 它已经意识到的CAP现在正在以1万亿美元的成绩结束。根据GlassNode的数据，在2011年至2013年期间，只有两年的时间从​​100万美元转移到10亿美元，但将近六年的时间从​​1000亿美元攀升至10亿美元。

This deceleration is part of Bitcoin’s evolution from a speculative asset into a capital-heavy, institutionally anchored network.

这种减速是比特币从投机资产发展为资本较重的机构锚固网络的一部分。

The MVRV ratio—used to assess unrealized profit—has risen sharply since the $74,000 local low. Glassnode shared in an X post that aggregate MVRV has climbed from 1.74 to 2.33, while short-term holders flipped from a -18% loss (0.82) to a +13% gain (1.13). Long-term holders also saw their MVRV increase from 2.91 to 3.30.

自从74,000美元的当地低点以来，MVRV比率（用于评估未实现的利润）急剧上升。 GlassNode在X帖子中共享，该X柱汇总MVRV已从1.74升至2.33，而短期持有人则从-18％的损失（0.82）升至 +13％的增益（1.13）。长期持有人还看到他们的MVRV从2.91增加到3.30。

The rise in unrealized profit has boosted investor confidence while limiting sell pressure, reinforcing the sustainability of Bitcoin’s uptrend.

未实现的利润的上升增强了投资者的信心，同时限制了销售压力，从而增强了比特币上升趋势的可持续性。

However, the capital fueling this move is more selective than previous cycles. CoinShares data shows that digital asset fund inflows declined for the third consecutive week, but Bitcoin retained the lion’s share. This divergence confirms that institutional capital isn’t leaving—it’s concentrating. BTC remains the only asset consistently attracting fresh inflows, while altcoins are losing favor in the face of uncertain macro conditions.

但是，与以前的周期相比，这一举动的资本更具选择性。 CoinShares数据显示，数字资产基金的流入连续第三周下降，但比特币保留了大狮的份额。这种差异证实，机构资本没有离开，这是集中精力的。 BTC仍然是唯一吸引新鲜流入的资产，而面对不确定的宏观条件，Altcoins失去了青睐。

Together, the data shows a maturing asset. No longer driven by hype cycles or shallow retail demand, Bitcoin’s rise is founded on patient capital, real conviction, and long-term holder dominance.

在一起，数据显示了一个成熟的资产。比特币的上升不再受到炒作周期或浅零售需求的驱动，建立在患者资本，真实的信念和长期持有人的主导地位上。