比特币（BTC）价格交易高于历史高峰

比特币再次超过了历史高峰，仅在几个小时前就超过了$ 110,000的马克。突破的信号是BTC的强烈看涨势头

Bitcoin (BTC) price is trading above all-time highs once again, having surged past the $110,000 mark just hours ago. The breakout signals strong bullish momentum as BTC enters a fresh price discovery phase. Investor sentiment remains upbeat, with many analysts speculating on how far this rally could extend. While some foresee an extended bull run fueled by macro trends and institutional flows, others caution that overheated levels could trigger sharp pullbacks.

比特币（BTC）的价格再次超过了历史最高高点，仅在几个小时前就超过了110,000美元。当BTC进入新鲜的价格发现阶段时，突破的表明强烈看涨势头。投资者的情绪保持乐观，许多分析师猜测这次集会可以延长多远。尽管有些人预见到宏观趋势和机构流动的推动力，但另一些人警告说，过热的水平可能会引发急剧的回调。

One critical piece of data comes from CryptoQuant: since the collapse of Luna in 2022, average weekly trading volumes for the BTC/USD pair on centralized exchanges (CEXs) have sharply declined. From a peak of 2.9 million BTC traded weekly in July 2022, volumes have fallen to just 426,000 BTC as of yesterday’s session.

一个关键的数据来自加密量：自2022年露娜（Luna）崩溃以来，集中式交易所（CEX）的BTC/USD对平均每周交易量急剧下降。从2022年7月，BTC每周交易的290万最高峰值，截至昨天的会议截止日期为426,000 BTC。

This drop in exchange activity suggests two key dynamics. First, a reduced supply of BTC on exchanges is often linked to long-term holding behavior, typically viewed as a bullish signal. Second, lower sell-side liquidity may contribute to increased volatility, especially in the face of rapid price movements.

交换活动中的这种下降提出了两个关键动态。首先，交流中BTC的供应减少通常与长期保持行为有关，通常被视为看涨信号。其次，较低的卖方流动性可能导致波动率提高，尤其是面对价格快速变动。

As Bitcoin continues its upward march, the absence of significant volume on CEXs could either accelerate gains or magnify corrections depending on investor reaction in the days ahead.

随着比特币继续向上游行，根据未来几天的投资者反应，CEXs缺乏大量的CEX可能会加速或放大校正。

Bitcoin Low Exchange Volume Adds Fuel To Bullish Outlook

比特币低交换量为看涨前景增添了燃料

Bitcoin is showing resilience in the face of macroeconomic headwinds. While U.S. equities dipped yesterday due to rising yields in Treasury Bonds, Bitcoin climbed steadily, signaling that market participants may be rotating capital into hard assets amid uncertainty. This relative strength highlights BTC’s appeal as a hedge, particularly when traditional markets waver.

面对宏观经济的逆风，比特币表现出弹性。昨天，由于国库券的收益率上升，美国的股票下降了，但比特币稳步上升，这表明由于不确定性，市场参与者可能正在将资本旋转成硬资产。这种相对的力量强调了BTC作为对冲的吸引力，尤其是传统市场动摇时。

However, despite the bullish momentum, a key hurdle remains at the $115,000 level. Breaking above this resistance would confirm the next phase of the rally and open the door to higher price discovery. Conversely, a failure to hold above current levels around $110,000 could invite a swift correction back to previous support zones. Traders are watching closely, as volatility could rise quickly.

然而，尽管有看涨的势头，但钥匙障碍仍然保持在115,000美元的水平。超越这种阻力将确认集会的下一阶段，并为更高的价格发现打开大门。相反，未能使目前的水平不超过$ 110,000，可能会迅速纠正以前的支持区。交易者正在密切关注，因为波动可能会迅速上升。

Top analyst Axel Adler provides further context to the broader trend. According to Adler, after the Luna collapse in 2022, weekly trading volumes for the BTC/USD pair on centralized exchanges (CEXs) have plummeted—diminishing from 2.9 million BTC in July 2022 to a mere 426,000 BTC this week.

顶级分析师Axel Adler为更广泛的趋势提供了进一步的背景。据阿德勒（Adler）称，在2022年露娜（Luna）倒闭之后，BTC/美元对集中式交易所（CEXS）的每周交易量暴跌 - 从2022年7月的290万BTC到本周的426,000 BTC。

This sustained long-term decline in exchange activity is seen as a bullish structural shift. It signals a move toward long-term holding behavior and a tightening of the BTC supply that is available for trading. With fewer coins circulating on exchanges, sell-side pressure lessens, creating a more supportive backdrop for the continuation of the current upward price trend.

交换活动中这种长期持续的长期下降被视为看涨的结构转变。它标志着朝着长期持有行为和可用于交易的BTC供应收紧的迈进。由于交易所流通的硬币减少，卖方压力减轻了，从而为当前上涨趋势的延续创造了更具支持性的背景。

BTC Price Action Shows Strong Momentum

BTC价格动作显示出强大的动力

Bitcoin is currently trading at $110,855 after briefly touching $111,163, showcasing strong upward momentum and the continuation of the bullish trend. On the 4-hour chart, BTC has consistently posted higher lows and higher highs since bouncing off the $100K support level on May 15. The recent breakout above the $108K resistance level triggered a surge in buying volume, propelling BTC into uncharted territory.

比特币短暂触及111,163美元后，比特币的交易价格为110,855美元，展示了强劲的向上势头和看涨趋势的延续。在4小时的图表上，自5月15日以10万美元的支持水平弹跳以来，BTC一直在较高的低点和更高的高点。最近的突破超过$ 108K的阻力水平引发了购买量的激增，将BTC推向了未知领域。

Key technical indicators support the bullish bias. The 200-period simple moving average (SMA) at $98,024 and the 200-period exponential moving average (EMA) at $98,826 are trending upward, which confirms strong underlying trend support. Volume spikes in the last two sessions suggest strong conviction from buyers.

关键技术指标支持看涨的偏见。 200周期的简单移动平均线（SMA）为98,024美元，而200个周期指数的移动平均线（EMA）为98,826美元，这证实了强大的基本趋势支持。在过去的两个会议上，量峰值表明买家的坚定信念。

However, the price is beginning to show signs of potential exhaustion. The latest candles exhibit long wicks on the upper side, which could indicate selling pressure. If BTC fails to maintain momentum, we could see a retest of the $108K breakout level. Immediate support lies around $103,600, with $100K serving as the psychological floor.

但是，价格开始显示出潜在疲惫的迹象。最新的蜡烛在上侧显示长灯芯，这可能表明销售压力。如果BTC无法保持动力，我们可以看到$ 108K突破水平的重新测试。立即支持约为103,600美元，$ 10万美元作为心理场所。