比特币（BTC）面对销售压力，斑点数量增长3亿美元在3天内下降了3亿美元

在美国国内生产总值（GDP）数据显示，比特币（BTC）的价格在4月30日下跌低于93,000美元。

The U.S. Gross Domestic Product (GDP) contracted by 0.3% in Q1, according to the "Preliminary" reading from the Bureau of Economic Analysis (BEA). The reading came in lower than the +0.3% that economists had anticipated, signaling a slowdown in the world's largest economy.

根据经济分析局（BEA）的“初步”阅读，美国国内生产总值（GDP）在第1季度收缩了0.3％。阅读量低于经济学家预期的 +0.3％，这表明世界上最大的经济体的放缓。

The GDP Price Index (PCE) also known as inflation, came in at 3.7%, the highest since August 2023. Economists were expecting a reading of 2.3%, a slight increase from Q4 2024’s level of 2.2%.

GDP价格指数（PCE）也称为通货膨胀，为3.7％，是2023年8月以来最高的。经济学家预计读数为2.3％，比第4季度2024年第四季度的2.2％略有增加。

After the bleak GDP report, Polymarket odds of a recession in 2025 rose to 67%. Moreover, the University of Michigan’s gauge of consumer confidence dropped to 50 in April, reaching its lowest point since May 2020.

在荒凉的GDP报告后，2025年经济衰退的多个赔率上升到67％。此外，密歇根大学的消费者信心量表在4月下降到50，达到了2020年5月以来的最低点。

The report also showed that PCE inflation, a preferred measure used by the Federal Reserve, came in at 2.3% in March. Economists had been expecting a reading of 2.2%, and it follows a reading of 2.5% in February.

该报告还表明，美联储使用的首选措施PCE通货膨胀在3月份为2.3％。经济学家一直期望阅读2.2％，并且在2月份的阅读量为2.5％。

Core PCE, which excludes volatile food and energy prices, dropped to 2.6% in March. Economists had anticipated this reading. However, February’s Core PCE was revised from 2.8% to 3.0%.

不包括波动性食品和能源价格的核心PCE在3月下降到2.6％。经济学家预料到了这篇阅读。但是，2月的核心PCE从2.8％修订至3.0％。

Is short-term bearish, long-term bullish for Bitcoin?

短期看跌，长期看涨比特币吗？

During the 2020 COVID-19-induced market crash, BTC initially followed traditional markets before rallying over 300% by year-end as the global M2 money supply increased, reflecting its appeal during periods of monetary expansion.

在2020年Covid-19引起的市场崩溃期间，BTC最初跟随传统市场，随着全球M2货币供应的增加，年终将超过300％集结，这反映了其在货币扩张期间的吸引力。

However, stagflation, highlighted by the -0.3% GDP contraction in Q1 2025 and a 3.7% GDP Price Index, poses short-term risks for BTC. High inflation usually deters retail crypto investment, as seen in 2022 when BTC fell 60% amid Federal Reserve interest rate hikes.

然而，陷阱由Q1 2025的-0.3％GDP收缩和3.7％GDP价格指数强调，对BTC构成了短期风险。高通货膨胀通常会阻止零售加密投资，如2022年，当时BTC在美联储的利率上升时下跌60％。

March 2025 PCE inflation data suggests cooling price pressures, which could reduce urgency in Fed rate hikes and support Bitcoin. But February’s upward revisions (headline PCE from 2.5% to 2.7%, Core PCE to 3.0%) keep the outlook mixed.

2025年3月，PCE通货膨胀数据表明，冷却价格压力可能会减少美联储加息和支持比特币的紧迫性。但是2月的上升修订（头条新闻从2.5％到2.7％，核心PCE至3.0％）使外观混合在一起。

Bitcoin faces $300 million in spot selling pressure

比特币面临3亿美元的现货销售压力

Bitcoin’s spot volume delta dipped over $300 million over the past three days on April 26-29, signaling potential sell-off pressure for BTC around the $95,000 level.

比特币的现货数量达美（Delta）在4月26日至29日的过去三天中下降了超过3亿美元，这标志着BTC的潜在抛售压力约为95,000美元。

According to Glassnode's latest data, the 7-day moving average of BTC spot volume delta recorded negative flows over consecutive days. The negative inflows started to become more apparent.

根据GlassNode的最新数据，BTC斑点数量增量的7天移动平均线在连续几天内记录了负流量。负面流入变得更加明显。

The crypto analytics firm noted that the lower time frame analysis shows a steeper decline in 1-day volume delta, which measures the differential between buy and sell volume. From April 25 to 26, the 1-day volume delta dropped from $61.5 million in positive territory to $15.3 million in the red.

这家加密分析公司指出，较低的时间范围分析显示，为期1天的数量增长了1天，这衡量了买卖量之间的差异。从4月25日到26日，为期1天的数量达美航空从积极领土的6150万美元下降到红色的1530万美元。

The 3-day volume delta also shifted from $69.6 million on April 24 to $36.7 million on April 25, before sliding further into negative territory.

为期3天的数量达美航空也从4月24日的6,960万美元转移到4月25日的3670万美元，然后进一步滑入负地区。

Bitcoin sees $300 million in spot selling pressure

比特币看到3亿美元的现货销售压力

Bitcoin’s spot volume delta dipped over $300 million over the past three days, signaling potential sell-off pressure for BTC around the $95,000 level.

在过去的三天中，比特币的现货数量达美（Delta）下跌了3亿美元，这表明了BTC的潜在抛售压力约为95,000美元。

According to Glassnode's latest data, the 7-day moving average of BTC spot volume delta recorded negative flows over consecutive days. The negative inflows started to become more apparent.

根据GlassNode的最新数据，BTC斑点数量增量的7天移动平均线在连续几天内记录了负流量。负面流入变得更加明显。

The crypto analytics firm noted that the lower time frame analysis shows a steeper decline in 1-day volume delta, which measures the differential between buy and sell volume. From April 25 to 26, the 1-day volume delta dropped from $61.5 million in positive territory to $15.3 million in the red.

这家加密分析公司指出，较低的时间范围分析显示，为期1天的数量增长了1天，这衡量了买卖量之间的差异。从4月25日到26日，为期1天的数量达美航空从积极领土的6150万美元下降到红色的1530万美元。

The 3-day volume delta also shifted from $69.6 million on April 24 to $36.7 million on April 25, before sliding further into negative territory.

为期3天的数量达美航空也从4月24日的6,960万美元转移到4月25日的3670万美元，然后进一步滑入负地区。