比特币（BTC）在周日飙升至107,000美元，然后迅速回溯

比特币（BTC）在周日飙升至107,000美元，随后迅速回顾，震撼投资者信心并引发整个市场的全新波动。

Bitcoin price is hanging onto a crucial support level as bulls try to defend the $100,000 zone. After a sharp pullback on Sunday, which saw BTC fail to break out cleanly and instead return to familiar price territory, investors are left juggling optimism and caution.

当公牛试图捍卫100,000美元的区域时，比特币价格正挂在关键的支持水平上。在周日的急剧下降之后，BTC无法干净利落，而回到熟悉的价格领域之后，投资者感到乐观和谨慎。

As the market digests this latest chapter, on-chain data provides an important angle. According to CryptoQuant, Long-Term Holders (defined as wallets holding Bitcoin for 18 months to 3 years) have collectively decreased their supply by over 2 million BTC since November 2023. This massive distribution wave suggests long-term participants have been gradually taking profits throughout the year as prices climbed to new highs. While this doesn’t necessarily spell doom and could be related to a shift in investment strategy, it highlights the need for strong demand from new entrants, such as institutions, to absorb the selling pressure.

随着市场消化这一最新章节，链上的数据提供了重要的角度。据隐性股权，自2023年11月以来，长期持有人（定义为持有比特币的钱包持有18个月至3年）已将其供应量超过200万BTC。这种庞大的分销浪潮表明，随着价格攀升，长期参与者在全年逐渐获得利润。尽管这不一定是厄运，并且可能与投资策略的转变有关，但它强调了新进入者（例如机构）对吸收销售压力的强劲需求的需求。

With Bitcoin price now coiling above $100K with major resistance pending near ATH, the next decisive move could set the tone for Bitcoin’s trajectory heading into the summer.

随着比特币的价格现在盘旋在$ 10万美元以上，在ATH附近取得了重大阻力，下一个决定性的举动可能会为比特币的轨迹前进到夏天。

Long-Term Holders Step Back As Bitcoin Fights For Momentum

长期持有人退后一步，比特币争取动力

Bitcoin is at a make-or-break level as bulls aim to defend the crucial $100,000 support zone. Following Sunday’s failed breakout at $107,000 and subsequent pullback into familiar territory, investors are left juggling optimism and caution.

比特币处于制造或破产水平，因为公牛队的目标是捍卫至关重要的100,000美元的支持区。在周日失败的突破损失为107,000美元，随后回溯到熟悉的领土后，投资者感到乐观和谨慎。

Some analysts, like Point and Figure, see this as a normal consolidation before the next leg up, especially with the 200-day SMA at $92,994 and 200-day EMA at $88,664 still providing support. Others, like Cantering Clark, fear a deeper retracement may be unfolding if the $100K floor is lost.

一些分析师（例如Point and Digut）将其视为下一条腿之前的正常合并，尤其是200天的SMA为92,994美元，EMA为200天的EMA，仍为88,664美元，仍提供支持。其他人，例如捕食克拉克，担心如果损失了10万美元的地板，可能会进行更深入的回溯。

The market also faces clear resistance between $105K and the all-time high near $109K—a liquidity zone that could trigger aggressive buying if broken. However, the recent rejection suggests sellers still hold influence at higher levels, and we could see increased short-term volatility as the tug-of-war between bulls and bears intensifies.

该市场还面临着明显的抵抗力，在10.5万美元之间，有史以来高达10.9万美元，这是一个流动性区域，如果破损，可能会触发积极的购买。但是，最近的拒绝表明，随着公牛与熊之间的拔河加剧，卖家仍然在较高水平上具有更高的影响力，我们可以看到短期波动的增加。

Adding to this uncertainty is long-term holder behavior. Analyst Axel Adler has revealed that since November 2023, wallets holding BTC between 18 months and 3 years have offloaded over 2 million BTC—roughly $138 billion in value. This massive distribution wave likely fueled much of the recent rally, but it also raises concerns. Adler notes that this cohort still holds about 500,000 BTC that could be sold later this year, potentially adding pressure during moments of weakness.

增加这种不确定性是长期持有人的行为。分析师阿克塞尔·阿德勒（Axel Adler）透露，自2023年11月以来，持有BTC的钱包在18个月至3年之间的钱包已经卸载了超过200万BTC，价值1380亿美元。这一巨大的分配波可能助长了最近的大部分集会，但也引起了人们的关注。阿德勒（Adler）指出，该队列仍然拥有约500,000 BTC，可以在今年晚些时候出售，并可能在弱点时增加压力。

While institutional demand might help absorb some of this future supply, with the corporate sector showing renewed interest, the broader market should remain cautious. As price consolidates, investor sentiment hangs in the balance. Whether bulls reclaim higher levels or a deeper correction unfolds will depend on how Bitcoin responds to the current stress test at $100K.

尽管机构需求可能有助于吸收未来的一些供应，但公司部门表现出了新的利益，但更广泛的市场应该保持谨慎。随着价格合并，投资者情绪悬而未决。公牛是否收回较高的水平或更深层次的校正取决于比特币对当前压力测试的反应方式为10万美元。

Price Action Details: Bulls Attempt To Reclaim Momentum

价格动作细节：公牛试图恢复动力

Bitcoin is showing signs of renewed strength as it trades at $105,389, attempting to break above recent resistance near the $106K–$107K zone. This level has capped previous rallies, and reclaiming it would signal a bullish continuation toward all-time highs. The price has successfully defended the $100K psychological support, which now acts as a strong demand zone, reinforced by the 200-day SMA currently around $92,994 and the 200-day EMA near $88,664.

比特币的迹象表现出了新的强度迹象，因为它的交易价格为105,389美元，试图超越最近的抵抗力，接近106K $ 107K $ 107K的区域。这个水平限制了以前的集会，并收回它将表明看涨持续到历史最高水平。该价格已成功地为10万美元的心理支持辩护，该支持现在是一个强大的需求区，目前为200天的SMA加强了目前约92,994美元的SMA，而200天EMA接近88,664美元。

Volume appears to be tapering off slightly compared to the surge earlier this month, suggesting some hesitation among bulls. However, the structure remains intact: a strong breakout from April lows has created a steep and well-defined uptrend. The consolidation just below resistance could form a bullish flag if the $107K ceiling is broken with strong volume.

与本月早些时候的激增相比，数量似乎略有变化，这表明公牛之间有些犹豫。但是，该结构仍然完好无损：四月低点的强烈突破产生了陡峭且定义明确的上升趋势。如果$ 107K的天花板损坏了，则在电阻下方的合并可能会形成一个看涨的旗帜。

A failed attempt to hold above $103,600 could invite another retest of the $100K support, where bulls must hold the line to prevent deeper retracements. On the upside, clearing $107K opens the path to $109K and into price discovery. This week’s close will be critical—a strong candle above $106K could set the tone for the next macro leg higher.

持有超过$ 103,600的失败尝试可能会邀请另一次重新测试10万美元的支持，公牛必须持有这条线以防止更深的回购。从好的方面来说，清算$ 107K的道路通往$ 109K并进入价格发现。本周的结束将是至关重要的 - 高于$ 106K的强大蜡烛可以为下一个宏观腿较高的蜡烛定下基调。