比特币接近阻力？ Stablecoin比率表明短期风险

根据链上分析公司Alphractal的最新分析，Stablecoin比率渠道正在闪烁其第一个对比特币的短期警告

On-chain analytics firm Alphractal has spotted the first short-term warning from the Stablecoin Ratio Channel in months, even as long-term indicators remain supportive of the broader Bitcoin uptrend.

在几个月内，链上分析公司的字母符号已经发现了稳定性比率渠道的第一个短期警告，即使长期指标仍然支持更广泛的比特币上币上升趋势。

This key metric tracks how capital is flowing between stablecoins and Bitcoin, offering powerful insight into market sentiment and liquidity dynamics.

该关键指标跟踪了稳定币和比特币之间的资本如何流动，从而对市场情绪和流动性动态提供了强有力的见解。

Short-Term Risk Builds Around $113K–$114K

短期风险建造约113k至11.4k美元

As noted by Alphractal, the short-term Stablecoin Ratio has entered a higher-risk zone, which historically precedes local tops or temporary pullbacks. This warning comes just as Bitcoin tests the $113,000–$114,000 resistance area, a level that could prompt increased rotations from BTC into stablecoins as traders take profits.

正如Alphractal所指出的那样，短期稳定比率进入了一个高风险区，历史上是当地上衣或临时回调之前的。此警告也出现在比特币测试113,000美元至114,000美元的电阻区域一样，当交易者获得利润时，该水平可能会促使从BTC向Stablecoins增加轮换。

A higher stablecoin ratio generally means more investors are shifting funds out of BTC, hinting at potential price pressure.

较高的稳定比率通常意味着更多的投资者将资金从BTC转移到了BTC之外，暗示了潜在的价格压力。

Long-Term Trend Remains Bullish

长期趋势仍然看涨

However, while the short-term view suggests some caution, the long-term Stablecoin Ratio Channel tells a different story. The metric is currently midway through its historical cycle, a zone that has often acted as temporary resistance during past bull markets — not as the final top.

但是，尽管短期观点暗示了一定的谨慎，但长期的稳定比率渠道讲述了一个不同的故事。该指标目前正处于其历史周期的中途，该区域在过去的牛市中经常充当暂时的抵抗，而不是最终的顶级。

According to Alphractal, in bull phases, this mid-range typically leads to healthy corrections followed by continuation. However, in bear markets, it has previously served as a distribution zone before extended declines. Right now, the long-term signal suggests Bitcoin still has room to grow — but with some volatility likely in the near term.

根据α型，在公牛阶段，这种中距离通常会导致健康的校正，然后进行延续。但是，在熊市中，它以前曾在扩展下降之前用作分销区。目前，长期信号表明比特币仍然有生长的空间 - 但在短期内可能有些波动。

Key Developments Poised to Influence the Crypto Market in the Next Days

有望在接下来的几天影响加密市场的主要发展

Conclusion

结论

In the short term, BTC may face resistance near $113K due to increasing stablecoin ratio pressures. But from a macro perspective, the bull cycle could still have legs, depending on how liquidity flows evolve. According to Alphractal, a brief correction may be necessary — but not terminal — as BTC continues to build toward its next leg higher.

在短期内，由于稳定​​比率的增加，BTC可能会面临接近113K美元的电阻。但是从宏观的角度来看，公牛循环仍然可能有腿，具体取决于流动性的发展方式。根据Alphractal的说法，由于BTC继续向下一个腿建立，可能需要进行简短的校正（但不是终端）。