比特币看到了急剧的回调

在过去的几天中，比特币在过去几天中看到了急剧的回调，在四天前将历史最高的111900美元的新鲜高点设置为110000美元以下。

Bitcoin (BTC) saw a sharp pullback in the past few days, dropping below the $110,000 level after setting a fresh all-time high of $111,900 just four days ago. The correction saw the price fall as low as $107,500 before rebounding slightly, raising doubts among investors about the strength of the recent rally.

在过去的几天中，比特币（BTC）在过去的几天中看到了急剧的回调，在四天前将新鲜的历史最高点111,900美元设置为111,900美元之后，跌至110,000美元以下。更正的价格在略微反弹之前，价格低至107,500美元，这使投资者对最近的集会的实力产生了疑问。

However, some analysts argue that the bullish structure is still intact for Bitcoin, even with this retracement. Particularly, crypto analyst Colin pointed to an interesting macroeconomic indicator called the Global M2 Money Supply as a reason for continued optimism.

但是，一些分析人士认为，即使有此回溯，看涨的结构仍然是完整的。特别是，加密分析师Colin指出了一个有趣的宏观经济指标，称为全球M2货币供应，是持续乐观的原因。

Global M2 Money Supply Still Rising, Says Analyst

分析师说，全球M2货币供应仍在上升。

According to an analysis posted by crypto analyst Colin on X (formerly Twitter), Bitcoin continues to track the global M2 money supply with accuracy offset by an 82-day lag.

根据加密分析师科林（Colin）在X（以前为Twitter）上发布的分析，比特币继续以82天的滞后准确抵消了全球M2货币供应。

The chart highlights that the global M2 aggregate, which reflects the total liquidity circulating in the world’s largest economies, has recently hit a new all-time high.

该图表凸显了全球M2总计反映了全球最大经济体中流动性的总流动性，最近已经达到了新的历史最高水平。

Historically, Bitcoin has closely mirrored this trend with a slight delay, and Colin believes this pattern suggests there is still considerable room for the Bitcoin price to climb.

从历史上看，比特币以轻微的延迟密切反映了这一趋势，科林认为这种模式表明，比特币价格攀升仍然有很大的空间。

The correlation between the Global M2 money supply and Bitcoin’s price action is statistically significant across various time frames, with the highest correlation of 93% being observed in the 1½-year window. This strong correlation showcases that Bitcoin’s recent rally is a consequence of deeper monetary expansion trends.

在各个时间范围内，全球M2货币供应与比特币的价格行动之间的相关性在统计学上具有统计学意义，在1。5年的窗口中观察到93％的相关性最高。这种强烈的相关性表明，比特币最近的集会是货币扩张趋势更深的结果。

Keeping this in mind, the interpretation is that Bitcoin is undergoing a healthy retracement within a broader upward trend, especially when considering the broader context of the global money supply. The pullback to $107,500 doesn’t invalidate the bullish setup, and Bitcoin’s ability to hold above the previous consolidation level between $102,000 and $104,000 is also a positive note.

牢记这一点，解释是比特币正在更广泛的上升趋势中进行健康的回溯，尤其是在考虑全球货币供应的更广泛背景时。回调至107,500美元并没有使看涨的设置无效，并且比特币能够超过以前的合并水平在102,000美元至104,000美元之间的能力也是一个积极的说明。

Social Sentiment Still Skeptical, But Data Speaks Louder

社交情绪仍然持怀疑态度，但数据更大

Despite the new $111,900 all-time high and Bitcoin bulls successfully holding its breakout level as support, social sentiment is still somewhat conflicted.

尽管有新的$ 111,900历史最高水平和比特币公牛成功地保持了其突破水平，但社交情绪仍然有些矛盾。

This was also noted by Colin, who pointed out the irony of many market participants doubting the sustainability of the breakout despite the strength of the underlying data.

科林还指出，这也指出了许多市场参与者的讽刺意味，尽管基础数据的实力，但仍怀疑突破的可持续性。

Colin also referenced the CBBI (Crypto Bull Run Index), which currently reads 79, still comfortably below the overheated threshold. This indicates that, by normal standards, the market is far from its euphoric peak, and there’s still a good amount of upside left in the cycle.

科林还提到了CBBI（Crypto Bull Run Index），该指数目前为79，仍然低于过热阈值。这表明，按照正常的标准，市场远非其欣快的山峰，并且在周期中还有很多上升空间。

The chart provided by Colin highlights a projected upward trajectory that would see Bitcoin breaking above current levels toward $130,000 and beyond if the M2 correlation continues to play out.

Colin提供的图表突出显示了一个预测的向上轨迹，如果M2相关性继续发挥作用，则将比特币突破当前水平及130,000美元及以上。

Interestingly, Colin’s analysis of the Global M2 supply and its relation to Bitcoin has been spot on in predicting Bitcoin’s rally. In April, when Bitcoin dropped to as low as $74,000, he projected that May would mark the next major breakout period for Bitcoin’s price, and this forecast has materialized exactly as he anticipated.

有趣的是，Colin对全球M2供应的分析及其与比特币的关系在预测比特币集会方面已经存在。 4月，当比特币下降到74,000美元时，他预计可能标志着比特币价格的下一个重大突破期，这一预测已按照他预期的方式实现。

At the time of writing, BTC is trading at $109,670, up by 2% in the past 24 hours.

在撰写本文时，BTC的交易价格为109,670美元，在过去24小时内增长了2％。