<ul>
<li><em>比特币在最近动荡的几周内保持在 92,000 美元支撑位之上，这对多头来说是个令人鼓舞的信号。</em></li>
<li><em>市场情绪的下降反映了其他市场的持续亏损以及在线参与度的降低。</em></li>
</ul>
<p>长期来看，比特币 [BTC] 的前景依然看涨，因为价格仍处于区间震荡中。然而，Tether 的指标显示，稳定币流入交易所的情况已经枯竭。</p>
<p>交易者和投资者对进入市场持谨慎态度，这对过去几周的价格走势来说是可以理解的反应。</p>
<p>比特币的买卖压力差显示，过去两个月的买入压力有所下降。</p>
<p>市场情绪也有所减弱，在未能捍卫 11 月的涨幅后，回落至 9 月和 10 月的水平。</p>
<h2>比特币恐惧与贪婪指数降至 4 个月低点</h2>
<p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/02/PP-3-BTC-fear-greed-index.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/02/PP-3-BTC-fear-greed-index.png"/></p>
<p>来源：Alternative.me</p>
<p>比特币恐惧与贪婪指数利用价格走势、波动性、社交媒体参与度和比特币主导率等多种因素来衡量市场情绪。</p>
<p>美国总统选举后的强劲涨幅使得市场情绪飙升。</p>
<p>此前，2024 年 3 月的反弹使得该指数持续达到 80 及以上的值。这一趋势在 4 月底开始发生变化。同样，11 月的情绪上升在一个多月后开始减弱。</p>
<p>这种下降尚未完全停止。</p>
<p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/02/PP-3-BTC-price.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/02/PP-3-BTC-price.png"/></p>
<p>来源：TradingView 上的 BTC/USDT</p>
<p>周线图显示，尽管情绪波动不定，比特币仍然保持着坚定的看涨波动结构。</p>
<p>尽管美国市场的宏观经济前景令人担忧，以及某些市场的关税相关波动，比特币仍然捍卫了 92,000 美元的区间低点。</p>
<p>在接下来的几周内，价格可能会跌至 88,000 美元至 90,000 美元，但这一波动将提供一个买入机会。持有者必须不被恐慌所左右——至少，现在还不需要。</p>
<p>比特币在 2024 年并未在下行通道内整合七个月，随后却实现了 60% 的反弹，然后就止步不前。</p>
<p>或者说它确实如此，但很难确定——不过大多数链上指标并未显示出顶部已经形成。</p>
<p><em>免责声明：所提供的信息不构成财务、投资、交易或其他类型的建议，仅代表作者的观点</em></p>

GBTC

<p>比特币恐惧与贪婪指数已降至四个月来的低点，反映出市场情绪的下降和买入压力的减弱。尽管比特币价格保持在 92,000 美元的支撑位之上，但由于近期的损失，交易者对进入市场持谨慎态度。长期前景依然看涨，如果价格回调至 88,000 美元至 90,000 美元，可能会出现买入机会。该指数此前曾达到 80 以上的高点，但自四月底以来一直在下降。总体而言，尽管情绪疲软，但链上指标显示市场顶部尚未到达</p>

<ul>
<li><em>The strength of Bitcoin above the $92k support during the recent, tumultuous weeks was encouraging for the bulls.</em></li>
<li><em>The falling sentiment was a reflection of the steady losses across the rest of the market as well as online engagement.</em></li>
</ul>
<div class="lb-trans"><ul>
<li><em>比特币在最近动荡的几周内保持在 92,000 美元支撑位之上，这对多头来说是个令人鼓舞的信号。</em></li>
<li><em>市场情绪的下降反映了其他市场的持续亏损以及在线参与度的降低。</em></li>
</ul>
</div><p>The long-term Bitcoin [BTC] outlook remained bullish as the price was still within a range formation. Yet, Tether metrics showed that stablecoin inflows to exchange have dried up.</p>
<div class="lb-trans"><p>长期来看，比特币 [BTC] 的前景依然看涨，因为价格仍处于区间震荡中。然而，Tether 的指标显示，稳定币流入交易所的情况已经枯竭。</p>
</div><p>Traders and investors were hesitant to enter the market, an understandable reaction to the price action of the past few weeks.</p>
<div class="lb-trans"><p>交易者和投资者对进入市场持谨慎态度，这对过去几周的价格走势来说是可以理解的反应。</p>
</div><p>The Bitcoin buy/sell pressure delta showed a decline in buying pressure over the past two months.</p>
<div class="lb-trans"><p>比特币的买卖压力差显示，过去两个月的买入压力有所下降。</p>
</div><p>The market sentiment has also weakened, reaching September and October levels after failing to defend the November gains.</p>
<div class="lb-trans"><p>市场情绪也有所减弱，在未能捍卫 11 月的涨幅后，回落至 9 月和 10 月的水平。</p>
</div><h2>Bitcoin Fear and Greed Index falls to 4-month lows</h2>
<div class="lb-trans"><h2>比特币恐惧与贪婪指数降至 4 个月低点</h2>
</div><p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/02/PP-3-BTC-fear-greed-index.png" alt="" original-src="https://ambcrypto.com/wp-content/uploads/2025/02/PP-3-BTC-fear-greed-index.png"/></p>
<p>Source: Alternative.me</p>
<div class="lb-trans"><p>来源：Alternative.me</p>
</div><p>The Bitcoin Fear and Greed Index uses various factors such as price action, volatility, social media engagement, and BTC dominance to gauge sentiment.</p>
<div class="lb-trans"><p>比特币恐惧与贪婪指数利用价格走势、波动性、社交媒体参与度和比特币主导率等多种因素来衡量市场情绪。</p>
</div><p>The strong gains following the U.S. Presidential election saw the sentiment soar higher.</p>
<div class="lb-trans"><p>美国总统选举后的强劲涨幅使得市场情绪飙升。</p>
</div><p>Previously, the March 2024 rally saw the index reach values of 80 and higher consistently. This began to shift in late April. Similarly, the November sentiment uptick began to taper off just over a month later.</p>
<div class="lb-trans"><p>此前，2024 年 3 月的反弹使得该指数持续达到 80 及以上的值。这一趋势在 4 月底开始发生变化。同样，11 月的情绪上升在一个多月后开始减弱。</p>
</div><p>This descent has not yet fully halted.</p>
<div class="lb-trans"><p>这种下降尚未完全停止。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/02/PP-3-BTC-price.png" alt="" original-src="https://ambcrypto.com/wp-content/uploads/2025/02/PP-3-BTC-price.png"/></p>
<p>Source: BTC/USDT on TradingView</p>
<div class="lb-trans"><p>来源：TradingView 上的 BTC/USDT</p>
</div><p>The weekly chart showed that BTC has a firmly bullish swing structure despite the erratic sentiment swings.</p>
<div class="lb-trans"><p>周线图显示，尽管情绪波动不定，比特币仍然保持着坚定的看涨波动结构。</p>
</div><p>Regardless of the fearful macroeconomic outlook in the U.S. markets, and the tariff-related volatility in certain markets, Bitcoin has defended the $92k range lows.</p>
<div class="lb-trans"><p>尽管美国市场的宏观经济前景令人担忧，以及某些市场的关税相关波动，比特币仍然捍卫了 92,000 美元的区间低点。</p>
</div><p>It could dip to $88k-$90k sometime in the coming weeks, but this sweep of the range lows would present a buying opportunity. HODLers must not give in to panic — at least, not yet.</p>
<div class="lb-trans"><p>在接下来的几周内，价格可能会跌至 88,000 美元至 90,000 美元，但这一波动将提供一个买入机会。持有者必须不被恐慌所左右——至少，现在还不需要。</p>
</div><p>BTC did not consolidate within a falling channel for seven months in 2024, only to make a 60% rally and then call it quits.</p>
<div class="lb-trans"><p>比特币在 2024 年并未在下行通道内整合七个月，随后却实现了 60% 的反弹，然后就止步不前。</p>
</div><p>Or perhaps it did, it is hard to be sure- but most of the on-chain metrics do not show a top is in yet.</p>
<div class="lb-trans"><p>或者说它确实如此，但很难确定——不过大多数链上指标并未显示出顶部已经形成。</p>
</div><p><em>Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion</em></p>
<div class="lb-trans"><p><em>免责声明：所提供的信息不构成财务、投资、交易或其他类型的建议，仅代表作者的观点</em></p>
</div>

比特币恐惧与贪婪指数下降，多头退却——接下来会发生什么？