<ul>
<li><em>比特币进入 Wyckoff 阶段 E，形成 “金叉”，短期目标为 125K 美元。</em></li>
<li><em>分析师预计到 8 月–9 月将达到 260K 美元，认为减少的提现活动是关键驱动因素。</em></li>
</ul>
<p>比特币 [BTC] 正式进入 Wyckoff 积累模型的阶段 E——通常以突破和强劲的向上延续为标志。</p>
<p>5 月 24 日，50 日移动平均线（MA）突破 200 日 MA，形成了日线图上备受喜爱的 “金叉”，这是一个关键的技术确认。</p>
<p>这一图表形态传统上被视为长期看涨信号，通常表明情绪的转变。</p>
<p>自然，许多交易者现在将目光投向 125K 美元——这一标记是该标记阶段内的第一个主要阻力位。</p>
<p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/05/wyckoff-BTC.jpeg?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/2025/05/wyckoff-BTC.jpeg"/></p>
<p>来源：X</p>
<p>真正的问题是——在那之后会发生什么？</p>
<h2><strong>美国参议院的加密法案可能会启动下一个市场阶段</strong></h2>
<p>根据一位备受尊敬的市场分析师的推文，比特币的下一个周期可能是分配阶段或重新积累阶段。</p>
<p>在他看来，最可能的是重新积累，特别是美国参议院即将对关键的加密立法进行投票。</p>
<p>当然，监管事件会带来波动性。但它们也可能支持机构信心，尤其是在数字资产分类的法律明确性出现时。</p>
<h2><strong>提取比特币的地址数量正在下降</strong></h2>
<p>链上指标为当前的反弹提供了动力。</p>
<p>交易所提取交易数量的下降——这一关键指标跟踪比特币转移到私人钱包的频率，表明卖压可能正在减弱。</p>
<p>随着卖压的减弱，可能会作为隐秘的看涨驱动因素，减少上方阻力并推动价格动能。</p>
<p>这一模式与分析师预计的在 260K 美元附近的分配走势相一致，假设市场供应保持受限。</p>
<p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/05/Bitcoin-Exchange-Withdrawing-Transactions-All-Exchanges.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/2025/05/Bitcoin-Exchange-Withdrawing-Transactions-All-Exchanges.png"/></p>
<p>来源：CryptoQuant</p>
<h2><strong>需要关注的政策和价格走势</strong></h2>
<p>比特币稳固地处于 Wyckoff 阶段 E，并受到 “金叉” 的支持，短期动能强劲。</p>
<p>然而，宏观条件如监管和链上趋势将决定接下来会发生什么。</p>
<p>如果市场继续，重新积累或分配将取决于投资者情绪和待决比特币法案的立法命运。</p>

GBTC

<p>比特币已进入 Wyckoff 阶段 E，日线图上出现了 “黄金交叉”，显示出看涨情绪，短期目标为 125,000 美元。分析师预测，到 8 月-9 月可能上涨至 260,000 美元，这一趋势受到提款活动减少的推动。即将出台的美国参议院加密货币立法可能会影响市场动态，存在重新积累或分配阶段的可能性。目前比特币提款的下降表明卖压减轻，支持价格动能。总体而言，宏观经济条件和监管发展将在比特币未来走势中发挥关键作用</p>

<ul>
<li><em>Bitcoin enters Wyckoff Phase E with a ‘golden cross,’ setting sights on $125K short-term.</em></li>
<li><em>Analyst eyes $260K by August–September, citing shrinking withdrawal activity as a key driver.</em></li>
</ul>
<div class="lb-trans"><ul>
<li><em>比特币进入 Wyckoff 阶段 E，形成 “金叉”，短期目标为 125K 美元。</em></li>
<li><em>分析师预计到 8 月–9 月将达到 260K 美元，认为减少的提现活动是关键驱动因素。</em></li>
</ul>
</div><p>Bitcoin [BTC] officially entered Phase E of the Wyckoff Accumulation model—typically marked by a breakout and strong upward continuation.</p>
<div class="lb-trans"><p>比特币 [BTC] 正式进入 Wyckoff 积累模型的阶段 E——通常以突破和强劲的向上延续为标志。</p>
</div><p>One key technical confirmation was witnessed on the 24th of May, when the 50-day Moving Average (MA) crossed over the 200-day MA, forming the favorite ‘golden cross’ on the daily chart.</p>
<div class="lb-trans"><p>5 月 24 日，50 日移动平均线（MA）突破 200 日 MA，形成了日线图上备受喜爱的 “金叉”，这是一个关键的技术确认。</p>
</div><p>The chart pattern is traditionally considered a bullish long-term signal. It usually indicates a shift in sentiment.</p>
<div class="lb-trans"><p>这一图表形态传统上被视为长期看涨信号，通常表明情绪的转变。</p>
</div><p>Naturally, many traders have now set their sights on the $125K mark—the first major resistance within this markup phase.</p>
<div class="lb-trans"><p>自然，许多交易者现在将目光投向 125K 美元——这一标记是该标记阶段内的第一个主要阻力位。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/05/wyckoff-BTC.jpeg" alt="" original-src="https://ambcrypto.com/wp-content/uploads/2025/05/wyckoff-BTC.jpeg"/></p>
<p>Source: X</p>
<div class="lb-trans"><p>来源：X</p>
</div><p>The real question remains—what happens beyond that?</p>
<div class="lb-trans"><p>真正的问题是——在那之后会发生什么？</p>
</div><h2><strong>U.S. Senate crypto bills could initiate the next market phase</strong></h2>
<div class="lb-trans"><h2><strong>美国参议院的加密法案可能会启动下一个市场阶段</strong></h2>
</div><p>From a highly regarded market analyst’s tweet, the next cycle for Bitcoin could either be a distribution phase or a re-accumulation phase.</p>
<div class="lb-trans"><p>根据一位备受尊敬的市场分析师的推文，比特币的下一个周期可能是分配阶段或重新积累阶段。</p>
</div><p>The likeliest, in his view, is re-accumulation, particularly with the U.S. Senate set to vote on key crypto legislation soon.</p>
<div class="lb-trans"><p>在他看来，最可能的是重新积累，特别是美国参议院即将对关键的加密立法进行投票。</p>
</div><p>Of course, regulatory events inject volatility. But they could also support institutional confidence, especially if legal clarity emerges around digital asset classifications.</p>
<div class="lb-trans"><p>当然，监管事件会带来波动性。但它们也可能支持机构信心，尤其是在数字资产分类的法律明确性出现时。</p>
</div><h2><strong>Addresses withdrawing Bitcoin are declining</strong></h2>
<div class="lb-trans"><h2><strong>提取比特币的地址数量正在下降</strong></h2>
</div><p>On-chain metrics add fuel to the current rally.</p>
<div class="lb-trans"><p>链上指标为当前的反弹提供了动力。</p>
</div><p>The declining number of Exchange Withdrawing Transactions—a key indicator tracking how often BTC is moved to private wallets, suggested selling pressure may be dwindling.</p>
<div class="lb-trans"><p>交易所提取交易数量的下降——这一关键指标跟踪比特币转移到私人钱包的频率，表明卖压可能正在减弱。</p>
</div><p>Picking up on the decline, the resulting fade in selling pressure may act as a stealthy bullish driver, reducing overhead resistance and powering price momentum.</p>
<div class="lb-trans"><p>随着卖压的减弱，可能会作为隐秘的看涨驱动因素，减少上方阻力并推动价格动能。</p>
</div><p>This pattern aligns with the analyst’s projection of a distribution move near $260K by August or September, assuming market supply remains constrained.</p>
<div class="lb-trans"><p>这一模式与分析师预计的在 260K 美元附近的分配走势相一致，假设市场供应保持受限。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/05/Bitcoin-Exchange-Withdrawing-Transactions-All-Exchanges.png" alt="" original-src="https://ambcrypto.com/wp-content/uploads/2025/05/Bitcoin-Exchange-Withdrawing-Transactions-All-Exchanges.png"/></p>
<p>Source: CryptoQuant</p>
<div class="lb-trans"><p>来源：CryptoQuant</p>
</div><h2><strong>Policies and price action to watch</strong></h2>
<div class="lb-trans"><h2><strong>需要关注的政策和价格走势</strong></h2>
</div><p>With Bitcoin firmly in Wyckoff Phase E and backed by a ‘golden cross,’ near-term momentum is firm.</p>
<div class="lb-trans"><p>比特币稳固地处于 Wyckoff 阶段 E，并受到 “金叉” 的支持，短期动能强劲。</p>
</div><p>Macro conditions like regulation and on-chain trends will, however, dictate what happens next.</p>
<div class="lb-trans"><p>然而，宏观条件如监管和链上趋势将决定接下来会发生什么。</p>
</div><p>If the market goes through, re-accumulation or distribution will be contingent on investor sentiment and the fate of legislation on the pending Bitcoin bills.</p>
<div class="lb-trans"><p>如果市场继续，重新积累或分配将取决于投资者情绪和待决比特币法案的立法命运。</p>
</div>

比特币进入 ‘Wyckoff E 阶段’——描绘 BTC 通向 12.5 万美元及更高的路径