<p>比特币 [BTC] 从 63,000 美元的下滑中反弹，触及 69,988 美元的高点，随后略微回落，随着更广泛的加密市场恢复。</p>
<p>截至撰写时，比特币 [BTC] 的交易价格为 68,409 美元，日内上涨 5.12%。随着近期的跳升，BTC 翻转了其短期移动平均线（9 日和 21 日均线），显示出短期内的上行动能。</p>
<p>然而，尽管出现了这种变化，整体市场结构仍然疲弱。</p>
<h2><strong>比特币现货交易量创 2024 年新低</strong></h2>
<p>在他的分析中，Darkfost 指出，比特币的现货交易量降至 2024 年新低，原因是市场流动性低。分析师警告称，2026 年 2 月有望成为自 2024 年以来比特币交易量最低的月份。</p>
<p>投资者变得谨慎，急剧减少风险投资。同时，市场流动性下降，个人和机构参与者均保持观望。</p>
<p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/02/btc-spot-volume-scaled.jpg?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/2026/02/btc-spot-volume-scaled.jpg"/></p>
<p>来源：CryptoQuant</p>
<p>首先，现货交易量在所有主要交易所均有所下降。在币安，交易量从 1980 亿美元降至 750 亿美元。</p>
<p>Gate.io 从 530 亿美元降至 250 亿美元，而 Bybit 从 410 亿美元降至 200 亿美元，各自损失超过一半。</p>
<p>此外，机构投资者对市场入场的兴趣减弱，进一步减少了现货交易量。事实上，这些实体中的大多数已关闭头寸，降低了风险敞口，正如现货 ETF 的资金流入所显示的。</p>
<p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/02/newplot-14.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/2026/02/newplot-14.png"/></p>
<p>来源：Checkonchain</p>
<p>Checkonchain 数据显示，ETF 的交易量从 140.7 亿美元降至 44 亿美元，下降了 96 亿美元。同时，总 ETF 净流入从 610 亿美元降至 540 亿美元，减少了 70 亿美元。</p>
<p>如此大幅的下降表明市场处于谨慎阶段，投资者在保留资本，等待合适的条件进行投资。</p>
<p>通常，当现货交易量下降时，投机者会转向期货，帮助市场保持动能。然而，目前的市场状况有所不同，现货和期货交易量同步下降。</p>
<p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/02/newplot-15.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/2026/02/newplot-15.png"/></p>
<p>来源：Checkonchain</p>
<p>根据 Checkonchain 数据，综合期货交易量从 1230 亿美元降至 650 亿美元，下降了 580 亿美元。这一下降表明市场中的风险偏好降低和风险厌恶情绪加剧。</p>
<h2><strong>BTC 接下来会怎样？</strong></h2>
<p>比特币表现出持续的疲弱，因为市场上的投资者已退后一步，等待合适的市场条件。</p>
<p>因此，市场结构仍然疲弱，熊市情绪占主导地位。然而，在短期内，比特币显示出恢复的看涨情绪。</p>
<p>因此，随机相对强弱指数（Stochastic RSI）出现看涨交叉，并在发布时攀升至 75，反映出上行动能的增强。同时，BTC 跃升至其短期移动平均线（9 日和 21 日均线）之上，验证了短期的上升趋势。</p>
<p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/02/BTC-mas.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/2026/02/BTC-mas.jpeg"/></p>
<p>来源：TradingView</p>
<p>当这两个动能指标发出看涨信号时，表明短期内趋势延续的可能性。因此，如果最近观察到的需求保持，BTC 将突破 70,000 美元并瞄准 73,700 美元。</p>
<p>然而，如果动能像出现时那样迅速消退，BTC 将跌破 66,000 美元的支撑位，65,157 美元将是关键支撑水平。</p>
<hr/>
<h2>最终总结</h2>
<ul>
<li><em>比特币现货交易量降至 2024 年的低水平，市场流动性减少。</em></li>
<li><em>BTC 从 63,000 美元反弹至 69,988 美元，显示出短期看涨动能。</em></li>
</ul>

ABTC

GLXY

COIN

<p>比特币现货交易量已降至 2024 年的低点，反映出市场流动性减少和投资者情绪谨慎。尽管最近反弹至 69,988 美元，但整体市场依然疲软，主要交易所的交易量显著下降。机构投资者的兴趣减弱，导致 ETF 交易量下降。虽然短期指标暗示 BTC 可能出现看涨动能，但整体市场结构脆弱，关键支撑位在 66,000 美元和 65,157 美元。投资者在等待更有利的市场条件时，建议保持谨慎</p>

<p>Bitcoin [BTC] rebounded from its $63k slip and touched a high of $69,988, then retraced slightly as the broader crypto market recovered.</p>
<div class="lb-trans"><p>比特币 [BTC] 从 63,000 美元的下滑中反弹，触及 69,988 美元的高点，随后略微回落，随着更广泛的加密市场恢复。</p>
</div><p>At the time of writing, Bitcoin [BTC] traded at $68409, up 5.12% on the daily charts. With the recent jump, BTC flipped its short‑term Moving Averages (9 and 21 MAs), signaling upside momentum in the near term.</p>
<div class="lb-trans"><p>截至撰写时，比特币 [BTC] 的交易价格为 68,409 美元，日内上涨 5.12%。随着近期的跳升，BTC 翻转了其短期移动平均线（9 日和 21 日均线），显示出短期内的上行动能。</p>
</div><p>Yet despite this shift, the broader market structure remains weak.</p>
<div class="lb-trans"><p>然而，尽管出现了这种变化，整体市场结构仍然疲弱。</p>
</div><h2><strong>Bitcoin’s spot volume hit 2024 lows</strong></h2>
<div class="lb-trans"><h2><strong>比特币现货交易量创 2024 年新低</strong></h2>
</div><p>In his analysis, Darkfost noted that Bitcoin’s Spot Volume fell to 2024 lows, driven by low market liquidity. The analyst warned that February 2026 is on track to close as the month with the lowest BTC trading volume since 2024.</p>
<div class="lb-trans"><p>在他的分析中，Darkfost 指出，比特币的现货交易量降至 2024 年新低，原因是市场流动性低。分析师警告称，2026 年 2 月有望成为自 2024 年以来比特币交易量最低的月份。</p>
</div><p>Investors have grown cautious, sharply reducing risk‑taking. At the same time, market liquidity has fallen as both individual and institutional participants remain on the sidelines.</p>
<div class="lb-trans"><p>投资者变得谨慎，急剧减少风险投资。同时，市场流动性下降，个人和机构参与者均保持观望。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/02/btc-spot-volume-scaled.jpg" alt="" original-src="https://ambcrypto.com/wp-content/uploads/2026/02/btc-spot-volume-scaled.jpg"/></p>
<p>Source: CryptoQuant</p>
<div class="lb-trans"><p>来源：CryptoQuant</p>
</div><p>To start, Spot trading volume has declined across all major exchanges. On Binance, volume dropped from $198 billion to $75 billion.</p>
<div class="lb-trans"><p>首先，现货交易量在所有主要交易所均有所下降。在币安，交易量从 1980 亿美元降至 750 亿美元。</p>
</div><p>Gate.io fell from $53 billion to $25 billion, while Bybit slid from $41 billion to $20 billion, each losing more than half.</p>
<div class="lb-trans"><p>Gate.io 从 530 亿美元降至 250 亿美元，而 Bybit 从 410 亿美元降至 200 亿美元，各自损失超过一半。</p>
</div><p>Additionally, institutional investors have shown less appetite for market entry, further reducing spot volume. In fact,most of these entities have closed positions, reducing exposure as evidenced by Spot ETFs’ inflows.</p>
<div class="lb-trans"><p>此外，机构投资者对市场入场的兴趣减弱，进一步减少了现货交易量。事实上，这些实体中的大多数已关闭头寸，降低了风险敞口，正如现货 ETF 的资金流入所显示的。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/02/newplot-14.png" alt="" original-src="https://ambcrypto.com/wp-content/uploads/2026/02/newplot-14.png"/></p>
<p>Source: Checkonchain</p>
<div class="lb-trans"><p>来源：Checkonchain</p>
</div><p>Checkonchain data showed that ETFs’ trade volume dropped from $14.07 billion to $4.4 billion, a decline of $9.6 billion. At the same time, Total ETFs Net Inflows fell from $61 billion to $54 billion, a $7 billion decline.</p>
<div class="lb-trans"><p>Checkonchain 数据显示，ETF 的交易量从 140.7 亿美元降至 44 亿美元，下降了 96 亿美元。同时，总 ETF 净流入从 610 亿美元降至 540 亿美元，减少了 70 亿美元。</p>
</div><p>Such a massive drop indicates a market in a cautious phase, with investors preserving capital and awaiting suitable conditions to deploy.</p>
<div class="lb-trans"><p>如此大幅的下降表明市场处于谨慎阶段，投资者在保留资本，等待合适的条件进行投资。</p>
</div><p>Often, when spot volume falls, speculators shift to futures, helping the market maintain momentum. However, current market conditions differ, as spot and futures volumes have dropped in tandem.</p>
<div class="lb-trans"><p>通常，当现货交易量下降时，投机者会转向期货，帮助市场保持动能。然而，目前的市场状况有所不同，现货和期货交易量同步下降。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/02/newplot-15.png" alt="" original-src="https://ambcrypto.com/wp-content/uploads/2026/02/newplot-15.png"/></p>
<p>Source: Checkonchain</p>
<div class="lb-trans"><p>来源：Checkonchain</p>
</div><p>According to Checkonchain data, Aggregate Futures Volume fell from $123 billion to $65 billion, a $58 billion decline. This decline indicates reduced risk appetite and risk-averse sentiment in the market.</p>
<div class="lb-trans"><p>根据 Checkonchain 数据，综合期货交易量从 1230 亿美元降至 650 亿美元，下降了 580 亿美元。这一下降表明市场中的风险偏好降低和风险厌恶情绪加剧。</p>
</div><h2><strong>What’s next for BTC?</strong></h2>
<div class="lb-trans"><h2><strong>BTC 接下来会怎样？</strong></h2>
</div><p>Bitcoin has shown sustained weakness as investors across the market have taken a step back, awaiting suitable market conditions.</p>
<div class="lb-trans"><p>比特币表现出持续的疲弱，因为市场上的投资者已退后一步，等待合适的市场条件。</p>
</div><p>As such, the market remains structurally weak, and bearish sentiment has dominated. In the short term, however, Bitcoin showed recovering bullish sentiment.</p>
<div class="lb-trans"><p>因此，市场结构仍然疲弱，熊市情绪占主导地位。然而，在短期内，比特币显示出恢复的看涨情绪。</p>
</div><p>For that reason, Stochastic RSI made a bullish crossover and climbed to 75, at press time, reflecting the strengthening upside momentum. At the same time, BTC jumped above its short-term Moving Averages (9- and 21-day MAs), validating the short-term uptrend.</p>
<div class="lb-trans"><p>因此，随机相对强弱指数（Stochastic RSI）出现看涨交叉，并在发布时攀升至 75，反映出上行动能的增强。同时，BTC 跃升至其短期移动平均线（9 日和 21 日均线）之上，验证了短期的上升趋势。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/02/BTC-mas.jpeg" alt="" original-src="https://ambcrypto.com/wp-content/uploads/2026/02/BTC-mas.jpeg"/></p>
<p>Source: TradingView</p>
<div class="lb-trans"><p>来源：TradingView</p>
</div><p>When these two momentum indicators flash bullish, it signals the likelihood of trend continuation in the short term. Thus, if the demand recently observed holds, BTC will flip $70k and target $73,700.</p>
<div class="lb-trans"><p>当这两个动能指标发出看涨信号时，表明短期内趋势延续的可能性。因此，如果最近观察到的需求保持，BTC 将突破 70,000 美元并瞄准 73,700 美元。</p>
</div><p>However, if the momentum fades as quickly as it emerged, BTC will breach the $66k support, with $65,157 as the critical support level.</p>
<div class="lb-trans"><p>然而，如果动能像出现时那样迅速消退，BTC 将跌破 66,000 美元的支撑位，65,157 美元将是关键支撑水平。</p>
</div><hr/>
<div class="lb-trans"><hr/>
</div><h2>Final Summary</h2>
<div class="lb-trans"><h2>最终总结</h2>
</div><ul>
<li><em>Bitcoin spot volume dropped to 2024’s low levels, amid reduced market liquidity.</em></li>
<li><em>BTC rebounded from $63k, hiking to $69,988, signaling short-term bullish momentum.</em></li>
</ul>
<div class="lb-trans"><ul>
<li><em>比特币现货交易量降至 2024 年的低水平，市场流动性减少。</em></li>
<li><em>BTC 从 63,000 美元反弹至 69,988 美元，显示出短期看涨动能。</em></li>
</ul>
</div>

Bitcoin’s KEY metric hits 2024 lows as BTC eyes $70K – Caution ahead?

- Bitcoin 现货交易量跌至 2024 年低点，市场流动性减少。
- BTC 从 63,000 美元反弹至 69,988 美元，显示短期看涨动能。
- 市场整体结构仍然疲软，投资者风险偏好降低。

Amb Crypto

American Bitcoin

Galaxy Digital

Coinbase

Grayscale Bitcoin Trust BTC - ETF

Grayscale Bitcoin Mini Trust ETF

2 倍做多 Coinbase ETF - Leverage Shares

ProShares Bitcoin Strategy ETF

2 倍做多加密货币行业 ETF - Direxion

CoinShares Bitcoin ETF

Defiance Leveraged Long + Inc MSTR ETF

Fidelity Wise Origin Bitcoin Fund - ETF

2 倍做多 COIN ETF - GraniteShares

Grayscale Bitcoin Adopters ETF

Global X Blockchain ETF

Valkyrie Bitcoin and Ether Strategy ETF

Leverage Shares 2X Long SPOT Daily ETF

iShares Blockchain And Tech ETF

ARK 21Shares Bitcoin ETF

WisdomTree Bitcoin Fund

Inv Alerian Galaxy Blockchain Users & Decentralized Com ETF

Grayscale Bitcoin Miners ETF

区块链 ETF - Amplify

GraniteShares 2x Long MSTR Daily ETF

iShares Bitcoin Trust ETF

Leverage Shares 2x Cpd Acclrtd MSTRMnETF

Valkyrie Bitcoin Miners ETF

Invesco Galaxy Bitcoin ETF

VanEck Bitcoin ETF

2 倍做多 MSTR ETF - Defiance

Franklin Bitcoin ETF

纳斯达克 NexGen 经济 ETF - Reality Shares

2 倍做多 MSTR ETF - T-Rex

Bitwise Bitcoin ETF

2 倍做多 MARA ETF - GraniteShares

比特币的关键指标跌至 2024 年低点，BTC 目标价为 70,000 美元——是否需要谨慎？