After days of correcting that saw Bitcoin’s (BTC) valuation face the possibility of extended sell-off below the $40,000 mark, the maiden cryptocurrency has made short-term gains as it seeks to establish a sustained rally. 

经过几天的调整，比特币 (BTC) 的估值面临着进一步跌破 40,000 美元大关的可能性，但这种首次出现的加密货币在寻求持续反弹的过程中已经取得了短期收益。

As the market anticipates the next Bitcoin move, a crypto analyst by the pseudonym IamZeroIka, in an X (formerly Twitter) post on January 27, identified a critical price level that could determine the fate of Bitcoin’s bullish momentum. 

随着市场预期比特币的下一步走势，一位化名 IamZeroIka 的加密货币分析师在 1 月 27 日的 X（前 Twitter）帖子中指出了一个关键的价格水平，该水平可能决定比特币看涨势头的命运。

According to the expert, Bitcoin’s recent bounce, which saw it touch above $38,000 for the first time in weeks, could be a temporary uptick if it fails to surpass the $42,000 mark.  He noted that breaking through this resistance level would open the door for further gains, potentially pushing Bitcoin toward $44,000 or even $46,000.

这位专家表示，比特币最近的反弹是几周来首次触及 38,000 美元以上，如果未能突破 42,000 美元大关，可能只是暂时的上涨。他指出，突破这一阻力位将为进一步上涨打开大门，有可能将比特币推向 44,000 美元甚至 46,000 美元。

“Unless Bitcoin reclaims the 42K (HTF), this is nothing more than a lower high, in my opinion. <…> Everything below 48K can be used as fuel to recharge short positions,” he said. 

“在我看来，除非比特币夺回 42K (HTF)，否则这只不过是一个较低的高点。低于 48K 的一切都可以作为补充空头头寸的燃料，”他表示。

However, failure to reclaim $42,000 could have significant consequences, suggesting that bears could regain control and drive the price further if Bitcoin remains below this key level.

然而，未能收回 42,000 美元可能会产生严重后果，这表明如果比特币仍低于这一关键水平，空头可能会重新获得控制权并进一步推高价格。

Further emphasizing his point, IamZeroIka provided a simplified overview of the daily chart technical Analysis, highlighting three key bearish signals. Firstly, he pointed out the break of the three-month uptrend trendline, indicating a potential shift in momentum from bullish to bearish.

IamZeroIka 进一步强调了他的观点，提供了日线图技术分析的简化概述，强调了三个关键的看跌信号。首先，他指出三个月上升趋势线的突破，表明势头可能从看涨转向看跌。

At the same time, he observed a break in the structure, suggesting that falling below these levels could potentially set the stage for further decline. Lastly, he drew attention to the liquidity in the $32,000 and $36,000 zone. In this regard, the zone appears to have a high concentration of buy orders, which could act as a magnet for the price if it falls, potentially accelerating the downtrend.

与此同时，他观察到结构的突破，这表明跌破这些水平可能会为进一步下跌奠定基础。最后，他提请注意 32,000 美元和 36,000 美元区域的流动性。在这方面，该区域的买盘似乎高度集中，如果价格下跌，这可能会吸引价格，从而可能加速下跌趋势。

Bitcoin turns bullish as GBTC sell-offs slow 

随着 GBTC 抛售放缓，比特币转为看涨

It’s worth noting that the recent Bitcoin sell-off came against the wider market expectations following the approval of the spot exchange-traded fund (ETF). Indeed, part of Bitcoin’s volatility was mainly attributed to outflows from the Grayscale Bitcoin Trust (GBTC).

值得注意的是，近期比特币的抛售与现货交易所交易基金（ETF）获得批准后更广泛的市场预期背道而驰。事实上，比特币波动的部分原因主要归因于灰度比特币信托基金（GBTC）的资金流出。

Notably, the recent surge in the asset’s valuation has coincided with an increasing slowdown in outflows from GBTC. The consistent slowdown could suggest the start of a deceleration in redemptions.

值得注意的是，近期该资产估值的飙升与 GBTC 资金流出的日益放缓同时发生。持续放缓可能表明赎回开始放缓。

In this context, JPMorgan (NYSE: JPM) strategist Nikolaos Panigirtzoglou suggested that the Bitcoin sell-off might be nearing an end, stating that the “GBTC profit-taking has largely happened.”

在此背景下，摩根大通（纽约证券交易所股票代码：JPM）策略师 Nikolaos Panigirtzoglou 表示，比特币抛售可能已接近尾声，并表示“GBTC 获利回吐已基本发生”。

Meanwhile, BlackRock’s (NYSE: BLK) Bitcoin ETF is poised to achieve a noteworthy milestone by surpassing $2 billion in assets under management. The firm’s latest product is maintaining its dominance in the emerging category of ETFs, which is viewed as a positive sentiment for the market, considering BlackRock’s status as the world’s largest investment firm.

与此同时，贝莱德 (BlackRock)（纽约证券交易所股票代码：BLK）的比特币 ETF 管理资产规模将超过 20 亿美元，有望实现一个值得注意的里程碑。该公司的最新产品保持了其在新兴 ETF 类别中的主导地位，考虑到贝莱德作为全球最大投资公司的地位，这被视为对市场的积极情绪。

Notably, at the start of the week, Bitcoin experienced a significant decline, dropping below $39,000 for the first time since early December. Interestingly, several analysts had projected that the sell-off might extend further to the $30,000 level, and therefore, the ongoing rebound could be welcomed news for the market.

值得注意的是，本周初，比特币经历了大幅下跌，自 12 月初以来首次跌破 39,000 美元。有趣的是，一些分析师预计抛售可能会进一步扩大至 30,000 美元的水平，因此，持续的反弹可能对市场来说是个好消息。

Bitcoin price analysis

比特币价格分析

By press time, Bitcoin was trading at $41,701, having recorded gains of almost 3% on the daily chart. On the weekly chart, BTC is up less than 1%.

截至发稿时，比特币交易价格为 41,701 美元，日线图上涨幅接近 3%。周线图上，BTC涨幅不到1%。

Amid the current bullish sentiments, Bitcoin technical analysis is dominated by neutrality. The summary of the one-day gauges retrieved from TradingView recommends ‘neutral’ at 9. The same sentiment is replicated for moving averages and oscillators at 1 and 8, respectively.

在当前的看涨情绪中，比特币技术分析以中性为主。从 TradingView 检索到的一日指标摘要建议“中性”为 9。移动平均线和振荡指标分别为 1 和 8，也出现了相同的情绪。

In conclusion, although Bitcoin shows bullish sentiments in the short term, the asset needs more convincing to break past the $42,000 mark, which remains a key resistance zone for further gains.

总之，尽管比特币在短期内表现出看涨情绪，但该资产需要更有说服力才能突破 42,000 美元大关，这仍然是进一步上涨的关键阻力区域。

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