隨著市場整合至 10 萬美元以下，比特幣開始積累

比特幣目前正處於波動階段，在未能守住關鍵支撐位後，在 10 萬美元大關下方盤整。

Bitcoin’s failure to hold the $100,000 mark as a key support level has sparked uncertainty among investors, but a closer look at the market reveals a promising future for the digital asset.

比特幣未能守住 10 萬美元關鍵支撐位，引發了投資者的不確定性，但仔細觀察市場就會發現，這種數位資產的未來充滿希望。

Despite the short-term turbulence, key metrics are painting a bullish picture of Bitcoin’s long-term prospects. A notable analysis by analyst Axel Adler highlights the Bitcoin Exchanges netflow-to-reserve ratio, a new metric shedding light on an ongoing accumulation phase in the market. This indicator shows that BTC is being moved from exchanges into long-term storage, signaling investor confidence and a potential price rally as the market matures.

儘管存在短期動盪，但關鍵指標正在描繪比特幣長期前景的樂觀前景。分析師 Axel Adler 的一項著名分析強調了比特幣交易所的淨流量與準備金比率，這是一個新指標，揭示了市場持續累積階段的情況。該指標表明，比特幣正在從交易所轉移到長期存儲，這表明投資者信心十足，並且隨著市場成熟，價格可能會上漲。

While Bitcoin may be experiencing a temporary correction, the underlying fundamentals suggest a positive outlook for the digital asset in the future. With strong accumulation signals and growing institutional interest, BTC appears poised to regain momentum and continue its upward trajectory in the coming months.

雖然比特幣可能正在經歷暫時的調整，但基本面表明該數位資產未來的前景樂觀。隨著強勁的增持訊號和不斷增長的機構興趣，比特幣似乎準備在未來幾個月恢復勢頭並繼續其上行軌跡。

Bitcoin Accumulation Taking Place

比特幣正在積累

Adler's recent analysis of Bitcoin’s Exchange’s netflow-to-reserve ratio offers a fresh perspective on the ongoing accumulation phase within the market. The metric, which tracks the flow of BTC between exchanges and wallets, has proven to be a valuable tool in identifying investor sentiment.

阿德勒最近對比特幣交易所的淨流量與準備金比率的分析為市場內持續累積階段提供了新的視角。該指標追蹤比特幣在交易所和錢包之間的流動，已被證明是識別投資者情緒的寶貴工具。

A negative value in this ratio indicates that more Bitcoin is being withdrawn from exchanges than deposited, signaling that users are holding their BTC in private wallets rather than actively trading. This reduces the available supply on exchanges and often precedes upward price movements, as it suggests that investors are positioning themselves for long-term gains rather than short-term speculation.

該比率為負值表明從交易所提取的比特幣多於存入的比特幣，這表明用戶將比特幣存放在私人錢包中，而不是積極進行交易。這減少了交易所的可用供應量，並且通常先於價格上漲，因為這表明投資者正在為長期收益而不是短期投機做好準備。

Looking at the current market conditions, the netflow-to-reserve ratio indicates a similar trend. Despite the recent volatility and the struggle to hold the $100,000 mark, the ongoing withdrawals from exchanges show that investors are once again accumulating Bitcoin. With the reserve steadily decreasing, the stage is being set for potential upward momentum as these holdings are likely to remain off the market for the long term, supporting the case for a bullish outlook in the years to come.

從目前的市場狀況來看，淨流量與準備金的比率也顯示出類似的趨勢。儘管最近出現波動且難以守住 10 萬美元大關，但交易所的持續提款表明投資者正在再次累積比特幣。隨著準備金穩步減少，潛在的上升勢頭正在形成，因為這些持有的資產可能會長期遠離市場，從而支撐了未來幾年看漲前景的理由。