比特幣（BTC）連續第四周在實現的大寫中打破了歷史最高的高位（ATH）

最新的鍊鍊數據表明，比特幣（BTC）在實現的資本中打破了其歷史最高（ATH）

The latest on-chain data reveals that Bitcoin (BTC) has hit a new all-time high (ATH) in realized capitalization for the fourth consecutive week. At the same time, both Bitcoin whales and spot exchange-traded funds (ETFs) are steadily increasing their holdings – a sign of growing investor confidence.

最新的鍊鍊數據表明，比特幣（BTC）連續第四周在實現的資本中達到了新的歷史最高（ATH）。同時，比特幣鯨和現貨交易所貿易資金（ETF）都在穩步增加其持股，這表明投資者信心不斷增加。

According to a recent CryptoQuant Quicktake post by contributor Carmelo_Aleman, Bitcoin’s realized capitalization has surpassed its previous record, reaching over $906 billion as of May 18, 2025. This milestone marks the fourth straight week in which this key on-chain metric has hit a new high.

根據撰稿人Carmelo_aleman的最近一份加密快速帖子，比特幣的實現資本化超過了其先前的紀錄，截至2025年5月18日，比特幣達到了超過90060億美元的紀錄。這一里程碑標誌著這個關鍵的鏈型計量的第四周，這是一個新的高高。

For the uninitiated, Bitcoin’s realized capitalization is the total value of all BTC in circulation, calculated based on the price each coin last moved rather than the current market price. This metric offers a more accurate reflection of true capital inflow and investor conviction, excluding dormant or lost coins.

對於初學者來說，比特幣的實現資本化是所有BTC的總價值，根據每個硬幣上次移動的價格而不是當前的市場價格計算得出的總價值。該度量標準更準確地反映了真正的資本流入和投資者定罪，不包括休眠或丟失的硬幣。

Carmelo notes that BTC has been consolidating near the daily resistance level of $104,731 for nearly 10 days. During this phase, the leading cryptocurrency has continued to accumulate capital, possibly gearing up for a significant breakout.

卡梅洛指出，BTC在近10天內的每日阻力水平上已鞏固在104,731美元的每日電阻水平上。在此階段，領先的加密貨幣繼續積累資本，可能會為重大突破做好準備。

If BTC can breach this resistance, the next major hurdle lies at $107,757. Clearing this level could open the door to a fresh all-time high, supported by several bullish on-chain signals. Carmelo adds:

如果BTC可以違反這種阻力，那麼下一個重大障礙是107,757美元。清除這一水平可能會為新鮮的歷史最高高，並由幾個看漲的鏈信號支撐。卡梅洛補充說：

“On May 8, when this range-bound phase began, the total value of all UTXOs was $891,642,358, meaning that in just 10 days, new Bitcoin investments have added $14,399,578, reflecting a 1.61% increase in Realized Capitalization.”

“ 5月8日，當這個距離結合階段開始時，所有UTXOS的總價值為891,642,358美元，這意味著在短短10天內，新的比特幣投資增加了14,399,578美元，反映了已實現資本的增長1.61％。”

According to Bitcoin UTXO Value Bands, the most significant accumulation over the past 10 days has come from wallets holding 100 to 1,000 BTC. These wallets increased their collective holdings from 5.56 million BTC to 5.68 million BTC, representing a 2.20% gain during this period.

根據比特幣UTXO值頻段的數據，過去10天中最重要的積累來自容納100至1,000 BTC的錢包。這些錢包將其集體持有量從556萬BTC增加到568萬BTC，在此期間增長了2.20％。

Among ETFs, BlackRock’s IBIT spot ETF stands out as the only major fund to increase its BTC exposure. Its holdings rose from 621,600 BTC to 631,902 BTC, a 1.66% increase. In contrast, most other ETFs have either taken profits or held their positions steady.

在ETF中，BlackRock的IBIT Spot ETF是增加其BTC暴露的唯一主要基金。它的持股從621,600 BTC上升到631,902 BTC，增長了1.66％。相比之下，大多數其他ETF要么獲得利潤或保持其位置穩定。

BTC Heading To $120,000?

BTC達到$ 120,000？

As Bitcoin trades just 5.1% below its current ATH, analysts are speculating on potential upside targets for this market cycle. One model, the Wyckoff Accumulation pattern, suggests BTC could top out near $120,000.

隨著比特幣交易僅比目前的ATH交易5.1％，分析師正在猜測該市場週期的潛在上行目標。 Wyckoff積累模式的一種模型表明，BTC的價格可能接近120,000美元。

This prediction aligns with another analyst's recent statement on May 15, who claimed that BTC could surge to $119,000 if it manages to break through the $104,000 resistance level.

這一預測與另一位分析師在5月15日的最新聲明相吻合，後者聲稱，如果BTC設法突破了104,000美元的阻力水平，BTC可能會飆升至119,000美元。

Further supporting this bullish narrative is the fact that nearly 100,000 BTC has been withdrawn from exchanges over the past three weeks – often a sign of long-term accumulation and reduced selling pressure.

進一步支持這種看漲的敘述的事實是，在過去三周中，將近100,000 BTC從交流中撤回 - 通常是長期積累和減輕銷售壓力的標誌。

At press time, BTC trades at $103,450, down 1.2% in the past 24 hours.

發稿時，BTC的交易價格為103,450美元，在過去24小時內下跌1.2％。