比特幣（BTC）在實現的資本中打破了其歷史最高（ATH）

最新的鍊鍊數據表明，比特幣（BTC）連續第四周打破了其歷史上的高高（ATH）。同時，兩個比特幣鯨和現貨交易所貿易資金（ETF）都在穩步增加其持有量

The latest on-chain data reveals that Bitcoin (BTC) has broken its all-time high (ATH) in realized capitalization for the fourth consecutive week.

最新的鍊鍊數據表明，比特幣（BTC）連續第四周打破了其歷史上的高高（ATH）。

This milestone, which occurs as both Bitcoin whales and spot exchange-traded funds (ETFs) are steadily increasing their holdings, underscores the growing investor confidence in the cryptocurrency.

這一里程碑是因為比特幣鯨和現貨交易所貿易資金（ETF）穩步增加其持股，這強調了投資者對加密貨幣的信心，這一里程碑正在穩步增加。

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.

根據撰稿人Carmelo_aleman最近的一份加密快速帖子，比特幣的實現資本化已經超過了其先前的記錄，截至5月18日，比特幣的資本化已超過90060億美元。

This key on-chain metric, which is calculated by summing the value of each BTC coin at the price it last moved, has been incrementally rising throughout the year, offering a more accurate reflection of true capital inflow and investor conviction—as opposed to the total market cap, which includes dormant or lost coins.

這款關鍵的鍊鍊度量是通過以其上次移動的價格概括每個BTC硬幣的價值來計算的，全年都在逐步上升，從而更準確地反映了真正的資本流入和投資者的信念，這與總市場上限相反，其中包括重量或損失的硬幣或損失的硬幣。

As Carmelo explains, 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.

正如卡梅洛（Carmelo）所解釋的那樣，BTC在近10天內的每日阻力水平上的固結量已接近104,731美元。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.

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。

“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 is based on the size of the BTC accumulation cycle, which is said to be nearing its peak after a seven-month span.

該預測基於BTC累積週期的大小，據說在七個月後將接近其峰值。

Furthermore, 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.

此外，在過去三周中，將近100,000 BTC從交易所中撤回，通常是長期積累和銷售壓力減輕的跡象。

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％。