比特幣（BTC）購買者仍然占主導地位

比特幣（BTC）購買者在交流中仍然占主導地位，因為歷史上的高潮充滿了異常的樂觀。

Key points

關鍵點

Bitcoin buyer interest remains strong at all-time highs, contrasting with the first touch of $100,000 in 2024.

比特幣買家的興趣在歷史最高時期仍然很強，與2024年的100,000美元相反。

The BTC price uptrend “may continue” as a result, CryptoQuant analysis concludes.

加密分析得出結論，BTC價格上漲趨勢“可能會繼續”。

Bitcoin short-term holders are firmly in the black in a further potential bull market boost.

比特幣短期持有人牢固地處於黑色狀態，以進一步的牛市增強。

Bitcoin (BTC) buyers are still dominant on exchanges as all-time highs are met with unusual optimism.

比特幣（BTC）購買者仍然在交流中占主導地位，因為歷史最高的樂觀情緒始終是不尋常的。

Data from onchain analytics platform CryptoQuant shows a 90-day cumulative volume delta (CVD) favoring Bitcoin bulls.

來自OnChain Analytics平台加密量的數據顯示，有利於比特幣公牛的90天累積體積達美（CVD）。

CryptoQuant: BTC price uptrend ‘may continue’

加密量：BTC價格上漲趨勢“可能繼續”

BTC price all-time highs continue to be met with traders displaying a strong preference for buying over selling despite the market surging 50% in less than two months.

BTC價格歷史上的高價仍然與交易者保持滿足，儘管市場在不到兩個月的時間內市場飆升了50％，但表現出強烈的購買而不是銷售。

Analyzing 90-day CVD, CryptoQuant contributor Ibrahim Cosar reveals the extent to which sellers have ceded control during that period.

分析90天CVD的加密貢獻者易卜拉欣·卡薩爾（Ibrahim Cosar）揭示了賣方在此期間的控製程度。

“In short: Buy orders (taker buy) have become dominant again. In other words, more buy orders are being placed in the market than sell orders,” he summarizes.

他總結說：“簡而言之：買入訂單（Taker Buy）再次成為統治。換句話說，在市場上下達更多的買入訂單比賣出訂單要多。”

CVD measures the difference between buy and sell volume over a three-month period. Until mid-March, sell-side pressure dominated the order book, notably leading to BTC/USD hitting multi-month lows under $75,000 in early April.

CVD在三個月內衡量買賣數量之間的差異。直到3月中旬，賣方壓力占主導地位，尤其是導致BTC/USD在4月初達到了多個月低於75,000美元的低點。

Neutral conditions then prevailed until buyer dominance returned in May.

然後，中立條件盛行，直到買方在5月返回。

“The summary of the situation: As the price tests above $110K and reaches a new all-time high (ATH), buyers have not backed down. This could be setting the stage for another wave of upward movement,” Cosar concludes.

卡薩爾總結說：“情況的摘要：隨著價格測試超過$ 11萬美元，並達到了新的歷史最高水平（ATH），買家沒有退縮。這可能是為另一波向上移動的階段奠定基礎。”

Bitcoin hodlers hold off on sales

比特幣霍德爾（Hodlers）堅持銷售

As Cointelegraph reported, hodlers have broadly refrained from distributing coins to the market at current levels.

正如CoIntelegraph所報導的那樣，Hodlers廣泛地避免將硬幣分配到當前水平。

Related: Bitcoin ‘looks exhausted’ as next bear market yields $69K target

相關：比特幣“看起來疲憊”，因為下一個熊市的目標是$ 69K的目標

Daily profit-taking is half of what it was when Bitcoin first reached $100,000 in December 2024, research shows, while the price is 10% higher.

研究表明，每日盈利是比特幣在2024年12月首次達到100,000美元的一半，而價格高出10％。

“Older coins were much less active this time, signaling stronger holding behavior,” onchain analytics firm Glassnode added in an X thread on the topic.

“這次，較舊的硬幣的活躍程度要少得多，這表明了持有行為的強烈，” OnChain Analytics公司的玻璃節在該主題的X線程中添加了。

Coin age distribution shows the shift:🔺 76.9% (May 2025)🔻 44.6% (Dec 2024)>6m-old coins:🔻 13.4% (May 2025)🔺 24.7% (Dec 2024)Older coins were much less active this time, signaling stronger holding behavior. pic.twitter.com/8PZq8p3ZX7

硬幣年齡分佈顯示了轉移：🔺76.9％（2025年5月）🔻44.6％（2024年12月）> 6m齡的硬幣：🔻13.4％（2025年5月）🔺24.7％（2024年12月2024年）較舊的硬幣這次的活躍程度降低了，這是這次的活躍程度較低，信號更強。 pic.twitter.com/8pzq8p3zx7

CryptoQuant notes that price momentum increased after reclaiming the average cost basis for Bitcoin’s short-term holder (STH) cohort at just under $100,000 — entities buying within the last six months.

CryptoQuant指出，在收回比特幣短期持有人（STH）隊列的平均成本基礎之後，價格勢頭增長，價格不到100,000美元，這是在過去六個月內購買的實體。

“Bitcoin is rallying after reclaiming the Short-Term Holder Average Cost basis — a key level that often serves as a strong buy-the-dip indicator during bull markets,” it told X followers.

它告訴X追隨者：“在收回短期持有人的平均成本基礎之後，比特幣正在集會 - 這是一個關鍵水平，通常在牛市期間用作強有力的買入指標。”

This article does not contain investment advice or recommendations. Every investment and trading move involves risk and readers should conduct their own research when making a decision.

本文不包含投資建議或建議。每個投資和交易舉動都涉及風險，讀者在做出決定時應進行自己的研究。