比特幣（BTC）生態系統看到新的資本浪潮，30天輪換達到16.7％

Axel Adler Jr.最近創建的X帖子解釋了動態和軌跡向比特幣（BTC）生態系統中新一波資本浪潮的一些重要變化。

A recently created X post by Axel Adler Jr. brings to light some crucial shifts in dynamics and trajectory towards a new wave of capital in the Bitcoin (BTC) ecosystem.

Axel Adler Jr.最近創建的X帖子使動態和軌蹟的一些關鍵轉移向比特幣（BTC）生態系統中的新一波資本浪潮。

The 30-Day Capital Rotation, a primary metric that measures the share of realized capital from “new” coins (less than one month old), is currently at 16.7%. This signals a consistent, healthy inflow of fresh capital into Bitcoin without the wild volatility usually seen with speculative euphoria. The metric essentially shows the proportion of the trading volume driven by new players versus old players returning to the market.

30天的資本輪換是一個主要指標，該指標衡量了“新”硬幣（少於一個月大）的資本所佔份額，目前為16.7％。這標誌著新鮮資本流入比特幣的一致，健康的流入，而沒有通常用投機性欣快感看到的野生波動。該指標實質上顯示了由新參與者與返回市場的老球員驅動的交易量的比例。

In the past, higher values of this metric, around 35% or so, have been linked to particularly aggressive hype periods and rapid price spikes.

過去，該度量的較高值左右，大約35％左右，與特別激進的炒作期和價格快速峰值有關。

Bitcoin's Take-off Driven by Retail Speculation

零售投機驅動的比特幣的起飛

The post by Axel Adler Jr. includes a lengthy chart titled "Bitcoin Capital Rotation New vs Old," which displays Bitcoin's price action in relation to capital rotation over the past few years.

Axel Adler Jr.的帖子包括一張冗長的圖表，標題為“比特幣資本輪換新與Old”，該圖表顯示了過去幾年中與資本輪換有關的比特幣的價格行動。

The chart highlights three key moments: a 53% increase in January 2021 when BTC was in a speculative frenzy; two more moderate peaks around 35%, with short-term rally episodes; and a current level of 16.7%, which was noted in May 2025.

該圖表突出了三個關鍵時刻：2021年1月BTC處於投機性狂熱時增長了53％；大約35％的中等峰值，短期集會發作；目前的水平為16.7％，在2025年5月指出。

The 53% figure for January 2021, as Adler mentions, was the height of the "speculator euphoria." At that time, BTC's price soared with a massive influx of retail investors and institutional interest, leading to a strong after-effect with a significant correction from the highs.

正如阿德勒（Adler）所提到的，2021年1月的53％數字是“投機者欣快感”的高度。當時，BTC的價格飆升，大量的散戶投資者和機構利益湧入，導致了強烈的後效應，並從高處進行了重大糾正。

Current Bitcoin Cycle Demonstrates Market Maturity

當前的比特幣週期證明了市場成熟度

On the other hand, the 16.7% figure for today presents a calmer picture. While it indicates that new money is still entering the market, it's doing so at a rate that fosters stability rather than mania.

另一方面，今天的16.7％數字顯示了一張平靜的圖片。雖然這表明新資金仍在進入市場，但它以促進穩定而不是躁狂症的速度這樣做。

According to the chart, while the capital rotation line stands well below former peaks, the price of Bitcoin continues to rise steadily, fueled by the tepid interest of investors, not temporary enthusiasm. This signals a mature stage for Bitcoin, where investor behaviors reflect a more optimistic long-term outlook.

根據圖表的說法，儘管資本輪換線遠低於以前的峰值，但由於投資者（而不是暫時的熱情）的勝利，比特幣的價格繼續穩步上漲。這標誌著比特幣的成熟階段，投資者的行為反映了更樂觀的長期前景。

The post post also mentions that the current cycle is being driven by organic growth, which is collecting dust in the down-wave and now being used to push prices higher.

帖子帖子還提到，當前週期是由有機增長驅動的，有機增長是在下波動中收集灰塵，現在被用來推動價格提高。

With this stable flow, BTC can be positioned to move in a more sustainable upward trend. However, if the 30-Day Capital Rotation begins to approach 35% again, it might herald another round of rapid price appreciation.

憑藉這種穩定的流動，BTC可以定位以更可持續的向上趨勢。但是，如果30天的資本輪換再次開始接近35％，它可能會預示著另一輪快速價格升值。