比特幣[BTC]失去了與黃金的相關性，但這個故事還有更多

比特幣[BTC]繼續鞏固超過100,000美元的大關，在圖表上的範圍內範圍內。

Bitcoin [BTC] has continued to consolidate above the $100,000 mark, moving within a range-bound level on the chart. This consolidation, following a notable price breakout, implies that buying activity has remained on the high side.

比特幣[BTC]繼續鞏固超過100,000美元的大關，在圖表上的範圍內範圍內。在著名的價格突破之後，這種合併意味著購買活動仍然處於高處。

However, there has been a shift in the crypto market, which could affect the asset’s liquidity and correlation with other assets.

但是，加密市場發生了變化，這可能會影響資產的流動性和與其他資產的相關性。

Now, reports from Glassnode suggest that Bitcoin has lost its correlation with Gold, based on the 30-day chart. The analysis shows that the correlation between both assets now stands at negative 0.54, marking its lowest level since February 2025.

現在，GlassNode的報告表明，基於30天的圖表，比特幣失去了與黃金的相關性。分析表明，兩個資產之間的相關性現在為負0.54，標誌著其自2025年2月以來的最低水平。

A close look at the chart shows that the last time this occurred, there was a significant liquidity outflow from Bitcoin, while Gold saw a notable inflow.

仔細查看圖表表明，這是最後一次發生的情況，比特幣有大量的流動性流出，而黃金則看到了顯著的流入。

Between November and December, when the 30-day correlation dropped to this level, Bitcoin surged while Gold declined.

在11月至12月之間，當30天的相關性下降到該水平時，比特幣在黃金下降時飆升。

Given these contrasting market movements, AMBCrypto examined additional factors to assess Bitcoin’s potential trajectory.

鑑於這些對比鮮明的市場運動，Ambcrypto檢查了其他因素，以評估比特幣的潛在軌跡。

What does liquidity flow tell us?

流動性流動告訴我們什麼？

Two key metrics were used to determine the liquidity flow in the market: Exchange Reserve and Exchange Netflow.

使用兩個關鍵指標來確定市場流動性流量：交易儲備和交換NetFlow。

The Exchange Reserve simply calculates the amount of the asset available on exchanges. A drop in this metric implies there are fewer Bitcoin on exchanges, increasing the tendency for holding and reducing immediate selling pressure.

交易儲備只需計算交易所可用的資產金額。該度量標準的下降意味著交易所的比特幣較少，增加了保持和減少立即銷售壓力的趨勢。

At the time of writing, the Exchange Reserve has dropped to a new all-time low of approximately 2.43 million Bitcoin.

在撰寫本文時，交易儲備已降至新的歷史最低點，約為243萬比特幣。

Not only has the Bitcoin reserve continued to drop, but the amount of Bitcoin being bought has also been on the rise. This is confirmed by the Exchange Netflow, which measures the difference between buying and selling activity for Bitcoin in the market. When the netflow is red, it means more Bitcoin has been bought than sold. When it’s green, it implies there is more selling than buying.

比特幣儲備不僅繼續下降，而且購買的比特幣數量也在增加。 Exchange Netflow證實了這一點，該淨流量衡量了市場上比特幣的買賣活動之間的差異。當Netflow為紅色時，這意味著比特幣要比出售的更多。當它是綠色的時候，它意味著銷售多於購買。

Observing the chart closely, more red has appeared, confirming strong purchase sentiment.

仔細觀察圖表，出現了更多的紅色，證實了強烈的購買情緒。

If this buying trend continues, alongside a drop in reserves and a more negative netflow, it could significantly support further upward movement.

如果這種購買趨勢繼續下去，隨著儲量下降和更負面的淨流，它可以大大支持進一步的向上移動。

What does cooling whale activity mean?

冷卻鯨活動意味著什麼？

Whale activity on exchanges has continued to drop, particularly in the past 24 hours, plunging to a new low. This could suggest several things. However, based on current market activity, it’s likely that whales are preparing for long-term holding.

交流的鯨魚活動持續下降，尤其是在過去的24小時中，跌至新的低點。這可能會暗示幾件事。但是，基於當前的市場活動，鯨魚可能正在為長期持有做準備。

This forecast aligns with the decline in exchange reserves, suggesting that whales who previously accumulated large amounts of Bitcoin have yet to move their holdings.

這一預測與交換儲量的下降保持一致，這表明以前積累了大量比特幣的鯨魚尚未移動其持股。

If this holding trend persists, it could strengthen BTC’s potential for an upward breakout, possibly surpassing its current consolidation phase.

如果這種保持趨勢持續下去，它可能會增強BTC向上突破的潛力，可能會超過其當前的整合階段。