比特幣（BTC）價格調整可能是礦工投降階段

過去幾天，加密貨幣市場面臨極大的拋售壓力，導致主要代幣跌破其關鍵支撐位

Major cryptocurrencies faced immense selling pressure over the past few days, leading to the top tokens slipping below their critical support levels.

過去幾天，主要加密貨幣面臨巨大的拋售壓力，導致頂級代幣跌破其關鍵支撐位。

While spot BTC ETF inflows continue to rise, the selling pressure also mounts over the markets, hinting towards a large chuck of people selling heavily.

儘管現貨 BTC ETF 流入量持續增加，但市場上的拋售壓力也在加大，這暗示著大量人正在大量拋售。

Ever since Bitcoin price soared above $71,000, followed by the approval of the spot Ethereum ETF, market participants were confident of reaching a new ATH. Unfortunately, all the expectations were altered within the rejection, while the recent pullback has validated a strong bearish trend. The hugely formed bearish candles, which have outperformed the buying pressure, have dragged the BTC price out of the bullish range. Hence, it is now believed the much-speculated bottom below $60,000 may finally be reached.

自從比特幣價格飆升至71,000美元以上，以及現貨以太坊ETF獲得批准以來，市場參與者對達到新的ATH充滿信心。不幸的是，所有的預期都在拒絕中發生了變化，而最近的回調證實了強烈的看跌趨勢。巨大的看跌蠟燭超過了買盤壓力，將比特幣價格拖出了看漲區間。因此，現在人們相信，人們猜測的 60,000 美元以下的底部可能最終會達到。

But who is selling Bitcoin and creating selling pressure, at a time when institutions are registering record-breaking inflows?

但在機構資金流入創紀錄之際，誰在拋售比特幣並製造拋售壓力？

The Bitcoin price has been consolidating within the range for over 100 days now and this may have caused a strong miner capitulation phase, which was rare. This was a result of the halving event, culling the weak miners. Moreover, the average cost for miners has surged above $75,000 per BTC, while the spot price has dropped below $67,000. Hence, this could have compelled them to shed off their balances, which have been the lowest in the past 6 to 8 months.

比特幣價格已經在該區間內盤整了 100 多天，這可能導致了礦工的強烈投降階段，這種情況很少見。這是減半事件淘汰弱礦工的結果。此外，礦工的平均成本已飆升至每 BTC 75,000 美元以上，現貨價格已跌破 67,000 美元。因此，這可能迫使他們放棄餘額，而餘額已達到過去 6 至 8 個月以來的最低水平。

As per the data from Glassnode, the Bitcoin miner balance has been hitting multiyear lows as sell-offs increased after the recent Bitcoin halving in April 2024. According to the data from Glassnode, the balances have dropped from 1.84 million BTC in early 2023 to 1.8 million BTC by May 2024. This trend highlights miner’s need to cover operational expenses following reduced block rewards.

根據Glassnode 的數據，隨著2024 年4 月比特幣減半後拋售的增加，比特幣礦機餘額已觸及多年低點。至1.8到 2024 年 5 月，將增加 100 萬比特幣。

Therefore, it can be said that Bitcoin miners have played a significant role in the recent BTC price correction. They are assumed to have sold over 1200 BTC—nearly $80 million—which has been preventing the rally from surpassing the crucial resistance at $71,800. Fortunately, this capitulation phase is nearing its end, which may begin a fresh bullish phase. Still, the question remains the same, whether the Bitcoin (BTC) price managed to form a new ATH at $75,000 or not?

因此，可以說，比特幣礦商在近期BTC價格回檔中扮演了不小的角色。據推測，他們已售出超過 1200 個 BTC（近 8000 萬美元），這阻礙了反彈突破 71,800 美元的關鍵阻力位。幸運的是，這個投降階段即將結束，這可能會開始新的看漲階段。儘管如此，問題仍然是一樣的，比特幣 (BTC) 價格是否能夠在 75,000 美元形成新的 ATH？

Also Read : Altcoin Season Is Intact, Here’s a List of Top Three Coins to Stack for 10X Gains

另請閱讀：山寨幣季節完好無損，這裡列出了可堆疊以獲得 10 倍收益的前三名代幣