比特幣（BTC）短期持有人的餘額已跳高

鏈上的數據顯示，短期持有人最近持有的比特幣餘額躍升了。這就是BTC的價格可能意味著什麼。

On-chain data shows the Bitcoin balance held by the short-term holders has jumped recently. Here’s what this could mean for BTC’s price.

鏈上的數據顯示，短期持有人最近持有的比特幣餘額躍升了。這就是BTC的價格可能意味著什麼。

Bitcoin (BTC) has seen its price increase by a factor of seven in the past twelve months, and as a result, interest in the crypto has exploded.

在過去的十二個月中，比特幣（BTC）的價格上漲了七倍，因此，對加密貨幣的興趣爆炸了。

However, not everyone is buying into the BTC hype just yet. According to blockchain data, the Bitcoin short-term holders have seen their balance go up in the past month.

但是，並不是每個人都在購買BTC炒作。根據區塊鏈數據，比特幣短期持有人在過去一個月中看到其餘額在上升。

This could be an indication that some profit-taking is taking place in the market, as the cruisers, i.e., investors who purchased their coins between one and twelve months ago, are breaking their dormancy to sell their coins to the traders.

這可能表明市場上正在發生一些盈利，即巡洋艦，即購買硬幣在一個到十二個月前購買硬幣的投資者正在闖入他們的休眠狀態，將硬幣出售給交易者。

Bitcoin Trader Supply Change Is Registering Uptick

比特幣交易者供應變更正在註冊上升

Market intelligence platform IntoTheBlock has discussed the different Bitcoin cohorts and how their supply has changed recently.

市場情報平台Intotheblock討論了不同的比特幣隊列以及它們的供應最近如何變化。

The analytics firm classifies the investors into these groups: ‘traders’ who purchased their coins within the past month, ‘cruisers’ who did so between one and twelve months ago, and ‘HODLers' who have been holding for more than a year.

分析公司將投資者分類為這些群體：在過去一個月內購買硬幣的“交易者”，“巡洋艦”，他們在一個到十二個月前就這樣做了，而“霍德勒人”已經持有一年多了。

Generally, the longer an investor holds onto their coins, the less likely they are to sell them in the future. Thus, the holder resolve gets stronger as one goes from the traders to the HODLers.

通常，投資者持有硬幣的時間越長，將來出售它們的可能性就越小。因此，持有人的決心變得更加強大，因為一個人從交易者到霍德爾人。

Now, here is the chart shared by IntoTheBlock that shows the trend in the net change of the balance held by each of these groups during the past decade:

現在，這是Intotheblock共享的圖表，它顯示了過去十年中每個小組中每個小組持有的餘額的淨變化的趨勢：

As displayed in the above graph, the Bitcoin traders have registered a positive value on this metric recently, suggesting the balance held by the group has gone up.

如上圖所示，比特幣交易者最近在該指標上註冊了正價值，這表明該集團持有的餘額已經上升。

This increase for this cohort has come as BTC has been witnessing a price rally. Whenever the supply of the traders observes a rise, it means members of one or both of the older cohorts are breaking their dormancy.

該隊列的這種增長已經到來，因為BTC一直在目睹價格集會。每當貿易商的供應觀察到上升時，這意味著一個或兩個較舊的人群的成員都在破壞他們的休眠狀態。

Given that the latest surge has coincided with an uplift in the asset’s price, it’s possible that it’s an indication of profit-taking in the market.

鑑於最新的激增與資產價格的提升相吻合，因此這可能表明市場上獲利。

From the chart, it’s visible that the HODLers have also seen a positive change recently, implying these diamond hands are continuing to hold tight. This leaves the cruisers as the only group that can be responsible for the selling, and indeed, the negative balance change would confirm so.

從圖表來看，霍德爾最近也看到了積極的變化，這意味著這些鑽石之手正在繼續保持緊繃。這使巡洋艦成為唯一可以負責銷售的群體，實際上，負餘額的變化將證實。

The cruisers are more resolute than the traders, but even they can be prone to panic selling as they haven’t quite achieved the same stalwartness as the HODLers, so the latest distribution from them may not be too surprising.

巡洋艦比交易者更堅決，但即使他們也很容易出售恐慌銷售，因為它們沒有達到與霍德勒人相同的堅定不移，因此他們的最新發行可能並不令人驚訝。

However, while the profit-taking may not be a positive sign for Bitcoin, the increase in the trader supply could be looked at from a more bullish perspective.

但是，儘管獲利可能不是比特幣的積極信號，但從更看漲的角度來看，交易者供應的增加。

This was seemingly the case back during the rally that occurred in the last couple of months of 2024, where the trader supply change spiked high into the positive territory.

在2024年的最後幾個月發生的集會中，事實似乎就是這種情況，交易員的供應變化越來越高。

“If this influx persists, it supports the view that the current move is more than a relief rally and could be the opening leg of a broader uptrend,” notes the analytics firm.

分析公司指出：“如果這種湧入持續存在，它支持這樣的觀點，即目前的舉動不僅僅是救濟集會，並且可能是更廣泛的上升趨勢的開頭。”