比特幣礦工儲備觸及多年低點

比特幣礦工儲備低是一個看漲指標。持有較少比特幣的礦工表示，他們可能已經出售了大量比特幣來支付採礦費用，從而降低了直接的拋售壓力。

Data from IntoTheBlock shows a gradual drop in BTC miner reserves. At the beginning of the year, miner reserves sat at 1.95 million BTC. This has since dropped to 1.90 million coins, the lowest level recorded in 14 years.

IntoTheBlock 的數據顯示，BTC 礦商儲備逐漸下降。今年年初，礦商儲備量為 195 萬個比特幣。此後，這一數字已降至 190 萬枚，為 14 年來的最低水平。

However, despite the drop in miner reserves, the fiat value of their holdings has remained high, reaching a record peak of $135 billion. This indicates that miners are prioritizing short-term profitability, evidenced by their high selling activity, which is currently at its highest level since March.

然而，儘管礦商儲備金下降，但其持有的法幣價值仍然很高，達到 1,350 億美元的歷史新高。這表明礦商正在優先考慮短期盈利能力，其高拋售活動證明了這一點，目前拋售活動處於 3 月以來的最高水平。

According to QuintenFrancois, an analyst at X, the miner behavior is reminiscent of the last halving cycle, with the analysis suggesting that Bitcoin could potentially break the current pattern after 150 days.

X 分析師 QuintenFrancois 表示，礦工的行為讓人想起上一次減半週期，分析顯示比特幣有可能在 150 天後打破當前格局。

The high miner selling activity is largely attributed to the need to cover mining expenses, especially after the halving event, which reduces mining rewards by half.

礦工的高拋售活動很大程度上歸因於需要支付挖礦費用，特別是在減半事件之後，挖礦獎勵減少了一半。

Meanwhile, as Bitcoin continues to trade rangebound and miner reserves hit multi-year lows, some analysts believe that an uptrend may be imminent.

同時，隨著比特幣持續區間波動且礦商儲備觸及多年低點，一些分析師認為上升趨勢可能即將到來。

According to Michael van de Poppe, BTC has bottomed at the $63K-$65K range, and the only trend expected is an uptrend.

Michael van de Poppe 表示，BTC 已觸底 6.3 萬美元至 6.5 萬美元區間，唯一預期的趨勢是上升趨勢。

The bullish outlook was also shared by Dann Crypto Trades, who observed that Bitcoin’s spot premium has returned to healthy levels.

Dann Crypto Trades 也認同看漲前景，他觀察到比特幣的現貨溢價已恢復到健康水準。

The spot premium indicates the price difference between BTC traded on the spot market and futures markets. A positive spot premium signifies a higher immediate demand for Bitcoin in the spot market.

現貨溢價表示現貨市場交易的 BTC 與期貨市場交易的 BTC 之間的價格差異。正的現貨溢價意味著現貨市場對比特幣的直接需求更高。