比特幣礦工的拋售冷卻 - 這對市場意味著什麼？

來自加密分析公司Alphractal的新數據表明，比特幣礦工在一年多以來表現出最強的保持行為跡象。

Bitcoin (BTC) miners are displaying their strongest signs of holding behavior in over a year, according to crypto analytics firm Alphractal.

根據Crypto Analytics公司Alphractal的說法，比特幣（BTC）礦工在一年以上顯示其保持行為的最強跡象。

Their proprietary indicator, which tracks miner activity to detect changes in selling pressure, has reached its lowest levels since early 2024. This suggests that miners are becoming increasingly reluctant to sell their BTC reserves.

他們的專有指標跟踪礦工活動以檢測銷售壓力的變化，自2024年初以來已達到其最低水平。這表明礦工越來越不願意出售其BTC儲備。

The indicator compares recent 30-day Bitcoin outflows from miner wallets to average reserve levels. A decrease in this ratio typically indicates growing confidence among miners and is often seen as a bullish signal for price stability or upward momentum.

該指標將最近30天的比特幣從礦工錢包流出到平均儲備水平。該比率的下降通常表明礦工的信心越來越大，通常被視為價格穩定或向上勢頭的看漲信號。

However, Alphractal notes that this calm may be temporary. A substantial shift in Bitcoin’s price could reignite selling interest, especially if opportunities for profit-taking arise.

但是，字形指出，這種平靜可能是暫時的。比特幣價格的實質轉變可能會重新點燃銷售利息，尤其是在出現利潤的機會時。

Despite BTC’s recent return above $103,000, futures market activity hasn’t quite kept pace. Open interest in Bitcoin derivatives stands at $61.3 billion—lower than past benchmarks, which reached around $68 billion at similar price levels.

儘管BTC最近的回報率超過103,000美元，但期貨市場活動並未完全保持步伐。對比特幣衍生產品的開放興趣為613億美元，比過去的基準要低，該基準的價格高於680億美元。

Analysts say this gap is due to a prolonged wave of liquidations and a more cautious approach among market participants, including less leverage from institutional players.

分析人士說，這一差距是由於清算的長時間浪潮以及市場參與者的更加謹慎的方法，包括機構參與者的槓桿率較小。

Moreover, Alphractal’s whale trend indicator shows a decrease in large long positions, which could signal that some deep-pocketed investors are exiting or preparing for a possible correction.

此外，字形的鯨魚趨勢指標顯示出長長的長位置的下降，這可能表明某些貨運的投資者正在退出或為可能的糾正做準備。

If this downtrend continues, the market might experience a phase of sideways movement or even a short-term pullback.

如果這種下降趨勢繼續下去，市場可能會經歷側向運動的階段，甚至短期回落。