BTC，玻璃節和賣家：有什麼交易？

解碼比特幣的價格動作：賣家失去了蒸汽嗎？玻璃節數據和全球流動性是下一個重大舉措的關鍵。另外，短期持有人是什麼？

Yo, crypto fam! What's the lowdown on Bitcoin? It's been a wild ride, but things have been kinda...stuck lately. Let's break down what's going on with BTC, Glassnode's insights, and those sellers everyone's talking about.

喲，加密貨幣。比特幣的低點是什麼？這是一個瘋狂的旅程，但是事情有點……最近。讓我們分解BTC，GlassNode的見解以及每個人在談論的那些賣家的情況。

Liquidity is the Name of the Game

流動性是遊戲的名稱

The big brains at Glassnode, Yann Allemann and Jan Happel, are saying that global liquidity is the key to unlocking Bitcoin's next major move. They think the market's in a stalemate. Sellers ain't got much firepower, and buyers are chilling on the sidelines. The only thing that's gonna shake things up is a shift in money supply.

GlassNode的大腦，Yann Alemann和Jan Happel說，全球流動性是解鎖比特幣的下一個重大舉措的關鍵。他們認為市場陷入僵局。賣家沒有太多火力，買家在場上感到不寒而栗。唯一會動搖的是貨幣供應的轉變。

Good news? They see liquidity quietly turning back on. They even gave a four-day heads-up before M2 liquidity was expected to bounce. So, the window for bears to drag the market down might be closing.

好消息？他們看到流動性悄悄地重新打開。他們甚至在預計M2流動性反彈之前進行了為期四天的比賽。因此，熊拖下市場的窗口可能正在關閉。

What's M2 Got to Do With It?

M2與它有什麼關係？

M2 liquidity is basically a measure of the money supply in places like the Eurozone and the US. Bitcoin's price tends to follow changes in M2, so this is something to keep an eye on. FRED data showed M2 peaking in April, but it's been holding steady. If Allemann and Happel are right, we could see some bullish momentum soon.

M2流動性基本上是對歐元區和美國等地方的貨幣供應的量度。比特幣的價格傾向於遵循M2的變化，因此這是值得關注的事情。弗雷德（Fred）的數據顯示，M2在4月達到峰值，但一直保持穩定。如果Allemann和Happel是對的，我們很快就會看到一些看漲的勢頭。

Short-Term Holders Feeling the Heat

短期持有人感到熱量

Now, let's talk about those short-term holders. They've been playing a big role in Bitcoin's recent dips. On-chain data shows they're selling at a loss as BTC dips below key support levels. The Short-Term Holder MVRV is below its long-term average, which means they're undervalued relative to realized value.

現在，讓我們談談那些短期持有人。他們在比特幣最近的下降中發揮了重要作用。鏈上的數據表明，由於BTC下降到關鍵支持水平以下，因此他們正在出售。短期持有人MVRV低於其長期平均水平，這意味著相對於實現價值而被低估了。

Basically, these guys are feeling the pressure and selling off. But here's the thing: the broader market is still largely profitable. Over 90% of Bitcoin holdings are in the green, and long-term holders and big institutions are holding steady or even buying the dips. Smart money move, if you ask me.

基本上，這些傢伙感到壓力並賣掉了。但這是事實：更廣泛的市場仍然很大程度上是有利可圖的。超過90％的比特幣持有量是綠色的，長期持有人和大型機構都保持穩定甚至購買跌幅。聰明的錢移動，如果你問我。

Robert Kiyosaki's "Easy Millions"

羅伯特·基亞薩基（Robert Kiyosaki）的“輕鬆數百萬”

Robert Kiyosaki, the "Rich Dad Poor Dad" dude, is all over Bitcoin, calling it the "easiest millions" he's ever made. He's comparing it to the grind of real estate. "No mess, no stress. Just set it and forget it," he says. Sounds good, right? But Glassnode's data shows the market's taking a breather, so keep your eyes open.

羅伯特·基亞薩基（Robert Kiyosaki）是“有錢的爸爸爸爸”杜德（Dude Dude），遍布比特幣，稱其為他製造的“最容易的數百萬”。他將其與房地產的磨削進行了比較。他說：“沒有混亂，沒有壓力。只是設定而忘記它。”聽起來不錯，對吧？但是GlassNode的數據顯示了市場的呼吸器，因此請睜大眼睛。

The Bottom Line

底線

Bitcoin's at a crossroads. Global liquidity, short-term holder behavior, and overall market sentiment are all playing a part. Keep an eye on that M2 supply and watch how the big players are moving. It might just give you a clue about what's coming next.

比特幣在十字路口。全球流動性，短期持有人的行為和整體市場情緒都在發揮作用。密切關注M2供應，並觀察大型球員的移動方式。它可能只會為您提供接下來會發生什麼的線索。

So, there you have it. Bitcoin's a complex beast, but with a little digging and some help from the folks at Glassnode, you can get a handle on what's driving the market. Now go forth and trade wisely (but not *too* wisely, or you'll miss all the fun!).

所以，你有。比特幣是一隻複雜的野獸，但是稍作挖掘和GlassNode的人們的幫助，您可以掌握驅動市場的原因。現在去明智地進行交易（但不是太明智地 *，否則您會錯過所有的樂趣！）。