比特币（BTC）连续第四周在实现的大写中打破了历史最高的高位（ATH）

最新的链链数据表明，比特币（BTC）在实现的资本中打破了其历史最高（ATH）

The latest on-chain data reveals that Bitcoin (BTC) has hit a new all-time high (ATH) in realized capitalization for the fourth consecutive week. At the same time, both Bitcoin whales and spot exchange-traded funds (ETFs) are steadily increasing their holdings – a sign of growing investor confidence.

最新的链链数据表明，比特币（BTC）连续第四周在实现的资本中达到了新的历史最高（ATH）。同时，比特币鲸和现货交易所贸易资金（ETF）都在稳步增加其持股，这表明投资者信心不断增加。

According to a recent CryptoQuant Quicktake post by contributor Carmelo_Aleman, Bitcoin’s realized capitalization has surpassed its previous record, reaching over $906 billion as of May 18, 2025. This milestone marks the fourth straight week in which this key on-chain metric has hit a new high.

根据撰稿人Carmelo_aleman的最近一份加密快速帖子，比特币的实现资本化超过了其先前的纪录，截至2025年5月18日，比特币达到了超过90060亿美元的纪录。这一里程碑标志着这个关键的链型计量的第四周，这是一个新的高高。

For the uninitiated, Bitcoin’s realized capitalization is the total value of all BTC in circulation, calculated based on the price each coin last moved rather than the current market price. This metric offers a more accurate reflection of true capital inflow and investor conviction, excluding dormant or lost coins.

对于初学者来说，比特币的实现资本化是所有BTC的总价值，根据每个硬币上次移动的价格而不是当前的市场价格计算得出的总价值。该度量标准更准确地反映了真正的资本流入和投资者定罪，不包括休眠或丢失的硬币。

Carmelo notes that BTC has been consolidating near the daily resistance level of $104,731 for nearly 10 days. During this phase, the leading cryptocurrency has continued to accumulate capital, possibly gearing up for a significant breakout.

卡梅洛指出，BTC在近10天内的每日阻力水平上已巩固在104,731美元的每日电阻水平上。在此阶段，领先的加密货币继续积累资本，可能会为重大突破做好准备。

If BTC can breach this resistance, the next major hurdle lies at $107,757. Clearing this level could open the door to a fresh all-time high, supported by several bullish on-chain signals. Carmelo adds:

如果BTC可以违反这种阻力，那么下一个重大障碍是107,757美元。清除这一水平可能会为新鲜的历史最高高，并由几个看涨的链信号支撑。卡梅洛补充说：

“On May 8, when this range-bound phase began, the total value of all UTXOs was $891,642,358, meaning that in just 10 days, new Bitcoin investments have added $14,399,578, reflecting a 1.61% increase in Realized Capitalization.”

“ 5月8日，当这个距离结合阶段开始时，所有UTXOS的总价值为891,642,358美元，这意味着在短短10天内，新的比特币投资增加了14,399,578美元，反映了已实现资本的增长1.61％。”

According to Bitcoin UTXO Value Bands, the most significant accumulation over the past 10 days has come from wallets holding 100 to 1,000 BTC. These wallets increased their collective holdings from 5.56 million BTC to 5.68 million BTC, representing a 2.20% gain during this period.

根据比特币UTXO值频段的数据，过去10天中最重要的积累来自容纳100至1,000 BTC的钱包。这些钱包将其集体持有量从556万BTC增加到568万BTC，在此期间增长了2.20％。

Among ETFs, BlackRock’s IBIT spot ETF stands out as the only major fund to increase its BTC exposure. Its holdings rose from 621,600 BTC to 631,902 BTC, a 1.66% increase. In contrast, most other ETFs have either taken profits or held their positions steady.

在ETF中，BlackRock的IBIT Spot ETF是增加其BTC暴露的唯一主要基金。它的持股从621,600 BTC上升到631,902 BTC，增长了1.66％。相比之下，大多数其他ETF要么获得利润或保持其位置稳定。

BTC Heading To $120,000?

BTC达到$ 120,000？

As Bitcoin trades just 5.1% below its current ATH, analysts are speculating on potential upside targets for this market cycle. One model, the Wyckoff Accumulation pattern, suggests BTC could top out near $120,000.

随着比特币交易仅比目前的ATH交易5.1％，分析师正在猜测该市场周期的潜在上行目标。 Wyckoff积累模式的一种模型表明，BTC的价格可能接近120,000美元。

This prediction aligns with another analyst's recent statement on May 15, who claimed that BTC could surge to $119,000 if it manages to break through the $104,000 resistance level.

这一预测与另一位分析师在5月15日的最新声明相吻合，后者声称，如果BTC设法突破了104,000美元的阻力水平，BTC可能会飙升至119,000美元。

Further supporting this bullish narrative is the fact that nearly 100,000 BTC has been withdrawn from exchanges over the past three weeks – often a sign of long-term accumulation and reduced selling pressure.

进一步支持这种看涨的叙述的事实是，在过去三周中，将近100,000 BTC从交流中撤回 - 通常是长期积累和减轻销售压力的标志。

At press time, BTC trades at $103,450, down 1.2% in the past 24 hours.

发稿时，BTC的交易价格为103,450美元，在过去24小时内下跌1.2％。