比特币（BTC）在实现的资本中打破了其历史最高（ATH）

最新的链链数据表明，比特币（BTC）连续第四周打破了其历史上的高高（ATH）。同时，两个比特币鲸和现货交易所贸易资金（ETF）都在稳步增加其持有量

The latest on-chain data reveals that Bitcoin (BTC) has broken its all-time high (ATH) in realized capitalization for the fourth consecutive week.

最新的链链数据表明，比特币（BTC）连续第四周打破了其历史上的高高（ATH）。

This milestone, which occurs as both Bitcoin whales and spot exchange-traded funds (ETFs) are steadily increasing their holdings, underscores the growing investor confidence in the cryptocurrency.

这一里程碑是因为比特币鲸和现货交易所贸易资金（ETF）稳步增加其持股，这强调了投资者对加密货币的信心，这一里程碑正在稳步增加。

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.

根据撰稿人Carmelo_aleman最近的一份加密快速帖子，比特币的实现资本化已经超过了其先前的记录，截至5月18日，比特币的资本化已超过90060亿美元。

This key on-chain metric, which is calculated by summing the value of each BTC coin at the price it last moved, has been incrementally rising throughout the year, offering a more accurate reflection of true capital inflow and investor conviction—as opposed to the total market cap, which includes dormant or lost coins.

这款关键的链链度量是通过以其上次移动的价格概括每个BTC硬币的价值来计算的，全年都在逐步上升，从而更准确地反映了真正的资本流入和投资者的信念，这与总市场上限相反，其中包括重量或损失的硬币或损失的硬币。

As Carmelo explains, 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.

正如卡梅洛（Carmelo）所解释的那样，BTC在近10天内的每日阻力水平上的固结量已接近104,731美元。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.

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。

“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 is based on the size of the BTC accumulation cycle, which is said to be nearing its peak after a seven-month span.

该预测基于BTC累积周期的大小，据说在七个月后将接近其峰值。

Furthermore, 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.

此外，在过去三周中，将近100,000 BTC从交易所中撤回，通常是长期积累和销售压力减轻的迹象。

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％。