比特币（BTC）购买者仍然占主导地位

比特币（BTC）购买者在交流中仍然占主导地位，因为历史上的高潮充满了异常的乐观。

Key points

关键点

Bitcoin buyer interest remains strong at all-time highs, contrasting with the first touch of $100,000 in 2024.

比特币买家的兴趣在历史最高时期仍然很强，与2024年的100,000美元相反。

The BTC price uptrend “may continue” as a result, CryptoQuant analysis concludes.

加密分析得出结论，BTC价格上涨趋势“可能会继续”。

Bitcoin short-term holders are firmly in the black in a further potential bull market boost.

比特币短期持有人牢固地处于黑色状态，以进一步的牛市增强。

Bitcoin (BTC) buyers are still dominant on exchanges as all-time highs are met with unusual optimism.

比特币（BTC）购买者仍然在交流中占主导地位，因为历史最高的乐观情绪始终是不寻常的。

Data from onchain analytics platform CryptoQuant shows a 90-day cumulative volume delta (CVD) favoring Bitcoin bulls.

来自OnChain Analytics平台加密量的数据显示，有利于比特币公牛的90天累积体积达美（CVD）。

CryptoQuant: BTC price uptrend ‘may continue’

加密量：BTC价格上涨趋势“可能继续”

BTC price all-time highs continue to be met with traders displaying a strong preference for buying over selling despite the market surging 50% in less than two months.

BTC价格历史上的高价仍然与交易者保持满足，尽管市场在不到两个月的时间内市场飙升了50％，但表现出强烈的购买而不是销售。

Analyzing 90-day CVD, CryptoQuant contributor Ibrahim Cosar reveals the extent to which sellers have ceded control during that period.

分析90天CVD的加密贡献者易卜拉欣·卡萨尔（Ibrahim Cosar）揭示了卖方在此期间的控制程度。

“In short: Buy orders (taker buy) have become dominant again. In other words, more buy orders are being placed in the market than sell orders,” he summarizes.

他总结说：“简而言之：买入订单（Taker Buy）再次成为统治。换句话说，在市场上下达更多的买入订单比卖出订单要多。”

CVD measures the difference between buy and sell volume over a three-month period. Until mid-March, sell-side pressure dominated the order book, notably leading to BTC/USD hitting multi-month lows under $75,000 in early April.

CVD在三个月内衡量买卖数量之间的差额。直到3月中旬，卖方压力占主导地位，尤其是导致BTC/USD在4月初达到了多个月低于75,000美元的低点。

Neutral conditions then prevailed until buyer dominance returned in May.

然后，中立条件盛行，直到买方在5月返回。

“The summary of the situation: As the price tests above $110K and reaches a new all-time high (ATH), buyers have not backed down. This could be setting the stage for another wave of upward movement,” Cosar concludes.

卡萨尔总结说：“情况的摘要：随着价格测试超过$ 11万美元，并达到了新的历史最高水平（ATH），买家没有退缩。这可能是为另一波向上移动的阶段奠定基础。”

Bitcoin hodlers hold off on sales

比特币霍德尔（Hodlers）坚持销售

As Cointelegraph reported, hodlers have broadly refrained from distributing coins to the market at current levels.

正如CoIntelegraph所报道的那样，Hodlers广泛地避免将硬币分配到当前水平。

Related: Bitcoin ‘looks exhausted’ as next bear market yields $69K target

相关：比特币“看起来疲惫”，因为下一个熊市的目标是$ 69K的目标

Daily profit-taking is half of what it was when Bitcoin first reached $100,000 in December 2024, research shows, while the price is 10% higher.

研究表明，每日盈利是比特币在2024年12月首次达到100,000美元的一半，而价格高出10％。

“Older coins were much less active this time, signaling stronger holding behavior,” onchain analytics firm Glassnode added in an X thread on the topic.

“这次，较旧的硬币的活跃程度要少得多，这表明了持有行为的强烈，” OnChain Analytics公司的玻璃节在该主题的X线程中添加了。

Coin age distribution shows the shift:🔺 76.9% (May 2025)🔻 44.6% (Dec 2024)>6m-old coins:🔻 13.4% (May 2025)🔺 24.7% (Dec 2024)Older coins were much less active this time, signaling stronger holding behavior. pic.twitter.com/8PZq8p3ZX7

硬币年龄分布显示了转移：🔺76.9％（2025年5月）🔻44.6％（2024年12月）> 6m龄的硬币：🔻13.4％（2025年5月）🔺24.7％（2024年12月2024年）较旧的硬币这次的活跃程度降低了，这是这次的活跃程度较低，信号更强。 pic.twitter.com/8pzq8p3zx7

CryptoQuant notes that price momentum increased after reclaiming the average cost basis for Bitcoin’s short-term holder (STH) cohort at just under $100,000 — entities buying within the last six months.

CryptoQuant指出，在收回比特币短期持有人（STH）队列的平均成本基础之后，价格势头增长，价格不到100,000美元，这是在过去六个月内购买的实体。

“Bitcoin is rallying after reclaiming the Short-Term Holder Average Cost basis — a key level that often serves as a strong buy-the-dip indicator during bull markets,” it told X followers.

它告诉X追随者：“在收回短期持有人的平均成本基础之后，比特币正在集会 - 这是一个关键水平，通常在牛市期间用作强有力的买入指标。”

This article does not contain investment advice or recommendations. Every investment and trading move involves risk and readers should conduct their own research when making a decision.

本文不包含投资建议或建议。每个投资和交易举动都涉及风险，读者在做出决定时应进行自己的研究。