比特币[BTC]失去了与黄金的相关性，但这个故事还有更多

比特币[BTC]继续巩固超过100,000美元的大关，在图表上的范围内范围内。

Bitcoin [BTC] has continued to consolidate above the $100,000 mark, moving within a range-bound level on the chart. This consolidation, following a notable price breakout, implies that buying activity has remained on the high side.

比特币[BTC]继续巩固超过100,000美元的大关，在图表上的范围内范围内。在著名的价格突破之后，这种合并意味着购买活动仍然处于高处。

However, there has been a shift in the crypto market, which could affect the asset’s liquidity and correlation with other assets.

但是，加密市场发生了变化，这可能会影响资产的流动性和与其他资产的相关性。

Now, reports from Glassnode suggest that Bitcoin has lost its correlation with Gold, based on the 30-day chart. The analysis shows that the correlation between both assets now stands at negative 0.54, marking its lowest level since February 2025.

现在，GlassNode的报告表明，基于30天的图表，比特币失去了与黄金的相关性。分析表明，两个资产之间的相关性现在为负0.54，标志着其自2025年2月以来的最低水平。

A close look at the chart shows that the last time this occurred, there was a significant liquidity outflow from Bitcoin, while Gold saw a notable inflow.

仔细查看图表表明，这是最后一次发生的情况，比特币有大量的流动性流出，而黄金则看到了显着的流入。

Between November and December, when the 30-day correlation dropped to this level, Bitcoin surged while Gold declined.

在11月至12月之间，当30天的相关性下降到该水平时，比特币在黄金下降时飙升。

Given these contrasting market movements, AMBCrypto examined additional factors to assess Bitcoin’s potential trajectory.

鉴于这些对比鲜明的市场运动，Ambcrypto检查了其他因素，以评估比特币的潜在轨迹。

What does liquidity flow tell us?

流动性流动告诉我们什么？

Two key metrics were used to determine the liquidity flow in the market: Exchange Reserve and Exchange Netflow.

使用两个关键指标来确定市场流动性流量：交易储备和交换NetFlow。

The Exchange Reserve simply calculates the amount of the asset available on exchanges. A drop in this metric implies there are fewer Bitcoin on exchanges, increasing the tendency for holding and reducing immediate selling pressure.

交易储备只需计算交易所可用的资产金额。该度量标准的下降意味着交易所的比特币较少，增加了保持和减少立即销售压力的趋势。

At the time of writing, the Exchange Reserve has dropped to a new all-time low of approximately 2.43 million Bitcoin.

在撰写本文时，交易储备已降至新的历史最低点，约为243万比特币。

Not only has the Bitcoin reserve continued to drop, but the amount of Bitcoin being bought has also been on the rise. This is confirmed by the Exchange Netflow, which measures the difference between buying and selling activity for Bitcoin in the market. When the netflow is red, it means more Bitcoin has been bought than sold. When it’s green, it implies there is more selling than buying.

比特币储备不仅继续下降，而且购买的比特币数量也在增加。 Exchange Netflow证实了这一点，该净流量衡量了市场上比特币的买卖活动之间的差异。当Netflow为红色时，这意味着比特币要比出售的更多。当它是绿色的时候，它意味着销售多于购买。

Observing the chart closely, more red has appeared, confirming strong purchase sentiment.

仔细观察图表，出现了更多的红色，证实了强烈的购买情绪。

If this buying trend continues, alongside a drop in reserves and a more negative netflow, it could significantly support further upward movement.

如果这种购买趋势继续下去，随着储量下降和更负面的净流，它可以大大支持进一步的向上移动。

What does cooling whale activity mean?

冷却鲸活动意味着什么？

Whale activity on exchanges has continued to drop, particularly in the past 24 hours, plunging to a new low. This could suggest several things. However, based on current market activity, it’s likely that whales are preparing for long-term holding.

交流的鲸鱼活动持续下降，尤其是在过去的24小时中，跌至新的低点。这可能会暗示几件事。但是，基于当前的市场活动，鲸鱼可能正在为长期持有做准备。

This forecast aligns with the decline in exchange reserves, suggesting that whales who previously accumulated large amounts of Bitcoin have yet to move their holdings.

这一预测与交换储量的下降保持一致，这表明以前积累了大量比特币的鲸鱼尚未移动其持股。

If this holding trend persists, it could strengthen BTC’s potential for an upward breakout, possibly surpassing its current consolidation phase.

如果这种保持趋势持续下去，它可能会增强BTC向上突破的潜力，可能会超过其当前的整合阶段。