比特币（BTC）的价格下跌100000美元

随着价格上涨，比特币在交易所的供应量正在迅速下降。链链数据表明持有的储量

Bitcoin’s price surged above $100,000 on Thursday as on-chain data showed that exchange and over-the-counter (OTC) reserves fell to their lowest levels in years.

由于链数据表明，比特币的价格在周四的100,000美元上涨了100,000美元，该链数据表明，交换和非处方（OTC）储备在多年来的最低水平下降到了最低水平。

Bitcoin exchange and OTC reserves have declined sharply in recent months.

近几个月来，比特币交易所和OTC储量急剧下降。

On-chain data from CryptoQuant shows that Bitcoin held on exchanges and OTC desks has decreased significantly. These sources are commonly used by both retail traders and large institutions for buying or selling.

来自加密素养的链上数据表明，在交易所和OTC桌子上举行的比特币显着下降。这些来源通常被零售商人和大型机构用于买卖。

According to the latest data, Bitcoin reserves on exchanges have fallen below 2.4 million, down from over 3.1 million in mid-2024. OTC desk holdings have also dropped below 120,000 BTC, compared to nearly 480,000 in 2021.

根据最新数据，交易所的比特币储备量低于240万，低于2024年中期的310万次。 OTC Desk Holtings也降至120,000 BTC以下，而2021年的近480,000则降低了。

A falling exchange reserve often means that fewer coins are available to sell on the market. This can occur when investors transfer Bitcoin to cold wallets, indicating long-term holding. As supply on exchanges continues to decrease, it can create pressure on price when demand increases.

下降的交易储备通常意味着在市场上出售的硬币更少。当投资者将比特币转移到冷钱包时，这可能会发生这种情况，表明长期持有。随着交流的供应继续减少，当需求增加时，价格可能会造成价格压力。

According to CryptoQuant, “Sellers are disappearing. Bitcoin held on OTC desks is at levels not seen since before the 2020 bull market.” The drop in available supply has led to predictions of a new supply shock in the market.

据加密夸大说：“卖家正在消失。在2020年牛市之前，在OTC办公桌上举行的比特币处于未知水平。”可用供应的下降导致了市场上新的供应冲击的预测。

Market structure favors continued upside

市场结构有利于上升空间

Market analysts also follow price action patterns and trendlines that support further gains. A recent chart shared by analyst CryptoFaibik shows a stair-step pattern of consolidations and breakouts. The chart highlights three instances of strong bullish continuation formations, each followed by higher price movement.

市场分析师还遵循支持进一步收益的价格行动模式和趋势线。分析师Cryptofaibik共享的最新图表显示了整合和突破的楼梯步骤模式。该图表突出了三个强烈看涨延续地层的实例，每个实例随后是更高的价格变动。

The ascending trendline seen on the chart has held since April, and the price continues to bounce above it. Each breakout has delivered gains between 10% and 13%, with the next target sitting at $114,000. This move would mark a new all-time high for Bitcoin, surpassing the previous peak of around $69,000.

自4月以来，图表上看到的上升趋势线一直在其上方反弹。每个突破的收益在10％至13％之间，下一个目标为114,000美元。这一举动标志着比特币的新历史最高点，超过了先前的高峰约69,000美元。

Current price action suggests bullish momentum remains strong, with the potential for Bitcoin to move above $110,000 in the next upward move.

当前的价格行动表明，看涨的势头仍然很强大，在下一个向上移动中，比特币有可能提高110,000美元。

Bitcoin prices break above $100,000 as reserves dip to new low.

比特币的价格超过$ 100,000，随着储量降至新低点。

A separate model from eMarketer tracks Bitcoin’s 2-Year Simple Moving Average (SMA) multipliers, showing how the asset’s behavior has changed over time. Earlier cycles saw peaks of 15 times the 2Y SMA, during periods of speculative trading. In 2017, Bitcoin peaked at 10× the 2Y SMA, and in 2021, the top was around 5×.

Emarketer的单独模型轨道轨道轨道的两年简单移动平均线（SMA）乘数，显示了资产的行为如何随着时间而变化。在投机交易期间，早期的周期的峰值达到了2y SMA的15倍。在2017年，比特币以10×2Y SMA达到峰值，在2021年，顶部的顶部约为5×。

Bitcoin will likely reach its historical resistance at 2.65× band, the price at the all-time high in 2025. This area was touched in the previous bull run and signaled a peak. At the same time, analysts note that this recent trend is exhibiting greater stability. The pattern currently in place is marked by less volatile price rises and smaller drops than in previous cycles.

比特币可能以2.65×频段的历史阻力（2025年历史最高的价格）达到其历史阻力。该区域在先前的公牛奔跑中受到了触摸，并标志着峰值。同时，分析师指出，这种最近的趋势表现出更大的稳定性。目前所处的模式的标志性的波动价格上涨和下降较小，而不是以前的周期。

Traders are interpreting the gap between price and available supply as an indication that the market is strengthening. The previous cycles were characterized by limited traders, while the latest trend is being propelled by major players like long-term investors and institutions.

贸易商正在将价格和可用供应之间的差距解释为市场正在加强。以前的周期是有限的交易者的特征，而最新趋势是由长期投资者和机构等主要参与者推动的。

The Bitcoin market appears to be maturing and becoming more stable. Stability is being slowly achieved as market participants adopt a long-term view and major players back the market.

比特币市场似乎正在成熟并变得越来越稳定。随着市场参与者采用长期观点，主要参与者支持市场，稳定正在逐渐实现。

If current supply and demand trends continue, analysts expect Bitcoin to reach between $150,000 and $250,000 by late 2025. For now, bullish traders are targeting a breakout above the key resistance level at $114,000.

如果目前的供求趋势继续下去，分析师预计到2025年底，比特币将达到150,000至250,000美元。目前，看涨的商人的目标是以高于关键阻力水平的突破，为114,000美元。

In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.

在本文中，作者或任何人的观点和意见仅是出于信息目的，并且不建立投资，财务或任何其他建议。对加密货币资产进行交易或投资具有财务损失的风险。

Olivia Stephanie is a FinTech enthusiast with a keen understanding of financial markets. Her passion for economics and finance has led her to explore emerging blockchain technology and cryptocurrency markets.

奥利维亚·斯蒂芬妮（Olivia Stephanie）是一位金融科技爱好者，对金融市场有敏锐的了解。她对经济和金融的热情使她探索了新兴的区块链技术和加密货币市场。