比特币（BTC）长期持有者结束抛售热潮，策略发生变化

比特币 (BTC) 的长期持有者似乎结束了他们的抛售热潮，这一策略的改变首次帮助将 10 万美元的心理阻力位转变为支撑位。

People who have owned bitcoin (BTC) for more than 155 days, on average, have been identified as long-term holders. They are considered "smart money" because they tend to buy when bitcoin prices are depressed and sell into strength, a pattern that's been observed over the past four months, according to CoinDesk research in December.

平均持有比特币 (BTC) 超过 155 天的人被确定为长期持有者。他们被认为是“聪明的钱”，因为他们倾向于在比特币价格低迷时买入，然后在价格上涨时卖出，根据 CoinDesk 12 月份的研究，过去四个月观察到了这种模式。

In September, this cohort held 14.2 million BTC. It now holds 13.1 million BTC. While the investors held back around the start of the year, sales have picked up again in recent days as the price rose, though at a reduced pace.

9 月份，该群体持有 1420 万比特币。目前持有 1310 万比特币。尽管投资者在今年年初有所犹豫，但随着价格上涨，最近几天销量再次回升，尽管速度有所放缓。

The trend to watch out for is when they stop selling. This tends to mark a top in the cycle, which has occurred in 2013, 2017, 2021 and 2024.

需要留意的趋势是它们停止销售的时间。这往往标志着周期的顶部，该周期曾在 2013 年、2017 年、2021 年和 2024 年出现。