比特币长期持有者供应目前正在迅速增长

链上数据显示，比特币长期持有者的供应量在过去一个月出现大幅净增长。

Fresh on-chain data shows that Bitcoin long-term holders have seen their supply register a sharp net increase over the past month.

最新的链上数据显示，比特币长期持有者的供应量在过去一个月出现大幅净增长。

Bitcoin Long-Term Holder Supply Is Rapidly Growing Right Now

比特币长期持有者供应目前正在迅速增长

As explained by CryptoQuant community manager Maartunn in a new post on Medium, BTC supply has recently been maturing into the long-term holder cohort. The “long-term holders” (LTHs) refer to those Bitcoin investors who have been holding onto their coins since more than 155 days ago.

正如 CryptoQuant 社区经理 Maartunn 在 Medium 上的一篇新文章中所解释的那样，BTC 的供应最近已逐渐成熟，进入长期持有者群体。 “长期持有者”（LTH）是指那些自 155 天前以来一直持有比特币的投资者。

The LTHs make up one of the two main divisions of the BTC sector done on the basis of holding time, with the other cohort being known as the “short-term holders” (STHs). The STHs generally represent the fickle-minded side of the market, while the LTHs contain the resolute hands.

LTH 构成了 BTC 行业根据持有时间划分的两个主要部分之一，另一类被称为“短期持有者”（STH）。 STH 通常代表市场变化无常的一面，而 LTH 则代表坚定的一面。

There are many indicators for tracking the behaviors of these two groups, one such indicator being the LTH Net Position Change. This metric measures, as its name implies, the net changes in the combined supply held by the HODLers. When this metric’s value is positive, it means the LTH supply is rising. On the other hand, if it is below zero, it suggests a net number of coins are exiting this cohort’s holdings.

有许多指标可以跟踪这两个群体的行为，其中之一就是 LTH 净头寸变化。顾名思义，该指标衡量的是 HODLers 持有的总供应量的净变化。当该指标的值为正时，意味着 LTH 供应量正在上升。另一方面，如果它低于零，则表明净数量的代币正在退出该群体的持有。

Now, here is a chart that shows the trend in the 30-day Bitcoin LTH Net Position Change over the history of the cryptocurrency:

现在，下面的图表显示了该加密货币历史上 30 天比特币 LTH 净头寸变化的趋势：

As displayed in the above graph, the 30-day Bitcoin LTH Net Position Change had plunged to sharp negative values as the BTC price had rallied to a new all-time high (ATH) in the first quarter of the year. This would suggest that even these investors, who don’t tend to sell easily, couldn’t escape the allure of profit-taking that came with the rally. This profit-taking from the diamond hands had gone on for a while, even when the coin had topped out.

如上图所示，随着 BTC 价格在今年第一季度反弹至历史新高（ATH），30 天比特币 LTH 净头寸变化已暴跌至大幅负值。这表明，即使是这些不轻易抛售的投资者，也无法摆脱股市上涨带来的获利回吐的诱惑。钻石手中的获利了结已经持续了一段时间，甚至在代币已经见顶时也是如此。

In recent months, however, the metric has shown a turnaround, with an especially large spike coming during the past month. Over the last thirty days, the supply of the LTHs has grown by 959,000 BTC, which is quite a significant amount. Something not to be misinterpreted, though, is what this positive Net Position Change spike indicates. The LTHs haven’t ‘bought’ anything with this spike, all that has happened is that some coins, which were purchased 155 days ago, have now been held long enough to qualify for this group.

然而，近几个月来，该指标出​​现了好转，过去一个月出现了特别大的峰值。在过去的 30 天里，LTH 的供应量增加了 959,000 BTC，这是一个相当大的数字。不过，净头寸变化的正值飙升表明了一些不容误解的事实。 LTH 并未因此次飙升而“购买”任何东西，所发生的只是 155 天前购买的一些代币现在已持有足够长的时间，有资格加入该组。

While HODLer accumulation has this 155-day delay attached to it, the same isn’t true for selling. Coins exit out of the LTH supply as soon as they break their dormancy through a transaction on the network, so selling can be considered to be reflected instantly on the indicator.

虽然 HODLer 的积累有 155 天的延迟，但卖出却并非如此。一旦通过网络上的交易打破休眠状态，代币就会退出 LTH 供应，因此可以认为卖出立即反映在指标上。

The diamond hands may or may not have participated in Bitcoin ‘buying’ recently, but the fact that coins are maturing on the network is still a positive sign in any case, as it suggests the investors are willing to HODL right now.

钻石手最近可能参与也可能没有参与比特币“购买”，但比特币在网络上成熟的事实无论如何仍然是一个积极的信号，因为它表明投资者现在愿意持有比特币。

BTC Price

比特币价格

Bitcoin has declined by another 3% over the last 24 hours, now coming down to the $60,800 mark.

比特币在过去 24 小时内又下跌了 3%，目前已跌至 60,800 美元大关。