尽管达到了新的历史最高水平，但出售的比特币数量下降了

GlassNode报告说，即使比特币达到了新的历史最高水平，但出售的利润仍下降了。比特币在2025年5月有史以来高涨的利润仅为10亿美元

Glassnode's latest data reveals that despite Bitcoin hitting a new all-time high, the amount being sold for profit has dropped.

GlassNode的最新数据表明，尽管比特币达到了新的历史最高水平，但出售的利润却下降了。

At the May 2025 all-time high, Bitcoin’s profit-taking was only $1 billion, compared to over $2 billion in December 2024. Investors’ behavior is different now, even when the price of Bitcoin goes up.

在2025年5月的历史最高水平上，比特币的获利仅为10亿美元，而2024年12月12日，比特币超过20亿美元。即使比特币的价格上涨，投资者的行为现在也有所不同。

In short:🔹 Realized profits are lower in magnitude

简而言之：🔹实现的利润幅度较低

🔹 Long-term holders are holding out

🔹长期持有人坚持不懈

🔹 Short-term traders are driving the market

🔹短期交易者正在推动市场

This combination may signal continued bullish expectations from less speculative BTC investors.

这种组合可能表明，投机性BTC投资者的持续看涨期望。

The data shows a significant shift in Bitcoin’s coin age distribution. As of May 2025, 76.9% of Bitcoins are less than one month old, a sharp increase from 44.6% in December 2024. Meanwhile, coins older than six months have become less active, dropping to 13.4% in May 2025 from 24.7% in December 2024. This suggests short-term traders are dominating the market.

数据显示了比特币硬币年龄分布的重大变化。截至截至2025年5月，比特币的76.9％少于一个月大，比2024年12月的44.6％急剧增长。与此同时，六个月以上的硬币已经降低了活跃，2025年5月从2024年12月的24.7％下降到13.4％。这表明短期交易者在市场上占据了统治地位。

New Traders Power BTC’s Rise

新贸易商Power BTC的崛起

Newer traders seem to be taking the lead, while those holding for a long time have become less active. Those who bought crypto for the long term are probably holding their coins as they expect the market to rise further. As the market booms, traders who only hold assets briefly have the most impact, rather than long-term investors.

较新的商人似乎正在领导领先，而长期以来持有的人则变得不那么活跃。那些长期购买加密货币的人可能会持有硬币，因为他们预计市场将进一步上升。随着市场蓬勃发展，仅持有资产的交易者会产生最大的影响，而不是长期投资者。

Traders in the short term normally trade more and tend to earn less profit. Although they create short-lived difficulties, their actions help Bitcoin’s price grow, giving bulls an advantage. As trading patterns shift, the rise of Bitcoin may depend on fewer speculative investments and more long-term holding.

交易者在短期内通常会更加交易，并且往往会赚取更少的利润。尽管他们造成了短暂的困难，但他们的行动有助于比特币的价格提高，从而使公牛有优势。随着交易模式的变化，比特币的上升可能取决于投机性投资的较少和长期持有。

Bitcoin’s Rise Could Shift Focus to Altcoins

比特币的崛起可能会将重点转移到altcoins

Analyst Michael van de Poppe stated that when Bitcoin reaches $100,000+, investors often feel they missed the best chance to make big profits. As a result, they turn their attention from Bitcoin to other altcoins, believing they can help them gain greater benefits in the future. The analyst explained that this trend is impacting the market, most obviously because of Bitcoin’s recent increase in price. When Bitcoin achieves new records, it could make altcoins the main players in the market.

分析师迈克尔·范德·波普（Michael Van de Poppe）表示，当比特币达到100,000美元以上时，投资者经常感到他们错过了赚大利润的最佳机会。结果，他们将注意力从比特币转移到其他山寨币，认为他们可以帮助他们在将来获得更大的收益。分析师解释说，这种趋势正在影响市场，最明显是因为比特币最近的价格上涨。当比特币获得新的记录时，它可能会使Altcoins成为市场上的主要参与者。

People won't be buying #Bitcoin.They'll think 'Bitcoin is already at $100k+, I won't be rich by simply buying Bitcoin'.

人们不会购买＃比特币。他们会认为'比特币已经以10万美元的价格+，我不会仅仅购买比特币就会变得富有。

That's when they turn towards #Altcoins to allocate their money to.

那是他们转向#altcoins分配金钱的时候。

This period.

这个时期。

As of press time, BTC is trading at $111,545.64, up by 4.24% over the past day. While Bitcoin sets new record prices, people are not selling in large numbers. More attention on altcoins could threaten Bitcoin’s top position in the cryptocurrency sector when the market shifts.

截至发稿时，BTC的交易价格为111,545.64美元，在过去的一天中增长了4.24％。尽管比特币设定了新的创纪录价格，但人们并没有大量销售。当市场发生变化时，人们对替代币的更多关注可能威胁到比特币在加密货币行业中的最高位置。

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