新鲸鱼在加密货币海洋中引起海浪

GlassNode的最新数据表明，将其资产持有24到三个月的新买家现在拥有市场价值的50％。

Recent data from Glassnode shows that new buyers, who have held their assets for 24 hours to three months, now own 50% of the market’s value.

GlassNode的最新数据表明，将其资产持有24到三个月的新买家现在拥有市场价值的50％。

This figure tells an important story about the current state of the crypto market, especially as Bitcoin fluctuates around $100,000. The top cryptocurrency experienced big price changes, going up over $105,000 on Sunday, dropping below $98,000 on Monday, and then increasing by 2.04% on Tuesday.

这个数字讲述了一个关于加密市场当前状态的重要故事，尤其是比特币波动约100,000美元。最高的加密货币经历了巨大的价格变化，周日上涨了105,000美元，周一下降到98,000美元以下，然后在周二增长了2.04％。

New Whales Make Waves In The Cryptocurrency Ocean

新鲸鱼在加密货币海洋中引起海浪

Since mid-2024, the entry of new Bitcoin whales (see CryptoQuant graph below) has significantly changed the market landscape. These heavyweight investors, defined as entities that have held more than 1,000 BTC for less than 155 days, have increased their market share from 17% in July 2024 to 60%.

自2024年中期以来，新的比特币鲸的进入（请参见下面的加密图）已大大改变了市场格局。这些重量级投资者被定义为已有超过1,000 BTC的实体，不到155天，其市场份额从2024年7月的17％提高到60％。

This increase in whale accumulation, which occurred while Bitcoin was trading at $55,000, demonstrates strong institutional confidence despite market volatility.

鲸鱼积累的增加发生在比特币以55,000美元的价格交易时发生的，尽管市场波动，但仍表现出强烈的机构信心。

At 50.2%, the proportion of wealth held by new #Bitcoin investors (24H to 3 months), is still well below the levels seen during previous ATH cycle tops:

新#bitcoin投资者（24小时至3个月）持有的财富比例占50.2％，仍远低于以前ATH周期高层的水平：

?2018 peak: 85% ?2021 peak: 74%https://t.co/hkTSpFVAPG pic.twitter.com/6gcOgIIlvM

?2018峰：85％?2021峰：74％https：//t.co/hktspfvapg pic.twitter.com/6gcogiilvm

— glassnode (@glassnode) January 28, 2025

- 2025年1月28日

Historical Patterns Indicate Potential Upside

历史模式表明潜在上升空间

Previous market cycle analysis shows that we still have a long way to go till peak euphoria. New investors owned a far larger share of market wealth in the 2018 and 2021 market peaks—85% and 74% respectively.

先前的市场周期分析表明，直到高峰欣快峰值还有很长的路要走。新投资者在2018年和2021年的市场峰值中拥有更大的市场财富份额，分别为85％和74％。

Today’s more modest 50.2% figure indicates substantial room for growth before matching historical patterns. The Realized Cap HODL Waves metric reinforces this view, suggesting current accumulation levels remain relatively conservative compared to previous bull markets.

当今更谦虚的50.2％的数字表明，在与历史模式相匹配之前，增长的空间很大。实现的帽子hodl波衡量标准增强了这一观点，这表明与以前的牛市相比，当前的积累水平仍然相对保守。

Market Structure Demonstrates Surprising Resilience

市场结构表现出令人惊讶的弹性

Cryptocurrency experts say that Bitcoin is currently in a crucial trade area. The digital asset faces strong obstacles near $109,000, but it has solid support at $91,700.

加密货币专家说，比特币目前处于关键的贸易领域。数字资产面临着强大的障碍，接近109,000美元，但稳定的支持为91,700美元。

Traders are focusing on these numbers to try to guess the market’s next big change. Market analysts think Bitcoin needs to rise by 70% to reach an overbought level of about $180,000, a goal that has caught the attention of both regular and big investors.

贸易商正在关注这些数字，以猜测市场的下一个重大变化。市场分析师认为，比特币需要上升70％才能达到约180,000美元的过高，这一目标引起了普通投资者和大型投资者的关注。

Critical Support Levels Shape Trading Strategy

关键支持水平形状交易策略

The way the market is set presents an interesting duality. Bitcoin stays above vital support levels, but rejection at upper resistance bands has created a turbulent trading zone.

市场设置的方式表现出有趣的双重性。比特币保持在重要的支撑水平上，但是上阻力带的拒绝创造了一个动荡的贸易区。

Technical specialist Ali Martinez emphasizes the importance of the $91,700 support level since it can decide the near-term price stability of Bitcoin.

技术专家阿里·马丁内斯（Ali Martinez）强调了91,700美元的支持水平的重要性，因为它可以决定比特币的近期价格稳定性。

#Bitcoin $BTC was rejected at the upper red pricing band at $109,400. Failing to reclaim this level shifts focus to the next critical support at the orange MVRV pricing band, currently sitting at $91,700. pic.twitter.com/h0EgU11fWO

#bitcoin $ btc在上层红色定价乐队拒绝了109,400美元。未能收回此级别的重点转移到Orange MVRV定价乐队的下一个关键支持，目前为91,700美元。 pic.twitter.com/h0egu11fwo

— Ali (@ali_charts) January 28, 2025

- Ali（@ali_charts）2025年1月28日

One unique quality of current short-term volatility is that Bitcoin shows significant profits and losses in rapid succession.

当前短期波动率的一种独特质量是，比特币在快速继承中显示出显着的利润和损失。

This unique wealth distribution pattern along with more institutional involvement points to a different course for the present bull market than past cycles.

这种独特的财富分配模式以及与过去的周期相比，目前的牛市的机构投入更大。

Compared to past highs, the lesser amount of wealth under control by new investors could suggest a maturing market with better foundations and maybe more sustainable development patterns.

与过去的高点相比，新投资者所控制的财富量较低，可以表明一个成熟的市场具有更好的基础，甚至更可持续的发展模式。

The proportion between new and experienced investors will be crucial in deciding the next major movement of the market as Bitcoin keeps crossing unexplored territories.

新投资者和经验丰富的投资者之间的比例对于决定市场的下一个重大运动至关重要，因为比特币继续越过未开发的领土。

Featured image from Pexels, chart from TradingView

来自Pexels的特色图像，TradingView的图表