比特幣（BTC）面臨市場下滑，因為新地址見證了急劇下降

隨著一般加密市場的表現，比特幣（BTC）的市場動態和情感正在轉向負面的一面

Bitcoin (BTC) price action has been trending in the red for the past few weeks, leading to a shift in market dynamics and sentiment. As BTC’s price movements are hindered by bearish market conditions, several technical aspects are revealing insights into the asset’s performance.

在過去的幾周中，比特幣（BTC）的價格行動一直在紅色中流行，導致市場動態和情感發生了變化。由於看跌市場條件阻礙了BTC的價格變動，因此一些技術方面揭示了對資產業績的見解。

One key observation is a significant drop in new Bitcoin addresses, which has slowed down the network growth. This slowdown in adoption raises concerns about BTC’s ability to attract fresh capital and maintain broader adoption in the short term.

一個關鍵的觀察結果是新的比特幣地址大幅下降，這減慢了網絡的增長。採用的這種放緩引起了人們對BTC吸引新資本並在短期內保持更廣泛採用的能力的擔憂。

According to Ali Martinez, a veteran technical expert and investor, the monthly average of new Bitcoin addresses has fallen below the annual average, indicating a drop in on-chain activity. He adds that this trend is typically linked to a reduction in network utilization and weaker network fundamentals.

根據資深技術專家和投資者阿里·馬丁內斯（Ali Martinez）的說法，新的比特幣地址的平均每月平均水平低於年平均水平，這表明鏈上活動的下降。他補充說，這種趨勢通常與網絡利用率的降低和網絡基本面較弱有關。

Other factors that could be contributing to the drop are fluctuating market conditions and investors’ waning confidence in BTC’s future performance, as seen among short-term holders. Short-term BTC holders appear to have sold some of their holdings due to the lackluster price movements.

可能導致下降的其他因素是市場狀況的波動和投資者對BTC未來績效的信心，如短期持有人所見。由於價格不足，短期BTC持有人似乎已經出售了一些持股。

On-chain and technical analyst Darkfost reported that short-term holders realized significant losses in a single day. The discovery was made after investigating the Bitcoin Short-Term Holder P&L to Exchanges in the 1-day time frame.

鏈上和技術分析師DarkFost報告說，短期持有人在一天內意識到巨大的損失。這一發現是在研究比特幣短期持有人損益者損益表以在為期1天的時間範圍內進行交換後做出的。

With these holders seeing substantial losses, this implies that many coins bought in the past few months are being sold at a loss. These short-term investors continue to feel the pressure of Bitcoin’s bearish trend, leading to panic selling.

由於這些持有人看到了巨大的損失，這意味著過去幾個月購買的許多硬幣正在虧本出售。這些短期投資者繼續感受到比特幣看跌趨勢的壓力，導致恐慌銷售。

Darkfost adds that these investors may have panic-sold some of their coins in response to the recent news about the Bybit hack during the weekend, which sent shockwaves in the entire crypto sector. However, he claims that capitulation events in the short term have usually signaled a local bottom.

DarkFost補充說，這些投資者可能會在周末對最近有關Bybit Hack的新聞進行恐慌銷售的硬幣，後者在整個加密貨幣領域都引發了衝擊波。但是，他聲稱短期內的投降事件通常標誌著局部底部。

Another observation is a decline in accumulation by small Bitcoin addresses, which are typically defined as those holding less than 1 BTC. Macro researcher Axel Adler Jr. pointed out that small investors, or "shrimp" addresses, are not accumulating.

另一個觀察結果是小比特幣地址的積累下降，通常定義為持有小於1 BTC的人。宏觀研究員Axel Adler Jr.指出，小型投資者或“蝦”地址沒有積累。

This decrease reflects a noticeable shift in retail investor sentiment and behavior as they are being cautious about Bitcoin. Typically, retail investors accumulate coins during bull markets, but this is not the case right now.

這種減少反映了零售投資者情緒和行為的明顯轉變，因為它們對比特幣謹慎。通常，散戶投資者在牛市期間積累了硬幣，但事實並非如此。

In essence, this signals fading interest and confidence among these investors. Also, It implies that big or long-term BTC investors are driving the recent moves in the market.

從本質上講，這表明這些投資者之間的興趣和信心消失了。此外，這意味著大或長期的BTC投資者正在推動市場上最近的舉動。