比特幣（BTC）市場證人的所有權顯著轉移，因為短期持有人加載了BTC

由於短期持有人加載了BTC的積累，最近的價格行動似乎引發了比特幣所有權的顯著轉變。

Bitcoin’s price experienced a slight recovery, reaching the $102,000 price level, indicating growing upside momentum. However, the flagship asset encountered strong resistance around the $102,000 threshold, leading to a price retracement toward key support levels.

比特幣的價格略有恢復，達到了102,000美元的價格水平，表明上升的勢頭。但是，旗艦資產在102,000美元的門檻左右遇到了強烈的抵抗，從而導致價格回溯到關鍵支持水平。

As Bitcoin’s price continues to fluctuate, strong bullish sentiment and activity have been observed among short-term holders.

隨著比特幣的價格繼續波動，在短期持有人之間觀察到了強烈的看漲情緒和活動。

A Shift In Bitcoin Ownership

比特幣所有權的轉變

Recent price actions appear to have triggered a notable shift in Bitcoin ownership as short-term holders increase their accumulation of BTC. Alphractal, an advanced data analytics and investment platform, identified the change in ownership, suggesting growing confidence among BTC retail investors.

由於短期持有人增加了BTC的積累，最近的價格行動似乎引發了比特幣所有權的顯著轉變。高級數據分析和投資平台Alphractal確定了所有權的變化，這表明BTC零售投資者的信心越來越大。

Data from the platform shows that long-term holders have sold a significant amount of BTC, while short-term holders step in to absorb the supply. This change typically comes when long-term holders, such as early investors or institutions, reduce their holdings, allowing short-term holders who are keen to capitalize on possible gains to buy more coins.

該平台的數據表明，長期持有人已經出售了大量BTC，而短期持有人則介入以吸收供應。這種變化通常是在長期持有人（例如早期投資者或機構）減少其持股的情況下才會出現的，這使他們渴望利用可能的收益來購買更多硬幣的短期持有人。

The massive sell-offs from long-term investors are considered a profit-taking strategy, indicating pessimism in BTC’s long-term performances among these investors. However, the huge accumulation by short-term holders reflects strong optimism about BTC’s short-term potential.

長期投資者的大量拋售被認為是一種盈利策略，表明BTC在這些投資者中的長期表現中的悲觀情緒。但是，短期持有人的巨大積累反映了對BTC短期潛力的強烈樂觀。

After analyzing the Bitcoin Supply Age Bands metric, Alphractal highlighted that history might be repeating itself once again as short-term sentiment grows.

在分析了比特幣供應年齡段公制後，字母強調，隨著短期情緒的增長，歷史可能再次重複。

As observed in past cycles, long-term participants become less interested in holding their previously acquired BTC, ultimately leading them to sell their coins. In the current cycle, these investors are beginning to offload their holdings at a large scale.

正如過去的周期中所觀察到的那樣，長期參與者對持有以前獲得的BTC的興趣降低，最終導致他們出售硬幣。在當前週期中，這些投資者開始大規模卸載其持股。

On the other hand, short-term holders have shown to be more reactive and make riskier decisions because they purchase precisely during price spikes. Should these investors continue to accumulate BTC, the development could impact market volatility and shape the asset’s next major price move.

另一方面，短期持有人已顯示出更具反應性並做出更風險的決定，因為它們是在價格上漲期間精確購買的。如果這些投資者繼續積累BTC，則該開發可能會影響市場的波動，並塑造資產的下一個主要價格轉移。

Short-term holders may be capitalizing on recent pullbacks, but Alphractal highlights that long-term holders tend to be smarter investors. This is due to a higher possibility of growth in the long term. These investors take advantage of the rising BTC prices to sell their positions, with a lower average buy price.

短期持有人可能會利用最近的回調，但字性凸顯了長期持有人往往是更明智的投資者。這是由於長期增長的可能性更高。這些投資者利用BTC價格上漲的價格出售其頭寸，平均買入價格較低。

BTC’s Market Still Bullish As Profitability Remain At Good Levels

BTC的市場仍然看漲，因為盈利能力保持良好

Despite significant corrections, BTC’s profitability remains at positive levels. Data shared by Axel Adler Jr., a macro researcher and author, shows that Bitcoin’s average realized profit, net average realized profit, and average realized losses are valued at $911 million, $653 million, and $258 million respectively.

儘管進行了重大糾正，但BTC的盈利能力仍處於正面水平。宏觀研究人員和作者Axel Adler Jr.共享的數據表明，比特幣的平均實現利潤，平均實現的利潤淨利潤，平均實現的損失的價值分別為9.11億美元，6.53億美元和2.58億美元。

Considering the profitability levels, Axel Adler claims that the BTC market still remains in a bullish phase. According to the expert, the current consolidation will likely come to an end when the Net Realized Profit/Loss (USD) 7DMA inches closer to zero or goes negative. This would imply that most sellers have already left the market, which is common during the final stage of a correction, leaving only panic-driven selling.

考慮到盈利水平，阿克塞爾·阿德勒（Axel Adler）聲稱BTC市場仍然處於看漲階段。據專家稱，當淨實現損益（USD）7DMA英寸更接近零或負數時，目前的合併可能會結束。這意味著大多數賣家已經離開了市場，這在更正的最後階段很常見，只留下恐慌驅動的銷售。