比特幣（BTC）網絡活動看到交易的下降，達到新的一年低點

鏈上數據顯示，比特幣（BTC）網絡活動的顯著下降，達到了一年的新低。每日交易已經下降

Bitcoin (BTC) network activity has reached a new one-year low, according to on-chain data. Daily transactions have dropped from an all-time high of 734,000 in September 2024 to 346,000, a 53% decline.

根據鏈數據，比特幣（BTC）網絡活動已達到一年的新低點。每日交易已從2024年9月的歷史最高點734,000下降到346,000，下降了53％。

The CryptoQuant Bitcoin Network Activity Index now stands at 3,760, the lowest it has been since February 2024.

現在，加密比特幣網絡活動指數為3,760，是自2024年2月以來最低的。

According to the index, overall Bitcoin network activity has declined by 15% since peaking in November 2024, and its current level at 3760 is the lowest it has been in a year. Daily transactions have also more than halved, a decline that could signal a potential weakness in the cryptocurrency’s fundamentals.

根據該指數，自2024年11月達到頂峰以來，總體比特幣網絡活動已下降15％，目前的水平為3760是一年以來最低的。每日交易的減少了一半，這一下降可能表明加密貨幣的基本面潛在弱點。

Bitcoin transaction decline in detail

比特幣交易詳細下降

At its height, the Bitcoin network recorded over 734,000 daily transactions. However, as of today, February 5, 2025, it recorded a record low of just 346,000, an over 53% drop.

在其高峰期，比特幣網絡記錄了每日734,000多個交易。然而，截至2025年2月5日，它的創紀錄低僅為346,000，下降了53％以上。

This decline is not occurring in a vacuum. The leading cryptocurrency is feeling the effects of several macroeconomic forces, including the economic policies of U.S. President Donald Trump and the fading hype around the Runes protocol.

這種下降並不是真空中發生的。領先的加密貨幣正在感受到幾個宏觀經濟力量的影響，包括美國總統唐納德·特朗普的經濟政策以及圍繞符文協議的淡出炒作。

The tariffs introduced by the Trump presidency on Canada, Mexico, and China sent shockwaves throughout the global financial markets, causing stocks and cryptos to fall. BTC lost about 7.5% in a day, dropping to $91,969. Tariffs and trade restrictions often lead people to seek out asset classes that are viewed as safe and less volatile, such as the U.S. dollar. As a result, they tend to avoid more volatile assets like BTC, causing them to lose value.

特朗普總統對加拿大，墨西哥和中國提出的關稅在整個全球金融市場上造成了衝擊波，導致股票和加密貨幣下降。 BTC一天損失了約7.5％，跌至91,969美元。關稅和貿易限制通常會導致人們尋找被視為安全且波動性較小的資產類別，例如美元。結果，它們傾向於避免像BTC這樣的揮發性資產，從而導致它們失去價值。

The Runes protocol was introduced in April 2024, facilitating the creation and trading of fungible tokens on the Bitcoin network, which caused a spike in transactions on the network. At its peak, Rune protocol saw over 800,000 transactions daily. However, on-chain data shows this has declined to about 10,000 daily, a dramatic decline of 98%, which shows that interest in the protocol has also waned.

符文協議於2024年4月推出，促進了比特幣網絡上可及代幣的創建和交易，這引起了網絡交易的激增。在其頂峰時，符文協議每天有80萬筆交易。但是，鍊鍊數據顯示，每天下降約10,000，急劇下降了98％，這表明對協議的興趣也減弱了。

Another indicator of declining Bitcoin network activity is the near-empty mempool, a backlog of unconfirmed transactions on the blockchain. According to CryptoQuant, the mempool had an average of 287,000 unconfirmed transactions at the end of 2024. However, that number is now 3,000, an alarming 99% drop.

比特幣網絡活動下降的另一個指標是近距離的Mempool，這是區塊鏈未確認的交易的積壓。據CryptoFuant稱，Mempool在2024年底平均有287,000個未經證實的交易。但是，這一數字現在為3,000，令人震驚的99％下降。

It should also be noted that the last time the mempool was this empty was in March 2022, during the crypto winter.

還應注意的是，孟買的上一次是空的是在2022年3月在加密冬季。

Bitcoin price vs network activity: preparing for another crypto winter?

比特幣價格與網絡活動：為另一個加密冬季做準備嗎？

BTC has been caught in a declining trend, with on-chain activities going from 11-month lows to setting the unwanted record of hitting 12-month depths.

BTC陷入了趨勢下降的趨勢，鏈上的活動從11個月的低點到創下了不需要的擊中12個月深度的記錄。

According to CryptoQuant, BTC is currently overvalued on the Metcalfe Valuation Bands valuation model, which estimates that the value of BTC should be between the $48,000 and $95,000 ranges. This, combined with decreased network activity similar to levels seen in the crypto winter of 2022, indicates that Bitcoin may be due for a correction.

根據CryptoQuant的說法，BTC目前在Metcalfe評估頻段評估模型上被高估了，該模型估計BTC的價值應在48,000美元至95,000美元之間。這加上與2022年加密冬季中的水平相似的網絡活動的降低，表明比特幣可能要進行校正。

While the Trump-imposed tariffs might have hit BTC, it should also be noted that tariffs are inflationary. BTC has historically been viewed as a hedge against inflation, which could translate to more demand and value for BTC in the long run.

雖然受特朗普施加的關稅可能已經達到了BTC，但還應注意，關稅是通貨膨脹的。從歷史上看，BTC一直被視為抵制通貨膨脹的對沖，從長遠來看，BTC可能會更高的需求和價值。

Furthermore, given that BTC is a non-sovereign asset outside government control, investors might opt for it where there’s prolonged economic uncertainty, an area where it thrives.

此外，鑑於BTC是政府控制以外的非主管資產，投資者可能會在經濟不確定性延長的情況下選擇它。