由於鏈上因素仍然積極，比特幣（BTC）價格面臨潛在的大幅上漲

鯨魚和機構投資者已重新配置資產，以支持 2025 年之前的艱難發展。

Bitcoin (BTC) price action is setting up for a potentially massive rally next year as several on-chain factors remain bullish despite the recent crypto market downturn. Notably, the year saw record outflows from centralized exchanges.]

儘管最近加密貨幣市場低迷，但一些鏈上因素仍然看漲，比特幣（BTC）的價格走勢預計明年將出現大幅上漲。值得注意的是，今年中心化交易所的資金流出創歷史新高。

Bitcoin Reserves Plunge To 2.4 Million BTC

比特幣儲備暴跌至 240 萬比特幣

Fresh on-chain data reveals a declining Bitcoin reserves on centralized cryptocurrency exchanges, hinting at a higher price action.

最新的鏈上數據顯示，中心化加密貨幣交易所的比特幣儲備正在下降，暗示價格走勢將會上漲。

This year, exchange reserves on centralized exchanges dropped to 2.4 million from 3 million in January. The approval of spot Bitcoin ETFs in January led to the declining numbers.

今年，中心化交易所的外匯存底從1月的300萬下降至240萬。一月份現貨比特幣 ETF 的批准導致數量下降。

After the approvals, the BTC price rose to new highs above $7k. Most whales withdrew assets from exchanges as funds trickled into the ecosystem.

批准後，BTC 價格升至 7000 美元以上的新高。隨著資金流入生態系統，大多數鯨魚從交易所撤回資產。

Outflows from exchanges indicate an increased price action as whales are considering long-term holdings. In contrast, inflow to these platforms leads to sell pressure because of the popular sentiment associated with the transfers.

交易所的資金流出顯示價格走勢增加，因為鯨魚正在考慮長期持有。相較之下，由於與轉移相關的大眾情緒，流入這些平台會導致拋售壓力。

Crypto analyst KriptoBaykusv2 explained that the presence of institutional investors sparked the status quo, seeing rapid inflows as a sign of more gains.

加密貨幣分析師 KriptoBaykusv2 解釋說，機構投資者的存在引發了現狀，他們將快速資金流入視為更多收益的跡象。

Most traditional investors bought the dip and have maintained a hodl strategy. On the other hand, retail investors tend to move tokens on slight price changes, leading to BTC redistribution.

大多數傳統投資者逢低買入並維持長期持有策略。另一方面，散戶傾向於在價格輕微變化時轉移代幣，從而導致比特幣的重新分配。

This shift is particularly evident among institutional investors, who have increasingly embraced the “hodl” approach, demonstrating strong confidence in Bitcoin’s future potential. As reserves dwindled, Bitcoin’s price experienced a remarkable surge. Starting the year around $40K, the price accelerated in November, surpassing the $100K milestone and setting a new peak at $104K.

這種轉變在機構投資者中尤其明顯，他們越來越多地接受「hodl」方式，這表明他們對比特幣的未來潛力充滿信心。隨著儲備減少，比特幣的價格經歷了顯著的飆升。年初價格約為 4 萬美元，11 月價格加速上漲，突破了 10 萬美元里程碑，並創下 10.4 萬美元的新高。

Moreover, as exchange balances drop, Bitcoin miner reserves spiked following the price surge. The last bear market saw miners sell reserves to stay afloat. High prices result in a hodl strategy to maximize gains.

此外，隨著交易所餘額下降，比特幣礦商的儲備也隨著價格飆升而飆升。上一次熊市中，礦商出售儲備以維持生計。高價格導致持有策略以最大化收益。

Bitcoin Bulls Anticipate Massive Price Upticks

比特幣多頭預計價格大幅上漲

Several crypto experts are projecting a massive Bitcoin price surge next year. The transfer of assets to other custodians shows a supply shock, which could be the catalyst for the needed price action.

幾位加密貨幣專家預計明年比特幣價格將大幅上漲。將資產轉移給其他託管人顯示出供應衝擊，這可能是所需價格行動的催化劑。

Several whales have also ramped up accumulations as top crypto firms release their 2025 market outlook. In a new release, Bitfinex analysts noted that the market is positioned to see a price upswing, hitting $200K due to institutional activities.

隨著頂級加密貨幣公司發布 2025 年市場前景，一些鯨魚也加強了增持。 Bitfinex 分析師在最新發布的報告中指出，由於機構活動，市場預計價格將上漲，達到 20 萬美元。

Similar firms have projected the same price range for the asset, citing favorable United States policies, among others.

類似的公司以美國有利的政策等為理由，預計該資產的價格範圍相同。