比特幣[BTC]最近幾天的價格變動引起了很多關注

該價格行動是在有關一項新的美國加密儲備計劃的報告之後，其中包括比特幣和其他主要加密貨幣。

Bitcoin’s [BTC] recent price movements have drawn attention, with the cryptocurrency experiencing both a sharp decline and a subsequent rebound.

比特幣的[BTC]最近的價格變動引起了人們的關注，加密貨幣既急劇下降又有後來的反彈。

This action follows reports of a new U.S. crypto reserve initiative, including Bitcoin and other major cryptocurrencies.

此行動是在報導了一項新的美國加密儲備計劃的報告，其中包括比特幣和其他主要加密貨幣。

Bitcoin reacts to Crypto Reserve development

比特幣對加密儲備儲備開發反應

Initially, Bitcoin surged above $94,000 before stabilizing at just over $92,000 at the time of writing. In addition to these price swings, data from CryptoQuant has highlighted notable activity among cryptocurrency exchanges.

最初，在寫作時，比特幣飆升至94,000美元以上的$ 94,000。除了這些價格波動外，來自加密量的數據還強調了加密貨幣交換之間的顯著活動。

According to analyst KriptoBaykusV2, large inflows and outflows of Bitcoin on exchanges have had a direct impact on market sentiment and price trends.

根據分析師Kriptobaykusv2的說法，交易所中的大量比特幣流出對市場情緒和價格趨勢產生了直接影響。

On the 25th of February, approximately 8.4K BTC moved into exchanges, triggering increased selling pressure and a subsequent price drop. However, the following day saw a reversal, with substantial Bitcoin outflows indicating a shift toward long-term holding strategies.

2月25日，大約8.4k BTC搬進了交流，觸發了銷售壓力增加和隨後的價格下跌。但是，第二天發生了逆轉，大量比特幣流出表明轉向長期持有策略。

This pattern of activity stabilized Bitcoin’s price and contributed to a gradual recovery by early March.

這種活動模式穩定了比特幣的價格，並在3月初逐步恢復了逐步恢復。

Source: CryptoQuant

資料來源：加密

Impact of Exchange flows and on-chain metrics

交換流量和鏈上指標的影響

Exchange inflow and outflow data suggest investor sentiment often shifts quickly in response to external factors. The analyst noted that inflows correlate with increased selling pressure, leading to short-term price declines.

交換流入和流出數據表明投資者情緒通常會響應外部因素而迅速轉移。分析師指出，流入與銷售壓力增加相關，導致短期價格下降。

Conversely, outflows typically signal a preference for long-term storage. This reduces immediate selling pressure and potentially paves the way for upward price momentum.

相反，流出通常表示對長期存儲的偏好。這降低了立即銷售壓力，並有可能為上價勢頭鋪平道路。

Historical data supports this relationship: rising outflows often coincide with price increases as the circulating supply tightens. KriptoBaykusV2 noted:

歷史數據支持這種關係：流出量的上升通常隨著循環供應的收緊而匯總的價格上漲。 kriptobaykusv2指出：

“As of March 2, Bitcoin’s price has started to rise again. Historically, when outflows from exchanges increase, prices tend to move upward.

“截至3月2日，比特幣的價格又開始上漲。從歷史上看，當交流的流出增加時，價格往往會向上上升。

This is because when investors withdraw Bitcoin from exchanges, the circulating supply decreases, and selling pressure diminishes. This paves the way for a potential price increase.”

這是因為當投資者從交易所退出比特幣時，循環供應減少並銷售壓力降低。這為潛在價格上漲鋪平了道路。”

Beyond exchange movements, on-chain metrics offer additional context. Data from Glassnode indicates a surge in the number of new Bitcoin addresses in February, reaching a monthly peak of 371,442 on the 26th of February.

除了交換運動之外，鏈度指標還提供其他背景。來自GlassNode的數據表明，2月26日，2月26日的新比特幣地址數量激增，每月達到371,442。

Source: Glassnode

來源：玻璃節

While this metric retreated slightly in early March to around 300,000, the overall increase in new addresses suggests growing retail interest in BTC.

儘管該度量在3月初略有撤退到30萬左右，但新地址的總體增加表明，BTC的零售利益越來越大。

This uptick in address activity, combined with the observed exchange flows, provides a more comprehensive picture of what is going on in the market.

地址活動的這種上升，再加上觀察到的交換流，為市場上發生的事情提供了更全面的了解。