在機構需求和供應緊張的推動下，比特幣 (BTC) 價格飆升至 106,000 美元的歷史新高

在機構需求空前激增和場外交易櫃檯供應趨緊的推動下，比特幣已飆升至 106,000 美元的歷史新高。

Bitcoin price has reached a new all-time high of $106,000 in a move largely driven by an institutional buying spree and a tightening supply across over-the-counter (OTC) desks.

比特幣價格已創下 106,000 美元的歷史新高，這主要是由於機構瘋狂購買和場外交易 (OTC) 供應緊張推動的。

On-chain data reveals a rapid depletion in OTC desk balances, while apparent demand has continued to outpace supply over the last month. This combination has created a supply squeeze that has fueled Bitcoin’s sharp price momentum.

鏈上數據顯示，場外交易櫃檯餘額迅速耗盡，而上個月的表觀需求繼續超過供應。這種組合造成了供應緊張，推動了比特幣價格的強勁上漲。

Bitcoin institutional accumulation gathers pace

比特幣機構累積步伐加快

Analysis of the Bitcoin OTC Desk Balance chart, as provided by CryptoQuant, shows a sharp decline in OTC balances, marking the steepest drop this year. In the past 30 days alone, OTC desk balances have fallen by 25,000 BTC, while a total of 40,000 BTC has left these desks since November 20.

CryptoQuant 提供的比特幣場外交易台餘額圖表分析顯示，場外交易餘額急劇下降，創今年最大降幅。僅在過去 30 天裡，OTC 櫃檯餘額就減少了 25,000 BTC，而自 11 月 20 日以來，總共有 40,000 BTC 離開了這些櫃檯。

Source: CryptoQuant

來源：CryptoQuant

Institutional investors and high-net-worth individuals typically use OTC desks to purchase large amounts of Bitcoin without impacting spot market prices. This depletion signals that institutions are aggressively accumulating, reducing the available supply for broader market participants.

機構投資者和高淨值人士通常使用場外交易櫃檯購買大量比特幣，而不會影響現貨市場價格。這種消耗表明機構正在積極累積資金，從而減少了更廣泛的市場參與者的可用供應。

The dwindling OTC reserves coincide with Bitcoin’s rally to new highs, illustrating how institutional demand has fueled upward momentum while creating a supply shortage in the market.

場外交易儲備的減少與比特幣漲至新高同時發生，這說明機構需求如何推動了上漲勢頭，同時造成了市場供應短缺。

Demand outpaces supply, fueling price momentum

需求超過供應，推動價格上漲

Analysis of the Bitcoin Apparent Demand chart reinforces the narrative of increasing demand. Apparent demand, which tracks net Bitcoin absorption, has surged since November, showing consistent growth as the market rally gained momentum.

對比特幣表觀需求圖表的分析強化了需求不斷增長的說法。自 11 月以來，追蹤比特幣淨吸收量的表觀需求激增，隨著市場反彈勢頭增強，表現出持續成長。

Positive apparent demand has dominated, reflecting a market environment where BTC inflows significantly outpace outflows.

積極的表觀需求佔據主導地位，反映出比特幣流入量顯著超過流出量的市場環境。

Source: CryptoQuant

來源：CryptoQuant

As demand surged, Bitcoin broke through critical resistance levels, reaching its current high of $106,000.

隨著需求激增，比特幣突破了關鍵阻力位，達到目前高點 106,000 美元。

The decline in OTC balances, combined with this rise in demand, triggered a supply squeeze, creating the perfect environment for BTC’s record-breaking performance.

場外交易餘額的下降，加上需求的上升，引發了供應緊張，為比特幣破紀錄的表現創造了完美的環境。

Bitcoin price action confirms strong bullish sentiment

比特幣價格走勢證實了強烈的看漲情緒

The price chart confirms Bitcoin’s bullish momentum. The price has formed a clear uptrend, characterized by higher highs and higher lows, indicating market strength. Bitcoin remains comfortably above its 50-day and 200-day moving averages, signaling ongoing support for the rally.

價格圖表證實了比特幣的看漲勢頭。價格已形成明顯的上升趨勢，其特徵是高點更高、低點更高，顯示市場走強。比特幣仍輕鬆高於 50 日和 200 日移動均線，顯示對反彈的持續支持。

Source: TradingView

來源：TradingView

Moreover, trading volumes have increased during key upward movements, indicating that price gains are supported by strong participation from both institutional and retail investors.

此外，在關鍵的上漲走勢中，交易量增加，顯示價格上漲得到了機構和散戶投資者的大力參與的支持。

The Relative Strength Index (RSI) is currently near 70, reflecting strong momentum. However, it also suggests the possibility of short-term consolidation as the market absorbs recent gains.

相對強弱指數（RSI）目前接近70，反映出強勁的勢頭。然而，這也顯示隨著市場消化近期漲幅，短期盤整的可能性。

Institutional demand, supply squeeze drive BTC to $106,000

機構需求和供應緊張推動比特幣漲至 106,000 美元

Bitcoin’s surge to $106,000 is directly driven by increasing institutional demand and tightening supply. The depletion of OTC desk balances highlights aggressive accumulation by large investors, while apparent demand continues to on a net basis continues to outpace available supply.

比特幣飆升至 106,000 美元是由機構需求增加和供應收緊直接推動的。場外交易櫃檯餘額的耗盡凸顯了大型投資者的積極積累，而淨表觀需求繼續超過可用供應。

These factors have created the conditions for a significant supply squeeze, pushing Bitcoin to new all-time highs.

這些因素為供應嚴重緊張創造了條件，將比特幣推至歷史新高。

– Read Bitcoin (BTC) Price Prediction 2024-25

– 閱讀 2024-25 年比特幣 (BTC) 價格預測

While short-term consolidation may occur, the long-term outlook remains firmly bullish as institutional confidence and demand for Bitcoin show no signs of slowing.

儘管可能會出現短期盤整，但長期前景仍然堅定看漲，因為機構信心和對比特幣的需求沒有放緩的跡象。