比特幣 (BTC) 長期持有者因價格飆升而拋售比特幣，模仿四月份的拋售

比特幣的長期持有者在過去 30 天內遭遇了大規模拋售，創下 4 月以來的最大拋售量。這是因為比特幣徘徊在 93,000 美元附近

Bitcoin [BTC] has seen a massive sell-off from long-term holders over the last 30 days, marking the largest sell-off since April. This comes as Bitcoin hovers near $93,000, sparking questions about whether these moves signal profit-taking or forewarn a potential market correction.

過去 30 天內，長期持有者大幅拋售比特幣 [BTC]，這是自 4 月以來最大規模的拋售。與此同時，比特幣徘徊在 93,000 美元附近，引發了人們的疑問：這些舉動是否預示著獲利了結，還是預示著潛在的市場調整。

With key indicators like the Fear & Greed Index and HODL Waves showing noteworthy trends, this sell-off could have implications for Bitcoin’s near-term trajectory.

由於恐懼與貪婪指數和 HODL Waves 等關鍵指標顯示出值得注意的趨勢，這種拋售可能會對比特幣的近期軌跡產生影響。

The offloading by long-term holders coincides with Bitcoin’s parabolic rise to $93,000 earlier this month, fueling speculation about the motivations behind such a massive sell-off.

長期持有者的拋售恰逢比特幣本月稍早拋物線上漲至 93,000 美元，引發了人們對如此大規模拋售背後動機的猜測。

Analysis of the Long Term Holders Net position Change chart on CryptoQuant showed that it was negative. Over 728,000 BTC has been sold in the past 30 days, marking the largest sell-off since April.

對 CryptoQuant 上的長期持有者淨頭寸變化圖表的分析顯示，該變化為負值。過去 30 天內已售出超過 728,000 枚 BTC，這是自 4 月以來最大規模的拋售。

In April, a similar sell-off by long-term holders triggered a short-term price correction, raising questions about whether history could repeat itself. With Bitcoin still holding above $90,000, the market’s resilience is being tested.

4月份，長期持有者的類似拋售引發了短期價格調整，引發了人們對歷史是否會重演的疑問。由於比特幣仍維持在 9 萬美元上方，市場的彈性正在受到考驗。

Another factor adding to the narrative is the Bitcoin Fear & Greed Index, which currently shows a reading of around 75, reflecting “extreme greed” in the market. Such sentiment often precedes corrections, as overconfidence among investors can lead to unsustainable price action.

另一個因素是比特幣恐懼與貪婪指數，目前該指數的讀數約為 75，反映了市場的「極度貪婪」。這種情緒往往先於回調，因為投資者的過度自信可能導致不可持續的價格走勢。

The index, combined with the sell-off from long-term holders, suggests caution may be warranted in the short term.

該指數，加上長期持有者的拋售，顯示短期內可能需要謹慎行事。

Data from Glassnode’s Realized Cap HODL Waves indicates a significant shift in Bitcoin ownership, with younger coins—those held for less than six months—making up a larger share of the market. This suggests new entrants or traders are absorbing the selling pressure from long-term holders, stabilizing Bitcoin’s price for now.

Glassnode 的已實現上限 HODL 波浪數據表明，比特幣所有權發生了重大轉變，較年輕的代幣（持有時間少於六個月的代幣）佔據了更大的市場份額。這表明新進入者或交易者正在吸收長期持有者的拋售壓力，目前穩定了比特幣的價格。

However, the question remains whether these newer market participants will have the same conviction if volatility spikes.

然而，問題仍然是，如果波動性飆升，這些新的市場參與者是否會有同樣的信念。

While Bitcoin’s recent sell-off by long-term holders is notable, it doesn’t necessarily signal a bearish trend. The market has shown resilience in holding key levels, with $90,000 acting as critical support.

儘管長期持有者近期拋售比特幣的情況值得注意，但這並不一定預示著看跌趨勢。市場在保持關鍵水平方面表現出了韌性，90,000 美元是關鍵支撐。

However, the confluence of extreme greed in the market and heavy profit-taking raises the risk of increased volatility.

然而，市場的極度貪婪和大量獲利了結的結合增加了波動性加劇的風險。

The RSI (Relative Strength Index) for Bitcoin now stands at 61.44, reflecting that the asset is approaching overbought levels. Historically, these metrics tend to align with profit-taking behavior, especially when prices breach significant psychological thresholds.

比特幣的 RSI（相對強弱指數）目前為 61.44，反映出該資產已接近超買水準。從歷史上看，這些指標往往與獲利了結行為一致，特別是當價格突破重大心理門檻時。

As Bitcoin edges closer to $100,000—a psychological resistance level—investors should keep a close watch on the behavior of both long-term holders and newer participants.

隨著比特幣逼近 10 萬美元（心理阻力位），投資者應密切注意長期持有者和新參與者的行為。

Whether this is a mere consolidation phase or a prelude to a correction remains to be seen. For now, the Bitcoin market is walking a fine line between bullish momentum and cautious retracement.

這只是一個盤整階段還是調整的前奏還有待觀察。目前，比特幣市場正在看漲勢頭和謹慎回撤之間徘徊。