比特幣 (BTC) 長期持有者 (LTH) 投降，單日賣出近 70,000 BTC

比特幣 (BTC) 目前的交易價格比 108,000 美元左右的歷史高點低 13%，這是自當選總統唐納德·川普 11 月初贏得美國大選以來的最高水平。

Bitcoin (BTC) dropped further Wednesday morning, slipping to levels last seen during the post-election rally in early November.

週三上午，比特幣 (BTC) 進一步下跌，跌至 11 月初大選後反彈期間的水平。

The largest cryptocurrency fell to as low as $94,400 during the Asian trading hours, according to Bitstamp. The price recovered slightly and was recently changing hands at $94,700, still down 13% from the record high of around $108,000.

據 Bitstamp 稱，最大的加密貨幣在亞洲交易時段跌至 94,400 美元。價格小幅回升，最近以 94,700 美元易手，仍較 108,000 美元左右的歷史高點下跌 13%。

Bitcoin had spent several periods at 10% below the record – a level that some investors term a correction – since hitting the all-time high on Oct. 21.

自 10 月 21 日觸及歷史新高以來，比特幣價格曾多次處於低於歷史記錄 10% 的水平（一些投資者將這一水平稱為修正）。

The selling pressure appeared to originate with long-term holders (LTHs), which Glassnode defines as investors who have held bitcoin for at least 155 days. They tend to sell into price strength after accumulating bitcoin when prices are depressed.

拋售壓力似乎源自長期持有者（LTH），Glassnode 將其定義為持有比特幣至少 155 天的投資者。當價格低迷時，他們在累積比特幣後往往會趁價格上漲時賣出。

LTHs were already distributing a significant amount of BTC about a week ago, previous CoinDesk research showed.

CoinDesk 先前的研究顯示，大約一週前，LTH 已經分發了大量的 BTC。

Since then, they’ve picked up the pace and have reduced their total holdings to about 13.2 million BTC from around 14.2 million in mid-September.

此後，他們加快了步伐，將比特幣總持有量從 9 月中旬的約 1,420 萬減少至約 1,320 萬。

On Thursday, they sold almost 70,000 BTC, the fourth-biggest one-day sell-off this year, according to Glassnode data.

根據 Glassnode 的數據，週四，他們售出了近 70,000 枚 BTC，這是今年第四大單日拋售量。

On the flip side, for every seller, there has to be a buyer. In this case, it’s the short-term holders (STHs) who have accumulated approximately 1.3 million BTC in the same time period. The number indicates they picked up coins from the LTHs and more.

另一方面，對於每個賣家來說，都必須有一個買家。在這種情況下，短期持有者（STH）在同一時期內累積了約 130 萬個比特幣。該數字表明他們從 LTH 等處拾取了硬幣。

In the past few days the narrative has changed and LTHs are looking to sell more than short-term traders are looking to buy. That imbalance has contributed to the price decline.

在過去的幾天裡，情況發生了變化，LTH 的賣出量超過了短期交易者的買入量。這種不平衡導致了價格下跌。

There are 19.8 million tokens in circulating supply and another 2.8 million sitting on exchanges, though that balance continues to fall: about 200,000 bitcoin has left exchanges in the past few months.

目前有 1,980 萬枚代幣處於流通供應中，另有 280 萬枚代幣留在交易所，但這一餘額仍在繼續下降：過去幾個月約有 20 萬枚比特幣離開了交易所。

These cohorts are key to monitoring bitcoin's price activity in the next few days.

這些群體是監控未來幾天比特幣價格活動的關鍵。