比特幣（BTC）長期持有人（LTHS）在售出6個月後返回購買

比特幣的長期持有人（LTHS）在2024年10月下旬開始了長時間的銷售之後，開始再次購買。

Long-term holders (LTHs) of Bitcoin (BTC) have started buying again after a prolonged period of selling that began in late October 2024.

在2024年10月下旬開始長期銷售後，比特幣（BTC）的長期持有人（LTHS）已經開始購買。

According to data from Glassnode, the LTH Net Position Change indicator, which measures the 30-day total change in the sum of LTH hodlers’ net positions, has finally turned positive.

根據GlassNode的數據，LTH淨位置變化指標量衡量了LTH Hodlers的淨位置總和的30天總變化，最終變成了正變。

The last time the indicator showed net buying over 30 days was on April 6—the first time in six months.

該指標上次顯示淨購買超過30天的是4月6日，這是六個月來的第一次。

This shift in mood among LTHs, who are defined as entities holding coins for at least 153 days or more, could be setting the stage for a market upturn.

LTHS之間情緒轉變的定義為持有硬幣至少153天或更長時間的實體，可能為市場上升奠定了基礎。

The change in behavior comes after a steep price decline that saw Bitcoin fall almost 32% from its November highs.

行為的變化是在價格下降幅度下降後，比特幣比11月的高點下降了幾乎32％。

Earlier Periods Saw Massive LTH Selling

較早的時期看到了巨大的勒索

During the previous periods of selling, the LTH metric showed deep red bars, indicating sustained sell-offs. By early December, the 30-day total reached a historic low of -827,750 BTC.

在過去的銷售期間，第LTH指標顯示深紅色的條，表明持續拋售。到12月初，總計30天的歷史低點為-827,750 BTC。

This massive distribution was largely blamed for dragging BTC down to sub-$75K levels. However, recent price action tells a different story.

這種大規模的分佈在很大程度上歸咎於將BTC拖到低於$ 75K的水平。但是，最近的價格動作講述了一個不同的故事。

Since the beginning of this renewed accumulation, Bitcoin has rebounded by 12%, currently trading near $83,615.

自從重新累積的積累開始以來，比特幣的反彈增長了12％，目前的交易價格接近83,615美元。

Moreover, the uptick in LTH buying coincides with a rise in Bitcoin’s realized cap, which has now surpassed $18 billion—its highest reading since September 2024.

此外，LTH購買的增長恰逢比特幣實現的上限上升，現在已經超過了180億美元，這是自2024年9月以來的最高讀數。

This reading, the value of coins last moved at the time of writing, often came before wider market upswings.

這篇閱讀，硬幣的價值上次在寫作時移動，通常是在更廣泛的市場上升之前。

Also, futures market funding rates have turned positive (0.0037%), suggesting more traders are betting on higher prices.

此外，期貨市場融資率已經轉變為正（0.0037％），這表明越來越多的貿易商押注更高的價格。

While the return of LTH buying is a positive development, analysts remain measured in their optimism.

儘管LTH購買的回歸是積極的發展，但分析師仍在樂觀範圍內衡量。

In past cycles, such as mid-2023, net position changes above +250,000 BTC served as strong indicators of incoming bull runs.

在過去的周期（例如2023年中期）中，淨位置的變化高於+250,000 BTC，是傳入牛的強大指標。

The current buying level, while welcome, is still relatively low and needs to grow consistently to show a lasting turnaround.

當前的購買水平雖然受歡迎，但仍然相對較低，需要持續發展以表現出持久的周轉。