比特幣（BTC USD）在2024年拉力賽期間放棄持有量後恢復積累

根據加密數據，主要比特幣（BTC USD）或鯨魚（擁有超過1,000 BTC的錢包）恢復了積累。

Major Bitcoin (BTC USD) holders, or whales (wallets with over 1,000 BTC), have resumed accumulating the cryptocurrency, according to CryptoQuant data.

根據加密數據，主要的比特幣（BTC USD）持有人或鯨魚（BTC超過1,000 BTC的錢包）恢復了加密貨幣的積累。

The whale supply has decreased from 5.59 million BTC to 5.30 million BTC over the past five months, which equals a reduction of around 290,000 BTC. This means that whales were distributing their holdings and perhaps taking profit during the 2024 rally.

在過去的五個月中，鯨魚供應從559萬BTC減少到530萬BTC，相當於減少約290,000 BTC。這意味著鯨魚在2024年的集會期間分配其股份，並可能獲利。

However, the data has changed recently. The 30-day whale position change metric has flipped to positive territory, which means accumulation is back on.

但是，數據最近發生了變化。 30天的鯨魚位置變化度量已轉向正區域，這意味著積累重新開始。

The whale supply has started to increase as of March 2025 and it is now rising from the recent low of 5.30 million Bitcoin (BTC USD). This upward movement is shown by the blue-shaded area in the chart, and it clearly bounces after a long decline.

截至2025年3月，鯨魚的供應已經開始增加，現在它已經從最近的530萬比特幣（BTC USD）上升。圖表中的藍色陰影區域顯示了這種向上的運動，並且在長期下降後顯然反彈。

This reversal could be related to expectations of liuiditty conditions and broader macroeconomic shifts. In the past 30 days, the cumulative whale position change became positive, indicating that large investors are gradually becoming more interested in holding BTC.

這種逆轉可能與對真蒂條件的期望和更廣泛的宏觀經濟轉變有關。在過去的30天中，累積的鯨魚位置變化變得積極，表明大型投資者逐漸對持有BTC越來越感興趣。

Moreover, whales tend to withdraw coins from exchanges, which can alleviate sell side pressure.

此外，鯨魚傾向於從交易所中提取硬幣，這可以減輕賣方壓力。

Liquidation Data Shows Key Bitcoin (BTC USD) Price Levels Around $83K and $89K

清算數據顯示，關鍵比特幣（BTC USD）的價格水平約為83,000美元和$ 89K

Meanwhile, Alphractal’s aggregated liquidation levels heatmap shows concentrated liquidation zones near $83,000 and $89,000. These are the zones where large volumes of leveraged positions could be triggered in case of a sharp price move.

同時，Alphractal的總清算水平熱圖顯示，集中清算區接近83,000美元和89,000美元。這些區域可以在價格急劇下移動的情況下觸發大量槓杆位置。

Over the past three days, the heatmap also shows a ner balance between long and short positions. Nevertheless, long positions still slightly dominate when looking at the past week.

在過去的三天中，熱圖還顯示了長位置和短位置之間的平衡。然而，在看過去一周時，長位置仍然有些占主導地位。

Bitcoin (BTC USD) price action during this period has been contained within a tight range, but both the long and short side of the market are at risk. Many short positions could be liquidated if BTC rises toward $89,000. Long positions may be at risk if it falls toward or below $83,000.

在此期間，比特幣（BTC USD）的價格行動已包含在緊密的範圍內，但市場的長邊和短方面都處於危險之中。如果BTC上漲至89,000美元，可以清算許多短職位。如果長位降至83,000美元，則可能會處於危險之中。

On the right side of the chart, the liquidation map shows that liuiditty is heavier above the current price. Such activity could cause upward price movements as market makers and traders try to trigger stop losses or liquidations, which may add to volatility.

在圖表的右側，清算圖顯示Liuiditty高於當前價格。當做市商和交易員試圖觸發停止損失或清算時，這種活動可能會導致價格上漲，這可能會增加波動。

Institutional Activity and Market Sentiment Support the Bullish Structure

機構活動和市場情緒支持看漲結構

Furthermore, institutional involvement continues to grow. More demand from corporate buyers comes from French firm The Blockchain Group, which recently bought 580 Bitcoin (BTC USD) for €47.3 million. This purchase may not move the market on its own, but it is part of a larger trend of institutional interest across 2024 and into 2025.

此外，機構參與不斷增長。公司買家的需求更多來自法國公司The Blockchain Group，該集團最近以4730萬歐元的價格購買了580比特幣（BTC USD）。這次購買可能不會自行轉移市場，但它是2024年和2025年的機構興趣更大趨勢的一部分。

Moreover, analysts’ commentary indicates that macroeconomic conditions could keep liuiditty on the go. “The Fed can still print,” Kyle Chassé shared on social media, indicating that monetary policy could remain loose.

此外，分析師的評論表明，宏觀經濟狀況可能會使Liuiditty在旅途中保持不變。 “美聯儲仍然可以印刷，”凱爾·查薩（KyleChassé）在社交媒體上分享，這表明貨幣政策可能會變得鬆散。

Moreover, Arthur Hayes cited that April could be a turning point for market momentum, regardless of policy shifts such as new tariffs.

此外，亞瑟·海耶斯（Arthur Hayes）引用了四月可能是市場勢頭的轉折點，無論政策轉變，例如新的關稅。

Retail Market Dynamics and Consumer Trends

零售市場動態和消費者趨勢

Conversely, Cooling inflation in consumer goods is indicatedby a sharp drop in U.S. egg prices, which have fallen from over $8 to under $3 per dozen. This is not directly related to Bitcoin, but it can impact sentiment around purchasing power and interest in alternative assets such as BTC.

相反，消費品的冷卻通貨膨脹表明美國雞蛋價格急劇下跌，這已經從8美元降至每打以下3美元以上。這與比特幣沒有直接關係，但它可能會影響購買力和替代資產（例如BTC）的興趣的情感。

As liuiditty is moving away from traditional commodities and consumer goods, more capital may go towards digital assets. Crypto Rand hinted in a post on X, saying; “The eggs bull market is over… Liquidity flowing towards Bitcoin.”

隨著Liuiditty遠離傳統商品和消費品，更多的資本可能用於數字資產。加密蘭德（Crypto Rand）在X上的帖子中暗示： “雞蛋牛市已經結束了……流動朝比特幣流動。”

Markets may remain risk on if consumer inflation slows further and central banks stay in easing mode. This could be an environment that supports Bitcoin’s current trajectory as institutional and whale activity builds.

如果消費者通貨膨脹進一步放慢，並且中央銀行處於寬鬆模式，則市場可能會保持風險。隨著機構和鯨魚活動的建立，這可能是支持比特幣當前軌蹟的環境。