比特幣的多頭市場：進站還是典範轉移？ Santiment 的指標是關鍵

比特幣的看漲勢頭最近減弱，引發了人們對加密貨幣牛市週期進展的擔憂。 4 月 12 日的閃電崩盤導致該加密貨幣的價值從 70,000 美元跌至 67,000 美元以下。鏈上分析平台 Santiment 已將平均美元投資年齡指標確定為恢復多頭市場的潛在指標。從歷史上看，平均美元投資年齡線的下降與先前的比特幣牛市週期有關。

Bitcoin's Bull Run: A Pause or a Reset? Santiment's Metric Holds the Key

比特幣牛市：暫停還是重置？ Santiment 的指標是關鍵

The once-unstoppable momentum of Bitcoin's price has faltered in recent weeks, casting doubt on the continuation of the cryptocurrency's bull run. While a flash crash on Friday, April 12th, saw the premier cryptocurrency's value plummet from $70,000 to below $67,000, analysts now scrutinize a key metric to determine whether the bull run is merely pausing or shifting gears.

比特幣價格一度不可阻擋的勢頭在最近幾週出現了動搖，人們對這種加密貨幣牛市的持續性產生了懷疑。雖然 4 月 12 日星期五的閃崩導致這種主要加密貨幣的價值從 70,000 美元暴跌至 67,000 美元以下，但分析師現在正在仔細審查一個關鍵指標，以確定牛市是否只是暫停或轉變。

Bitcoin's Rocky Road to All-Time Highs

比特幣創歷史新高的坎坷之路

Bitcoin's recent inability to reclaim its all-time high of $73,737, set in mid-March, has fueled concerns about the sustainability of its price surge. On-chain analytics platform Santiment has zeroed in on a specific Bitcoin metric that could potentially signal a resumption of the bull run.

比特幣最近未能收復 3 月中旬創下的歷史高點 73,737 美元，引發了人們對其價格飆升可持續性的擔憂。鏈上分析平台 Santiment 已將注意力集中在一個特定的比特幣指標上，該指標可能預示著牛市的恢復。

Mean Dollar Invested Age: A Signal of Market Dynamics

平均美元投資年齡：市場動態的訊號

The Mean Dollar Invested Age metric, as defined by Santiment, monitors the average age of investments in an asset held in the same wallet. A rising Mean Dollar Invested Age indicates that investments are becoming more stagnant, with old coins remaining in the same wallets. Conversely, a decreasing Mean Dollar Invested Age suggests that investments are re-entering circulation, signaling increased network activity.

Santiment 定義的平均美元投資年齡指標監控同一錢包中持有的資產的平均投資年齡。平均美元投資年齡的上升表明投資變得更加停滯，舊硬幣仍然留在同一個錢包中。相反，平均美元投資年齡的下降表明投資正在重新進入流通，這表明網路活動增加。

Historical Patterns and Current Observations

歷史模式和當前觀察

Historically, Bitcoin has exhibited a falling Mean Dollar Invested Age line during previous bull cycles, including the current one that commenced in late October 2023. However, Santiment notes that Bitcoin's Mean Dollar Invested Age line has plateaued over the past couple of weeks, a surprising development given the imminent Bitcoin halving event.

從歷史上看，在先前的多頭週期中，比特幣的平均美元投資年齡線一直在下降，包括2023 年10 月下旬開始的當前牛市週期。過去幾週已趨於穩定，這令人驚訝鑑於即將發生的比特幣減半事件。

Halving Anticipation and Market Sentiment

預期和市場情緒減半

The Bitcoin halving, scheduled to take place in approximately a week, will halve the miners' reward from 6.25 BTC to 3.125 BTC. This highly anticipated event has fueled bullish sentiment among investors who believe it will contribute to Bitcoin's value appreciation in 2024.

比特幣減半預計將在大約一周內發生，礦工的獎勵將從 6.25 BTC 減半至 3.125 BTC。這一備受期待的事件激發了投資者的看漲情緒，他們相信這將有助於比特幣在 2024 年升值。

Santiment's Insights and Investor Outlook

Santiment 的見解和投資者展望

According to Santiment's latest report, investors should pay close attention to Bitcoin's Mean Dollar Invested Age metric. A resumption of the downward trend in the line would indicate that major stakeholders, such as whales, are actively moving coins into circulation. This would suggest a reinvigoration of the bull run.

根據 Santiment 的最新報告，投資者應密切關注比特幣的平均美元投資年齡指標。該線恢復下降趨勢表明鯨魚等主要利益相關者正在積極將代幣投入流通。這將顯示牛市將重燃活力。

Current Market Snapshot

當前市場概況

As of this writing, Bitcoin is trading around $66,548, marking a significant 6% price decline over the past 24 hours. Despite the recent downturn, analysts remain cautiously optimistic about the long-term trajectory of the cryptocurrency.

截至撰寫本文時，比特幣的交易價格約為 66,548 美元，過去 24 小時內價格大幅下跌 6%。儘管最近出現低迷，但分析師仍對加密貨幣的長期軌跡持謹慎樂觀態度。

Conclusion

結論

The pause in Bitcoin's upward momentum has raised questions about the continuation of the bull run. However, Santiment's Mean Dollar Invested Age metric provides valuable insights into market dynamics. A resumption of the downward trend in this metric would signal a re-emergence of the bull run and reinforce the confidence of investors banking on Bitcoin's long-term growth.

比特幣上漲勢頭的暫停引發了人們對牛市能否持續的質疑。然而，Santiment 的平均美元投資年齡指標為市場動態提供了寶貴的見解。此指標恢復下降趨勢將標誌著多頭市場的重新出現，並增強投資者對比特幣長期成長的信心。