由於鏈上指標顯示供應緊張，比特幣多頭目標為 100,000 美元阻力位

比特幣多頭再次瞄準 10 萬美元的關鍵阻力位，加密貨幣反彈至 97,290 美元。最近的上升勢頭是在經歷了動蕩的一周之後出現的

Bitcoin price analysis reveals a bullish outlook as the cryptocurrency approaches the crucial $100,000 resistance level. A confluence of factors, including increased institutional participation, is bolstering market sentiment.

隨著加密貨幣接近 10 萬美元的關鍵阻力位，比特幣價格分析揭示了看漲前景。包括機構參與度增加在內的多種因素正在提振市場情緒。

In addition to these drivers, on-chain metrics such as the Miner Net Position, HODL Waves, and net exchange flows provide further insight into Bitcoin's current trajectory as it enters December.

除了這些驅動因素之外，礦工淨頭寸、HODL Waves 和淨交易流量等鏈上指標也可以進一步洞察比特幣進入 12 月後的當前軌跡。

Bitcoin’s on-chain metrics present a bullish picture as the cryptocurrency closes in on the critical $100,000 resistance. Commencing the analysis, the Miner Net Position metric showcases a consistent reduction in selling pressure by miners, which is indicated by the declining red bars on the chart.

隨著加密貨幣逼近 10 萬美元的關鍵阻力位，比特幣的鏈上指標呈現出看漲的景象。從分析開始，礦工淨頭寸指標顯示礦工的拋售壓力持續減少，這由圖表上不斷下降的紅色條表示。

This shift in behavior suggests that miners, who have historically been a major selling force, are now opting to hold onto their reserves in anticipation of higher future prices.

這種行為轉變表明，歷史上一直是主要拋售力量的礦商現在選擇保留其儲備，以預期未來價格上漲。

Furthermore, the sustained rise in selling pressure coincides with Bitcoin's recovery from a dip around $92,000, highlighting a supportive environment for the bulls.

此外，拋售壓力的持續上升與比特幣從 92,000 美元左右的跌勢中復甦同時發生，凸顯了多頭的支撐環境。

Delving deeper into the on-chain analysis, the HODL Waves provide a visual representation of the duration for which different cohorts of Bitcoin holders have maintained their assets.

透過深入研究鏈上分析，HODL Waves 提供了不同群體的比特幣持有者持有其資產的持續時間的直觀表示。

In this regard, the chart reveals a growing trend of long-term accumulation, which is evident in the noticeable expansion of holding bands exceeding one year. This behavior signals strong conviction among long-term investors.

在這方面，圖表揭示了長期累積的成長趨勢，這點從超過一年的持有區間明顯擴大中可見一斑。這種行為標誌著長期投資者的堅定信念。

Conversely, a contraction in short-term holding bands (ranging from one day to three months) showcases a decrease in speculative activity.

相反，短期持有區間（從一天到三個月）的收縮表明投機活動的減少。

This shift in holding patterns, with a focus on long-term accumulation and a reduction in short-term trading, aligns with the observed miner behavior and bodes well for sustained price increases.

這種持有模式的轉變，重點是長期累積和短期交易的減少，與觀察到的礦工行為一致，是價格持續上漲的好兆頭。

To conclude, the netflow data provides a clear indication of investor accumulation, with a sustained trend of Bitcoin outflows from exchanges.

總而言之，淨流量數據清楚地表明了投資者的積累，以及比特幣從交易所流出的持續趨勢。

When holders withdraw Bitcoin to cold wallets, they are essentially removing it from the liquid supply available for trading. This behavior contributes to the buildup of buying pressure and increases the potential for sustained price movements to the upside.

當持有者將比特幣提取到冷錢包時，他們實際上是將其從可用於交易的流動性供應中移除。這種行為會加劇購買壓力，並增加價格持續上漲的可能性。

Overall, the on-chain metrics paint a picture of a supply-constrained market entering December, with bullish sentiment being driven by long-term accumulation, reduced miner selling, and institutional demand.

總體而言，鏈上指標描繪了進入 12 月供應受限的市場景象，長期累積、礦商拋售減少和機構需求推動看漲情緒。

Should the psychological barrier of $100,000 be breached, it could pave the way for the token to reach new all-time highs in the coming weeks.

如果突破 10 萬美元的心理障礙，可能會為該代幣在未來幾週內創下新的歷史高點鋪平道路。