比特幣需求達到了過去一年的最低水平

市場態度的重大變化是由於比特幣需求達到了過去一年的最低水平。來自加密量的鏈上數據表明，明顯的需求已變為負面

A major shift in market attitude is evident as Bitcoin demand reaches its lowest level in the past year, according to on-chain data from CryptoQuant. The apparent demand, which measures the change between newly supplied tokens and those remaining dormant for over a year, has turned negative, a crucial indicator suggesting fewer BTC are being actively acquired.

CryptoFunt的鍊鍊數據顯示，隨著比特幣需求在過去一年中達到其最低水平，市場態度的重大轉變是顯而易見的。明顯的需求衡量了新提供的令牌與剩餘的休眠狀態之間的變化一年多，這是負面的，這是一個關鍵的指標，表明積極獲取BTC更少。

This trend sparks questions about investor confidence, market stability, and possible influence on the price path of Bitcoin.

這種趨勢引發了有關投資者信心，市場穩定以及對比特幣價格路徑的可能影響的問題。

Weakest Bitcoin Demand Of The Year

年度最弱的比特幣需求

"Demand has been decreasing since December and keeps going down with time. This suggests that investors are becoming more cautious and may be shifting toward less risky assets."

“自12月以來的需求一直在減少，並且隨著時間的流逝而不斷下降。這表明投資者變得越來越謹慎，可能正在轉向較小的風險資產。”

The most recent research by CryptoQuant shows a clear decline in the apparent demand for Bitcoin, which measures the difference between newly supplied tokens and those that have remained inactive for more than a year. The indicator remained positive until late February, according to the chart, but it has now slipped into negative territory.

CryptoQuant的最新研究表明，對比特幣的明顯需求明顯下降，這衡量了新提供的代幣與一年以上不活動的代幣之間的差異。根據圖表的數據，該指標一直保持積極，直到2月下旬，但現在已滑入負面領域。

Historically, when apparent demand falls below zero, it indicates that either investors are actively selling or are indifferent to buying Bitcoin, which reduces accumulation rates.

從歷史上看，當明顯的需求低於零時，這表明投資者正在積極銷售或對購買比特幣無動於衷，這會降低積累率。

The ongoing decrease in demand since December hints at increasing investor caution, perhaps influenced by macroeconomic uncertainty, regulatory pressure, and shifting risk appetites.

自12月以來的需求持續下降暗示，投資者的謹慎態度可能會受到宏觀經濟不確定性，監管壓力和風險偏好的影響。

How The Market Is Reacting: Volatility And Price Weakness

市場的反應方式：波動和價格弱點

With decreasing demand, the price of the asset has struggled to gain momentum. The graph shows a strong correlation between demand weakness and price movement, with the price falling sharply in early March as demand turned negative.

隨著需求的減少，資產的價格一直在努力獲得動力。該圖顯示了需求弱點與價格變動之間的密切相關性，由於需求變為負面，3月初的價格在3月初急劇下降。

The market is becoming more volatile as BTC fails to hold key support levels. Should the trend continue, Bitcoin may experience more negative pressure, especially if new demand fails to counter the selling pressure from long-term holders.

由於BTC未能保持關鍵支持水平，因此市場變得越來越波動。如果趨勢繼續下去，比特幣可能會承受更大的負壓，尤其是如果新需求未能應對長期持有人的銷售壓力。

The red bars in the graph, which show negative demand, suggest that the current market cycle is entering a high-risk phase where selling pressure might outpace accumulation.

圖表中的紅色條顯示出負面需求，這表明當前的市場週期正在進入高風險階段，銷售壓力可能會超過空間的積累。

Investor Sentiment And Market Implications

投資者的情緒和市場影響

The persistent decrease in demand showcases increasing uncertainty among investors. Factors such as rising interest rates, geopolitical tensions, and the broader risk-off sentiment in traditional financial markets could contribute to reduced Bitcoin accumulation.

需求的持續下降顯示，投資者的不確定性增加了。諸如利率上升，地緣政治緊張局勢以及傳統金融市場中更廣泛的冒險情緒等因素可能導致比特幣積累的累積。

However, Bitcoin has historically seen swings in demand before major recoveries. While the current pattern is bearish, long-term investors might see this as an opportunity to acquire BTC at lower price points.

但是，從歷史上看，比特幣在重大恢復之前就已經看到了需求。儘管當前的模式是看跌的，但長期投資者可能會認為這是以較低價格獲取BTC的機會。

The next direction will be largely decided in the coming weeks. If demand remains negative, we might see the price of Bitcoin facing more downward pressure, and if the demand increases, so does the price.

下一個方向將在接下來的幾週內主要決定。如果需求仍然為負，我們可能會看到比特幣的價格面臨更大的向下壓力，如果需求增加，價格也會增加。