比特幣礦工在瘋狂拋售中拋售 3700 萬枚比特幣，但隨著新買家的出現，價格上漲

比特幣（BTC）礦工儲備在過去一年中經歷了持續下降，這是一個相當令人擔憂的發展。

Bitcoin (BTC) miners’ reserves have seen a consistent decline over the past year, a development that would usually be a cause for concern. However, BTC has managed to record multiple price rallies during this period, even breaking into the $100,000 price zone.

比特幣（BTC）礦商的儲備在過去一年中持續下降，這一發展通常會引起人們的擔憂。然而，BTC 在此期間成功記錄了多次價格上漲，甚至突破了 10 萬美元的價格區域。

Now, a CryptoQuant analysis is shedding light on this divergent trend, pinpointing the driving force behind the current bullish market.

現在，CryptoQuant 分析正在揭示這種不同的趨勢，指出當前多頭市場背後的驅動力。

Bitcoin Miners Offload 37 Million BTC in Selling Spree

比特幣礦工拋售 3,700 萬枚比特幣

In a Quicktake post on X, cryptoQuant analysis lead cryptoavails shares that Bitcoin miners’ holdings have been on a decline since the second half of 2023. At the beginning of the year, miners’ reserves stood at 1.808 million BTC, but this value has been decreasing steadily over the past months. As of press time, miners’ holdings are valued at 1.808 million BTC.

在 X 的 Quicktake 貼文中，cryptoQuant 分析負責人 cryptoavails 表示，自 2023 年下半年以來，比特幣礦工的持有量一直在下降。個月穩定下降。截至發稿，礦工持有的比特幣價值為180.8萬枚。

Typically, when miners’ reserves are surging, it indicates that miners are accumulating BTC, which is usually interpreted as a bullish signal. On the other hand, a fall in miners’ holdings is usually an indicator of high operational costs or profit-taking, both of which can be interpreted as selling pressure, which in turn can produce bearish sentiments.

通常，當礦工的儲備激增時，表示礦工正在累積 BTC，這通常被解讀為看漲訊號。另一方面，礦商持倉下降通常表示營運成本較高或獲利了結，這兩者都可以解釋為拋售壓力，進而可能產生看跌情緒。

But, despite the ongoing offload by Bitcoin miners, which would indicate strong selling pressure, BTC has managed to record significant periodic price growth. At the beginning of the year, BTC was trading at around $45,000, but the premier cryptocurrency has seen multiple rallies, rising to a current value of around $103,000.

但是，儘管比特幣礦商持續拋售，這表明拋售壓力很大，但比特幣仍成功實現了顯著的周期性價格增長。今年年初，BTC 的交易價格約為 45,000 美元，但這種主要的加密貨幣經歷了多次反彈，目前價格升至 103,000 美元左右。

This unusual behavior is explained by cryptoavails, who states that other market participants, namely retail and institutional investors, have exhibited a robust demand that is absorbing all selling pressure from the miners.

Cryptoavails 解釋了這種不尋常的行為，他指出其他市場參與者，即散戶和機構投資者，已經表現出強勁的需求，正在吸收來自礦商的所有拋售壓力。

For instance, the Bitcoin Spot ETFs, which were introduced in January 2024, have proven to be monumental in BTC price growth. Each surge in inflows coincides with a price rally. According to data from SoSoValue, the Bitcoin Spot ETFs currently boast total net assets of $114.82 billion despite being in the market for barely over a year, which goes to show the immense institutional demand for the premier cryptocurrency.

例如，2024 年 1 月推出的比特幣現貨 ETF 已被證明對 BTC 價格成長具有巨大意義。每次資金流入激增都伴隨著價格上漲。根據SoSoValue的數據，儘管比特幣現貨ETF上市僅一年多時間，但目前其淨資產總額已達到1,148.2億美元，這表明機構對這種頂級加密貨幣的巨大需求。

Interestingly, cryptoavails also notes that a continuous decline in miners’ reserves would eventually result in reduced selling pressure, likely due to less BTC available to sell, thereby contributing to a higher potential for price gains in the future.

有趣的是，Cryptoavails 也指出，礦商儲備的持續下降最終將導致拋售壓力減輕，這可能是由於可出售的 BTC 減少，從而導致未來價格上漲的潛力更大。

BTC to Enter Consolidation?

BTC將進入整合期？

In other news, popular market analysis Rekt Capital has highlighted a price movement that is necessary for Bitcoin to maintain its current rally and avoid another consolidation.

在其他新聞中，流行的市場分析 Rekt Capital 強調了比特幣維持當前漲勢並避免再次盤整所必需的價格變動。

At press time, the premier cryptocurrency trades at $103,114 after a 2.10% increase in the past 24 hours. Meanwhile, BTC’s daily trading volume has gained by 16.95% and is valued at $65.8 billion.

截至發稿時，這筆頂級加密貨幣的交易價格為 103,114 美元，在過去 24 小時內上漲了 2.10%。同時，BTC 的日交易量成長了 16.95%，價值 658 億美元。

According to Rekt Capital, BTC needs to record a daily close above its final resistance at $106,000, followed by a retest to confirm a price break and an incoming new all-time high. However, if BTC fails to clear the specified resistance zone, the asset is expected to trade between $101,000-$106,000 in the short term, thereby forming a consolidation zone.

根據 Rekt Capital 的說法，BTC 的每日收盤價需要突破其最終阻力位 106,000 美元，然後重新測試以確認價格突破並創下新的歷史高點。然而，如果比特幣未能突破指定阻力區，預計該資產短期內交易價格將在 101,000 美元至 106,000 美元之間，從而形成盤整區。