比特幣減半後的繁榮：看漲指標顯示價格升值

比特幣第四次減半後的市場動態仍樂觀，投資人預期價格上漲，礦商有效調整策略。長期持有者的拋售已被新進入者吸收，而礦商則進行了早期拋售和先發製人的拋售以升級基礎設施，從而可能避免市場衝擊。比特幣 ETF 的需求不斷增長可能會進一步推高價格，因為減半帶來的供應受限與 ETF 的高需求相結合。

Bitcoin's Post-Halving Landscape: A Positive Outlook

比特幣減半後的前景：積極的前景

The crypto market is currently abuzz with anticipation and optimism as Bitcoin (BTC) navigates the aftermath of its fourth halving event. Key market indicators suggest that investors are bullish about the future of Bitcoin, with miners strategically adjusting their operations to adapt to the changing dynamics.

隨著比特幣（BTC）經歷第四次減半事件的餘波，加密市場目前充滿了預期和樂觀。關鍵市場指標表明，投資者看好比特幣的未來，礦商策略性地調整其營運以適應不斷變化的動態。

Long-Term Holders Unfazed by Pre-Halving Drop

長期持有者並未受到減半前跌幅的影響

Traditionally, Bitcoin's halving events have been preceded by a decline in selling pressure from long-term holders. However, this time around, these holders have remained relatively unmoved, suggesting that new market entrants are actively absorbing any selling pressure. The Bitfinex Alpha report highlights this trend, indicating that the market is well-positioned to weather any potential selling pressure.

傳統上，比特幣減半事件發生之前，長期持有者的拋售壓力會下降。然而，這一次，這些持有者相對不為所動，這表明新的市場進入者正在積極吸收任何拋售壓力。 Bitfinex Alpha 報告強調了這一趨勢，表明市場處於有利地位，可以承受任何潛在的拋售壓力。

Miners Adapt to Reduced Supply

礦工適應供應減少

The halving has significantly reduced Bitcoin's daily supply, fueling expectations of future price appreciation. Analysts predict a further decline in daily supply to around $30 million, including active and dormant supply as well as miner selling. Smaller mining operations, particularly those struggling with profitability, are likely to shut down.

減半大大減少了比特幣的每日供應量，加劇了未來價格上漲的預期。分析師預測每日供應量將進一步下降至 3,000 萬美元左右，其中包括活躍和休眠供應以及礦商拋售。較小的採礦作業，特別是那些獲利能力不佳的作業，可能會關閉。

To cope with the reduction in block rewards, miners are refining their operating strategies. Previously, miners have engaged in aggressive selling to maximize profits before anticipated earnings declines. However, this halving has seen miners execute pre-emptive selling, offloading their reserves ahead of the event. This strategic move has prevented a market shock and spread out potential selling pressure over a more extended period.

為了應對區塊獎勵的減少，礦工們正在完善他們的營運策略。此前，礦商曾積極拋售，以在預期收益下降之前實現利潤最大化。然而，在這次減半事件中，礦商們進行了先發制人的拋售，在減半之前拋售了他們的儲備。這項策略性舉措防止了市場衝擊，並在更長的時間內分散了潛在的拋售壓力。

ETF Demand to Fuel BTC Surge

ETF 需求推動 BTC 飆漲

Bitfinex analysts have also identified a crucial factor that could mitigate the impact of new BTC issuance on market prices: the growing demand for Bitcoin exchange-traded funds (ETFs). Spot Bitcoin ETFs are expected to play a pivotal role in managing market volatility, enabling large inflows and outflows.

Bitfinex 分析師還發現了一個可以減輕新 BTC 發行對市場價格影響的關鍵因素：對比特幣交易所交易基金 (ETF) 的需求不斷增長。現貨比特幣 ETF 預計將在管理市場波動、實現大量資金流入和流出方面發揮關鍵作用。

The convergence of constrained supply from the halving and robust ETF demand could propel BTC's price upwards. As ETFs provide institutional investors and retail traders alike with accessible entry into the Bitcoin market, they are likely to drive increased demand and contribute to a more stable price environment.

減半導致的供應受限和 ETF 需求強勁可能會推動 BTC 價格上漲。由於 ETF 為機構投資者和零售交易者等提供了進入比特幣市場的便利，它們可能會推動需求增加，並有助於建立更穩定的價格環境。

Conclusion

結論

The market dynamics surrounding Bitcoin's post-halving era are highly favorable, indicating optimism among investors and strategic adjustments by miners. Long-term holders' unwavering presence, miners' proactive selling strategies, and the growing popularity of Bitcoin ETFs all point towards a positive outlook for the cryptocurrency. The halving event has not only reduced Bitcoin's supply but has also paved the way for the market to absorb selling pressure more efficiently. As the crypto market continues to evolve and mature, Bitcoin's post-halving trajectory holds immense promise for investors and enthusiasts alike.

比特幣減半後的市場動態非常有利，顯示投資者的樂觀情緒和礦商的策略調整。長期持有者堅定不移的存在、礦商積極的拋售策略以及比特幣 ETF 的日益普及，都顯示了加密貨幣的積極前景。減半事件不僅減少了比特幣的供應量，也為市場更有效地吸收拋售壓力鋪平了道路。隨著加密貨幣市場的不斷發展和成熟，比特幣減半後的軌跡為投資者和愛好者帶來了巨大的希望。