比特幣的飆升暗示累積不斷增加

在重新累積的推動下，比特幣 (BTC) 於 3 月 25 日重新站上 70,000 美元大關。需求激增導致領先的加密貨幣交易所 Coinbase 的 BTC 供應量降至九年來的最低點。

Is Bitcoin's Resurgence a Sign of Growing Accumulation?

比特幣的復甦是累積不斷增長的跡象嗎？

After a brief dip below $70,000, Bitcoin (BTC) has reclaimed the milestone, buoyed by a renewed surge in accumulation. As a result, Coinbase, a major cryptocurrency exchange, has witnessed a nine-year low in BTC supply.

在短暫跌破 70,000 美元之後，比特幣 (BTC) 在累積量再次激增的推動下，重新奪回了這一里程碑。結果，主要加密貨幣交易所 Coinbase 的 BTC 供應量創下九年來的新低。

Coinbase BTC Supply at a Nine-Year Low

Coinbase BTC 供應量創九年來新低

On March 18, BTC reserves on Coinbase hit a meager 344,856 BTC, according to data provider Glassnode. This suggests that investors are once again accumulating BTC off exchanges, a trend not seen since 2015.

根據數據提供商 Glassnode 的數據，3 月 18 日，Coinbase 上的 BTC 儲備僅為 344,856 BTC。這表明投資者再次在交易所外累積 BTC，這是自 2015 年以來從未出現過的趨勢。

Accumulation Addresses Nearing Record Highs

累積地址接近歷史新高

The total Bitcoin balance in accumulation addresses, defined as those with over 10 BTC and limited ties to exchanges or mining firms, has rebounded to over 3.2 million BTC, approaching its all-time peak.

累積地址中的比特幣總餘額（定義為擁有超過 10 BTC 且與交易所或礦業公司聯繫有限的地址）已反彈至超過 320 萬 BTC，接近歷史高峰。

Inflows to Accumulation Addresses Hit Record

累計地址流入量創歷史新高

Adding to the accumulation trend, Bitcoin inflows to accumulation addresses reached a new all-time high of 25,300 BTC on March 22. This indicates that large investors are anticipating further upside potential after the recent price correction.

3月22日，比特幣流入增持地址創下25,300 BTC的歷史新高，這進一步加劇了增持趨勢。這表明大投資者在近期價格調整後預計會有進一步的上漲潛力。

Exchange Reserves at Three-Year Low

外匯存底創三年新低

Overall, Bitcoin reserves on all exchanges have dwindled to a three-year low of 1.92 million BTC. This suggests that the supply of BTC on exchanges is at historic lows, potentially providing further fuel for price appreciation.

整體而言，所有交易所的比特幣儲備已減少至三年低點 192 萬比特幣。這表明交易所的比特幣供應量處於歷史低位，可能為價格上漲提供進一步的動力。

ETF Inflows Bolstering Demand

ETF 流入提振需求

The demand for Bitcoin is also being fueled by inflows into exchange-traded funds (ETFs). These funds have attracted billions of dollars in recent months, increasing the demand for BTC.

流入交易所交易基金（ETF）也推動了對比特幣的需求。近幾個月來，這些資金吸引了數十億美元，增加了對比特幣的需求。

Conclusion

結論

The resurgence in Bitcoin accumulation, coupled with the dwindling supply on exchanges and strong demand from ETFs, suggests that the cryptocurrency may have further room to run. However, it's important to note that cryptocurrency markets are volatile, and investors should conduct their own research before making any investment decisions.

比特幣累積的復甦，加上交易所供應量的減少和 ETF 的強勁需求，表明這種加密貨幣可能還有進一步的運作空間。然而，值得注意的是，加密貨幣市場波動很大，投資者在做出任何投資決定之前應進行自己的研究。