比特幣長期持有者拋售，市場見頂？

唐納德·川普在美國總統選舉中獲勝後，比特幣的價格一直處於強勁的看漲趨勢。

As the price of Bitcoin continues to rise, on-chain data reveals that Bitcoin long-term holders are beginning to sell off their assets. Historically, similar market behavior coincided with market tops in the 2021 bull cycle, raising the question of whether the pioneer cryptocurrency is finally approaching its market peak.

隨著比特幣價格持續上漲，鏈上數據顯示比特幣長期持有者開始拋售資產。從歷史上看，類似的市場行為與 2021 年牛市週期的市場頂部同時發生，引發了這樣的問題：先鋒加密貨幣是否最終接近其市場頂峰。

Bitcoin Long-Term Holders Sell, Market Top Ahead?

比特幣長期持有者拋售，市場見頂？

The price of Bitcoin has been on a strong bullish trend following Donald Trump’s victory in the US Presidential elections. Leading up to its rise to its previous $100,000 ATH, BTC saw a surge in accumulation, with most whales opting to hold rather than sell their holdings.

唐納德·川普在美國總統選舉中獲勝後，比特幣的價格一直處於強勁的看漲趨勢。在比特幣升至之前的 10 萬美元之前，比特幣的累積量激增，大多數鯨魚選擇持有而不是出售其持有的資產。

However, on-chain data has revealed that long-term Bitcoin holders have begun offloading their assets. According to prominent crypto analyst Ali Martinez, this unexpected sell-off by long-term holders often aligns with a market top.

然而，鏈上數據顯示，長期比特幣持有者已經開始拋售資產。著名加密貨幣分析師阿里馬丁內斯 (Ali Martinez) 表示，長期持有者的這種意外拋售往往與市場頂部一致。

The chart shared by Martinez on X (formerly Twitter) illustrates the changes in Bitcoin’s long-term holder net position. The Green areas show that long-term holders are accumulating BTC and increasing their net positions. On the other hand, the red areas show that these holders are selling off their holdings and decreasing their net positions.

馬丁內斯在 X（以前稱為 Twitter）上分享的圖表說明了比特幣長期持有者淨頭寸的變化。綠色區域表明長期持有者正在累積比特幣並增加淨頭寸。另一方面，紅色區域表明這些持有者正在拋售其持倉並減少淨頭寸。

Martinez noted that long-term holders tend to distribute their holdings as BTC approaches a market top. This observation is supported by their behavior during the Bitcoin bull run in 2021.

馬丁內斯指出，當比特幣接近市場頂部時，長期持有者傾向於分配其持有的資產。這項觀察結果得到了他們在 2021 年比特幣牛市期間的行為的支持。

Between 2017 and 2021, the largest red (sell-off) areas occurred shortly after Bitcoin’s final surge to a new all-time high (ATH). After this surge, BTC experienced significant price corrections, signaling the market top and the end of the bull run.

2017 年至 2021 年間，最大的紅色（拋售）區域出現在比特幣最終飆升至歷史新高 (ATH) 後不久。此次飆升之後，BTC 經歷了大幅價格調整，標誌著市場見頂和牛市結束。

The recent red area in the chart shows that long-term Bitcoin holders are selling off their holdings again. If historical trends repeat, the current sell-off could indicate that BTC is nearing a peak; however, a last upward rally could still occur.

圖表中最近的紅色區域顯示長期比特幣持有者再次拋售其持有的比特幣。如果歷史趨勢重演，目前的拋售可能表示 BTC 已接近高峰；然而，最後一次向上反彈仍有可能發生。

While past trends can not guarantee future outcomes, they still provide insights into potential market movements. With Bitcoin experiencing rapid growth and surging past $100,000, a market top could be in sight any time soon.

雖然過去的趨勢不能保證未來的結果，但它們仍然可以提供對潛在市場趨勢的洞察。隨著比特幣經歷快速增長並飆升至 10 萬美元以上，市場頂部可能很快就會出現。

BTC Hits New ATH, What’s Next?

BTC突破新ATH，下一步是什麼？

Recently, Bitcoin achieved a new ATH, surging past previous resistance levels to reach $106,260. The cryptocurrency’s price had jumped over 4.8% in one day, fueling discussions and excitement in the crypto community. Despite reaching a new ATH, BTC has since corrected to $105,013 as of writing.

最近，比特幣創下了新的 ATH，突破了先前的阻力位，達到 106,260 美元。該加密貨幣的價格一天之內上漲了 4.8% 以上，引發了加密社群的討論和興奮。儘管達到了新的最高點，但截至撰寫本文時，BTC 已修正至 105,013 美元。

Crypto analyst Captain Faibik on X has also expressed excitement about the new ATH, providing an even more bullish outlook for the pioneer cryptocurrency. According to Faibik, the Bitcoin Ascending Triangle upside breakout has been officially confirmed on the daily timeframe, indicating a potential for an uptrend continuation.

X 上的加密貨幣分析師 Captain Faibik 也表達了對新 ATH 的興奮，為先鋒加密貨幣提供了更樂觀的前景。據 Faibik 稱，比特幣上升三角形的上行突破已在每日時間範圍內得到正式確認，顯示上升趨勢有可能延續。

The analyst predicts that Bitcoin could retest support levels but expects the cryptocurrency to initiate its next bullish surge afterward. Consequently, Faibik has set his next BTC target between $113,000 and $115,000 before the end of 2024.

分析師預測，比特幣可能會重新測試支撐位，但預計加密貨幣隨後將啟動下一次看漲飆升。因此，Faibik 將 2024 年底前的下一個 BTC 目標設定在 113,000 美元至 115,000 美元之間。