Glassnode 數據顯示，比特幣的長期持有者發出潛在轉折點的訊號

Glassnode 的數據顯示長期比特幣持有者之間可能發生轉變。他們是否達到了一個轉折點？這些堅定的持有者是比特幣市場的支柱，儘管市場波動，但他們仍表現出堅定不移的承諾。他們的行為可能預示著一個關鍵時刻即將到來。

Are Long-Term Bitcoin Holders Reaching a Turning Point?

長期比特幣持有者是否已達到轉捩點？

Data from blockchain analytics firm Glassnode suggests that Bitcoin may be approaching a critical juncture. Long-term holders (LTHs), who have held their coins for over 155 days, are showing signs of a shift in their behavior.

區塊鏈分析公司 Glassnode 的數據表明，比特幣可能正接近一個關鍵時刻。持有代幣超過 155 天的長期持有者 (LTH) 正顯示出行為轉變的跡象。

Who Are Bitcoin's Long-Term Holders?

誰是比特幣的長期持有者？

LTHs are the backbone of Bitcoin's market. They are unwavering believers who have weathered the ups and downs of the crypto world. Unlike short-term holders (STHs) who are more susceptible to market volatility, LTHs have demonstrated a steadfast commitment to holding their coins.

LTH 是比特幣市場的支柱。他們是堅定不移的信徒，經歷了加密世界的風風雨雨。與更容易受到市場波動影響的短期持有者 (STH) 不同，LTH 表現出了持有其代幣的堅定承諾。

What Does the Glassnode Report Reveal?

Glassnode 報告揭示了什麼？

Glassnode's "LTH Market Inflation Rate" metric tracks the annual inflow and outflow of Bitcoin from LTHs relative to the daily issuance by miners. When the indicator is below 0%, it suggests that LTHs are accumulating Bitcoin; when it is above 0%, it indicates that they are distributing or not buying enough to offset miner issuance.

Glassnode 的「LTH 市場通膨率」指標追蹤 LTH 中比特幣的年度流入和流出相對於礦工每日發行量的情況。當該指標低於0%時，表示LTH正在累積比特幣；當它高於 0% 時，表示他們正在分配或購買的數量不足以抵消礦工的發行量。

What Does the Rising LTH Market Inflation Rate Tell Us?

LTH市場通膨率上升告訴我們什麼？

Currently, the LTH Market Inflation Rate is rising, indicating that LTHs are entering the early stages of a distribution cycle. This suggests that the supply-demand balance is shifting, with LTHs potentially taking profits after a prolonged period of accumulation.

目前，LTH市場通膨率正在上升，顯示LTH正進入分配週期的早期階段。這表明供需平衡正在發生變化，長期累積後，LTH 可能會獲利了結。

What Impact Will This Have on Bitcoin's Price?

這將對比特幣的價格產生什麼影響？

Historically, market movements have been influenced by LTH distribution. If LTHs continue to distribute their coins, it could put downward pressure on Bitcoin's price. However, the market may also find a new equilibrium as supply and demand adjust.

從歷史上看，市場走勢一直受到 LTH 分佈的影響。如果 LTH 繼續分發他們的代幣，可能會對比特幣的價格造成下行壓力。不過，隨著供需調整，市場也可能找到新的平衡。

Where Is Bitcoin Headed Next?

比特幣下一步將走向何方？

Bitcoin has recently retraced from its recent high, pulling back to around $63,800. The market is closely watching the performance of Bitcoin as it seeks a new equilibrium. The outcome of the current distribution cycle will likely play a significant role in determining Bitcoin's next price move.

比特幣最近從近期高點回落，回落至 63,800 美元左右。市場正在密切關注比特幣的表現，以尋求新的平衡。當前分配週期的結果可能會在決定比特幣下一步價格走勢方面發揮重要作用。

Is Bitcoin Approaching a New Crest?

比特幣正在接近新的頂峰嗎？

The question remains: will Bitcoin find a new crest after this distribution cycle? While the market remains uncertain, LTH behavior and the supply-demand dynamics will be key factors to watch in the coming weeks and months.

問題仍然是：在這個分配週期之後，比特幣會找到新的頂峰嗎？儘管市場仍存在不確定性，但 LTH 行為和供需動態將是未來幾週和幾個月值得關注的關鍵因素。