隨著散戶投資者逢高拋售，比特幣鯨魚囤積比特幣

過去 30 天，「蝦米」淨賣出了約 70 億美元的比特幣。另一方面，交易所中的比特幣數量略低於 300 萬，創兩年來新低。

Retail investors, or "shrimps" in crypto parlance, have been net sellers of a large amount of bitcoin over the past 30 days, to the tune of about $7 billion, according to on-chain data from Glassnode.

根據 Glassnode 的鏈上數據，散戶投資者（或加密貨幣中的「蝦」）在過去 30 天內淨賣出了大量比特幣，價值約 70 億美元。

On the other hand, exchange balances show that just under 3 million bitcoin are sitting on exchanges, a two-year low.

另一方面，交易所餘額顯示，交易所中的比特幣數量略低於 300 萬，創兩年來新低。

OTC desk balances, though, have seen a rise of roughly 100,000 bitcoin.

不過，場外交易櫃檯餘額增加了約 10 萬個比特幣。

With bitcoin continuing to post record highs and now nearing the $100,000 level, profit-taking is on the rise — $4 billion of realized profit in each of the last two days, according to Glassnode — but for every seller, there's a buyer, so a closer look at the data might be warranted.

隨著比特幣繼續創下歷史新高，目前已接近10 萬美元的水平，獲利回吐正在增加——根據Glassnode 的數據，過去兩天每天實現的利潤達40 億美元——但對於每個賣家來說，都有一個買家，所以仔細研究數據可能是必要的。

Here's a breakdown of the key takeaways from the latest on-chain metrics.

以下是最新鏈上指標的關鍵要點的細分。

Retail realized profits hit $7B in 30 days

零售業實現利潤在 30 天內達到 7B 美元

So-called "shrimps" or retail investors have sold approximately 75,000 BTC ($7 billion), according to Glassnode. That's the largest distribution from this cohort since bitcoin broke its all-time in March at above $73,000.

據 Glassnode 稱，所謂的「蝦」或散戶投資者已售出約 75,000 BTC（70 億美元）。這是自 3 月份比特幣突破 73,000 美元歷史最高紀錄以來，該群體的最大分佈。

While it's commonly thought that retail investors may represent "dumb money," at least some research suggests otherwise.

雖然人們普遍認為散戶投資者可能代表“傻錢”，但至少一些研究表明事實並非如此。

And who is buying retails' bags? Large holders — dubbed "sharks — who hold a bitcoin balance between 100 and 1,000 BTC have accumulated over 140,000 BTC, according to Glassnode.

誰在購買零售包？根據 Glassnode 的數據，持有 100 到 1,000 BTC 的比特幣餘額的大持有者（被稱為「鯊魚」）已經累積了超過 140,000 BTC。

Divergence occurring between exchange balances and OTC desks

外匯餘額和場外交易櫃檯之間出現差異

The exchange balance action might tell a different story. Over-the-counter desk balances have continued their strong rise over the second half of 2024, suggestive of large investors cashing in on bitcoin's surge. Bitcoin's breach of $90,000 this week led to OTC desk balances rising by another 20,000 tokens, according to CryptoQuant.

外匯平衡行動可能會講述一個不同的故事。 2024 年下半年，場外交易餘額持續強勁成長，顯示大型投資者正在從比特幣的飆升中獲利。據 CryptoQuant 稱，比特幣本週突破 9 萬美元，導致場外交易平台餘額增加了 2 萬個代幣。

Retail exchange balances, however, have fallen to less than 3 million tokens, according to Glassnode, the lowest level in two years. That would seemingly be evidence of strong buying interest.

然而，根據 Glassnode 的數據，零售交易所餘額已降至不到 300 萬個代幣，為兩年來的最低水準。這似乎是強勁購買興趣的證明。

Bottom line: There appears to be a tug of war in the data, with one set indicating sizable retail profit taking similar to the market top earlier this year and another set showing the opposite. As always, the short-term outlook remains cloudy.

底線：數據中似乎存在一場拉鋸戰，一組數據顯示散戶獲利了結，與今年早些時候的市場頂部類似，而另一組數據則顯示相反的情況。像往常一樣，短期前景仍然陰暗。