與Q1 2024相比

根據一名鏈分析師的說法，與Q1 2024相比，第二季度2025年休眠比特幣（BTC）的運動增加了121％。

According to an on-chain analyst, the movement of dormant Bitcoins (BTC) increased by 121% in Q1 2025 compared to Q1 2024.

根據一名鏈分析師的說法，與Q1 2024相比，第二季度2025年休眠比特幣（BTC）的運動增加了121％。

This shift may signal that long-term investors are reacting to broader economic trends or anticipating market changes.

這種轉變可能表明，長期投資者正在對更廣泛的經濟趨勢或預期市場變化做出反應。

Dormant Bitcoin on the Move: What’s Driving the Trend?

移動中休眠的比特幣：是什麼推動了趨勢？

In a recent post on CryptoQuant, the analyst revealed that investors moved around 28,000 dormant Bitcoins in Q1 2024. March was particularly noteworthy, with approximately 19,296 BTC moved. This was in contrast to the lower figures in January (approximately 3,034 BTC) and February (approximately 5,678 BTC).

分析師在最近的一篇關於加密貨幣的文章中透露，投資者在2024年第1季度移動了約28,000個休眠的比特幣。三月特別值得注意，大約19,296 BTC移動了。這與一月份的較低數字（約3,034 BTC）和2月（約5,678 BTC）形成對比。

“In the first three months of 2025, more than twice the amount of long-dormant Bitcoin has been moved compared to the same period in 2024,” the post read.

“在2025年的前三個月中，與2024年同期相比，長期休眠比特幣的數量已移動的兩倍以上。”

Comparing this to the first quarter of 2025, the total amount of Bitcoin moved was notably higher. Over 62,0 Bitcoins, dormant for over seven years, was transferred. Specifically, investors moved 24,595 BTC in January, 21,820 BTC in February, and 16,456 BTC in March.

將此與2025年第一季度進行比較，比特幣的總量移動量明顯更高。超過62,0比特幣，休眠了7年以上，被轉移了。具體來說，投資者在1月份遷移了24,595 BTC，2月21,820 BTC和3月的16,456 BTC遷移。

The analyst suggested that this surge in activity reflects a shift in sentiment among long-term Bitcoin holders. This shift could be driven by macroeconomic factors, evolving price expectations, or institutional liquidity demands.

分析師認為，這種活動激增反映了長期比特幣持有人情緒的轉變。這種轉變可能是由宏觀經濟因素，價格期望不斷發展或機構流動性需求驅動的。

Notably, 2025 has proven to be a turbulent year for Bitcoin. Geopolitical shifts, rising trade tensions, and growing economic concerns have significantly impacted the market.

值得注意的是，2025年被證明是比特幣的動盪一年。地緣政治轉變，貿易緊張局勢的上升以及日益增長的經濟關注對市場產生了重大影響。

Recently, Glassnode pointed out that Bitcoin has experienced its deepest drawdown of the cycle. In its weekly newsletter, the firm emphasized that investors are facing intense pressure. Furthermore, many are currently experiencing their largest unrealized losses ever.

最近，GlassNode指出，比特幣在周期中經歷了最深的縮水。該公司在每週的新聞通訊中強調，投資者面臨著巨大的壓力。此外，許多人目前正在遭受有史以來最大的未實現損失。

“Current unrealized losses are largely concentrated among newer investors, while long-term holders remain in a position of unilateral profitability. However, an important nuance is emerging, as recent top buyers age into long-term holder status, as noted, the level of unrealized loss within this cohort is likely to increase,” the newsletter read.

“當前未實現的損失主要集中在新的投資者中，而長期持有人仍然處於單方面盈利能力的位置。但是，正如最近的頂級買家在長期持有人身份中的年齡增長，這一群體中未實現的損失水平可能會增加，”新聞通訊記錄說。

However, Glassnode noted that BTC’s dip remains within the typical range of previous corrections seen in bull markets. Importantly, Bitcoin has also been on a recovery rally lately.

但是，GlassNode指出，BTC的傾角仍在牛市以前的校正範圍內。重要的是，比特幣最近也進行了恢復集會。

Over the past week, its value has appreciated by 8.9%. Yet, daily losses stood at 2.2%. At the time of writing, BTC was trading at $92,164. The decline wasn’t isolated, as the broader crypto market also experienced a correction.

在過去的一周中，其價值增長了8.9％。然而，每日損失為2.2％。在撰寫本文時，BTC的交易價格為92,164美元。由於更廣泛的加密市場也進行了更正，因此下降並沒有孤立。

Meanwhile, the increased movement of dormant assets is not limited to Bitcoin. A parallel trend has emerged in the Ethereum (ETH) market.

同時，休眠資產的增加不限於比特幣。以太坊（ETH）市場出現了平行趨勢。

Data from Lookonchain showed that in early February, a whale deposited its entire holdings of 77,736 ETH into Bitfinex after being inactive for six years.

LookonChain的數據顯示，在2月初，一條鯨魚在六年不活動後將其全部77,736 ETH的持有量存入了Bitfinex。

In early April, Onchain Lens posted about an eight-year dormant whale moving 11,104 ETH worth 19.97 million.

4月初，Onchain Lens發布了約八年的休眠鯨魚，搬遷11104 ETH，價值1997萬。

“Of this, 247.93 ETH was sent to Coinbase and 10,856 ETH to a new wallet. The whale initially withdrew ETH for $2.51 million from Kraken and Gemini, 8 years ago,” Onchain Lens added.

“其中，有247.93 ETH被送往Coinbase，10,856 ETH送往一個新錢包。鯨魚最初以8年前的Kraken和Gemini以251萬美元的價格撤回了ETH，” Onchain Lens補充說。

This asset movement reflects investors’ strategic repositioning amid economic uncertainty.

這種資產運動反映了經濟不確定性和經濟不確定性的戰略重新定位。