休眠比特幣攪拌市場：3500 萬美元的藏品轉移引發拋售擔憂

大約 500 個休眠比特幣 (BTC) 最近被轉移到新錢包，重新引發了加密貨幣社群的討論。該藏品於 2021 年 7 月收購，當時 BTC 估值為 7.57 美元，目前價值 3,500 萬美元。這些舊代幣的走勢引發了人們對潛在拋售的猜測，一些分析師將其歸因於賣方流動性危機，即需求超過供應。

Dormant Bitcoins Stir Market Curiosity: $35 Million Stash Transferred, Signaling Potential Sell-Off

休眠比特幣激起了市場好奇心：3500萬美元的藏品被轉移，預示著潛在的拋售

In a captivating development that has sent shockwaves through the cryptocurrency market, approximately 500 Bitcoins (BTC), dormant for nearly 12 years, have been transferred to multiple new wallets. The stash, now worth a staggering $35 million, was acquired in July 2021 when BTC traded at a mere $7.57, indicating a potential profit margin of over 9247x.

這一令人著迷的發展為加密貨幣市場帶來了衝擊，大約 500 個休眠了近 12 年的比特幣 (BTC) 已被轉移到多個新錢包中。這些藏品目前價值驚人的 3,500 萬美元，是在 2021 年 7 月收購的，當時 BTC 的交易價格僅為 7.57 美元，這表明潛在利潤率超過 9,247 倍。

While the identity of the entity behind the transfer remains shrouded in mystery, market observers suspect it may be preparing for a substantial sell-off. The sudden awakening of dormant coins has sparked a wave of speculation and analysis, with some experts suggesting it could be a precursor to a broader market trend.

儘管此次轉讓背後的實體身分仍然籠罩在神秘之中，但市場觀察家懷疑它可能正在為大幅拋售做準備。休眠代幣的突然甦醒引發了一波猜測和分析，一些專家認為這可能是更廣泛市場趨勢的前兆。

Data from Santiment, a leading on-chain analytics firm, reveals a steady decline in the Mean Coin Age indicator for BTC throughout March, indicating that older coins are being actively traded. This surge in activity could be attributed to several factors.

領先的鏈上分析公司 Santiment 的數據顯示，整個 3 月 BTC 的平均幣齡指標穩步下降，顯示舊幣的交易活躍。活動激增可能歸因於幾個因素。

Firstly, it is possible that the wallet holder has regained access to their BTC after a period of being locked out due to lost private keys or a malfunctioning cold wallet. While this scenario is relatively rare, it cannot be discounted.

首先，錢包持有者有可能在因私鑰丟失或冷錢包故障而被鎖定一段時間後重新獲得了其 BTC。雖然這種情況相對罕見，但也不容忽視。

Alternatively, the transfer could be the work of long-term holders (LTHs) who have patiently watched Bitcoin's value soar and are now seeking to lock in their gains. This hypothesis is supported by the recent rise in Bitcoin's price, which has been fueled by strong institutional demand.

或者，轉移可能是長期持有者（LTH）的工作，他們耐心地看著比特幣的價值飆升，現在正在尋求鎖定他們的收益。這一假設得到了最近比特幣價格上漲的支持，而比特幣價格的上漲是由強勁的機構需求所推動的。

Ki Young Ju, CEO of on-chain analytics firm CryptoQuant, offers a more nuanced explanation. He believes the recent movement of old coins is a symptom of a "sell-side liquidity crisis" in the Bitcoin market. This crisis arises when there is an insufficient supply of BTC to meet the overwhelming demand from buyers.

鏈上分析公司 CryptoQuant 的執行長 Ki Young Ju 提供了更細緻的解釋。他認為最近舊幣的走勢是比特幣市場「賣方流動性危機」的症狀。當比特幣供應不足以滿足買家的巨大需求時，這場危機就會發生。

The introduction of spot exchange-traded funds (ETFs) has significantly increased demand for BTC, particularly from institutional investors. However, Bitcoin's production has not kept pace with this demand, resulting in a shortage of coins available for trading. Consequently, older coins are being moved to capitalize on the heightened demand.

現貨交易所交易基金（ETF）的推出顯著增加了對比特幣的需求，尤其是機構投資者的需求。然而，比特幣的生產未能跟上這種需求，導致可用於交易的硬幣短缺。因此，舊硬幣正在被轉移，以利用不斷增長的需求。

The transfer of the dormant 500 BTC has raised questions about the future direction of the cryptocurrency market. If the stash is indeed sold off, it could potentially trigger a correction or even a bear market. However, it is also important to note that the overall health of the market remains strong, with ongoing developments in decentralized finance (DeFi) and non-fungible tokens (NFTs) fueling investor optimism.

休眠的 500 BTC 的轉移引發了人們對加密貨幣市場未來方向的質疑。如果這些藏品確實被拋售，可能會引發調整甚至熊市。然而，還需要注意的是，市場的整體健康狀況仍然強勁，去中心化金融（DeFi）和不可替代代幣（NFT）的持續發展激發了投資者的樂觀情緒。

As the cryptocurrency market continues to evolve and mature, it is essential for investors to monitor on-chain data and stay abreast of market trends. The sudden awakening of dormant Bitcoins serves as a reminder of the dynamic and unpredictable nature of digital assets, underscoring the need for both informed decision-making and a cautious approach.

隨著加密貨幣市場的不斷發展和成熟，投資者監控鏈上數據並及時了解市場趨勢至關重要。休眠比特幣的突然甦醒提醒人們數位資產的動態性和不可預測性，強調了明智決策和謹慎態度的必要性。