3到6個月大的比特幣買家最近一直保持強大，表明信念不是屈服

鏈上分析公司GlassNode解釋了在比特幣頂部購買的投資者如何表現出信念，而不是投降。

On-chain analytics firm Glassnode explains how investors who bought at the Bitcoin top are showing conviction, not capitulation.

鏈上分析公司GlassNode解釋了在比特幣頂部購買的投資者如何表現出信念，而不是投降。

3 To 6 Months Old Bitcoin Buyers Have Been Holding Strong Recently

3到6個月大的比特幣買家最近一直保持強大

In a new post on X, on-chain analytics firm Glassnode has discussed a couple of Bitcoin investor cohorts. One of these groups is the “long-term holder” (LTH) cohort, which includes the BTC investors who bought their coins more than 155 days ago.

在X上的新帖子中，鏈分析公司GlassNode討論了一些比特幣投資者同夥。這些團體之一是“長期持有人”（LTH）的同夥，其中包括155天以上購買硬幣的BTC投資者。

Statistically, the longer a holder keeps their coins dormant, the less likely they become to move the coins at any point. As such, the LTHs with their appreciable time represent the resolute side of the market.

從統計上講，持有人保持硬幣處於休眠狀態，他們在任何時候移動硬幣的可能性就越小。因此，LTH及其可觀的時間代表了市場的堅決。

Though, while these investors can be termed as ‘diamond hands,’ it’s not as if they never participate in any selling at all. In fact, during two selling waves in the current cycle alone, the group has done a total distribution of 2 million BTC.

但是，儘管這些投資者可以被稱為“鑽石之手”，但似乎根本沒有參加任何銷售。實際上，僅在當前週期中的兩個銷售波中，該集團的總分佈為200萬BTC。

This chart shows the change in the LTH supply. Credit: Glassnode

該圖顯示了LTH供應的變化。學分：玻璃節

From the above graph, it’s visible that the first LTH selloff was followed by a period of re-accumulation, which brought the group’s supply back to almost the same level as before the distribution wave.

從上圖可以看出，第一個第一位拋售之後是重新積累的時期，這使該集團的供應恢復到了分配浪潮之前的水平幾乎相同。

The second distribution phase, which occurred between October 2024 and January 2025, is also similarly being followed by an accumulation wave, as the LTH supply has been rising during the last couple of months. “This cyclical balance may be stabilizing price action,” notes the analytics firm.

第二個分配階段發生在2024年10月至2025年1月之間，隨後也是累積浪潮，因為在過去的幾個月中，LTH供應一直在上升。分析公司指出：“這種週期性的平衡可能正在穩定價格行動。”

Something to note is that whenever the LTH supply rises, it doesn’t represent any buying that’s occurring in the ‘now.’ Rather, it shows that some accumulation occurred 155 days ago and those coins have now been held long enough to become a part of the cohort.

需要注意的是，每當LTH供應上升時，它都不代表“現在”中發生的任何購買。相反，它表明有些積累發生在155天前，這些硬幣現在已經被足夠長的時間來成為該隊列的一部分。

This five-month cutoff puts the latest LTH acquisition point at the end of November, which means that the recent increase in the indicator correlates to buying that took place during the BTC rally to prices above $90,000.

這個五個月的臨界值將11月底的最新第lth收購點提出了最新的收購點，這意味著該指標最近的增加與在BTC Rally期間發生的購買的價格相關聯，價格達到了90,000美元以上的價格。

Many of the November buyers should still be in the red, but these investors have continued to hold, becoming the fabled HODLers.

11月的許多買家仍應處於紅色中，但是這些投資者繼續持有，成為傳說中的霍德爾人。

Another interesting group of investors is the 3-month to 6-month cohort. This group contains the holders who are transitioning into the LTHs. A large part of these investors would have bought at or near the price all-time high (ATH).

另一個有趣的投資者是3個月到6個月的隊列。該小組包含過渡到LTHS的持有人。這些投資者中很大一部分將以史無前例的價格（ATH）購買。

As of December 2024, this group still has around 680,000 BTC, which is valued at roughly $57 billion at today’s prices. In the last three months alone, the wealth of this group has increased by 20%, even as the Bitcoin price has stayed largely range-bound.

截至2024年12月，該集團仍然擁有大約680,000個BTC，其價值約為570億美元。僅在過去的三個月中，即使比特幣的價格在很大程度上限制了，該集團的財富就會增長20％。

Naturally, the weak hands who got in during the Bitcoin top would have already capitulated long ago and never matured into the 3 months to 6 months range, but it’s still significant that those who are left aren’t shaken by the market volatility.

自然，在比特幣頂部進入的軟弱的手已經很久以前就已經引發了，並且從未成熟到3個月至6個月的範圍，但是仍然很重要的是，那些不因市場波動而動搖的人仍然很重要。

BTC Price Today

今天的BTC價格

At the time of writing, Bitcoin is trading at around $84,300. The leading cryptocurrency is down by more than 3% in the seven days.

在寫作時，比特幣的交易價格約為84,300美元。在7天內，領先的加密貨幣下降了3％以上。