新鯨魚正在積極積累比特幣（BTC），為新的看漲奔跑奠定了基礎？

比特幣（BTC）繼續以低於90,000美元的心理交易，其價格為82,346美元。

Bitcoin (BTC) trades below the psychological $90,000 level, with its price at $82,346 after a 24.3% drop from the all-time high above $109,000 in January.

比特幣（BTC）的交易低於心理$ 90,000的水平，其價格為82,346美元，此前一月份的歷史高度高於109,000美元，其價格下降了24.3％。

But new on-chain data suggests a surge of high-net-worth investors, or “new whales,” who have been accumulating BTC aggressively.

但是，新的鏈上數據表明，高淨值投資者或“新鯨魚”的激增，他們積極積累了BTC。

According to CryptoQuant analyst onchained, a distinct group of Bitcoin holders with at least 1,000 BTC—acquired within the past six months—has been actively accumulating.

根據CryptoQuant分析師的說法，一群具有至少1,000 BTC的比特幣持有人（在過去六個月內獲得）一直在積極積累。

This trend, which started in November 2024, has accelerated significantly in recent weeks.

這種趨勢始於2024年11月，最近幾週已大大加速。

These "new whales" have now amassed over 1 million BTC in total and added more than 200,000 BTC this month alone.

這些“新鯨魚”現在總共積累了超過100萬BTC，僅本月就增加了200,000多個BTC。

This unprecedented accumulation trend suggests strong confidence in Bitcoin’s long-term outlook. The rapid expansion of new whale holdings indicates that institutional investors or high-net-worth individuals are increasing their exposure to Bitcoin.

這種空前的積累趨勢表明對比特幣長期前景的信心很大。新鯨魚持有的迅速擴張表明，機構投資者或高淨值個人正在增加對比特幣的接觸。

Moreover, the majority of these newly acquired holdings are being retained for short periods (less than six months). This aligns with the observation that investors see value at current price levels and are willing to hold despite market fluctuations.

此外，這些新收購的持股中的大多數正在短期內（不到六個月）。這與投資者在當前價格水平上的價值看到的觀察結果一致，儘管市場波動，但仍願意持有。

If this accumulation trend continues, it could serve as a strong support mechanism for Bitcoin’s price in the coming months.

如果這種積累趨勢繼續下去，它可以在未來幾個月內成為比特幣價格的強大支持機制。

Onchained also speculated that Bitcoin could revisit its all-time high and potentially break beyond it, mentioning possible price targets of $150,000 or even $160,000.

Onchained還推測，比特幣可能會重新審視其歷史最高水平並有可能超越其超越它，提到可能的價格目標為150,000美元甚至160,000美元。

However, market conditions, liquidity, and investor sentiment will play a crucial role in determining the sustainability of this trend.

但是，市場狀況，流動性和投資者情緒將在確定這一趨勢的可持續性中發揮關鍵作用。

"Since November 2024, these wallets have collectively acquired over 1 million BTC… Their accumulation pace has accelerated notably in recent weeks, accumulating more than 202,000 BTC just this month." - By @0nchained pic.twitter.com/jVsFPjY8WA

“自2024年11月以來，這些錢包共同收購了超過100萬個BTC……他們的積累速度在最近幾周中尤其加速，本月累積了超過202,000 BTC。” - @0nchained pic.twitter.com/jvsfpjy8wa

— CryptoQuant.com (@cryptoquant_com) March 18, 2025

- cryptoquant.com（@cryptoquant_com）2025年3月18日

Is Bitcoin Demand Weakening?

比特幣需求削弱嗎？

Another CryptoQuant analyst, BilalHuseynov, pointed out potential concerns about Bitcoin’s demand momentum.

另一位加密分析師Bilalhuseynov指出了對比特幣需求勢頭的潛在擔憂。

His analysis shows that Bitcoin saw peaks in demand in both March and December 2024. This marks the first time two demand peaks have occurred in close succession.

他的分析表明，比特幣在2024年3月和12月的需求中都達到了高峰。這標誌著第一次近距離發生了兩個需求峰。

But following the March peak, a significant decline in demand is evident.

但是，在三月峰值之後，需求大幅下降是顯而易見的。

Huseynov compared this trend to previous market cycles, particularly the 2017-2018 period. During that cycle, momentum peaks were followed by price fluctuations and a gradual decrease in demand.

Huseynov將這種趨勢與以前的市場週期進行了比較，尤其是2017-2018時期。在該週期中，動量峰值之後是價格波動，需求逐漸減少。

While factors such as market size, trading volume, and liquidity have changed drastically since then, the current trend suggests that Bitcoin’s demand may be softening, which could have implications for price movements in the near term.

儘管從那以後，諸如市場規模，交易量和流動性之類的因素發生了巨大變化，但目前的趨勢表明，比特幣的需求可能會變軟，這可能會在近期對價格變動產生影響。