比特币积累地址显示出强烈购买的迹象，是BTC的看涨信号

链上的数据显示，没有销售历史的比特币投资者重新积累，这可能是BTC的价格看涨的标志。

On-chain data reveals that Bitcoin investors with no selling history are once again accumulating heavily, a sign that could be bullish for BTC’s price.

链上的数据表明，没有销售历史的比特币投资者再次积累了大量积累，这可能是BTC的价格看涨的标志。

On-chain analytics firm CryptoQuant discussed the demand from Bitcoin’s Permanent Holders in a new post on X. Also known as Accumulation Addresses, Permanent Holders are BTC wallets that have never made an outflow transaction.

链上分析公司CryptoQuant在X上的一篇新帖子中讨论了比特币永久持有人的需求。也称为累积地址，永久持有人是BTC钱包，从未进行过流出交易。

In essence, Permanent Holders are investors who have only ever bought and never sold the cryptocurrency. There are a few other restrictions on which addresses can fall into this category, a key one being that they shouldn’t be linked to miners or exchanges.

从本质上讲，永久持有人是只有购买并且从未出售加密货币的投资者。地址可以属于此类别的其他一些限制，关键是他们不应该将其链接到矿工或交易所。

The rationale behind this is that these two entities contribute to the market's selling pressure. As a result, their holdings can be considered the "sell supply" of the cryptocurrency, which is the opposite of what Accumulation Addresses represent.

其背后的理由是，这两个实体有助于市场的销售压力。结果，他们的持股可以视为加密货币的“卖出供应”，这与累积地址所代表的相反。

Now, here is a chart shared by the analytics firm that shows the trend in the demand from these investors over the last couple of years:

现在，这是分析公司共享的图表，该图表显示了过去几年这些投资者需求的趋势：

According to the above graph, the Bitcoin Accumulation Addresses were on a buying spree during the last couple of months of 2024. However, in January of this year, their demand sharply dropped to below the 30-day simple moving average (SMA).

根据上图，比特币的积累地址在2024年的最后几个月中进行了购买。但是，在今年1月，它们的需求急剧下降到30天的简单移动平均线（SMA）。

This accumulation from the cohort is what supported the bull run and its waning is probably the reason for the slowdown in the cryptocurrency’s price that followed.

该队列的积累是支持牛跑的原因，其减弱可能是加密货币价格下降的原因。

In the last few days, however, the demand from the group has once again accelerated, which means that supply is constantly being locked in the hands of these HODLers.

但是，在过去的几天中，该小组的需求再次加速，这意味着供应不断地锁在这些杂物手中。

The indicator has also broken back above the 30-day SMA sharply, much like it did during the breakout of 2024. “Historically, this signals strong confidence and often precedes rallies,” CryptoQuant notes.

该指标还急剧地折断了30天的SMA，就像在2024年的突破中一样。“从历史上看，这表明了强烈的信心，并且经常在集会之前，” Cryptoquant指出。

It is important to note that the Permanent Holders are not all going to be "permanent," as at least some of this group will eventually sell to reap the rewards of their patience.

重要的是要注意，永久持有人并非全部都是“永久性的”，因为至少该小组中的一些最终将出售以获得耐心的回报。

However, investors with no selling history are likely to maintain it at least for some time, which is why buying from Accumulation Addresses is considered bullish.

但是，没有销售历史的投资者至少可能会在一段时间内维持它，这就是为什么从积累地址购买被认为是看好的原因。

The cohort will be interesting to watch in the coming days to see where their demand trends. This, in turn, could end up being crucial for Bitcoin. A continuation of the upwards trajectory would be positive, while a slowdown could lead to flat action in the asset.

在接下来的几天里，观看他们的需求趋势将很有趣。反过来，这最终可能对比特币至关重要。向上轨迹的延续将是积极的，而放缓可能会导致资产的平坦行动。

BTC Price

BTC价格

Bitcoin has been unable to decide a direction in the last few days as its price is still trading around the $98,700 mark.

比特币在过去几天中无法确定方向，因为其价格仍在$ 98,700左右。