比特币[BTC]底部可能会随着鲸鱼的销量继续积聚

几个关键条件对齐时，比特币[BTC]通常形成。首先，它建立了一个关键的积累区，卖方流动性

Bitcoin price has been hovering above $80k despite the massive sell-side pressure. According to on-chain data, this is due to Bitcoin whales actively accumulating while smaller investors are capitulating.

尽管卖方压力很大，但比特币价格仍在徘徊在8万美元以上。根据链链数据，这是由于比特币鲸在较小的投资者倾斜的同时积极积累的鲸鱼所致。

Bitcoin price is showing signs of a bottom as it continues to hold above the critical support level of $80k. Despite the broader cryptocurrency market sentiment swinging between fear and greed, Bitcoin’s ability to stay afloat might be due to a familiar pattern spotted by on-chain data.

比特币的价格显示出底部的迹象，因为它继续保持高于$ 80K的关键支持水平。尽管恐惧和贪婪之间存在更广泛的加密货币市场情绪，但比特币保持漂浮的能力可能是由于链接数据发现的熟悉模式所致。

As on-chain data from CryptoQuant showed, Bitcoin whales, or those holding 1k–10k BTC (marked in orange), have been sharply increasing their total balance despite the recent market correction.

正如加密量牌的链上数据所示，尽管最近进行了市场纠正，但比特币鲸或持有1K – 10K BTC的人（橙色标记）已大大增加了总余额。

This period of accumulation has been a key factor in preventing a deeper market correction, suggesting that whale activity is absorbing sell-side pressure and providing the support needed to stabilize Bitcoin prices.

这一积累时期一直是防止更深层次的市场纠正的关键因素，表明鲸鱼活动正在吸收卖方压力，并提供稳定比特币价格所需的支持。

As noted by AMBCrypto’s recent analysis, the SOPR (Spent Output Profit Ratio) remains below 1. This is a sign that short-term holders (STHs) with positions older than 155 days have been realizing losses.

正如Ambcrypto最近的分析所指出的那样，SOPR（用过的产出利润率）仍低于1。这表明短期持有人（STH）的职位年龄大于155天，已经意识到损失。

Put simply, with Bitcoin down 23% from its all-time high of $109k, a significant pool of buyers’ acquisition value remains well above the press time market value of $83k.

简而言之，由于比特币比其历史最高109K的高价下降了23％，因此，大量的买家的收购价值仍远高于新闻时间市场价值83,000美元。

According to AMBCrypto’s analysis, the average acquisition price for these STHs, who hold coins for more than 155 days, is $95,138, where roughly 4.28 million BTC were traded. This equates to approximately $407 billion in potential sell-off risk from these holders.

根据Ambcrypto的分析，这些STH的平均购置价格超过155天，为95,138美元，交易约为428万BTC。这相当于这些持有人的潜在抛售风险约为407亿美元。

Should STHs capitulate, we could see a surge in sell pressure. Even so, the question remains – Will whales continue to absorb this pressure and confirm $80k as a strong bottom?

如果STH屈服，我们可能会看到卖出压力激增。即便如此，问题仍然存在 - 鲸鱼是否会继续吸收这种压力并确认$ 80K是强大的底部？

Bitcoin whales are accumulating as smaller investors panic sell

随着较小的投资者的恐慌卖出，比特币鲸正在积累

The pattern of Bitcoin whales accumulating while smaller investors panic-sell is a scenario that usually plays out at cycle bottoms. For instance, during the 2020 cycle, we saw a similar narrative unfold.

比特币鲸的模式积累，而较小的投资者恐慌是一种通常在周期底部发挥作用的情况。例如，在2020年的周期中，我们看到了类似的叙述。

During that phase, BTC broke above $10k for the first time by mid-Q3, kicking off what came to be known as the “breakout cycle.”

在那个阶段，BTC在第四季度中期首次打破了1万美元以上，开始被称为“突破周期”。

In a striking parallel, CryptoQuant data showed no signs of Bitcoin whales exiting during the 2020 bull run. This implied that these whales may still be absorbing sell-side pressure. This could lay the groundwork for a major shift in the current cycle.

在惊人的平行过程中，加密数据显示，在2020年公牛运行期间没有出现比特币鲸的迹象。这意味着这些鲸鱼可能仍在吸收卖方压力。这可以为当前周期的重大转变奠定基础。

Right now, there is no significant distribution from these whales. In fact, instead of going dormant, they are actively accumulating. Hence, the chances of a collapse below $77k–$80k due to macroeconomic uncertainty or weak hands exiting are low.

目前，这些鲸鱼没有明显的分布。实际上，他们没有休眠，而是积极积累。因此，由于宏观经济的不确定性或出口弱的手，倒塌低于$ 77K - $ 80K的机会很低。

U.S. buy orders remain robust as Bitcoin exchange reserves continue to plunge.

随着比特币交换储量继续下降，美国的购买订单仍然强劲。

If these dynamics align in the coming days, Bitcoin could be on the cusp of confirming a market bottom.

如果这些动态在未来几天保持一致，那么比特币可能会在确认市场底部的风口浪尖上。