尽管本周动量略有下降，但比特币（BTC）仍在超过84,000美元的交易量。

在短暂接触近90,000美元的较高水平之后，该资产在过去一天下降了3.3％，其目前的价格约为84,222美元。

Bitcoin (BTC) continues to trade above the $84,000 mark despite a slight decline in momentum this week.

尽管本周势头略有下降，但比特币（BTC）仍在超过84,000美元的交易量。

After briefly touching higher levels of nearly $90,000, the asset has seen a 3.3% decrease over the past day, bringing its current price to roughly $84,222. While price volatility remains a short-term concern, Bitcoin’s broader trend shows signs of consolidation within this range.

在短暂接触近90,000美元的较高水平之后，该资产在过去一天下降了3.3％，其目前的价格约为84,222美元。尽管价格波动仍然是一个短期关注的问题，但比特币的更广泛趋势显示了此范围内合并的迹象。

Amid the movement from BTC's price, on-chain analysts are offering insights into Bitcoin's behavior beyond the surface-level price action.

在BTC价格的移动中，链上分析师正在提供对比特币行为的见解，而不是表面上的价格行动。

Bitcoin Mean Coin Age and Supply Dynamics in Focus

比特币平均硬币年龄和供应动态重点

A recent analysis by CryptoQuant contributor Onchained points to Bitcoin's Mean Coin Age (MCA) as a crucial metric for understanding current market sentiment. The MCA represents the average age of unspent transaction outputs (UTxOs), which can help reveal the behavior of long-term holders.

加密贡献者的最新分析对比特币的平均硬币年龄（MCA）的观点进行了分析，这是了解当前市场情绪的关键指标。 MCA代表了未解决的交易产量（UTXO）的平均年龄，这可以帮助揭示长期持有人的行为。

According to Onchained, Bitcoin's recent upward momentum is not a product of short-term speculation or news-driven hype. Rather, it is being influenced by the strategic actions of long-term holders.

根据Onchaining的说法，比特币最近的向上动力不是短期投机或新闻驱动炒作的产物。相反，它受到长期持有人的战略行动的影响。

These participants typically acquire BTC during market downturns and hold through volatile phases, reducing the available supply and gradually increasing scarcity. This behavior creates conditions in which even moderate increases in demand can lead to stronger price responses due to reduced liquidity in the market.

这些参与者通常会在市场下滑期间获得BTC，并通过挥发性阶段保持稳定，减少了可用的供应并逐渐增加了稀缺性。这种行为会产生条件，即由于市场流动性降低而导致需求中等增长也会导致更强的价格响应。

With Bitcoin's supply capped at 21 million, the accumulation of coins by long-term holders contributes to a tightening of supply. As these coins become increasingly illiquid, they apply upward pressure on price when demand strengthens. This mechanism is a core feature of Bitcoin's market dynamics and is viewed by some analysts as a signal of potential bullish continuation. Onchained wrote:

随着比特币的供应限额为2100万，长期持有人的硬币积累有助于收紧供应。随着这些硬币变得越来越流动，当需求加强时，它们对价格施加了向上的压力。这种机制是比特币市场动态的核心特征，一些分析师将其视为潜在看涨的信号。 Onchained写道：

This illiquidity creates a supply-demand imbalance, contributing to upward pressure on prices when demand increases. As fewer coins are available for trading, the price becomes more sensitive to buy-side pressure, leading to stronger upward price movements.

这种流动性不足会产生供需不平衡，在需求增加时会导致价格向上压力。由于可用于交易的硬币较少，因此价格对购买侧压力更加敏感，从而导致价格更高。

Monitoring Behavioral Shifts for Market Signals

监视市场信号的行为转变

The analysis also highlights the significance of a sudden drop in MCA, which can indicate long-term holders are beginning to move their coins. Such behavior may signal changing sentiment, profit-taking, or reactions to broader macroeconomic conditions.

该分析还强调了MCA突然下降的重要性，这可能表明长期持有人开始移动硬币。这种行为可能表明改变情绪，获利或对更广泛的宏观经济条件的反应。

According to Onchained, “the movement of these coins from long-term holders can drive short-term volatility and is a signal that market dynamics are changing.”

根据Onchaining的说法，“这些硬币从长期持有人中移动可以推动短期波动，这表明市场动态正在发生变化。”

Onchained emphasized that relying solely on public commentary or high-profile announcements—such as regulatory statements, ETF launches, or tweets from influential figures—may distract from the deeper, data-driven trends that govern Bitcoin's performance.

Onchained强调，仅依靠公众评论或备受瞩目的公告，例如监管声明，ETF发射或有影响力的人物的推文，可能会分散对比特币表现的更深入的，数据驱动的趋势。

Instead, the blockchain itself provides transparent insights into actual investor behavior, offering a clearer view of market conditions. The analyst noted:

取而代之的是，区块链本身为实际投资者行为提供了透明的见解，从而更清晰地看待市场条件。分析师指出：

The truth lies within the data itself. The blockchain speaks clearly and transparently, and it is through this data that we can understand bitcoin’s true movement. S.N architected Bitcoin to ensure that the financial information we need is open and accessible to all, so we can make informed decisions, not be misled by the stupidity of popular narratives. Let the data guide us, not the whims of outsiders who misunderstand what is truly happening.

真相在于数据本身。区块链的说话清晰，透明地说，通过这些数据，我们可以理解比特币的真实运动。 SN构建比特币，以确保我们需要的财务信息是所有人开放和访问的，因此我们可以做出明智的决定，而不是被流行叙事的愚蠢误导。让数据指导我们，而不是误解真正发生的事情的外来者的异想天开。