随着 LTH 将持股分配给 STH，比特币 (BTC) 市场周期可能会发生变化

比特币的历史数据显示了类似于 2017 年事件的重复模式，标志着比特币市场周期的关键阶段。

The recent historical data for Bitcoin price action seems to be indicating a repeating pattern, not unlike the events of 2017, which marked a pivotal phase in Bitcoin’s market cycle.

比特币价格走势的最新历史数据似乎表明了一种重复模式，与 2017 年的事件不同，2017 年标志着比特币市场周期的关键阶段。

After Phase 1, where Long-Term Holders (LTHs) were accumulating, they began distributing their holdings, transitioning into what could be the next critical phase.

在第一阶段之后，长期持有者（LTH）开始积累，他们开始分配所持股份，过渡到下一个关键阶段。

This shift was evidenced by the increase in Short-Term Holder (STH) supply. This indicates a significant influx of new capital into the market.

短期持有者（STH）供应的增加证明了这种转变。这表明新资本大量涌入市场。

CryptoQuant analyst predicted possible breakout as in the previous cycles, suggesting possible preparations for another significant upward trend.

CryptoQuant 分析师预测可能会像之前的周期一样出现突破，这表明可能为另一个显着的上升趋势做好准备。

The surge in the Binary CDD and the pattern of breakouts around these surges supported the hypothesis that we are moving towards a period of heightened activity and price increases.

二元 CDD 的激增以及围绕这些激增的突破模式支持了这样的假设：我们正在走向一个活动加剧和价格上涨的时期。

Additionally, a chart of STH and LTH supply percentages revealed that similar supply dynamics have previously catalyzed major bull runs. The increase in STH supply and the corresponding decline in LTH supply often preluded aggressive market phases.

此外，STH 和 LTH 供应百分比图表显示，类似的供应动态此前曾催化过主要牛市。 STH 供应量的增加和 LTH 供应量的相应下降往往预示着激进的市场阶段。

If this cycle follows the precedent set in 2017, Bitcoin could experience a substantial upsurge, propelled by fresh investments and growing market liquidity, entering what is anticipated as Phase 2 of its economic cycle.

如果这个周期遵循 2017 年设定的先例，在新投资和市场流动性增长的推动下，比特币可能会经历大幅上涨，进入预期的经济周期第二阶段。

Accumulation Gaining Momentum

吸筹势头增强

Further analysis shows that the recent surge in inflows to Bitcoin accumulation addresses signified a substantial shift of over 57,800 BTC valued around $4.16 Billion. This marked a crucial precondition for advancing into the next market phase, termed “Phase 2.”

进一步分析显示，最近比特币累积地址的流入量激增，意味着超过 57,800 个 BTC 的大幅转移，价值约 41.6 亿美元。这标志着进入下一个市场阶段（称为“第二阶段”）的关键先决条件。

These inflows, highlighted by the sharp rise in the inflow graph, underscore a robust accumulation activity. Notably, this is contrary to movement observed during earlier days.

这些流入（以流入图的急剧上升为突出）凸显了强劲的积累活动。值得注意的是，这与早些时候观察到的运动相反。

This pattern, often preceding a bullish trend, indicated that substantial capital has begun to stabilize within secure wallets. This suggests strong investor confidence and a strategic positioning for potential price appreciation.

这种模式通常先于看涨趋势，表明大量资本已开始在安全钱包内稳定下来。这表明投资者信心强劲，并为潜在的价格升值做好了战略定位。

The graph clearly delineated this with an ascending trajectory in the price line along with the inflow spikes. This affirms that significant liquidity has been redirected towards accumulation addresses.

该图清楚地描绘了价格线的上升轨迹以及流入峰值。这证实大量流动性已被重定向至累积地址。

As these addresses typically represented informed investors betting on future price increases, this movement could catalyze a new rally.

由于这些地址通常代表了押注未来价格上涨的知情投资者，因此这一走势可能会催化新的反弹。

Given the alignment with past precursors to bullish phases, it is likely that this concentrated buying activity will underpin further upward price movements in Bitcoin.

鉴于与过去看涨阶段前兆的一致，这种集中的购买活动很可能将支撑比特币价格进一步上涨。

This means potential replication of scenarios similar to previous cycles where large accumulations led to significant market upswings.

这意味着可能会出现类似于之前周期的情况，即大量积累导致市场大幅上涨。

The Realized Cap Signals an Uptrend For Bitcoin

已实现的上限标志着比特币的上升趋势

Over the past month, the Bitcoin Realized Cap increased by 3.8%, reaching an all-time high of $656 Billion. This indicates substantial capital inflows totaling $2.5 Billion.

过去一个月，比特币实现上限增长了 3.8%，达到 6560 亿美元的历史新高。这表明总计 25 亿美元的大量资本流入。

This significant rise reflects a robust accumulation trend, similar to the level of activity last seen in January 2023. The increased Realized Cap suggested that Bitcoin’s market valuation, based on the price at which each coin last moved, has markedly expanded.

这一显着上涨反映了强劲的积累趋势，类似于 2023 年 1 月的最后一次活动水平。已实现上限的增加表明，基于每种代币上次变动的价格，比特币的市场估值已显着扩大。

Such a rise often implied that holders who bought at lower prices are not yet selling, instead betting on future price increases.

这种上涨通常意味着以较低价格买入的持有者尚未卖出，而是押注未来价格上涨。

This phenomenon signaled a solidification in the foundation for entering a new bullish phase —Phase 2—characterized by increased confidence and potential for higher prices.

这一现象标志着进入新的看涨阶段（第二阶段）的基础已经巩固，其特点是信心增强和价格上涨的潜力。

The fresh influx of capital could catalyze further price appreciation if this trend persists. Investors have shown the willingness to purchase and hold, indicating optimism about Bitcoin’s future trajectory.

如果这种趋势持续下去，新的资本流入可能会促进价格进一步上涨。投资者表现出了购买和持有的意愿，表明对比特币未来轨迹的乐观态度。

This behavior could support sustained upward momentum in the market, reinforcing bullish sentiments and potentially leading to further gains before correction starts.

这种行为可能会支持市场持续上涨的势头，增强看涨情绪，并可能在调整开始之前导致进一步上涨。