比特币（BTC）面临市场下滑，因为新地址见证了急剧下降

随着一般加密市场的表现，比特币（BTC）的市场动态和情感正在转向负面的一面

Bitcoin (BTC) price action has been trending in the red for the past few weeks, leading to a shift in market dynamics and sentiment. As BTC’s price movements are hindered by bearish market conditions, several technical aspects are revealing insights into the asset’s performance.

在过去的几周中，比特币（BTC）的价格行动一直在红色中流行，导致市场动态和情感发生了变化。由于看跌市场条件阻碍了BTC的价格变动，因此一些技术方面揭示了对资产业绩的见解。

One key observation is a significant drop in new Bitcoin addresses, which has slowed down the network growth. This slowdown in adoption raises concerns about BTC’s ability to attract fresh capital and maintain broader adoption in the short term.

一个关键的观察结果是新的比特币地址大幅下降，这减慢了网络的增长。采用的这种放缓引起了人们对BTC吸引新资本并在短期内保持更广泛采用的能力的担忧。

According to Ali Martinez, a veteran technical expert and investor, the monthly average of new Bitcoin addresses has fallen below the annual average, indicating a drop in on-chain activity. He adds that this trend is typically linked to a reduction in network utilization and weaker network fundamentals.

根据资深技术专家和投资者阿里·马丁内斯（Ali Martinez）的说法，新的比特币地址的平均每月平均水平低于年平均水平，这表明链上活动的下降。他补充说，这种趋势通常与网络利用率的降低和网络基本面较弱有关。

Other factors that could be contributing to the drop are fluctuating market conditions and investors’ waning confidence in BTC’s future performance, as seen among short-term holders. Short-term BTC holders appear to have sold some of their holdings due to the lackluster price movements.

可能导致下降的其他因素是市场状况的波动和投资者对BTC未来绩效的信心，如短期持有人所见。由于价格不足，短期BTC持有人似乎已经出售了一些持股。

On-chain and technical analyst Darkfost reported that short-term holders realized significant losses in a single day. The discovery was made after investigating the Bitcoin Short-Term Holder P&L to Exchanges in the 1-day time frame.

链上和技术分析师DarkFost报告说，短期持有人在一天内意识到巨大的损失。这一发现是在研究比特币短期持有人损益者损益表以在为期1天的时间范围内进行交换后做出的。

With these holders seeing substantial losses, this implies that many coins bought in the past few months are being sold at a loss. These short-term investors continue to feel the pressure of Bitcoin’s bearish trend, leading to panic selling.

由于这些持有人看到了巨大的损失，这意味着过去几个月购买的许多硬币正在亏本出售。这些短期投资者继续感受到比特币看跌趋势的压力，导致恐慌销售。

Darkfost adds that these investors may have panic-sold some of their coins in response to the recent news about the Bybit hack during the weekend, which sent shockwaves in the entire crypto sector. However, he claims that capitulation events in the short term have usually signaled a local bottom.

DarkFost补充说，这些投资者可能会在周末对最近有关Bybit Hack的新闻进行恐慌销售的硬币，后者在整个加密货币领域都引发了冲击波。但是，他声称短期内的投降事件通常标志着局部底部。

Another observation is a decline in accumulation by small Bitcoin addresses, which are typically defined as those holding less than 1 BTC. Macro researcher Axel Adler Jr. pointed out that small investors, or "shrimp" addresses, are not accumulating.

另一个观察结果是小比特币地址的积累下降，通常定义为持有小于1 BTC的人。宏观研究员Axel Adler Jr.指出，小型投资者或“虾”地址没有积累。

This decrease reflects a noticeable shift in retail investor sentiment and behavior as they are being cautious about Bitcoin. Typically, retail investors accumulate coins during bull markets, but this is not the case right now.

这种减少反映了零售投资者情绪和行为的明显转变，因为它们对比特币谨慎。通常，散户投资者在牛市期间积累了硬币，但事实并非如此。

In essence, this signals fading interest and confidence among these investors. Also, It implies that big or long-term BTC investors are driving the recent moves in the market.

从本质上讲，这表明这些投资者之间的兴趣和信心消失了。此外，这意味着大或长期的BTC投资者正在推动市场上最近的举动。