比特币（BTC）网络活动看到交易的下降，达到新的一年低点

链上数据显示，比特币（BTC）网络活动的显着下降，达到了一年的新低。每日交易已经下降

Bitcoin (BTC) network activity has reached a new one-year low, according to on-chain data. Daily transactions have dropped from an all-time high of 734,000 in September 2024 to 346,000, a 53% decline.

根据链数据，比特币（BTC）网络活动已达到一年的新低点。每日交易已从2024年9月的历史最高点734,000下降到346,000，下降了53％。

The CryptoQuant Bitcoin Network Activity Index now stands at 3,760, the lowest it has been since February 2024.

现在，加密比特币网络活动指数为3,760，是自2024年2月以来最低的。

According to the index, overall Bitcoin network activity has declined by 15% since peaking in November 2024, and its current level at 3760 is the lowest it has been in a year. Daily transactions have also more than halved, a decline that could signal a potential weakness in the cryptocurrency’s fundamentals.

根据该指数，自2024年11月达到顶峰以来，总体比特币网络活动已下降15％，目前的水平为3760是一年以来最低的。每日交易的减少了一半，这一下降可能表明加密货币的基本面潜在弱点。

Bitcoin transaction decline in detail

比特币交易详细下降

At its height, the Bitcoin network recorded over 734,000 daily transactions. However, as of today, February 5, 2025, it recorded a record low of just 346,000, an over 53% drop.

在其高峰期，比特币网络记录了每日734,000多个交易。然而，截至2025年2月5日，它的创纪录低仅为346,000，下降了53％以上。

This decline is not occurring in a vacuum. The leading cryptocurrency is feeling the effects of several macroeconomic forces, including the economic policies of U.S. President Donald Trump and the fading hype around the Runes protocol.

这种下降并不是真空中发生的。领先的加密货币正在感受到几个宏观经济力量的影响，包括美国总统唐纳德·特朗普的经济政策以及围绕符文协议的淡出炒作。

The tariffs introduced by the Trump presidency on Canada, Mexico, and China sent shockwaves throughout the global financial markets, causing stocks and cryptos to fall. BTC lost about 7.5% in a day, dropping to $91,969. Tariffs and trade restrictions often lead people to seek out asset classes that are viewed as safe and less volatile, such as the U.S. dollar. As a result, they tend to avoid more volatile assets like BTC, causing them to lose value.

特朗普总统对加拿大，墨西哥和中国提出的关税在整个全球金融市场上造成了冲击波，导致股票和加密货币下降。 BTC一天损失了约7.5％，跌至91,969美元。关税和贸易限制通常会导致人们寻找被视为安全且波动性较小的资产类别，例如美元。结果，它们倾向于避免像BTC这样的挥发性资产，从而导致它们失去价值。

The Runes protocol was introduced in April 2024, facilitating the creation and trading of fungible tokens on the Bitcoin network, which caused a spike in transactions on the network. At its peak, Rune protocol saw over 800,000 transactions daily. However, on-chain data shows this has declined to about 10,000 daily, a dramatic decline of 98%, which shows that interest in the protocol has also waned.

符文协议于2024年4月推出，促进了比特币网络上可及代币的创建和交易，这引起了网络交易的激增。在其顶峰时，符文协议每天有80万笔交易。但是，链链数据显示，每天下降约10,000，急剧下降了98％，这表明对协议的兴趣也减弱了。

Another indicator of declining Bitcoin network activity is the near-empty mempool, a backlog of unconfirmed transactions on the blockchain. According to CryptoQuant, the mempool had an average of 287,000 unconfirmed transactions at the end of 2024. However, that number is now 3,000, an alarming 99% drop.

比特币网络活动下降的另一个指标是近距离的Mempool，这是区块链未确认的交易的积压。据CryptoFuant称，Mempool在2024年底平均有287,000个未经证实的交易。但是，这一数字现在为3,000，令人震惊的99％下降。

It should also be noted that the last time the mempool was this empty was in March 2022, during the crypto winter.

还应注意的是，孟买的上一次是空的是在2022年3月在加密冬季。

Bitcoin price vs network activity: preparing for another crypto winter?

比特币价格与网络活动：为另一个加密冬季做准备吗？

BTC has been caught in a declining trend, with on-chain activities going from 11-month lows to setting the unwanted record of hitting 12-month depths.

BTC陷入了趋势下降的趋势，链上的活动从11个月的低点到创下了不需要的击中12个月深度的记录。

According to CryptoQuant, BTC is currently overvalued on the Metcalfe Valuation Bands valuation model, which estimates that the value of BTC should be between the $48,000 and $95,000 ranges. This, combined with decreased network activity similar to levels seen in the crypto winter of 2022, indicates that Bitcoin may be due for a correction.

根据CryptoQuant的说法，BTC目前在Metcalfe评估频段评估模型上被高估了，该模型估计BTC的价值应在48,000美元至95,000美元之间。这加上与2022年加密冬季中的水平相似的网络活动的降低，表明比特币可能要进行校正。

While the Trump-imposed tariffs might have hit BTC, it should also be noted that tariffs are inflationary. BTC has historically been viewed as a hedge against inflation, which could translate to more demand and value for BTC in the long run.

虽然受特朗普施加的关税可能已经达到了BTC，但还应注意，关税是通货膨胀的。从历史上看，BTC一直被视为抵制通货膨胀的对冲，从长远来看，BTC可能会更高的需求和价值。

Furthermore, given that BTC is a non-sovereign asset outside government control, investors might opt for it where there’s prolonged economic uncertainty, an area where it thrives.

此外，鉴于BTC是政府控制以外的非主管资产，投资者可能会在经济不确定性延长的情况下选择它。