随着鲸鱼的积累，比特币（BTC）价格面临波动，散户参与仍然不平衡

比特币价格最近开始大幅回升，今天早些时候重回 66000 美元大关。价格表现的突然积极性

Bitcoin price recently began a major recovery, reclaiming the $66,000 mark earlier today. This sudden positivity in price performance has sparked debates on whether retail investors and newcomers have returned to the market.

比特币价格最近开始大幅复苏，今天早些时候重回 66,000 美元大关。价格表现的突然积极性引发了关于散户投资者和新投资者是否已重返市场的争论。

While there has been speculation so far about increased retail participation, a detailed analysis reveals a more nuanced picture.

尽管迄今为止一直有人猜测零售参与度会增加，但详细的分析揭示了更微妙的情况。

Bitcoin Price Braces For Volatility Ahead Of Chinese Stimulus Speculations, Options Expiry

在中国的刺激猜测和期权到期之前，比特币价格将面临波动

A Closer Look At Retail Participation

仔细观察零售参与

According to a CryptoQuant analyst, BinhDang, in a recent post on the CryptoQuant QuickTake platform, the trends among smaller retail groups show growth and stagnation in different areas, reflecting a complicated dynamic in the current market cycle.

CryptoQuant 分析师 BinhDang 在 CryptoQuant QuickTake 平台上最近发表的一篇文章中表示，小型零售集团的趋势在不同领域表现出增长和停滞，反映了当前市场周期的复杂动态。

In the post titled “1 Year Change – From Plankton to Fish Addresses,” BinhDang broke down Bitcoin wallet activity into several categories of retail investors, including plankton (addresses holding more than 0 but less than or equal to 0.1 BTC), shrimp (holding more than 0.1 but less than 1 BTC), and fish (holding between 10 and 100 BTC).

在题为“一年的变化——从浮游生物到鱼类地址”的帖子中，BinhDang 将比特币钱包活动分为几类散户投资者，包括浮游生物（持有超过 0 但小于或等于 0.1 BTC 的地址）、虾（持有超过 0.1 但少于 1 BTC）和鱼（持有 10 到 100 BTC）。

These smaller groups were analyzed because they better represent retail investors than larger wallet categories like whales or humpbacks, which tend to be dominated by institutional players or exchanges.

对这些较小的群体进行分析是因为它们比鲸鱼或座头鲸等较大的钱包类别更能代表散户投资者，而鲸鱼或座头鲸往往由机构参与者或交易所主导。

One of the key observations made by BinhDang is that the growth in retail addresses is uneven, particularly among the smallest investors. The plankton addresses, representing individuals holding tiny amounts of Bitcoin, have shown almost negligible growth from 2023 to the present day.

BinhDang 的主要观察之一是零售地址的增长不平衡，尤其是在最小的投资者中。浮游生物地址代表持有少量比特币的个人，从 2023 年到现在的增长几乎可以忽略不计。

This starkly contrasts previous cycles, where significant price increases were accompanied by a sharp rise in the number of retail investors holding small amounts of Bitcoin.

这与之前的周期形成鲜明对比，在之前的周期中，价格大幅上涨，同时持有少量比特币的散户投资者数量也急剧增加。

The analyst explained that this slower growth could reflect broader economic conditions, including the global decline in monetary flows over the past few years, which may have discouraged new entrants from investing in Bitcoin.

这位分析师解释说，这种增长放缓可能反映了更广泛的经济状况，包括过去几年全球货币流动的下降，这可能阻碍了新进入者投资比特币。

Potential For Future FOMO In Bitcoin’s Bull Cycle

比特币牛市周期中未来 FOMO 的可能性

The uneven growth in retail addresses points to a cautious return of retail investors to the Bitcoin market. However, there are still positive signs that the current cycle has room to expand.

散户地址增长的不均衡表明散户投资者对比特币市场的回归持谨慎态度。不过，仍有积极迹象表明当前周期仍有扩张空间。

BinhDang highlighted the trend of retail investors, particularly those in the “fish” category (holding between 10 and 100 BTC), who have continued accumulating Bitcoin, suggesting that while smaller investors may be hesitant, more seasoned participants are preparing for the next phase of the bull cycle.

BinhDang 强调了散户投资者的趋势，特别是“鱼”类别（持有 10 至 100 BTC）的散户投资者，他们持续积累比特币，这表明虽然规模较小的投资者可能会犹豫不决，但经验丰富的参与者正在为下一阶段的投资做准备。牛市周期。

The data indicates that while retail participation is not as strong as in previous cycles, there remains the potential for a final wave of FOMO (Fear of Missing Out) that could drive Bitcoin to new heights.

数据表明，虽然零售参与度不如之前的周期那么强劲，但仍有可能出现最后一波 FOMO（害怕错过），这可能将比特币推向新的高度。

The analyst particularly wrote in the post:

这位分析师在帖子中特别写道：

So, the data suggests that future FOMO waves are still possible in this cycle. […] Based on these observations, I conclude there is still a basis to look forward to a final wave in this cycle.

因此，数据表明，未来的 FOMO 浪潮在这个周期中仍有可能出现。 [……]基于这些观察，我得出的结论是，仍有基础期待本周期的最后一波。

Featured image created with DALL-E, Chart from TradingView

使用 DALL-E 创建的特色图片，来自 TradingView 的图表