由于链上因素仍然积极，比特币（BTC）价格面临潜在的大幅上涨

鲸鱼和机构投资者已重新配置资产，以支持 2025 年之前的艰难发展。

Bitcoin (BTC) price action is setting up for a potentially massive rally next year as several on-chain factors remain bullish despite the recent crypto market downturn. Notably, the year saw record outflows from centralized exchanges.]

尽管最近加密货币市场低迷，但一些链上因素仍然看涨，比特币（BTC）的价格走势有望在明年出现大幅上涨。值得注意的是，今年中心化交易所的资金流出创历史新高。]

Bitcoin Reserves Plunge To 2.4 Million BTC

比特币储备暴跌至 240 万比特币

Fresh on-chain data reveals a declining Bitcoin reserves on centralized cryptocurrency exchanges, hinting at a higher price action.

最新的链上数据显示，中心化加密货币交易所的比特币储备正在下降，暗示价格走势将会上涨。

This year, exchange reserves on centralized exchanges dropped to 2.4 million from 3 million in January. The approval of spot Bitcoin ETFs in January led to the declining numbers.

今年，中心化交易所的外汇储备从1月份的300万下降至240万。一月份现货比特币 ETF 的批准导致数量下降。

After the approvals, the BTC price rose to new highs above $7k. Most whales withdrew assets from exchanges as funds trickled into the ecosystem.

批准后，BTC 价格升至 7000 美元以上的新高。随着资金流入生态系统，大多数鲸鱼从交易所撤回资产。

Outflows from exchanges indicate an increased price action as whales are considering long-term holdings. In contrast, inflow to these platforms leads to sell pressure because of the popular sentiment associated with the transfers.

交易所的资金流出表明价格走势有所增加，因为鲸鱼正在考虑长期持有。相比之下，由于与转移相关的大众情绪，流入这些平台会导致抛售压力。

Crypto analyst KriptoBaykusv2 explained that the presence of institutional investors sparked the status quo, seeing rapid inflows as a sign of more gains.

加密货币分析师 KriptoBaykusv2 解释说，机构投资者的存在引发了现状，他们将快速资金流入视为更多收益的迹象。

Most traditional investors bought the dip and have maintained a hodl strategy. On the other hand, retail investors tend to move tokens on slight price changes, leading to BTC redistribution.

大多数传统投资者逢低买入并维持长期持有策略。另一方面，散户投资者倾向于在价格轻微变化时转移代币，从而导致比特币的重新分配。

This shift is particularly evident among institutional investors, who have increasingly embraced the “hodl” approach, demonstrating strong confidence in Bitcoin’s future potential. As reserves dwindled, Bitcoin’s price experienced a remarkable surge. Starting the year around $40K, the price accelerated in November, surpassing the $100K milestone and setting a new peak at $104K.

这种转变在机构投资者中尤为明显，他们越来越多地接受“hodl”方式，这表明他们对比特币的未来潜力充满信心。随着储备减少，比特币的价格经历了显着的飙升。年初价格约为 4 万美元，11 月份价格加速上涨，突破了 10 万美元里程碑，并创下 10.4 万美元的新高。

Moreover, as exchange balances drop, Bitcoin miner reserves spiked following the price surge. The last bear market saw miners sell reserves to stay afloat. High prices result in a hodl strategy to maximize gains.

此外，随着交易所余额下降，比特币矿商的储备随着价格飙升而飙升。上一次熊市中，矿商出售储备以维持生计。高价格导致持有策略以最大化收益。

Bitcoin Bulls Anticipate Massive Price Upticks

比特币多头预计价格大幅上涨

Several crypto experts are projecting a massive Bitcoin price surge next year. The transfer of assets to other custodians shows a supply shock, which could be the catalyst for the needed price action.

几位加密货币专家预计明年比特币价格将大幅上涨。将资产转移给其他托管人显示出供应冲击，这可能是所需价格行动的催化剂。

Several whales have also ramped up accumulations as top crypto firms release their 2025 market outlook. In a new release, Bitfinex analysts noted that the market is positioned to see a price upswing, hitting $200K due to institutional activities.

随着顶级加密货币公司发布 2025 年市场前景，一些鲸鱼也加大了增持力度。 Bitfinex 分析师在最新发布的报告中指出，由于机构活动，市场预计价格将上涨，达到 20 万美元。

Similar firms have projected the same price range for the asset, citing favorable United States policies, among others.

类似的公司以美国有利的政策等为理由，预计该资产的价格范围相同。