比特币(BTC)最新价格上涨引发获利了结，其每日实现收益约为20亿美元

随着比特币价格上涨至接近 100,000 美元的历史高位，获利回吐增加

Bitcoin (BTC) price enjoyed a recent rally that saw almost $2 billion in daily realized gains, indicating a large number of investors quickly profited from the price increase. However, a deeper analysis of the data reveals a clear separation between the long-term and short-term holders of Bitcoin.

比特币 (BTC) 价格近期上涨，每日实现收益近 20 亿美元，这表明大量投资者迅速从价格上涨中获利。然而，对数据的更深入分析表明，比特币的长期持有者和短期持有者之间存在明显的区别。

As Bitcoin’s price surged to within reach of its record high of $100,000, increased profit-taking was observed among shorter-term investors, particularly those who acquired coins within the past year.

随着比特币价格飙升至 10 万美元的历史高点，短期投资者（尤其是那些在过去一年内购买比特币的投资者）获利回吐有所增加。

According to data from blockchain analytics firm Glassnode in “The Week Onchain,” $443 million in profits were realized across the Bitcoin holder spectrum on Nov. 22. However, these figures suggest a clear presence of selling pressure, and the realized profits paint a clearer picture of the market situation.

根据区块链分析公司 Glassnode 在《The Week Onchain》中的数据，11 月 22 日，比特币持有者实现了 4.43 亿美元的利润。然而，这些数字表明存在明显的抛售压力，并且实现的利润描绘了更清晰的情况。市场状况的图景。

Among realized profits, coins with a holding period of 6-12 months contributed to 35.3% of the total sell activity, highlighting that newer market participants were dominant in selling.

在已实现利润中，持有期为6-12个月的币种占总抛售量的35.3%，凸显了新市场参与者在抛售中占据主导地位。

‘Diamond Hands’ Display Fortitude

“钻石手”展现坚韧

In contrast to the shorter-term investors, the ‘long term holders,’ more popularly termed the ‘diamond hands,’ displayed a measured approach during this particular run-up.

与短期投资者相比，“长期持有者”（更通俗地称为“钻石手”）在这次特殊的上涨过程中表现出了谨慎的态度。

In its latest report, Glassnode highlighted that these former holders remained largely patient with their coins, implying an anticipation of even higher Bitcoin price.

Glassnode 在其最新报告中强调，这些前持有者对他们的代币基本上仍然保持耐心，这意味着他们预计比特币价格会更高。

“More seasoned investors remain steadfast, refraining from selling en masse,” the report noted. This sentiment was evident in a sharp divergence between short-term and long-term holder activity.

报告指出，“经验丰富的投资者仍然坚定不移，不会集体抛售。”这种情绪在短期和长期持有者活动之间的巨大差异中表现得很明显。

Coins held for over a year saw relatively minimal profit-taking compared to those acquired more recently, particularly in the wake of the U.S. spot Bitcoin ETF approvals.

与最近购买的硬币相比，持有一年多的硬币的获利回吐相对较小，特别是在美国现货比特币 ETF 获得批准之后。

The introduction of U.S. spot Bitcoin ETFs played a pivotal role in attracting new market participants. However, these funds also showed significant sensitivity to Bitcoin price fluctuations.

美国现货比特币ETF的推出在吸引新市场参与者方面发挥了关键作用。然而，这些基金也对比特币价格波动表现出极大的敏感性。

Over just two trading days, ETFs recorded net outflows exceeding $550 million, according to Farside Investors, coinciding with BTC/USD falling from $99,000 to $90,800.

据 Farside Investors 称，在短短两个交易日内，ETF 的净流出超过 5.5 亿美元，与此同时 BTC/美元从 99,000 美元跌至 90,800 美元。

Institutional investors, including those behind ETFs, appeared to be more reactive to short-term price movements than traditional long-term Bitcoin proponents.

机构投资者，包括 ETF 背后的投资者，似乎比传统的长期比特币支持者对短期价格变动更加敏感。

This volatility was reflected in the performance of MicroStrategy, the company with the largest corporate Bitcoin holdings. After peaking on Nov. 21, its stock dropped 35% in a record four-day losing streak, even as it continued to expand its Bitcoin reserves.

这种波动性反映在 MicroStrategy 的业绩上，该公司拥有最大的企业比特币持有量。在 11 月 21 日达到顶峰后，尽管该公司继续扩大比特币储备，但其股价仍下跌 35%，创下创纪录的四连跌。

A Split Market Narrative for Bitcoin Price

比特币价格的分裂市场叙述

The current market scenario seemed to weave a tale of two Bitcoin cohorts: one swiftly realizing profits and the other biding their time for potentially higher prices.

当前的市场情况似乎编织了两个比特币群体的故事：一个迅速实现利润，另一个则等待潜在更高价格的时机。

While newer market participants seized the opportunity to lock in gains, the restraint displayed by long-term holders underscored their confidence in Bitcoin’s long-term value.

虽然新的市场参与者抓住了锁定收益的机会，但长期持有者表现出的克制凸显了他们对比特币长期价值的信心。

As Glassnode observed,

正如 Glassnode 观察到的那样，

“The dominance of coins aged 6 months to 1 year highlights that the majority of spending originates from newer entrants to the market.”

“6 个月至 1 年的代币占据主导地位，这凸显出大部分支出来自市场新进入者。”

Meanwhile, seasoned Bitcoin veterans continued to play the long game, solidifying their reputation as the cornerstone of market stability.

与此同时，经验丰富的比特币资深人士继续进行长期游戏，巩固了他们作为市场稳定基石的声誉。

Bitcoin’s near-record price action had a way of reigniting conversations around profit-taking strategies and market resilience.

比特币接近创纪录的价格走势在某种程度上重新引发了围绕获利回吐策略和市场弹性的讨论。

Whether this rally served as a precursor to even greater heights or a signal for caution, one thing remained clear: Bitcoin price continued to captivate both seasoned investors and fresh entrants.

无论这次反弹是达到更高高度的前兆还是需要谨慎的信号，有一点仍然很明确：比特币价格继续吸引着经验丰富的投资者和新进入者。