比特币 (BTC) 长期持有者因价格飙升而抛售比特币，模仿四月份的抛售

比特币的长期持有者在过去 30 天内遭受了巨大的抛售，创下了 4 月份以来的最大抛售量。这是因为比特币徘徊在 93,000 美元附近

Bitcoin [BTC] has seen a massive sell-off from long-term holders over the last 30 days, marking the largest sell-off since April. This comes as Bitcoin hovers near $93,000, sparking questions about whether these moves signal profit-taking or forewarn a potential market correction.

过去 30 天内，长期持有者大幅抛售比特币 [BTC]，这是自 4 月份以来最大规模的抛售。与此同时，比特币徘徊在 93,000 美元附近，引发了人们的疑问：这些举动是否预示着获利了结，还是预示着潜在的市场调整。

With key indicators like the Fear & Greed Index and HODL Waves showing noteworthy trends, this sell-off could have implications for Bitcoin’s near-term trajectory.

由于恐惧与贪婪指数和 HODL Waves 等关键指标显示出值得注意的趋势，这种抛售可能会对比特币的近期轨迹产生影响。

The offloading by long-term holders coincides with Bitcoin’s parabolic rise to $93,000 earlier this month, fueling speculation about the motivations behind such a massive sell-off.

长期持有者的抛售恰逢比特币本月早些时候抛物线上涨至 93,000 美元，引发了人们对如此大规模抛售背后动机的猜测。

Analysis of the Long Term Holders Net position Change chart on CryptoQuant showed that it was negative. Over 728,000 BTC has been sold in the past 30 days, marking the largest sell-off since April.

对 CryptoQuant 上的长期持有者净头寸变化图表的分析显示，该变化为负值。过去 30 天内已售出超过 728,000 枚 BTC，这是自 4 月份以来最大规模的抛售。

In April, a similar sell-off by long-term holders triggered a short-term price correction, raising questions about whether history could repeat itself. With Bitcoin still holding above $90,000, the market’s resilience is being tested.

4月份，长期持有者的类似抛售引发了短期价格调整，引发了人们对历史是否会重演的疑问。由于比特币仍维持在 90,000 美元上方，市场的弹性正在受到考验。

Another factor adding to the narrative is the Bitcoin Fear & Greed Index, which currently shows a reading of around 75, reflecting “extreme greed” in the market. Such sentiment often precedes corrections, as overconfidence among investors can lead to unsustainable price action.

另一个因素是比特币恐惧与贪婪指数，目前该指数的读数约为 75，反映了市场的“极度贪婪”。这种情绪往往先于回调，因为投资者的过度自信可能导致不可持续的价格走势。

The index, combined with the sell-off from long-term holders, suggests caution may be warranted in the short term.

该指数，加上长期持有者的抛售，表明短期内可能需要谨慎行事。

Data from Glassnode’s Realized Cap HODL Waves indicates a significant shift in Bitcoin ownership, with younger coins—those held for less than six months—making up a larger share of the market. This suggests new entrants or traders are absorbing the selling pressure from long-term holders, stabilizing Bitcoin’s price for now.

Glassnode 的已实现上限 HODL 波浪数据表明，比特币所有权发生了重大转变，较年轻的代币（持有时间少于六个月的代币）占据了更大的市场份额。这表明新进入者或交易者正在吸收长期持有者的抛售压力，目前稳定了比特币的价格。

However, the question remains whether these newer market participants will have the same conviction if volatility spikes.

然而，问题仍然是，如果波动性飙升，这些新的市场参与者是否会有同样的信念。

While Bitcoin’s recent sell-off by long-term holders is notable, it doesn’t necessarily signal a bearish trend. The market has shown resilience in holding key levels, with $90,000 acting as critical support.

尽管长期持有者近期抛售比特币的情况值得注意，但这并不一定预示着看跌趋势。市场在保持关键水平方面表现出了韧性，90,000 美元是关键支撑。

However, the confluence of extreme greed in the market and heavy profit-taking raises the risk of increased volatility.

然而，市场的极度贪婪和大量获利了结的结合增加了波动性加剧的风险。

The RSI (Relative Strength Index) for Bitcoin now stands at 61.44, reflecting that the asset is approaching overbought levels. Historically, these metrics tend to align with profit-taking behavior, especially when prices breach significant psychological thresholds.

比特币的 RSI（相对强度指数）目前为 61.44，反映出该资产已接近超买水平。从历史上看，这些指标往往与获利了结行为一致，特别是当价格突破重大心理阈值时。

As Bitcoin edges closer to $100,000—a psychological resistance level—investors should keep a close watch on the behavior of both long-term holders and newer participants.

随着比特币逼近 10 万美元（心理阻力位），投资者应密切关注长期持有者和新参与者的行为。

Whether this is a mere consolidation phase or a prelude to a correction remains to be seen. For now, the Bitcoin market is walking a fine line between bullish momentum and cautious retracement.

这只是一个盘整阶段还是调整的前奏还有待观察。目前，比特币市场正在看涨势头和谨慎回撤之间徘徊。