比特币（BTC USD）在2024年拉力赛期间放弃持有量后恢复积累

根据加密数据，主要比特币（BTC USD）或鲸鱼（拥有超过1,000 BTC的钱包）恢复了积累。

Major Bitcoin (BTC USD) holders, or whales (wallets with over 1,000 BTC), have resumed accumulating the cryptocurrency, according to CryptoQuant data.

根据加密数据，主要的比特币（BTC USD）持有人或鲸鱼（BTC超过1,000 BTC的钱包）恢复了加密货币的积累。

The whale supply has decreased from 5.59 million BTC to 5.30 million BTC over the past five months, which equals a reduction of around 290,000 BTC. This means that whales were distributing their holdings and perhaps taking profit during the 2024 rally.

在过去的五个月中，鲸鱼供应从559万BTC减少到530万BTC，相当于减少约290,000 BTC。这意味着鲸鱼在2024年的集会期间分配其股份，并可能获利。

However, the data has changed recently. The 30-day whale position change metric has flipped to positive territory, which means accumulation is back on.

但是，数据最近发生了变化。 30天的鲸鱼位置变化度量已转向正区域，这意味着积累重新开始。

The whale supply has started to increase as of March 2025 and it is now rising from the recent low of 5.30 million Bitcoin (BTC USD). This upward movement is shown by the blue-shaded area in the chart, and it clearly bounces after a long decline.

截至2025年3月，鲸鱼的供应已经开始增加，现在它已经从最近的530万比特币（BTC USD）上升。图表中的蓝色阴影区域显示了这种向上的运动，并且在长期下降后显然反弹。

This reversal could be related to expectations of liuiditty conditions and broader macroeconomic shifts. In the past 30 days, the cumulative whale position change became positive, indicating that large investors are gradually becoming more interested in holding BTC.

这种逆转可能与对真蒂条件的期望和更广泛的宏观经济转变有关。在过去的30天中，累积的鲸鱼位置变化变得积极，表明大型投资者逐渐对持有BTC越来越感兴趣。

Moreover, whales tend to withdraw coins from exchanges, which can alleviate sell side pressure.

此外，鲸鱼倾向于从交易所中提取硬币，这可以减轻卖方压力。

Liquidation Data Shows Key Bitcoin (BTC USD) Price Levels Around $83K and $89K

清算数据显示，关键比特币（BTC USD）的价格水平约为83,000美元和$ 89K

Meanwhile, Alphractal’s aggregated liquidation levels heatmap shows concentrated liquidation zones near $83,000 and $89,000. These are the zones where large volumes of leveraged positions could be triggered in case of a sharp price move.

同时，Alphractal的总清算水平热图显示，集中清算区接近83,000美元和89,000美元。这些区域可以在价格急剧下移动的情况下触发大量杠杆位置。

Over the past three days, the heatmap also shows a ner balance between long and short positions. Nevertheless, long positions still slightly dominate when looking at the past week.

在过去的三天中，热图还显示了长位置和短位置之间的平衡。然而，在看过去一周时，长位置仍然有些占主导地位。

Bitcoin (BTC USD) price action during this period has been contained within a tight range, but both the long and short side of the market are at risk. Many short positions could be liquidated if BTC rises toward $89,000. Long positions may be at risk if it falls toward or below $83,000.

在此期间，比特币（BTC USD）的价格行动已包含在紧密的范围内，但市场的长边和短方面都处于危险之中。如果BTC上涨至89,000美元，可以清算许多短职位。如果长位降至83,000美元，则可能会处于危险之中。

On the right side of the chart, the liquidation map shows that liuiditty is heavier above the current price. Such activity could cause upward price movements as market makers and traders try to trigger stop losses or liquidations, which may add to volatility.

在图表的右侧，清算图显示Liuiditty高于当前价格。当做市商和交易员试图触发停止损失或清算时，这种活动可能会导致价格上涨，这可能会增加波动。

Institutional Activity and Market Sentiment Support the Bullish Structure

机构活动和市场情绪支持看涨结构

Furthermore, institutional involvement continues to grow. More demand from corporate buyers comes from French firm The Blockchain Group, which recently bought 580 Bitcoin (BTC USD) for €47.3 million. This purchase may not move the market on its own, but it is part of a larger trend of institutional interest across 2024 and into 2025.

此外，机构参与不断增长。公司买家的需求更多来自法国公司The Blockchain Group，该集团最近以4730万欧元的价格购买了580比特币（BTC USD）。这次购买可能不会自行转移市场，但它是2024年和2025年的机构兴趣更大趋势的一部分。

Moreover, analysts’ commentary indicates that macroeconomic conditions could keep liuiditty on the go. “The Fed can still print,” Kyle Chassé shared on social media, indicating that monetary policy could remain loose.

此外，分析师的评论表明，宏观经济状况可能会使Liuiditty在旅途中保持不变。 “美联储仍然可以印刷，”凯尔·查萨（KyleChassé）在社交媒体上分享，这表明货币政策可能会变得松散。

Moreover, Arthur Hayes cited that April could be a turning point for market momentum, regardless of policy shifts such as new tariffs.

此外，亚瑟·海耶斯（Arthur Hayes）引用了四月可能是市场势头的转折点，无论政策转变，例如新的关税。

Retail Market Dynamics and Consumer Trends

零售市场动态和消费者趋势

Conversely, Cooling inflation in consumer goods is indicatedby a sharp drop in U.S. egg prices, which have fallen from over $8 to under $3 per dozen. This is not directly related to Bitcoin, but it can impact sentiment around purchasing power and interest in alternative assets such as BTC.

相反，消费品的冷却通货膨胀表明美国鸡蛋价格急剧下跌，这已经从8美元降至每打以下3美元以上。这与比特币没有直接关系，但它可能会影响购买力和替代资产（例如BTC）的兴趣的情感。

As liuiditty is moving away from traditional commodities and consumer goods, more capital may go towards digital assets. Crypto Rand hinted in a post on X, saying; “The eggs bull market is over… Liquidity flowing towards Bitcoin.”

随着Liuiditty远离传统商品和消费品，更多的资本可能用于数字资产。加密兰德（Crypto Rand）在X上的帖子中暗示： “鸡蛋牛市已经结束了……流动朝比特币流动。”

Markets may remain risk on if consumer inflation slows further and central banks stay in easing mode. This could be an environment that supports Bitcoin’s current trajectory as institutional and whale activity builds.

如果消费者通货膨胀进一步放慢，并且中央银行处于宽松模式，则市场可能会保持风险。随着机构和鲸鱼活动的建立，这可能是支持比特币当前轨迹的环境。