由于链上指标表明供应紧张，比特币多头目标为 100,000 美元阻力位

比特币多头再次瞄准 100,000 美元的关键阻力位，加密货币反弹至 97,290 美元。最近的上升势头是在经历了动荡的一周之后出现的

Bitcoin price analysis reveals a bullish outlook as the cryptocurrency approaches the crucial $100,000 resistance level. A confluence of factors, including increased institutional participation, is bolstering market sentiment.

随着加密货币接近 10 万美元的关键阻力位，比特币价格分析揭示了看涨前景。包括机构参与度增加在内的多种因素正在提振市场情绪。

In addition to these drivers, on-chain metrics such as the Miner Net Position, HODL Waves, and net exchange flows provide further insight into Bitcoin's current trajectory as it enters December.

除了这些驱动因素之外，矿工净头寸、HODL Waves 和净交易流量等链上指标还可以进一步洞察比特币进入 12 月后的当前轨迹。

Bitcoin’s on-chain metrics present a bullish picture as the cryptocurrency closes in on the critical $100,000 resistance. Commencing the analysis, the Miner Net Position metric showcases a consistent reduction in selling pressure by miners, which is indicated by the declining red bars on the chart.

随着加密货币逼近 10 万美元的关键阻力位，比特币的链上指标呈现出看涨的景象。从分析开始，矿工净头寸指标显示矿工的抛售压力持续减少，这由图表上不断下降的红色条表示。

This shift in behavior suggests that miners, who have historically been a major selling force, are now opting to hold onto their reserves in anticipation of higher future prices.

这种行为的转变表明，历史上一直是主要抛售力量的矿商现在选择保留其储备，以预期未来价格上涨。

Furthermore, the sustained rise in selling pressure coincides with Bitcoin's recovery from a dip around $92,000, highlighting a supportive environment for the bulls.

此外，抛售压力的持续上升与比特币从 92,000 美元左右的跌势中复苏同时发生，凸显了多头的支持环境。

Delving deeper into the on-chain analysis, the HODL Waves provide a visual representation of the duration for which different cohorts of Bitcoin holders have maintained their assets.

通过深入研究链上分析，HODL Waves 提供了不同群体的比特币持有者持有其资产的持续时间的直观表示。

In this regard, the chart reveals a growing trend of long-term accumulation, which is evident in the noticeable expansion of holding bands exceeding one year. This behavior signals strong conviction among long-term investors.

在这方面，图表揭示了长期积累的增长趋势，这一点从超过一年的持有区间明显扩大中可见一斑。这种行为标志着长期投资者的坚定信念。

Conversely, a contraction in short-term holding bands (ranging from one day to three months) showcases a decrease in speculative activity.

相反，短期持有区间（从一天到三个月）的收缩表明投机活动的减少。

This shift in holding patterns, with a focus on long-term accumulation and a reduction in short-term trading, aligns with the observed miner behavior and bodes well for sustained price increases.

这种持有模式的转变，重点是长期积累和短期交易的减少，与观察到的矿工行为一致，是价格持续上涨的好兆头。

To conclude, the netflow data provides a clear indication of investor accumulation, with a sustained trend of Bitcoin outflows from exchanges.

总而言之，净流量数据清楚地表明了投资者的积累，以及比特币从交易所流出的持续趋势。

When holders withdraw Bitcoin to cold wallets, they are essentially removing it from the liquid supply available for trading. This behavior contributes to the buildup of buying pressure and increases the potential for sustained price movements to the upside.

当持有者将比特币提取到冷钱包时，他们实际上是将其从可用于交易的流动性供应中移除。这种行为会加剧购买压力，并增加价格持续上涨的可能性。

Overall, the on-chain metrics paint a picture of a supply-constrained market entering December, with bullish sentiment being driven by long-term accumulation, reduced miner selling, and institutional demand.

总体而言，链上指标描绘了进入 12 月供应受限的市场景象，长期积累、矿商抛售减少和机构需求推动看涨情绪。

Should the psychological barrier of $100,000 be breached, it could pave the way for the token to reach new all-time highs in the coming weeks.

如果突破 100,000 美元的心理障碍，可能会为该代币在未来几周内创下新的历史高点铺平道路。