专家预测，比特币整合预示着即将到来的波动性激增

比特币 (BTC) 经历了一段盘整期，一周稳定在 6.9 万美元至 6.4 万美元之间。尽管其以波动性着称，但这种稳定性表明存在潜在的停滞阶段。分析师预计，如果 BTC 突破 7 万美元阻力位，Glassnode 报告供应动态发生变化，就会出现突破。休眠的比特币正在被重新激活，长期持有者（LTH）供应减少，而短期持有者（STH）供应增加。这标志着从长期持有行为向投机行为的转变，反映了比特币市场更广泛的分配和获利回吐趋势。

Bitcoin Consolidation Signals Impending Volatility Surge, Expert Analysis Indicates

专家分析表明，比特币整合预示着波动性即将飙升

Amidst a period of subdued volatility, Bitcoin (BTC) has exhibited a noteworthy consolidation, ranging between $64K and $69K over the past week. While this divergence from its typical high volatility may suggest a stagnation phase, market observers and crypto enthusiasts remain optimistic, anticipating a potential breakout.

在波动性较小的时期，比特币 (BTC) 出现了值得注意的盘整，过去一周的价格区间在 6.4 万美元至 6.9 万美元之间。虽然这种与典型高波动性的背离可能表明进入了停滞阶段，但市场观察者和加密货币爱好者仍然保持乐观，预计可能会出现突破。

Captain Faibik, a prominent figure in the crypto space, believes that Bitcoin is poised for a breakout if it can surpass the $70K resistance level. This outlook aligns with the broader expectation of heightened volatility, which could reshape the current market dynamics.

加密货币领域的知名人物 Captain Faibik 认为，如果比特币能够突破 7 万美元的阻力位，它就有望突破。这一前景符合波动性加剧的更广泛预期，这可能会重塑当前的市场动态。

In-depth analysis from a recent Glassnode report provides further insights into this trend, highlighting a pivotal shift in the Bitcoin supply dynamic. The report reveals the reactivation of dormant Bitcoin supply after a period of remarkable stability, offering key insights into the cryptocurrency's market behavior.

Glassnode 最近的一份报告的深入分析提供了对这一趋势的进一步见解，突显了比特币供应动态的关键转变。该报告揭示了经过一段时期的显着稳定后，休眠的比特币供应重新激活，为加密货币的市场行为提供了重要见解。

The gap between Long-Term Holder (LTH) supply and Short-Term Holder (STH) supply is narrowing, a phenomenon typically observed during price ascensions when unrealized gains entice LTHs to sell. Since December 2023, LTH supply has significantly decreased by 900,000 BTC from its peak of 14.91 million BTC. Notably, outflows from the GBTC trust account account for approximately one-third of this reduction, equating to roughly 286,000 BTC.

长期持有者 (LTH) 供应和短期持有者 (STH) 供应之间的差距正在缩小，这是在价格上涨期间未实现的收益吸引 LTH 出售时常见的现象。自 2023 年 12 月以来，LTH 供应量已较峰值 1491 万 BTC 大幅减少 90 万 BTC。值得注意的是，GBTC 信托账户的流出约占此次减少的三分之一，相当于约 286,000 BTC。

Concurrently, STH supply has surged by 1.121 million BTC, absorbing the distributed LTH supply and adding an additional 121,000 BTC from secondary market acquisitions through exchanges. This shift from long-term holding to more speculative behavior suggests a changing landscape within the Bitcoin ecosystem.

与此同时，STH 供应量激增 112.1 万 BTC，吸收了分布式 LTH 供应量，并通过交易所从二级市场收购中额外增加了 12.1 万 BTC。这种从长期持有到更具投机行为的转变表明比特币生态系统内的格局正在发生变化。

The report's analysis of the ratio between LTH and STH supplies further corroborates this transition, signaling a broader trend towards distribution, profit-taking, and speculation during macro up-trends.

该报告对 LTH 和 STH 供应之间比率的分析进一步证实了这一转变，表明宏观上涨趋势期间出现了更广泛的分配、获利回吐和投机趋势。

"This shift in supply dynamics is a clear indication that the market is transitioning from a long-term accumulation phase to a more speculative phase," said Captain Faibik. "As we approach key resistance levels, we anticipate increased volatility and the potential for a breakout."

“供应动态的这种转变清楚地表明，市场正在从长期积累阶段转向更具投机性的阶段，”费比克船长说。 “当我们接近关键阻力位时，我们预计波动性将会增加，并且有可能突破。”

Market participants should closely monitor the situation and be prepared for heightened price fluctuations in the near future. The combination of market consolidation, expert analysis, and on-chain data suggests that a significant turning point may be imminent for Bitcoin.

市场参与者应密切关注事态发展，并为近期价格波动加剧做好准备。市场整合、专家分析和链上数据的结合表明，比特币可能即将迎来一个重大转折点。