比特币不活跃供应趋势表明持有行为仍然强劲

链上数据显示，尽管比特币在此期间出现了大幅增长，但大部分比特币供应量在两年多的时间里都没有发生变化。

On-chain data shows a majority of the Bitcoin supply hasn’t moved in more than two years, despite the fact that BTC has seen a significant uplift during this period.

链上数据显示，尽管比特币在此期间出现了大幅增长，但大部分比特币供应量在两年多的时间里都没有发生变化。

Bitcoin price has seen a strong recovery during the past few months, and the asset is now trading very close to the $100,000 price level. Usually, such an الكبير price surge leads to a large portion of the cryptocurrency’s supply being sold off by investors to realize their profits.

过去几个月，比特币价格强劲复苏，目前该资产的交易价格非常接近 10 万美元。通常，这种价格飙升会导致投资者出售大部分加密货币供应以实现利润。

However, new data shows that this time around, a vast majority of the BTC supply has remained inactive for more than two years now, suggesting that investors are still continuing to HODL onto their coins.

然而，新数据显示，这一次，绝大多数比特币供应在两年多的时间里一直处于不活跃状态，这表明投资者仍在继续持有他们的比特币。

Bitcoin Active Supply Trend Shows HODLing Behavior Remaining Strong

比特币活跃供应趋势显示持有行为依然强劲

In a new post on X, Glassnode co-founder Rafael has discussed about the trend in the various bands of the Bitcoin Active Supply. The “Active Supply” includes that part of the BTC circulating supply that has been involved in at least one transaction over a given timeframe.

在 X 上的一篇新帖子中，Glassnode 联合创始人 Rafael 讨论了比特币活跃供应各个频段的趋势。 “活跃供应”包括在给定时间范围内至少参与一笔交易的 BTC 流通供应部分。

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Below is the chart shared by the analyst that shows how the Bitcoin Active Supply has changed for a few different age bands over the last couple of years.

下面是分析师分享的图表，显示了过去几年中几个不同年龄段的比特币活跃供应量的变化。

From the graph, it’s visible that the age bands on the younger side like 1 month to 3 months and 3 months to 6 months have been observing growth recently, which suggests the relatively recent supply has been churning as a result of the price surge. The older bands, however, have been more or less showing a sideways movement on this indicator.

从图中可以看出，1个月至3个月、3个月至6个月等较年轻的年龄段最近一直在观察增长，这表明相对较新的供应量因价格飙升而出现波动。然而，较旧的乐队或多或少在该指标上表现出横盘运动。

The chart displays all the Active Supply bands up to the 1 year to 2 years group stacked on top of each other, to showcase what percentage of the total supply that they make up for.

该图表显示了 1 年至 2 年组内的所有活跃供应带，这些带彼此堆叠在一起，以展示它们占总供应量的百分比。

It would appear that these Active Supply bands add up to 46%, meaning that less than half of the cryptocurrency’s supply in circulation has witnessed some movement within the past couple of years.

这些活跃供应量带总计达 46%，这意味着在过去几年中，流通中的加密货币供应量中只有不到一半出现了一些变化。

The 2-year cut off currently sits in November 2022, when the last Bitcoin bear market reached a bottom. Given the trend in the Active Supply, it seems that the investors who bought during and prior to the bottom have largely decided to HODL.

目前的两年截止日期为 2022 年 11 月，即上一次比特币熊市触底时。考虑到活跃供应的趋势，在底部期间和之前买入的投资者似乎大部分决定持有。

Interestingly, this is despite the fact that the asset’s value has seen an uplift of more than 500% since then. “HODLing isn’t just a meme,” notes the Glassnode co-founder.

有趣的是，尽管自那时以来该资产的价值已经上涨了 500% 以上。 “HODLing 不仅仅是一个模因，”Glassnode 联合创始人指出。

Statistically, the longer investors hold onto their coins, the less likely they become to participate in selling, so considering that 54% of the supply hasn’t seen movement for over two years now, it’s possible a lot of these holders would only continue to sit tight in the near future.

据统计，投资者持有代币的时间越长，他们参与抛售的可能性就越小，因此考虑到 54% 的供应量已经两年多没有出现变化，这些持有者中的许多人可能只会继续持有代币。在不久的将来坐稳。

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In some other news, the Deribit exchange has observed massive Bitcoin outflows during the past day, as an analyst has pointed out in a CryptoQuant Quicktake post.

在其他一些消息中，正如一位分析师在 CryptoQuant Quicktake 帖子中指出的那样，Deribit 交易所在过去一天观察到大量比特币外流。

In total, users of the platform have transferred out a net 31,000 BTC to their self-custodial wallets with these transactions. The investors may have made these moves for accumulation purposes, which can naturally be a bullish sign for the asset’s price.

通过这些交易，该平台的用户总共将 31,000 BTC 净转入他们的自我托管钱包。投资者可能出于积累目的而采取这些举措，这自然可能是资产价格的看涨信号。

BTC Price

比特币价格

Bitcoin has now gotten very close to the $100,000 dream target as its price is currently trading around the $98,900 mark.

比特币现在已经非常接近 100,000 美元的梦想目标，目前其价格在 98,900 美元大关附近交易。