比特币矿工在疯狂抛售中抛售 3700 万枚比特币，但随着新买家的出现，价格上涨

比特币（BTC）矿工储备在过去一年中经历了持续下降，这是一个相当令人担忧的发展。

Bitcoin (BTC) miners’ reserves have seen a consistent decline over the past year, a development that would usually be a cause for concern. However, BTC has managed to record multiple price rallies during this period, even breaking into the $100,000 price zone.

比特币（BTC）矿商的储备在过去一年中持续下降，这一发展通常会引起人们的担忧。然而，BTC 在此期间成功记录了多次价格上涨，甚至突破了 100,000 美元的价格区域。

Now, a CryptoQuant analysis is shedding light on this divergent trend, pinpointing the driving force behind the current bullish market.

现在，CryptoQuant 分析正在揭示这种不同的趋势，指出当前牛市背后的驱动力。

Bitcoin Miners Offload 37 Million BTC in Selling Spree

比特币矿工抛售 3700 万比特币

In a Quicktake post on X, cryptoQuant analysis lead cryptoavails shares that Bitcoin miners’ holdings have been on a decline since the second half of 2023. At the beginning of the year, miners’ reserves stood at 1.808 million BTC, but this value has been decreasing steadily over the past months. As of press time, miners’ holdings are valued at 1.808 million BTC.

在 X 的 Quicktake 帖子中，cryptoQuant 分析负责人 cryptoavails 表示，自 2023 年下半年以来，比特币矿工的持有量一直在下降。年初，矿工的储备量为 180.8 万 BTC，但这一数值已过去几个月稳步下降。截至发稿，矿工持有的比特币价值为180.8万枚。

Typically, when miners’ reserves are surging, it indicates that miners are accumulating BTC, which is usually interpreted as a bullish signal. On the other hand, a fall in miners’ holdings is usually an indicator of high operational costs or profit-taking, both of which can be interpreted as selling pressure, which in turn can produce bearish sentiments.

通常，当矿工的储备激增时，表明矿工正在积累 BTC，这通常被解读为看涨信号。另一方面，矿商持仓下降通常表明运营成本较高或获利了结，这两者都可以解释为抛售压力，进而可能产生看跌情绪。

But, despite the ongoing offload by Bitcoin miners, which would indicate strong selling pressure, BTC has managed to record significant periodic price growth. At the beginning of the year, BTC was trading at around $45,000, but the premier cryptocurrency has seen multiple rallies, rising to a current value of around $103,000.

但是，尽管比特币矿商持续抛售，这表明抛售压力很大，但比特币仍成功实现了显着的周期性价格增长。今年年初，BTC 的交易价格约为 45,000 美元，但这种主要的加密货币经历了多次反弹，目前价格升至 103,000 美元左右。

This unusual behavior is explained by cryptoavails, who states that other market participants, namely retail and institutional investors, have exhibited a robust demand that is absorbing all selling pressure from the miners.

Cryptoavails 解释了这种不寻常的行为，他指出其他市场参与者，即散户和机构投资者，已经表现出强劲的需求，正在吸收来自矿商的所有抛售压力。

For instance, the Bitcoin Spot ETFs, which were introduced in January 2024, have proven to be monumental in BTC price growth. Each surge in inflows coincides with a price rally. According to data from SoSoValue, the Bitcoin Spot ETFs currently boast total net assets of $114.82 billion despite being in the market for barely over a year, which goes to show the immense institutional demand for the premier cryptocurrency.

例如，2024 年 1 月推出的比特币现货 ETF 已被证明对 BTC 价格增长具有巨大意义。每次资金流入激增都伴随着价格上涨。根据SoSoValue的数据，尽管比特币现货ETF上市仅一年多时间，但目前其净资产总额已达到1148.2亿美元，这表明机构对这种顶级加密货币的巨大需求。

Interestingly, cryptoavails also notes that a continuous decline in miners’ reserves would eventually result in reduced selling pressure, likely due to less BTC available to sell, thereby contributing to a higher potential for price gains in the future.

有趣的是，Cryptoavails 还指出，矿商储备的持续下降最终将导致抛售压力减轻，这可能是由于可出售的 BTC 减少，从而导致未来价格上涨的潜力更大。

BTC to Enter Consolidation?

BTC将进入整合期？

In other news, popular market analysis Rekt Capital has highlighted a price movement that is necessary for Bitcoin to maintain its current rally and avoid another consolidation.

在其他新闻中，流行的市场分析 Rekt Capital 强调了比特币维持当前涨势并避免再次盘整所必需的价格变动。

At press time, the premier cryptocurrency trades at $103,114 after a 2.10% increase in the past 24 hours. Meanwhile, BTC’s daily trading volume has gained by 16.95% and is valued at $65.8 billion.

截至发稿时，这一顶级加密货币的交易价格为 103,114 美元，在过去 24 小时内上涨了 2.10%。与此同时，BTC 的日交易量增长了 16.95%，价值 658 亿美元。

According to Rekt Capital, BTC needs to record a daily close above its final resistance at $106,000, followed by a retest to confirm a price break and an incoming new all-time high. However, if BTC fails to clear the specified resistance zone, the asset is expected to trade between $101,000-$106,000 in the short term, thereby forming a consolidation zone.

根据 Rekt Capital 的说法，BTC 的每日收盘价需要突破其最终阻力位 106,000 美元，然后重新测试以确认价格突破并创下新的历史高点。然而，如果比特币未能突破指定阻力区，预计该资产短期内交易价格将在 101,000 美元至 106,000 美元之间，从而形成盘整区。