比特币减半后的繁荣：看涨指标表明价格升值

比特币第四次减半后的市场动态仍然乐观，投资者预期价格上涨，矿商有效调整策略。长期持有者的抛售已被新进入者吸收，而矿商则进行了早期抛售和先发制人的抛售以升级基础设施，从而可能避免市场冲击。比特币 ETF 的需求不断增长可能会进一步推高价格，因为减半带来的供应受限与 ETF 的高需求相结合。

Bitcoin's Post-Halving Landscape: A Positive Outlook

比特币减半后的前景：积极的前景

The crypto market is currently abuzz with anticipation and optimism as Bitcoin (BTC) navigates the aftermath of its fourth halving event. Key market indicators suggest that investors are bullish about the future of Bitcoin, with miners strategically adjusting their operations to adapt to the changing dynamics.

随着比特币（BTC）经历第四次减半事件的余波，加密市场目前充满了预期和乐观情绪。关键市场指标表明，投资者看好比特币的未来，矿商战略性地调整其运营以适应不断变化的动态。

Long-Term Holders Unfazed by Pre-Halving Drop

长期持有者并未受到减半前跌幅的影响

Traditionally, Bitcoin's halving events have been preceded by a decline in selling pressure from long-term holders. However, this time around, these holders have remained relatively unmoved, suggesting that new market entrants are actively absorbing any selling pressure. The Bitfinex Alpha report highlights this trend, indicating that the market is well-positioned to weather any potential selling pressure.

传统上，比特币减半事件发生之前，长期持有者的抛售压力会下降。然而，这一次，这些持有者相对不为所动，这表明新的市场进入者正在积极吸收任何抛售压力。 Bitfinex Alpha 报告强调了这一趋势，表明市场处于有利地位，可以承受任何潜在的抛售压力。

Miners Adapt to Reduced Supply

矿工适应供应减少

The halving has significantly reduced Bitcoin's daily supply, fueling expectations of future price appreciation. Analysts predict a further decline in daily supply to around $30 million, including active and dormant supply as well as miner selling. Smaller mining operations, particularly those struggling with profitability, are likely to shut down.

减半大大减少了比特币的每日供应量，加剧了未来价格上涨的预期。分析师预测每日供应量将进一步下降至 3000 万美元左右，其中包括活跃和休眠供应以及矿商抛售。较小的采矿作业，特别是那些盈利能力不佳的作业，可能会关闭。

To cope with the reduction in block rewards, miners are refining their operating strategies. Previously, miners have engaged in aggressive selling to maximize profits before anticipated earnings declines. However, this halving has seen miners execute pre-emptive selling, offloading their reserves ahead of the event. This strategic move has prevented a market shock and spread out potential selling pressure over a more extended period.

为了应对区块奖励的减少，矿工们正在完善他们的运营策略。此前，矿商曾积极抛售，以在预期收益下降之前实现利润最大化。然而，在这次减半事件中，矿商们进行了先发制人的抛售，在减半之前抛售了他们的储备。这一战略举措防止了市场冲击，并在更长的时间内分散了潜在的抛售压力。

ETF Demand to Fuel BTC Surge

ETF 需求推动 BTC 飙升

Bitfinex analysts have also identified a crucial factor that could mitigate the impact of new BTC issuance on market prices: the growing demand for Bitcoin exchange-traded funds (ETFs). Spot Bitcoin ETFs are expected to play a pivotal role in managing market volatility, enabling large inflows and outflows.

Bitfinex 分析师还发现了一个可以减轻新 BTC 发行对市场价格影响的关键因素：对比特币交易所交易基金 (ETF) 的需求不断增长。现货比特币 ETF 预计将在管理市场波动、实现大量资金流入和流出方面发挥关键作用。

The convergence of constrained supply from the halving and robust ETF demand could propel BTC's price upwards. As ETFs provide institutional investors and retail traders alike with accessible entry into the Bitcoin market, they are likely to drive increased demand and contribute to a more stable price environment.

减半导致的供应受限和 ETF 需求强劲可能会推动 BTC 价格上涨。由于 ETF 为机构投资者和零售交易者等提供了进入比特币市场的便利，它们可能会推动需求增加，并有助于建立更稳定的价格环境。

Conclusion

结论

The market dynamics surrounding Bitcoin's post-halving era are highly favorable, indicating optimism among investors and strategic adjustments by miners. Long-term holders' unwavering presence, miners' proactive selling strategies, and the growing popularity of Bitcoin ETFs all point towards a positive outlook for the cryptocurrency. The halving event has not only reduced Bitcoin's supply but has also paved the way for the market to absorb selling pressure more efficiently. As the crypto market continues to evolve and mature, Bitcoin's post-halving trajectory holds immense promise for investors and enthusiasts alike.

比特币减半后的市场动态非常有利，表明投资者的乐观情绪和矿商的战略调整。长期持有者坚定不移的存在、矿商积极的抛售策略以及比特币 ETF 的日益普及，都表明了加密货币的积极前景。减半事件不仅减少了比特币的供应量，还为市场更有效地吸收抛售压力铺平了道路。随着加密货币市场的不断发展和成熟，比特币减半后的轨迹为投资者和爱好者带来了巨大的希望。