比特币的飙升暗示积累不断增加

在重新积累的推动下，比特币 (BTC) 于 3 月 25 日重新站上 70,000 美元大关。需求激增导致领先的加密货币交易所 Coinbase 的 BTC 供应量降至九年来的最低点。

Is Bitcoin's Resurgence a Sign of Growing Accumulation?

比特币的复苏是积累不断增长的迹象吗？

After a brief dip below $70,000, Bitcoin (BTC) has reclaimed the milestone, buoyed by a renewed surge in accumulation. As a result, Coinbase, a major cryptocurrency exchange, has witnessed a nine-year low in BTC supply.

在短暂跌破 70,000 美元之后，比特币 (BTC) 在积累量再次激增的推动下，重新夺回了这一里程碑。结果，主要加密货币交易所 Coinbase 的 BTC 供应量创下九年来的新低。

Coinbase BTC Supply at a Nine-Year Low

Coinbase BTC 供应量创九年来新低

On March 18, BTC reserves on Coinbase hit a meager 344,856 BTC, according to data provider Glassnode. This suggests that investors are once again accumulating BTC off exchanges, a trend not seen since 2015.

根据数据提供商 Glassnode 的数据，3 月 18 日，Coinbase 上的 BTC 储备仅为 344,856 BTC。这表明投资者再次在交易所外积累 BTC，这是 2015 年以来从未出现过的趋势。

Accumulation Addresses Nearing Record Highs

累积地址接近历史新高

The total Bitcoin balance in accumulation addresses, defined as those with over 10 BTC and limited ties to exchanges or mining firms, has rebounded to over 3.2 million BTC, approaching its all-time peak.

积累地址中的比特币总余额（定义为拥有超过 10 BTC 且与交易所或矿业公司联系有限的地址）已反弹至超过 320 万 BTC，接近历史峰值。

Inflows to Accumulation Addresses Hit Record

累计地址流入量创历史新高

Adding to the accumulation trend, Bitcoin inflows to accumulation addresses reached a new all-time high of 25,300 BTC on March 22. This indicates that large investors are anticipating further upside potential after the recent price correction.

3月22日，比特币流入增持地址创下25,300 BTC的历史新高，这进一步加剧了增持趋势。这表明大投资者在近期价格调整后预计会有进一步的上涨潜力。

Exchange Reserves at Three-Year Low

外汇储备创三年新低

Overall, Bitcoin reserves on all exchanges have dwindled to a three-year low of 1.92 million BTC. This suggests that the supply of BTC on exchanges is at historic lows, potentially providing further fuel for price appreciation.

总体而言，所有交易所的比特币储备已减少至三年低点 192 万比特币。这表明交易所的比特币供应量处于历史低位，可能为价格上涨提供进一步的动力。

ETF Inflows Bolstering Demand

ETF 流入提振需求

The demand for Bitcoin is also being fueled by inflows into exchange-traded funds (ETFs). These funds have attracted billions of dollars in recent months, increasing the demand for BTC.

流入交易所交易基金（ETF）也推动了对比特币的需求。近几个月来，这些资金吸引了数十亿美元，增加了对比特币的需求。

Conclusion

结论

The resurgence in Bitcoin accumulation, coupled with the dwindling supply on exchanges and strong demand from ETFs, suggests that the cryptocurrency may have further room to run. However, it's important to note that cryptocurrency markets are volatile, and investors should conduct their own research before making any investment decisions.

比特币积累的复苏，加上交易所供应量的减少和 ETF 的强劲需求，表明这种加密货币可能还有进一步的运行空间。然而，值得注意的是，加密货币市场波动很大，投资者在做出任何投资决定之前应进行自己的研究。