比特币长期持有者抛售，市场见顶？

唐纳德·特朗普在美国总统选举中获胜后，比特币的价格一直处于强劲的看涨趋势。

As the price of Bitcoin continues to rise, on-chain data reveals that Bitcoin long-term holders are beginning to sell off their assets. Historically, similar market behavior coincided with market tops in the 2021 bull cycle, raising the question of whether the pioneer cryptocurrency is finally approaching its market peak.

随着比特币价格持续上涨，链上数据显示比特币长期持有者开始抛售资产。从历史上看，类似的市场行为与 2021 年牛市周期的市场顶部同时发生，引发了这样的问题：先锋加密货币是否最终接近其市场顶峰。

Bitcoin Long-Term Holders Sell, Market Top Ahead?

比特币长期持有者抛售，市场见顶？

The price of Bitcoin has been on a strong bullish trend following Donald Trump’s victory in the US Presidential elections. Leading up to its rise to its previous $100,000 ATH, BTC saw a surge in accumulation, with most whales opting to hold rather than sell their holdings.

唐纳德·特朗普在美国总统选举中获胜后，比特币的价格一直处于强劲的看涨趋势。在比特币升至之前的 10 万美元之前，比特币的积累量激增，大多数鲸鱼选择持有而不是出售其持有的资产。

However, on-chain data has revealed that long-term Bitcoin holders have begun offloading their assets. According to prominent crypto analyst Ali Martinez, this unexpected sell-off by long-term holders often aligns with a market top.

然而，链上数据显示，长期比特币持有者已开始抛售资产。著名加密货币分析师阿里·马丁内斯 (Ali Martinez) 表示，长期持有者的这种意外抛售往往与市场顶部一致。

The chart shared by Martinez on X (formerly Twitter) illustrates the changes in Bitcoin’s long-term holder net position. The Green areas show that long-term holders are accumulating BTC and increasing their net positions. On the other hand, the red areas show that these holders are selling off their holdings and decreasing their net positions.

马丁内斯在 X（以前称为 Twitter）上分享的图表说明了比特币长期持有者净头寸的变化。绿色区域表明长期持有者正在积累比特币并增加净头寸。另一方面，红色区域表明这些持有者正在抛售其持仓并减少净头寸。

Martinez noted that long-term holders tend to distribute their holdings as BTC approaches a market top. This observation is supported by their behavior during the Bitcoin bull run in 2021.

马丁内斯指出，当比特币接近市场顶部时，长期持有者倾向于分配其持有的资产。这一观察结果得到了他们在 2021 年比特币牛市期间的行为的支持。

Between 2017 and 2021, the largest red (sell-off) areas occurred shortly after Bitcoin’s final surge to a new all-time high (ATH). After this surge, BTC experienced significant price corrections, signaling the market top and the end of the bull run.

2017 年至 2021 年间，最大的红色（抛售）区域出现在比特币最终飙升至历史新高 (ATH) 后不久。此次飙升之后，BTC 经历了大幅价格调整，标志着市场见顶和牛市结束。

The recent red area in the chart shows that long-term Bitcoin holders are selling off their holdings again. If historical trends repeat, the current sell-off could indicate that BTC is nearing a peak; however, a last upward rally could still occur.

图表中最近的红色区域显示长期比特币持有者再次抛售其持有的比特币。如果历史趋势重演，当前的抛售可能表明 BTC 已接近峰值；然而，最后一次向上反弹仍有可能发生。

While past trends can not guarantee future outcomes, they still provide insights into potential market movements. With Bitcoin experiencing rapid growth and surging past $100,000, a market top could be in sight any time soon.

虽然过去的趋势不能保证未来的结果，但它们仍然可以提供对潜在市场走势的洞察。随着比特币经历快速增长并飙升至 10 万美元以上，市场顶部可能很快就会出现。

BTC Hits New ATH, What’s Next?

BTC突破新ATH，下一步是什么？

Recently, Bitcoin achieved a new ATH, surging past previous resistance levels to reach $106,260. The cryptocurrency’s price had jumped over 4.8% in one day, fueling discussions and excitement in the crypto community. Despite reaching a new ATH, BTC has since corrected to $105,013 as of writing.

最近，比特币创下了新的 ATH，突破了之前的阻力位，达到 106,260 美元。该加密货币的价格一天之内上涨了 4.8% 以上，引发了加密社区的讨论和兴奋。尽管达到了新的最高点，但截至撰写本文时，BTC 已修正至 105,013 美元。

Crypto analyst Captain Faibik on X has also expressed excitement about the new ATH, providing an even more bullish outlook for the pioneer cryptocurrency. According to Faibik, the Bitcoin Ascending Triangle upside breakout has been officially confirmed on the daily timeframe, indicating a potential for an uptrend continuation.

X 上的加密货币分析师 Captain Faibik 也表达了对新 ATH 的兴奋，为先锋加密货币提供了更加乐观的前景。据 Faibik 称，比特币上升三角形的上行突破已在每日时间框架内得到正式确认，表明上升趋势有可能延续。

The analyst predicts that Bitcoin could retest support levels but expects the cryptocurrency to initiate its next bullish surge afterward. Consequently, Faibik has set his next BTC target between $113,000 and $115,000 before the end of 2024.

分析师预测，比特币可能会重新测试支撑位，但预计加密货币随后将启动下一次看涨飙升。因此，Faibik 将 2024 年底前的下一个 BTC 目标设定在 113,000 美元至 115,000 美元之间。