Bitfinex鲸鱼持续了长时间的BTC，因为M2货币供应台

比特币（BTC）的价格从3月11日低至76703美元的低价上涨了8％，部分是由大型投资者积极地用杠杆购买的蘸酱。

Bitcoin (BTC) price has risen 8% from its March 11 low of $76,703, and large investors buying the dip with leverage may have contributed to the cryptocurrency’s recent recovery.

比特币（BTC）的价格从3月11日低至76,703美元的低价上涨了8％，大型投资者以杠杆作用购买了DIP可能会导致加密货币最近的回收率。

Margin longs on Bitfinex surged to their highest level since November 2024, with 13,787 BTC added over 17 days. Currently standing at $5.7 billion, this bullish leveraged positioning signals confidence in Bitcoin’s upside potential despite recent price weakness.

Bitfinex的保证金渴望升至2024年11月以来的最高水平，在17天内增加了13,787 BTC。目前，这种看涨的杠杆定位率目前为57亿美元，表明尽管最近的价格疲软，但仍对比特币的上升潜力信心。

Bitcoin/USD (orange, left) vs. Bitfinex BTC margin longs (right). Source: TradingView / CointelegraphSome analysts argue that Bitcoin’s price is closely linked to the global monetary base, meaning it tends to rise as central banks inject liquidity.

比特币/USD（橙色，左）与Bitfinex BTC保证金（右）。资料来源：TradingView / Cointelegraphsome分析师认为，比特币的价格与全球货币基础密切相关，这意味着随着中央银行注入流动性，它往往会上升。

With reports of a looming recession, the likelihood of expansionary monetary policies to increase the money supply grows. If this correlation holds, the Bitfinex whales could be well-positioned to capitalize on a rally above $105,000 in the next two months.

有关于迫在眉睫的经济衰退的报道，增加货币供应量的扩张货币政策的可能性增加了。如果这种相关性成立，那么在接下来的两个月中，Bitfinex鲸鱼可能会充分利用超过105,000美元的拉力。

For instance, X user Pakpakchicken claims to have identified an 82% correlation between the global money supply (M2) and Bitcoin’s price.

例如，X用户Pakpakchicken声称已经确定了全球货币供应（M2）和比特币价格之间的相关性82％。

When central banks drain liquidity by increasing interest rates or reducing bond holdings, traders become more risk-averse, leading to weaker demand for Bitcoin. Conversely, periods of monetary easing tend to fuel greater investor interest in the asset, ultimately pushing its price higher.

当中央银行通过提高利率或降低债券持有率来消耗流动性时，交易者变得更加风险，导致对比特币的需求较弱。相反，货币宽松时期往往会激发投资者对资产的更大兴趣，最终将其价格提高。

Bitfinex whales go long BTC as M2 bottoms

bitfinex鲸鱼长时间btc作为M2底部

In early September 2024, Bitfinex margin traders added 7,840 BTC in long positions. This period coincided with some bearish momentum as Bitcoin struggled to reclaim the $50,000 level for over three months.

2024年9月初，Bitfinex保证金交易员在长位置上增加了7,840 BTC。这一时期恰逢一些看跌的动力，因为比特币在三个月内努力夺回了50,000美元的水平。

Despite the downturn, these Bitfinex whales held their positions, and Bitcoin’s price surged past $75,000 less than two months later. Notably, the global M2 money supply bottomed out around the same time these traders increased their Bitcoin exposure.

尽管经济低迷，这些Bitfinex鲸鱼的职位却保持了，比特币的价格在不到两个月后的75,000美元以上。值得注意的是，全球M2货币供应大约在这些交易者增加了比特币的曝光率。

It may be impossible to establish a clear cause-and-effect relationship between money supply and investors’ willingness to accumulate Bitcoin, especially considering the impact of major events during these periods.

可能不可能在货币供应和投资者积累比特币的意愿之间建立明确的因果关系，尤其是考虑到这些时期重大事件的影响。

For example, Donald Trump’s election as US president in November 2024 significantly fueled Bitcoin’s rally due to the new administration’s pro-crypto stance, regardless of global M2 trends and liquidity conditions.

例如，唐纳德·特朗普（Donald Trump）于2024年11月当选美国总统，由于新政府的亲克赖特托（Crypto）立场，无论全球M2趋势和流动性条件如何，都大大加剧了比特币的集会。

Spot Bitcoin ETF net flows, USD. Source: CoinGlass

斑点比特币ETF净流量，美元。资料来源：小店

Similarly, Michael Saylor’s latest plan to raise up to $21 billion in fresh capital for Strategy to acquire more Bitcoin could shift market dynamics, even accounting for the $4.1 billion in net outflows from Bitcoin spot exchange-traded funds (ETFs) since Feb. 24.

同样，迈克尔·塞勒（Michael Saylor）的最新计划筹集了高达210亿美元的新资本，以获取更多比特币的战略可能会改变市场动态，甚至是2月24日以来比特币现货交易所交易所资金（ETF）的41亿美元净外流。

Strategy remains the largest corporate Bitcoin holder, with 499,096 BTC acquired at a total cost of $33.1 billion, showcasing their persistent long-term bullish strategy.

策略仍然是最大的公司比特币持有人，其中499,096 BTC以331亿美元的总成本获得，展示了其持续的长期看涨战略。

Clearer crypto regulation, Strategy capital increase

更清晰的加密监管，战略资本增加

In essence, the expansion of the global money

本质上，全球资金的扩张