与Q1 2024相比

根据一名链分析师的说法，与Q1 2024相比，第二季度2025年休眠比特币（BTC）的运动增加了121％。

According to an on-chain analyst, the movement of dormant Bitcoins (BTC) increased by 121% in Q1 2025 compared to Q1 2024.

根据一名链分析师的说法，与Q1 2024相比，第二季度2025年休眠比特币（BTC）的运动增加了121％。

This shift may signal that long-term investors are reacting to broader economic trends or anticipating market changes.

这种转变可能表明，长期投资者正在对更广泛的经济趋势或预期市场变化做出反应。

Dormant Bitcoin on the Move: What’s Driving the Trend?

移动中休眠的比特币：是什么推动了趋势？

In a recent post on CryptoQuant, the analyst revealed that investors moved around 28,000 dormant Bitcoins in Q1 2024. March was particularly noteworthy, with approximately 19,296 BTC moved. This was in contrast to the lower figures in January (approximately 3,034 BTC) and February (approximately 5,678 BTC).

分析师在最近的一篇关于加密货币的文章中透露，投资者在2024年第1季度移动了约28,000个休眠的比特币。三月特别值得注意，大约19,296 BTC移动了。这与一月份的较低数字（约3,034 BTC）和2月（约5,678 BTC）形成对比。

“In the first three months of 2025, more than twice the amount of long-dormant Bitcoin has been moved compared to the same period in 2024,” the post read.

“在2025年的前三个月中，与2024年同期相比，长期休眠比特币的数量已移动的两倍以上。”

Comparing this to the first quarter of 2025, the total amount of Bitcoin moved was notably higher. Over 62,0 Bitcoins, dormant for over seven years, was transferred. Specifically, investors moved 24,595 BTC in January, 21,820 BTC in February, and 16,456 BTC in March.

将此与2025年第一季度进行比较，比特币的总量移动量明显更高。超过62,0比特币，休眠了7年以上，被转移了。具体来说，投资者在1月份迁移了24,595 BTC，2月21,820 BTC和3月的16,456 BTC迁移。

The analyst suggested that this surge in activity reflects a shift in sentiment among long-term Bitcoin holders. This shift could be driven by macroeconomic factors, evolving price expectations, or institutional liquidity demands.

分析师认为，这种活动激增反映了长期比特币持有人情绪的转变。这种转变可能是由宏观经济因素，价格期望不断发展或机构流动性需求驱动的。

Notably, 2025 has proven to be a turbulent year for Bitcoin. Geopolitical shifts, rising trade tensions, and growing economic concerns have significantly impacted the market.

值得注意的是，2025年被证明是比特币的动荡一年。地缘政治转变，贸易紧张局势的上升以及日益增长的经济关注对市场产生了重大影响。

Recently, Glassnode pointed out that Bitcoin has experienced its deepest drawdown of the cycle. In its weekly newsletter, the firm emphasized that investors are facing intense pressure. Furthermore, many are currently experiencing their largest unrealized losses ever.

最近，GlassNode指出，比特币在周期中经历了最深的缩水。该公司在每周的新闻通讯中强调，投资者面临着巨大的压力。此外，许多人目前正在遭受有史以来最大的未实现损失。

“Current unrealized losses are largely concentrated among newer investors, while long-term holders remain in a position of unilateral profitability. However, an important nuance is emerging, as recent top buyers age into long-term holder status, as noted, the level of unrealized loss within this cohort is likely to increase,” the newsletter read.

“当前未实现的损失主要集中在新的投资者中，而长期持有人仍然处于单方面盈利能力的位置。但是，正如最近的顶级买家在长期持有人身份中的年龄增长，这一群体中未实现的损失水平可能会增加，”新闻通讯记录说。

However, Glassnode noted that BTC’s dip remains within the typical range of previous corrections seen in bull markets. Importantly, Bitcoin has also been on a recovery rally lately.

但是，GlassNode指出，BTC的倾角仍在牛市以前的校正范围内。重要的是，比特币最近也进行了恢复集会。

Over the past week, its value has appreciated by 8.9%. Yet, daily losses stood at 2.2%. At the time of writing, BTC was trading at $92,164. The decline wasn’t isolated, as the broader crypto market also experienced a correction.

在过去的一周中，其价值增长了8.9％。然而，每日损失为2.2％。在撰写本文时，BTC的交易价格为92,164美元。由于更广泛的加密市场也进行了更正，因此下降并没有孤立。

Meanwhile, the increased movement of dormant assets is not limited to Bitcoin. A parallel trend has emerged in the Ethereum (ETH) market.

同时，休眠资产的增加不限于比特币。以太坊（ETH）市场出现了平行趋势。

Data from Lookonchain showed that in early February, a whale deposited its entire holdings of 77,736 ETH into Bitfinex after being inactive for six years.

LookonChain的数据显示，在2月初，一条鲸鱼在六年不活动后将其全部77,736 ETH的持有量存入了Bitfinex。

In early April, Onchain Lens posted about an eight-year dormant whale moving 11,104 ETH worth 19.97 million.

4月初，Onchain Lens发布了约八年的休眠鲸鱼，搬迁11104 ETH，价值1997万。

“Of this, 247.93 ETH was sent to Coinbase and 10,856 ETH to a new wallet. The whale initially withdrew ETH for $2.51 million from Kraken and Gemini, 8 years ago,” Onchain Lens added.

“其中，有247.93 ETH被送往Coinbase，10,856 ETH送往一个新钱包。鲸鱼最初以8年前的Kraken和Gemini以251万美元的价格撤回了ETH，” Onchain Lens补充说。

This asset movement reflects investors’ strategic repositioning amid economic uncertainty.

这种资产运动反映了经济不确定性和经济不确定性的战略重新定位。