Glassnode Analytics 聚焦比特币持有者群体的购买模式

Glassnode 数据显示，OG 比特币持有者（“Fish”）的实现价格最低为 15,630 美元，明显低于 Whales 的 35,290 美元。从历史上看，当比特币的价格达到 Fish 的实际价格时，通常就标志着市场触底，如 2011 年、2014 年和 2018 年所观察到的那样。Fish 在熊市期间持续积累比特币，这表明了他们精明的投资策略。

Glassnode Data Reveals Insightful Patterns in Bitcoin Holder Behavior

Glassnode 数据揭示了比特币持有者行为的深刻模式

Recent data from Glassnode, a leading blockchain analytics firm, has shed light on the buying and holding strategies of different Bitcoin investor cohorts. The analysis focuses on the concept of "realized price," which represents the average cost at which Bitcoin holders acquired their coins.

领先的区块链分析公司 Glassnode 的最新数据揭示了不同比特币投资者群体的购买和持有策略。该分析重点关注“已实现价格”的概念，它代表比特币持有者获取其硬币的平均成本。

Fish: The "Smart Money" in Bitcoin

鱼：比特币中的“聪明钱”

According to Glassnode, Fish, categorized as holders possessing 1 to 10 BTC, currently boast the lowest realized price of $15,630, indicating they have acquired Bitcoin at a significantly lower cost compared to other holder groups. Historically, the realized price of Fish has served as a key indicator of market bottoms, as seen during previous bear markets in 2011, 2014, and 2018.

根据 Glassnode 的数据，Fish 被归类为拥有 1 至 10 BTC 的持有者，目前其实现的最低价格为 15,630 美元，这表明与其他持有者群体相比，他们以低得多的成本获得了比特币。从历史上看，鱼的实际价格一直是市场触底的关键指标，正如 2011 年、2014 年和 2018 年熊市期间所见。

Whales: The Average Cost of Acquisition

鲸鱼：平均收购成本

In contrast, Whales, holders with 100 to 1,000 BTC, have a realized price of $35,290, indicating they have acquired Bitcoin at a higher average cost than Fish. This suggests that Fish have been more strategic in their buying, potentially accumulating Bitcoin at more opportune times.

相比之下，持有 100 到 1,000 BTC 的鲸鱼的实际价格为 35,290 美元，这表明他们以比鱼更高的平均成本购买比特币。这表明 Fish 在购买时更具战略性，可能会在更合适的时机积累比特币。

Fish: Not Just Lost Coins

鱼：不仅仅是丢失的硬币

Analyzing the number of Fish addresses reveals an intriguing trend. Fish numbers tend to increase during bear markets, indicating that they are not simply lost Bitcoin holders. Additionally, they accumulated significant Bitcoin during the bullish run from November 2022 to October 2023. This suggests that Fish are active participants in the market, taking advantage of market fluctuations.

分析 Fish 地址的数量揭示了一个有趣的趋势。在熊市期间，鱼的数量往往会增加，这表明它们不仅仅是失去了比特币持有者。此外，他们在 2022 年 11 月至 2023 年 10 月的牛市期间积累了大量比特币。这表明 Fish 是市场的积极参与者，利用市场波动。

Evolution in the Bitcoin Ecosystem

比特币生态系统的演变

However, Fish addresses have declined since October 2023, while the realized price for Fish has increased from $13,282 to $15,530. This suggests that some Fish may be taking profits or evolving into Sharks (holders with 100 to 1,000 BTC).

然而，自 2023 年 10 月以来，Fish 地址有所下降，而 Fish 的实现价格从 13,282 美元上涨至 15,530 美元。这表明一些鱼可能正在获利或演变成鲨鱼（拥有 100 到 1,000 BTC 的持有者）。

Shifts in Investor Sentiment

投资者情绪的转变

The data also provides insight into the shifting sentiment among Bitcoin investors. The divergence between the realized price of Fish and the trading price of Bitcoin suggests that some Fish are selling their coins, while others are holding onto their investments or even acquiring more. This could indicate a mix of bullish and bearish sentiment within the Bitcoin market.

该数据还提供了对比特币投资者情绪变化的洞察。 Fish 的实际价格与比特币交易价格之间的差异表明，一些 Fish 正在出售其代币，而另一些则保留其投资甚至购买更多。这可能表明比特币市场内存在看涨和看跌情绪。

Conclusion

结论

The Glassnode data offers valuable insights into the buying and holding strategies of different Bitcoin investor cohorts. Fish, with their low realized price and historical role in market bottoms, emerge as the "smart money" in Bitcoin. Whales, with their higher realized price, provide a benchmark for the average cost of acquisition. The dynamic behavior of Fish, coupled with the overall Bitcoin market sentiment, highlights the complexities and opportunities within the cryptocurrency ecosystem.

Glassnode 数据为不同比特币投资者群体的购买和持有策略提供了宝贵的见解。鱼以其较低的实现价格和在市场底部的历史作用，成为比特币中的“聪明钱”。鲸鱼的实现价格较高，为平均收购成本提供了基准。 Fish 的动态行为，加上比特币的整体市场情绪，凸显了加密货币生态系统内的复杂性和机遇。