3到6个月大的比特币买家最近一直保持强大，表明信念不是屈服

链上分析公司GlassNode解释了在比特币顶部购买的投资者如何表现出信念，而不是投降。

On-chain analytics firm Glassnode explains how investors who bought at the Bitcoin top are showing conviction, not capitulation.

链上分析公司GlassNode解释了在比特币顶部购买的投资者如何表现出信念，而不是投降。

3 To 6 Months Old Bitcoin Buyers Have Been Holding Strong Recently

3到6个月大的比特币买家最近一直保持强大

In a new post on X, on-chain analytics firm Glassnode has discussed a couple of Bitcoin investor cohorts. One of these groups is the “long-term holder” (LTH) cohort, which includes the BTC investors who bought their coins more than 155 days ago.

在X上的新帖子中，链分析公司GlassNode讨论了一些比特币投资者同伙。这些团体之一是“长期持有人”（LTH）的同伙，其中包括155天以上购买硬币的BTC投资者。

Statistically, the longer a holder keeps their coins dormant, the less likely they become to move the coins at any point. As such, the LTHs with their appreciable time represent the resolute side of the market.

从统计上讲，持有人保持硬币处于休眠状态，他们在任何时候移动硬币的可能性就越小。因此，LTH及其可观的时间代表了市场的坚决。

Though, while these investors can be termed as ‘diamond hands,’ it’s not as if they never participate in any selling at all. In fact, during two selling waves in the current cycle alone, the group has done a total distribution of 2 million BTC.

但是，尽管这些投资者可以被称为“钻石之手”，但似乎根本没有参加任何销售。实际上，仅在当前周期中的两个销售波中，该集团的总分布为200万BTC。

This chart shows the change in the LTH supply. Credit: Glassnode

该图显示了LTH供应的变化。学分：玻璃节

From the above graph, it’s visible that the first LTH selloff was followed by a period of re-accumulation, which brought the group’s supply back to almost the same level as before the distribution wave.

从上图可以看出，第一个第一位抛售之后是重新积累的时期，这使该集团的供应恢复到了分配浪潮之前的水平几乎相同。

The second distribution phase, which occurred between October 2024 and January 2025, is also similarly being followed by an accumulation wave, as the LTH supply has been rising during the last couple of months. “This cyclical balance may be stabilizing price action,” notes the analytics firm.

第二个分配阶段发生在2024年10月至2025年1月之间，随后也是累积浪潮，因为在过去的几个月中，LTH供应一直在上升。分析公司指出：“这种周期性的平衡可能正在稳定价格行动。”

Something to note is that whenever the LTH supply rises, it doesn’t represent any buying that’s occurring in the ‘now.’ Rather, it shows that some accumulation occurred 155 days ago and those coins have now been held long enough to become a part of the cohort.

需要注意的是，每当LTH供应上升时，它都不代表“现在”中发生的任何购买。相反，它表明有些积累发生在155天前，这些硬币现在已经被足够长的时间来成为该队列的一部分。

This five-month cutoff puts the latest LTH acquisition point at the end of November, which means that the recent increase in the indicator correlates to buying that took place during the BTC rally to prices above $90,000.

这个五个月的临界值将11月底的最新第lth收购点提出了最新的收购点，这意味着该指标最近的增加与在BTC Rally期间发生的购买的价格相关联，价格达到了90,000美元以上的价格。

Many of the November buyers should still be in the red, but these investors have continued to hold, becoming the fabled HODLers.

11月的许多买家仍应处于红色中，但是这些投资者继续持有，成为传说中的霍德尔人。

Another interesting group of investors is the 3-month to 6-month cohort. This group contains the holders who are transitioning into the LTHs. A large part of these investors would have bought at or near the price all-time high (ATH).

另一个有趣的投资者是3个月到6个月的队列。该小组包含过渡到LTHS的持有人。这些投资者中很大一部分将以史无前例的价格（ATH）购买。

As of December 2024, this group still has around 680,000 BTC, which is valued at roughly $57 billion at today’s prices. In the last three months alone, the wealth of this group has increased by 20%, even as the Bitcoin price has stayed largely range-bound.

截至2024年12月，该集团仍然拥有大约680,000个BTC，其价值约为570亿美元。仅在过去的三个月中，即使比特币的价格在很大程度上限制了，该集团的财富就会增长20％。

Naturally, the weak hands who got in during the Bitcoin top would have already capitulated long ago and never matured into the 3 months to 6 months range, but it’s still significant that those who are left aren’t shaken by the market volatility.

自然，在比特币顶部进入的软弱的手已经很久以前就已经引发了，并且从未成熟到3个月至6个月的范围，但是仍然很重要的是，那些不因市场波动而动摇的人仍然很重要。

BTC Price Today

今天的BTC价格

At the time of writing, Bitcoin is trading at around $84,300. The leading cryptocurrency is down by more than 3% in the seven days.

在写作时，比特币的交易价格约为84,300美元。在7天内，领先的加密货币下降了3％以上。