随着不确定性在全球市场蔓延，比特币网络出现了强烈的信号

超过170,000 BTC，相当于近140亿美元，已经留下了休眠的钱包。如此罕见的大规模运动重新激活了高波动性的幽灵。

As uncertainty washes over global markets, a strong signal emerges from the Bitcoin network: over 170,000 BTC, roughly 14 billion dollars, have left dormant wallets. Such a rare and massive movement is now rolling through the blockchain, bearing the specter of high volatility. In response to this on-chain shock, investor strategies are splitting between caution and accumulation.

随着全球市场上的不确定性洗涤，比特币网络发出了强烈的信号：超过170,000 BTC（约140亿美元）留下了休眠的钱包。现在，如此罕见的巨大运动正在横穿区块链，带有高波动性的幽灵。为了应对这种链上的冲击，投资者的策略正在谨慎和积累之间分裂。

Unprecedented on-chain activity heralds strong volatility

前所未有的链活动预示着强烈的波动

Data published by CryptoQuant reveals a huge wave rolling through the Bitcoin blockchain: more than 170,000 BTC have been transferred from wallets that had remained inactive for periods ranging from three to six months.

CryptoQuant发布的数据表明，通过比特币区块链滚动了一个巨大的波浪：超过170,000 BTC已从在三到六个月内一直不活跃的钱包中转移了。

This type of movement, rarely insignificant, is usually observed in phases of high volatility. "Such movements suggest that the holders are anticipating a significant opportunity or an imminent risk," notes Mignolet, a CryptoQuant analyst, on April 18.

这种类型的运动通常在高波动率的阶段中观察到很少不重要。一名隐秘分析师Mignolet在4月18日指出：“这种运动表明持有者预计会有很大的机会或迫在眉睫的风险。”

This transfer represents an enormous sum of 14 billion dollars, naturally attracting the attention of industry experts.

这种转移代表了140亿美元的巨额资金，自然吸引了行业专家的注意。

These unusual flows come at a time of great economic and geopolitical tension. The BTC market is currently stabilizing within a range of 75,000 to 87,000 dollars, but several indicators suggest that a trend might be breaking. Among the key elements:

这些不寻常的流动是在巨大的经济和地缘政治紧张局势的时候出现的。 BTC市场目前正在稳定在75,000至87,000美元的范围内，但一些指标表明趋势可能正在破裂。在关键要素中：

In this charged climate, the signals sent by the blockchain are not lost on observers. This strategic repositioning of some holders suggests that the market is preparing for a phase of high amplitude.

在这种充电的气候中，区块链发送的信号不会在观察者身上丢失。对某些持有人的这种战略重新定位表明，市场正在为高振幅的阶段做准备。

Whales continue to accumulate despite macroeconomic turmoil

尽管宏观经济动荡，鲸鱼仍继续积累

While on-chain flows seem to reflect a short-term repositioning, another, quieter signal is being detected: the continued accumulation of BTC by whales.

虽然链上的流似乎反映了短期重新定位，但正在检测到另一个更安静的信号：鲸鱼持续积累了BTC。

According to an analysis by Glassnode, these large investors are currently buying bitcoin at a rate three times higher than the annual issuance rate. "This aggressive accumulation indicates considerable confidence in bitcoin's long-term fundamental value," highlights the report.

根据GlassNode的分析，这些大型投资者目前以比年度发行率高三倍的速度购买比特币。该报告强调说：“这种积极的积累表明对比特币的长期基本价值的信心很大。”

Another remarkable trend is that of net BTC outflows from exchange platforms, which are reaching historic levels. This phenomenon, often interpreted as a sign of long-term holding and growing distrust towards centralized actors, indicates a paradigm shift.

另一个显着的趋势是，BTC净流出的交换平台流出，该平台已达到历史水平。这种现象通常被解释为长期持有和对集中式参与者不信任的标志，表明范式的转变。

Instead of selling or speculating, many investors now seem to prefer self-custody, reinforcing the idea of a market increasingly oriented towards conservation.

现在，许多投资者似乎不喜欢销售或猜测，而是似乎更喜欢自我顾客，从而增强了市场越来越注重保护的想法。

If this dynamic persists, it could influence the very structure of the crypto market, reducing available liquidity on exchanges and rendering price movements more abrupt. In the medium term, this strategy could fuel upward pressure if demand continues to increase against a tightening supply. This dual movement, between imminent volatility and strategic accumulation, suggests a potentially major turning point in bitcoin's evolution.

如果这种动态持续存在，它可能会影响加密市场的结构，从而更加突然地降低交易所的可用流动性和使价格变动。在中期，如果需求不断增加，则该策略可能会加剧压力。这种双重运动在迫在眉睫的波动性和战略积累之间，这表明比特币进化中可能是主要的转折点。