新鲸已经积累了比特币（BTC），表明很有信心

比特币（BTC）继续以低于90,000美元的心理交易，其价格为82,346美元。这标志着1月份记录的109,000美元以上的历史高处下降了24.3％。

Bitcoin (BTC) price hovers below the key $90,000 psychological level, with its latest price standing at $82,346. This marks a 24.3% drop from its all-time high above $109,000, which was reached in January.

比特币（BTC）的价格徘徊在关键$ 90,000的心理水平上，其最新价格为82,346美元。这标志着一月份达到的109,000美元以上的历史高度下降了24.3％。

However, despite this downward trend, new on-chain data suggests that a surge of high-net-worth investors, or "new whales," has been aggressively accumulating BTC in recent months, which could have major implications for the crypto's trajectory.

但是，尽管有这种下降趋势，但新的链上数据表明，近几个月来，高净值投资者或“新鲸鱼”的激增一直在积极积累BTC，这可能对加密货币的轨迹产生重大影响。

According to CryptoQuant analyst onchained, there has been a distinct group of Bitcoin holders, each holding at least 1,000 BTC and with new coins acquired within the past six months, who have been diligently accumulating.

根据CryptoQuant分析师的说法，有一群独特的比特币持有人，每个持有人至少持有1,000 BTC，并且在过去六个月内获得了新硬币，他们一直在努力积累。

This trend, which began in November 2024, has accelerated drastically in recent weeks. These new whales have now amassed over 1 million BTC in total and added more than 200,000 BTC just this month.

这种趋势始于2024年11月，最近几周急剧加速。这些新鲸鱼现在总共积累了超过100万BTC，本月增加了200,000多个BTC。

"It's truly remarkable. We've never witnessed anything like it in previous bull markets. Usually, in a bull market, a new group of whales emerges gradually over a period of 6-12 months. However, this time it's been exceptionally swift," remarked the analyst.

“这确实是非常了不起的。在以前的牛市中，我们从未见过类似的东西。通常，在牛市中，一群新的鲸鱼逐渐在6-12个月内逐渐出现。但是，这次非常迅速，”分析师说。

Unprecedented Accumulation Trend

空前的积累趋势

Onchained further highlighted that this unprecedented accumulation trend speaks volumes about the deep-seated confidence these investors have in Bitcoin’s long-term outlook.

Onchained进一步强调，这种前所未有的积累趋势表达了这些投资者对比特币长期前景所具有的深厚信心。

The rapid expansion of new whale holdings suggests that either institutional investors or high-net-worth individuals are significantly increasing their exposure to Bitcoin.

新鲸鱼持有的迅速扩张表明，机构投资者或高净值个人正在大大增加对比特币的接触。

The analyst noted that the majority of these newly acquired holdings are being retained for short periods of time (less than six months), which aligns with the current market narrative.

分析师指出，这些新近获得的持股中的大多数正在短期内（少于六个月），这与当前的市场叙述保持一致。

It suggests that investors see value at present price levels and are prepared to hold despite market fluctuations.

这表明投资者在当前价格水平上看到价值，尽管市场波动，但仍准备持有。

If this accumulation trend persists, it could serve as a strong support mechanism for Bitcoin’s price in the coming months. Onchained also speculated that Bitcoin could revisit its all-time high and potentially break beyond it, mentioning possible price targets of $150,000 or even $160,000.

如果这种积累趋势持续存在，它可以作为未来几个月比特币价格的强大支持机制。 Onchained还推测，比特币可能会重新审视其历史最高水平并有可能超越其超越它，提到可能的价格目标为150,000美元甚至160,000美元。

However, market conditions, liquidity, and investor sentiment will play a crucial role in determining the sustainability of this trend.

但是，市场状况，流动性和投资者情绪将在确定这一趋势的可持续性中发挥关键作用。

Is Bitcoin Demand Weakening?

比特币需求削弱吗？

While whale accumulation suggests strong long-term conviction, another CryptoQuant analyst, BilalHuseynov, has spotted potential concerns over Bitcoin’s demand momentum.

尽管鲸鱼的积累表明了强烈的长期定罪，但另一位加密分析师Bilalhuseynov发现了对比特币需求势头的潜在问题。

His analysis shows that Bitcoin saw peaks in demand in both March and December 2024, marking the first time two demand peaks have occurred in close succession. But following the March peak, a significant decline in demand is evident.

他的分析表明，比特币在2024年3月和12月的需求中达到了高峰，这是第一次接近连续的两个需求峰值。但是，在三月峰值之后，需求大幅下降是显而易见的。

Huseynov compared this trend to previous market cycles, particularly the 2017-2018 period, when momentum peaks were followed by price fluctuations and a gradual decrease in demand.

Huseynov将这种趋势与以前的市场周期（尤其是2017 - 2018年期间）进行了比较，当时动量峰值随后是价格波动，需求逐渐下降。

He noted that while factors such as market size, trading volume, and liquidity have changed drastically since then, the current trend suggests that Bitcoin’s demand may be softening, which could impact price movements more in the near term.

他指出，尽管从那以后的市场规模，交易量和流动性等因素发生了巨大变化，但目前的趋势表明，比特币的需求可能正在减轻，这可能会在短期内影响价格变动。