新鲸鱼正在积极积累比特币（BTC），为新的看涨奔跑奠定了基础？

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。

Bitcoin (BTC) trades below the psychological $90,000 level, with its price at $82,346 after a 24.3% drop from the all-time high above $109,000 in January.

比特币（BTC）的交易低于心理$ 90,000的水平，其价格为82,346美元，此前一月份的历史高度高于109,000美元，其价格下降了24.3％。

But new on-chain data suggests a surge of high-net-worth investors, or “new whales,” who have been accumulating BTC aggressively.

但是，新的链上数据表明，高净值投资者或“新鲸鱼”的激增，他们积极积累了BTC。

According to CryptoQuant analyst onchained, a distinct group of Bitcoin holders with at least 1,000 BTC—acquired within the past six months—has been actively accumulating.

根据CryptoQuant分析师的说法，一群具有至少1,000 BTC的比特币持有人（在过去六个月内获得）一直在积极积累。

This trend, which started in November 2024, has accelerated significantly in recent weeks.

这种趋势始于2024年11月，最近几周已大大加速。

These "new whales" have now amassed over 1 million BTC in total and added more than 200,000 BTC this month alone.

这些“新鲸鱼”现在总共积累了超过100万BTC，仅本月就增加了200,000多个BTC。

This unprecedented accumulation trend suggests strong confidence in Bitcoin’s long-term outlook. The rapid expansion of new whale holdings indicates that institutional investors or high-net-worth individuals are increasing their exposure to Bitcoin.

这种空前的积累趋势表明对比特币长期前景的信心很大。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增加对比特币的接触。

Moreover, the majority of these newly acquired holdings are being retained for short periods (less than six months). This aligns with the observation that investors see value at current price levels and are willing to hold despite market fluctuations.

此外，这些新收购的持股中的大多数正在短期内（不到六个月）。这与投资者在当前价格水平上的价值看到的观察结果一致，尽管市场波动，但仍愿意持有。

If this accumulation trend continues, it could serve as a strong support mechanism for Bitcoin’s price in the coming months.

如果这种积累趋势继续下去，它可以在未来几个月内成为比特币价格的强大支持机制。

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.

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。

"Since November 2024, these wallets have collectively acquired over 1 million BTC… Their accumulation pace has accelerated notably in recent weeks, accumulating more than 202,000 BTC just this month." - By @0nchained pic.twitter.com/jVsFPjY8WA

“自2024年11月以来，这些钱包共同收购了超过100万个BTC……他们的积累速度在最近几周中尤其加速，本月累积了超过202,000 BTC。” - @0nchained pic.twitter.com/jvsfpjy8wa

— CryptoQuant.com (@cryptoquant_com) March 18, 2025

- cryptoquant.com（@cryptoquant_com）2025年3月18日

Is Bitcoin Demand Weakening?

比特币需求削弱吗？

Another CryptoQuant analyst, BilalHuseynov, pointed out potential concerns about Bitcoin’s demand momentum.

另一位加密分析师Bilalhuseynov指出了对比特币需求势头的潜在担忧。

His analysis shows that Bitcoin saw peaks in demand in both March and December 2024. This marks the first time two demand peaks have occurred in close succession.

他的分析表明，比特币在2024年3月和12月的需求中都达到了高峰。这标志着第一次近距离发生了两个需求峰。

But following the March peak, a significant decline in demand is evident.

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. During that cycle, 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进行了比较，尤其是2017-2018时期。在该周期中，动量峰值之后是价格波动，需求逐渐减少。

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 have implications for price movements in the near term.

尽管从那以后，诸如市场规模，交易量和流动性之类的因素发生了巨大变化，但目前的趋势表明，比特币的需求可能会变软，这可能会在近期对价格变动产生影响。