5 月 6 日，CryptoQuant 分析师 Axel Adler Jr. 在社交媒体上发文表示，「比特币短期持有者（持币时间为 1 至 3 个月）代表了最激进的市场参与者，包括通过 ETF 经纪商交易比特币的专业投机者。在当前的牛市周期中，他们的净未实现盈亏（NUPL）通常会上升到超过 40% 的区间，此后他们便开始获利了结，从而在现货市场上形成抛压。
目前，该群体的 NUPL 为 8%，其 30 日简单移动平均线（SMA）仍为负值，维持在-2%。在 NUPL 突破 40% 之前，这一群体带来的抛压将保持在较低水平，这被视为一个看涨信号。」

<div><p>5 月 6 日，CryptoQuant 分析师 Axel Adler Jr. 在社交媒体上发文表示，「比特币短期持有者（持币时间为 1 至 3 个月）代表了最激进的市场参与者，包括通过 ETF 经纪商交易比特币的专业投机者。在当前的牛市周期中，他们的净未实现盈亏（NUPL）通常会上升到超过 40% 的区间，此后他们便开始获利了结，从而在现货市场上形成抛压。</p><p>目前，该群体的 NUPL 为 8%，其 30 日简单移动平均线（SMA）仍为负值，维持在-2%。在 NUPL 突破 40% 之前，这一群体带来的抛压将保持在较低水平，这被视为一个看涨信号。」</p></div>

分析师：比特币短期持有者尚未大幅获利了结形成抛压，上涨动能仍在蓄积

On May 6th, <AXEL> Adler Jr., a CryptoQuant analyst, posted on social media, "Short-term Bitcoin holders (holding for 1 to 3 months) represent the most aggressive market participants, including professional speculators trading Bitcoin through ETF brokers. In the current bull market cycle, their Net Unrealized Profit/Loss (NUPL) typically rises to over 40%, after which they begin to take profits, creating selling pressure in the spot market.

Currently, this group's NUPL is 8%, with its 30-day Simple Moving Average (SMA) still negative, remaining at -2%. Before the NUPL breaks through 40%, the selling pressure from this group will remain at a low level, which is considered a bullish signal."

<div><p>On May 6th, CryptoQuant analyst AXEL Adler Jr. posted on social media, "Bitcoin short-term holders (holding period of 1 to 3 months) represent the most aggressive market participants, including professional speculators trading Bitcoin through ETF brokers. In the current bull market cycle, their Net Unrealized Profit and Loss (NUPL) typically rises to over 40%, after which they begin to take profits, creating selling pressure in the spot market.

Currently, this group's NUPL is 8%, with its 30-day Simple Moving Average (SMA) still negative, remaining at -2%. Before the NUPL breaks through 40%, the selling pressure from this group will remain at a low level, which is considered a bullish signal."</p></div>

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