{"id":24854,"date":"2025-11-18T00:34:18","date_gmt":"2025-11-17T15:34:18","guid":{"rendered":"https:\/\/icobench.com\/jp\/?p=24854"},"modified":"2025-11-18T00:34:18","modified_gmt":"2025-11-17T15:34:18","slug":"bitcoin-whale-selling-pressure-late-cycle-analysis-glassnode","status":"publish","type":"post","link":"https:\/\/icobench.com\/jp\/news\/bitcoin-whale-selling-pressure-late-cycle-analysis-glassnode\/","title":{"rendered":"\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u3001\u65b0\u898f\u30af\u30b8\u30e913\u5104\u30c9\u30eb\u640d\u5931\u3082\u5e02\u5834\u5065\u5168\uff5c\u9577\u671f\u4fdd\u6709\u8005\u306e\u84c4\u7a4d\u306f\u6025\u5897"},"content":{"rendered":"<p>\u30d6\u30ed\u30c3\u30af\u30c1\u30a7\u30fc\u30f3\u5206\u6790\u4f01\u696d\u30b0\u30e9\u30b9\u30ce\u30fc\u30c9\u306e\u30a2\u30ca\u30ea\u30b9\u30c8\u306f14\u65e5\u3001\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\uff08BTC\uff09\u306e\u5927\u53e3\u4fdd\u6709\u8005\u306b\u3088\u308b\u6700\u8fd1\u306e\u58f2\u308a\u5727\u529b\u306b\u3064\u3044\u3066\u3001\u4eee\u60f3\u901a\u8ca8\u5e02\u5834\u30b5\u30a4\u30af\u30eb\u306e\u5f8c\u671f\u6bb5\u968e\u3067\u898b\u3089\u308c\u308b\u5178\u578b\u7684\u306a\u52d5\u304d\u3067\u3042\u308a\u3001\u904e\u53bb\u3068\u6bd4\u8f03\u3057\u3066\u7279\u306b\u61f8\u5ff5\u3059\u3079\u304d\u6c34\u6e96\u3067\u306f\u306a\u3044\u3068\u306e\u898b\u89e3\u3092\u793a\u3057\u305f\u3002<\/p>\n<p>\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u306f\u904e\u53bb\u6570\u9031\u9593\u300111\u4e07\u30c9\u30eb\u3092\u4e0b\u56de\u308b\u6c34\u6e96\u3067\u63a8\u79fb\u3057\u3066\u3044\u308b\u3002<\/p>\n<h2><span id=\"13\">\u65b0\u898f\u30af\u30b8\u30e9\u304c13\u5104\u30c9\u30eb\u8d85\u306e\u640d\u5931\u3092\u8a08\u4e0a<\/span><\/h2>\n<p>\u4eee\u60f3\u901a\u8ca8\u30c7\u30fc\u30bf\u5206\u6790\u4f01\u696d\u30af\u30ea\u30d7\u30c8\u30af\u30aa\u30f3\u30c8\u306e\u30a2\u30ca\u30ea\u30b9\u30c8\u3001\u30e2\u30ec\u30ceDV\u306f10\u65e5\u4ed8\u306e\u30ec\u30dd\u30fc\u30c8\u3067\u3001\u5927\u53e3\u6b8b\u9ad8\u3092\u6301\u3064\u77ed\u671f\u4fdd\u6709\u8005\u3001\u3044\u308f\u3086\u308b\u300c\u65b0\u898f\u30af\u30b8\u30e9\u300d\u304c\u6fc0\u3057\u3044\u5727\u529b\u306b\u3055\u3089\u3055\u308c\u3066\u3044\u308b\u3068\u6307\u6458\u3057\u305f\u3002<\/p>\n<p>\u4fa1\u683c\u304c\u5f7c\u3089\u306e\u5e73\u5747\u53d6\u5f97\u30b3\u30b9\u30c8\u3067\u3042\u308b11\u4e07\u30c9\u30eb\u3092\u4e0a\u56de\u308b\u6c34\u6e96\u3092\u7dad\u6301\u3067\u304d\u306a\u304b\u3063\u305f\u305f\u3081\u3060\u300211\u67084\u65e5\u304b\u30899\u65e5\u306b\u304b\u3051\u3066\u3001\u3053\u306e\u5c64\u306f13\u5104\u30c9\u30eb\uff08\u7d042002\u5104\u5186\uff09\u3092\u8d85\u3048\u308b\u640d\u5931\u3092\u8a08\u4e0a\u3057\u305f\u3002\u3053\u308c\u306f2025\u5e74\u3067\u6700\u3082\u7a4d\u6975\u7684\u306a\u58f2\u5374\u306e\u4e00\u3064\u3060\u3068\u3044\u3046\u3002<\/p>\n<p>\u30e2\u30ec\u30ceDV\u306f\u300c\u3053\u306e\u898f\u6a21\u306e\u640d\u5931\u304c\u7d9a\u304f\u3053\u3068\u306f\u3001\u5f37\u5236\u7684\u306a\u58f2\u5374\u3084\u30d1\u30cb\u30c3\u30af\u7684\u306a\u9000\u5834\u3092\u793a\u5506\u3057\u3066\u3044\u308b\u3002\u901a\u5e38\u3001\u30ec\u30d0\u30ec\u30c3\u30b8\u30dd\u30b8\u30b7\u30e7\u30f3\u306e\u89e3\u6d88\u3084\u3001\u9ad8\u5024\u3067\u53c2\u5165\u3057\u305f\u6295\u8cc7\u5bb6\u306e\u640d\u5931\u56de\u907f\u884c\u52d5\u304c\u8981\u56e0\u3068\u306a\u308b\u300d\u3068\u5206\u6790\u3057\u305f\u3002<\/p>\n<p>\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u306e\u5efa\u7389\u306f\u904e\u53bb7\u65e5\u9593\u306711.3%\u6e1b\u5c11\u3057\u3066\u304a\u308a\u3001\u5e02\u5834\u306e\u30ec\u30d0\u30ec\u30c3\u30b8\u304c\u5927\u5e45\u306b\u7e2e\u5c0f\u3057\u305f\u3053\u3068\u3092\u793a\u3057\u3066\u3044\u308b\u3002<\/p>\n<h2><span id=\"_\">\u9577\u671f\u4fdd\u6709\u8005\u306e\u84c4\u7a4d\u306f\u7d99\u7d9a<\/span><\/h2>\n<p>\u4e00\u65b9\u3067\u3001\u5e02\u5834\u306b\u306f\u69cb\u9020\u7684\u306a\u5909\u5316\u3082\u898b\u3089\u308c\u308b\u3002\u9577\u671f\u4fdd\u6709\u8005\u306b\u3088\u308b1\u65e5\u5e73\u5747\u306e\u84c4\u7a4d\u91cf\u306f\u30017\u6708\u4e0a\u65ec\u306e1\u4e072000BTC\u304b\u3089\u73fe\u57282\u4e076000BTC\u306b\u6025\u5897\u3057\u305f\u3002<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">A closer look at the monthly average spending by long-term holders reveals a clear trend: outflows have climbed from roughly 12.5k BTC\/day in early July to 26.5k BTC\/day today (30D-SMA). <br>This steady rise reflects increasing distribution pressure from older investor cohorts \u2014 a\u2026 <a href=\"https:\/\/t.co\/wECe58CV66\" target=\"_blank\" rel=\"noopener noreferrer\">pic.twitter.com\/wECe58CV66<\/a><\/p>\n<p>\u2014 glassnode (@glassnode) <a href=\"https:\/\/twitter.com\/glassnode\/status\/1989044345928921438?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener noreferrer\">November 13, 2025<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>\u30af\u30ed\u30ce\u30b9\u30fb\u30ea\u30b5\u30fc\u30c1\u306b\u3088\u308b\u3068\u3001\u3053\u306e\u4e00\u8cab\u3057\u305f\u5206\u6563\u30d1\u30bf\u30fc\u30f3\u306f\u3001\u5e02\u5834\u304c\u300c\u53e4\u53c2\u4fdd\u6709\u8005\u306e\u58f2\u5374\u300d\u30e2\u30fc\u30c9\u3067\u306f\u306a\u304f\u3001\u5468\u671f\u7684\u306a\u8cc7\u91d1\u306e\u6d41\u308c\u3092\u7d4c\u9a13\u3057\u3066\u3044\u308b\u3053\u3068\u3092\u793a\u3057\u3066\u3044\u308b\u3002<\/p>\n<p><a href=\"https:\/\/studio.glassnode.com\/charts\/breakdowns.SpentVolumeSumByAge?a=BTC&amp;c=native&amp;mAvg=30&amp;s=1643328000&amp;u=1762992000&amp;zoom=\" target=\"_blank\" rel=\"noopener nofollow noreferrer\">\u30b0\u30e9\u30b9\u30ce\u30fc\u30c9\u306e\u30a2\u30ca\u30ea\u30b9\u30c8<\/a>\u306f\u300c\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u306e\u30af\u30b8\u30e9\u306b\u3088\u308b\u58f2\u308a\u5727\u529b\u306f\u3001\u4eee\u60f3\u901a\u8ca8\u30b5\u30a4\u30af\u30eb\u5f8c\u671f\u306e\u5178\u578b\u7684\u306a\u52d5\u304d\u3067\u3042\u308a\u3001\u904e\u53bb\u3068\u6bd4\u3079\u3066\u61f8\u5ff5\u3059\u3079\u304d\u6c34\u6e96\u3067\u306f\u306a\u3044\u300d\u3068\u5f37\u8abf\u3057\u305f\u3002<\/p>\n<p>\u53e4\u53c2\u306e<a href=\"https:\/\/icobench.com\/jp\/cryptocurrency\/bitcoin-price-prediction\/\" rel=\"\">\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3<\/a>\u30af\u30b8\u30e9\u306f2025\u5e746\u6708\u4ee5\u964d\u3001100\u4e07BTC\u4ee5\u4e0a\u3092\u58f2\u5374\u3057\u305f\u304c\u3001\u4fa1\u683c\u306f\u904e\u53bb\u306e\u30b5\u30a4\u30af\u30eb\u3088\u308a\u3082\u5805\u8abf\u306b\u63a8\u79fb\u3057\u3066\u3044\u308b\u3002<\/p>\n<h2><span id=\"_-2\">\u6a5f\u95a2\u6295\u8cc7\u5bb6\u306e\u9700\u8981\u304c\u5e02\u5834\u3092\u4e0b\u652f\u3048<\/span><\/h2>\n<p>\u58f2\u308a\u5727\u529b\u306b\u3082\u304b\u304b\u308f\u3089\u305a\u3001\u6a5f\u95a2\u6295\u8cc7\u5bb6\u306e\u52d5\u5411\u304c\u5e02\u5834\u3092\u652f\u3048\u3066\u3044\u308b\u3002<\/p>\n<p>2025\u5e7410\u6708\u306e\u4e0a\u5834\u6295\u8cc7\u4fe1\u8a17\uff08ETF\uff09\u3078\u306e\u8cc7\u91d1\u6d41\u5165\u306f\u3001\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u306b\u3082\u304b\u304b\u308f\u3089\u305a\u5e95\u5805\u304f\u63a8\u79fb\u3057\u3066\u304a\u308a\u3001\u4f01\u696d\u3084\u6a5f\u95a2\u306e\u9700\u8981\u304c\u58f2\u308a\u5727\u529b\u306e\u4e00\u90e8\u3092\u5438\u53ce\u3057\u3066\u3044\u308b\u3053\u3068\u3092\u793a\u3057\u3066\u3044\u308b\u3002\u7279\u306b\u3001\u73fe\u7269\u306e<a href=\"https:\/\/icobench.com\/jp\/cryptocurrency\/what-is-bitcoin-etf\/\" rel=\"\">\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3etf<\/a>\u3078\u306e\u95a2\u5fc3\u304c\u9ad8\u307e\u3063\u3066\u3044\u308b\u3002<\/p>\n<p>BTC\u30de\u30fc\u30b1\u30c3\u30c4\u306e\u30c1\u30e3\u30fc\u30ea\u30fc\u30fb\u30b7\u30a7\u30ea\u30fc\u6c0f\u306f\u30014\u5e74\u30b5\u30a4\u30af\u30eb\u306e\u30d1\u30bf\u30fc\u30f3\u306b\u6ce8\u76ee\u3057\u3066\u3044\u308b\u3002<\/p>\n<p>\u6b74\u53f2\u7684\u306b\u5e02\u5834\u306e\u5929\u4e95\u306f2017\u5e74\u5f8c\u534a\u30012021\u5e74\u3001\u305d\u3057\u30662025\u5e7410\u6708\u306b\u767a\u751f\u3057\u3066\u3044\u308b\u3002<\/p>\n<p>\u540c\u6c0f\u306f\u4eca\u5f8c\u306e\u5c55\u958b\u3068\u3057\u3066\u30019\u4e073000\u30c9\u30eb\u304b\u308911\u4e077000\u30c9\u30eb\u306e\u30ec\u30f3\u30b8\u76f8\u5834\u30019\u4e073000\u30c9\u30eb\u3092\u4e0b\u56de\u308b\u4e0b\u843d\u300111\u4e077000\u30c9\u30eb\u3092\u4e0a\u56de\u308b\u56de\u5fa9\u306e3\u3064\u306e\u30b7\u30ca\u30ea\u30aa\u3092\u6319\u3052\u305f\u3002<\/p>\n<p>\u9577\u671f\u4fdd\u6709\u8005\u3084\u6a5f\u95a2\u6295\u8cc7\u5bb6\u306f\u3001\u4eca\u56de\u306e\u4e0b\u843d\u3092\u8cfc\u5165\u6a5f\u4f1a\u3068\u6349\u3048\u3066\u304a\u308a\u3001\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u306e\u4fa1\u5024\u4fdd\u5b58\u624b\u6bb5\u3068\u3057\u3066\u306e\u7279\u6027\u3068\u3001\u30b0\u30ed\u30fc\u30d0\u30eb\u91d1\u878d\u30b7\u30b9\u30c6\u30e0\u306b\u304a\u3051\u308b\u9032\u5316\u3059\u308b\u5f79\u5272\u3092\u91cd\u8996\u3057\u3066\u3044\u308b\u3002<\/p>\n<p>\u3053\u306e\u3088\u3046\u306a\u6226\u7565\u306f\u3001\u5c06\u6765\u7684\u306a\u4fa1\u683c\u4e0a\u6607\u3092\u898b\u8fbc\u3093\u3060<a href=\"https:\/\/icobench.com\/jp\/cryptocurrency\/long-term-crypto-investment\/\" rel=\"\">\u4eee\u60f3\u901a\u8ca8\u9577\u671f\u4fdd\u6709<\/a>\u306e\u4e00\u4f8b\u3068\u8a00\u3048\u308b\u3060\u308d\u3046\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u306e\u30af\u30b8\u30e9\u306b\u3088\u308b\u58f2\u308a\u5727\u529b\u306f\u3001\u4eee\u60f3\u901a\u8ca8\u30b5\u30a4\u30af\u30eb\u5f8c\u671f\u306e\u5178\u578b\u7684\u306a\u52d5\u304d\u3067\u3042\u308a\u3001\u904e\u53bb\u3068\u6bd4\u3079\u3066\u61f8\u5ff5\u3059\u3079\u304d\u6c34\u6e96\u3067\u306f\u306a\u3044\u3068\u30b0\u30e9\u30b9\u30ce\u30fc\u30c9\u306e\u30a2\u30ca\u30ea\u30b9\u30c8\u304c\u6307\u6458\u3057\u305f\u3002<\/p>\n","protected":false},"author":115,"featured_media":24855,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[4],"tags":[],"class_list":["post-24854","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","entry"],"acf":[],"yoast_head":"<!-- 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