<p>A cikin duniya mai ci gaba na cryptocurrency, Bitcoin yana nan a matsayin sarkin da ba a iya tantancewa. Amma a ƙarƙashin fuskar jadawalin farashi da hayaniyar kasuwa akwai tarin bayanai da ke jiran a bude&mdash;nazarin kan-chain. Wannan kayan aiki mai ƙarfi yana ba mu damar duba kai tsaye cikin blockchain, yana bayyana halayen da niyyar manyan 'yan wasa, musamman waɗanda aka ce suna "whales." Wadannan</p>

many holders na Bitcoin na iya shafar kasuwa da mu'amala guda, kuma fahimtar abin da ayyukansu ke nuni da shi na iya zama bambanci tsakanin hawa cikin kasuwa ko samun matsala a lokacin faduwa.</p> <p>Yayin da muke shiga shekarar 2025, tare da Bitcoin yana yawo a kusa da $112,000 a cikin motsi masu canzawa, rawar da manyan masu hannun jari ke takawa ba ta taba zama mai mahimmanci ba. A Exbix, kasuwar mu ta cryptocurrency, muna ba 'yan kasuwa damar su ba

ka yi amsa ga waɗannan motsi amma ka yi ƙoƙarin hango su. Ko kuna son&nbsp;<a href="https://exbix.com/exchange/dashboard?coin_pair=BTC_USDT" target="_blank" rel="noreferrer noopener">sayar da BTC/USDT a kan dashboard ɗinmu mai sauƙin amfani</a>&nbsp;ko&nbsp;<a href="https://exbix.com/staking" target="_blank" rel="noreferrer noopener">bincika zaɓuɓɓukan staking</a>&nbsp;don haɓaka kadarorin ku

a hankali, fahimtar ma'aunin kan-chain yana da mahimmanci. A cikin wannan jagorar mai zurfi, za mu bincika abin da nazarin kan-chain ke kunshe da shi, wanene manyan 'yan kasuwa, muhimman alamomin da suke shafar, tarihin alamu, halayen yanzu a watan Agusta 2025, da yadda za ka iya amfani da wannan ilimin a dandamali kamar&nbsp;<a href="https://exbix.com/" target="_blank" rel="noreferrer noopener">Exbix</a>.</p> <h2

class="wp-block-heading">Menene Binciken Kan-Zaure?</h2> <p>Binciken kan-zaure a zahiri shine nazarin bayanan da aka rubuta kai tsaye a kan blockchain. Saboda bambancin kasuwannin kudi na gargajiya inda yawancin ayyuka ke faruwa a wajen rajista, halin bayyana na Bitcoin yana nufin kowanne mu'amala, ma'aunin walat, da canja wuri ana iya tantance su a fili. Wannan bayanin yana bayar da haske kan bukata da bayarwa

dynamics, jin dadin masu zuba jari, da yiwuwar motsin farashi ba tare da dogaro da labarai na hasashe ko zane-zanen fasaha kawai ba.</p> <p>Ka yi tunani a matsayin binciken kudi na crypto. Kayan aiki kamar Glassnode, CryptoQuant, da IntoTheBlock suna tattara wannan bayanin cikin ma'auni da ke bayyana tsari. Misali, bin diddigin adadin adireshin masu aiki ko yawan mu'amaloli na iya nuna karuwar karɓa ko

sayar da za a sayar. A cikin 2025, tare da shiga hukumomi a matakin tarihi&mdash;godiyar ga ETFs da bayyana dokoki&mdash;bayanan kan hanyar sun zama masu inganci sosai, suna haɗa hasashen da aka jagoranta da AI da faɗakarwa na ainihi.</p> <p>Me yasa wannan ke da muhimmanci ga Bitcoin musamman? Blockchain na Bitcoin shine mafi tsoho kuma an duba shi sosai, yana mai da shi zinariya ga masu nazari. Metrics

kamar yadda aka gane darajar, rabo na fitar da kudin da aka kashe (SOPR), da kuma tsawon lokacin da aka riƙe ƙwayar suna taimakawa wajen tantance ko masu riƙe suna samun riba ko suna jiran karin riba. Amma taurarin gaske na wannan shahararren suna ne whales&mdash;wadannan abubuwan ban mamaki da ke iya canza al'amura.</p> <h2 class="wp-block-heading">Su waye Bitcoin Whales?</h2> <p>Bitcoin whales mutane ne ko hukumomi da ke riƙe da manyan adadin BTC, yawanci

1,000 BTC ko fiye da haka (wanda ya kai fiye da $112 miliyan a farashin yanzu). Zai yiwu su kasance masu amfani da farko, masu zuba jari na hukumomi kamar MicroStrategy, ko ma gwamnatoci suna tara ajiyar a hankali. A shekarar 2025, mun ga canji: manyan masu zuba jari yanzu sun haɗa da masu samar da ETF da hedji, suna ƙara matakai na rikitarwa ga halayensu.</p> <p>Manyan masu zuba jari ba kawai masu adanawa bane; suna da dabaru a cikin wasa. Su ne

transactions&mdash;yawanci a cikin dari na miliyoyin&mdash;na iya haifar da tasiri a kan kasuwanni. Misali, wani whale da ke ajiye manyan kudi a wani kasuwa na iya nuna niyyar sayarwa, yana ƙara samarwa da kuma yiwuwar rage farashi. A gefe guda, janye zuwa ajiyar sanyi yana nuna riƙon dogon lokaci, yana rage samuwar kayayyaki da kuma tallafawa matsin lamba na sama.</p> <p> A kan dandamali kamar Exbix,

kulawa ayyukan whale na iya ba da bayani ga yanke shawarar kasuwancinku. Idan kuna ganin yiwuwar fitar da whale, kuna iya kare kanku ta hanyar&nbsp;<a href="https://exbix.com/exchange/dashboard?coin_pair=BTC_USDT" target="_blank" rel="noreferrer noopener">kasuwanci da BTC/USDT</a>. Ko kuma, idan tarin yana bayyana, kuyi la'akari da&nbsp;<a href="https://exbix.com/staking" target="_blank" rel="noreferrer

noopener">saka dukiyoyin da suka shafi BTC</a>&nbsp;don samun riba mai dorewa yayin da muke jiran bull ya tashi.</p> <h2 class="wp-block-heading">Muhimman Ma'auni na Kan-Tsarin don Bibiyar Whales</h2> <p>Don fassara abin da whales ke nufi, muna dogara da wasu muhimman ma'auni. Bari mu raba su, tare da aikace-aikace na duniya a shekarar 2025.</p> <h3 class="wp-block-heading">1. Adadin Walat Whales da Tara

Trends</h3> <p>Wani muhimmin ma'auni shine yawan adireshin da ke riƙe da BTC 1,000 ko fiye. A Q1 2025, wannan rukuni ya karu da kashi 5%, yana nuna tabbaci a cikin rashin tabbas. Kayan aiki kamar CryptoQuant suna bibiyar “tarin whale,” inda karuwar waɗannan walat ɗin yawanci ke farawa kafin tashin hankali. Misali, idan adireshin whale sun tashi yayin da farashi ke raguwa, yana nuna cewa suna sayen ƙasa—wannan yana nufin alamar haɓaka.

sign.</p> <p>A watan Agusta na 2025, bayanan kan-chain suna nuna cewa manyan 'yan kasuwa suna tara dukiya duk da faduwar Bitcoin ƙasa da $111,000, tare da wani kamfani da ya ƙara 455 BTC wanda ya kai $50.75 miliyan cikin awanni 20 kacal. Wannan yana bambanta da masu sayarwa na kasuwa, yana haifar da yanayin rarrabawa inda manyan 'yan wasa ke tara kuɗaɗe daga hannayen ƙanana.</p> <h3 class="wp-block-heading">2. Shigar da Fita daga Musanya</h3> <p>Manyan shigarwa zuwa

musayar da Binance ko Exbix na nuna niyyar sayarwa, yayin da manyan masu zuba jari ke shirin sayar da hannun jari. Duk da haka, fitarwa na nuna HODLing. A watan Yuli 2025, fitarwa daga walat ɗin zafi (misali, Revolut, Bybit) zuwa ajiyar sanyi sun kai matakan tarihi, tare da manyan masu zuba jari suna tara hannun jari da karfi. Wannan ya rage yawan hannun jari da ke yawo, yana taimakawa BTC ya tashi daga ƙananan $103,000.</p> <p>A Exbix, za ka iya sa ido kan irin wannan fitarwa ta hanyar mu

dashboard. Idan shigarwa ta tashi, yana iya zama lokaci don&nbsp;<a href="https://exbix.com/staking" target="_blank" rel="noreferrer noopener">tsare matsayinka ta hanyar staking</a>&nbsp;don guje wa canje-canje na gajeren lokaci.</p> <h3 class="wp-block-heading">3. Yawan Ma'amala da Girma</h3> <p>Ma'amaloli masu daraja (fiye da $10 miliyan) suna nuna alamar manyan 'yan kasuwa. A cikin 2025, an ga karuwar matsakaicin girman umarni, wanda ke nuni da

hawanin kifi sun karu. Lokacin da waɗannan suka taru a cikin ƙananan farashi, yana nuna tarin kaya; a cikin manyan farashi, rarrabawa.</p> <p>Sabbin bayanai daga Santiment suna nuna hawanin kifi suna "farka" yayin da BTC ya kai manyan tarihi, tare da manyan motsi suna nuna wani nau'in hauhawar farashi. Ga 'yan kasuwa a&nbsp;<a href="https://exbix.com/" target="_blank" rel="noreferrer noopener">Exbix</a>, ganowa

wadannan ta hanyar haɗin gwiwar nazari na iya jagorantar shigarwa akan&nbsp;<a href="https://exbix.com/exchange/dashboard?coin_pair=BTC_USDT" target="_blank" rel="noreferrer noopener">BTC/USDT</a>.</p> <h3 class="wp-block-heading">4. Riba/Asarar da aka Gane da SOPR</h3> <p>Rabon Riba na Fitar da Kudi (SOPR) yana auna ko ana sayar da kuɗaɗen a riba (sama da 1) ko asara (kasa da 1). Manyan masu saka jari suna tura SOPR sama da 1 a lokacin tashi.

sau da alamar saman, yayin da suke karɓar riba. A farkon 2025, SOPR ya kusanci 1 ga manyan masu saka jari a lokacin kololuwa na $124,200, wanda ya biyo bayan gyara.</p> <h3 class="wp-block-heading">5. HODL Waves da Tsawon Lokacin Kuɗi</h3> <p>HODL waves suna nuna tsawon lokacin da kuɗi suka kasance a cikin shakatawa. Kuɗin da suka tsufa (an riƙe &gt;1 shekara) suna nuna ƙarfi a cikin imani. A 2025, masu riƙe na dogon lokaci (LTHs) suna ci gaba da kasancewa da kwarin gwiwa a $110K+, tare da ma'aunin haɗarin ajiyar kuɗi

nuna mai kyau na hadarin lada. Idan manyan 'yan kasuwa suka fara motsa tsofaffin kuɗi, hakan na iya nuna canji.</p> <p>Ƙarin ma'auni kamar min_retweets ko min_faves daga nazarin zamantakewa suna da alaƙa, amma kan-chain yana ci gaba da zama na farko.</p> <h2 class="wp-block-heading">Tarihin Alamu: Darussa daga Tsoffin Motsin Manyan 'Yan Kasuwa</h2> <p>Tarihi cike yake da abubuwan da 'yan kasuwa suka jagoranta. A cikin tashi na kasuwa na 2017, manyan 'yan kasuwa sun tara ƙasa

$10,000, sannan an rarraba a lokacin manyan tashin hankali, wanda ya kara tsananta faduwar. A tura zuwa 2021: sayan Tesla na $1.5 biliyan (motsi na whale) ya haifar da tashin hankali, amma sayar da kayayyaki daga baya ya taimaka wajen haifar da kasuwar bear.</p> <p>A cikin 2024-2025, manyan masu saka jari kamar ETF na BlackRock sun mamaye kasuwa. Q1 2025 ya ga tarihin kololuwa da canje-canje, tare da whales suna tafiyar da sabbin dokoki. Misali mai ban sha'awa: A cikin

Maris 2025, wani whale ya sayar da 300.9 BTC don samun riba ta $24.82 miliyan, wanda ya haifar da raguwar farashi na ɗan lokaci.</p> <p>Wannan tsarin yana koya mana cewa whales yawanci suna aiki a matsayin masu akasin ra'ayi—sayi lokacin tsoro, sayar lokacin son zuciya. A Exbix, amfani da wannan yana nufin amfani da kayan aikinmu don&nbsp;<a href="https://exbix.com/exchange/dashboard?coin_pair=BTC_USDT" target="_blank" rel="noreferrer noopener">sayarwa a cikin waɗannan lokutan</a>.</p> <h2

class="wp-block-heading">Sabbin Yanayi a 2025: Me Ya Ke Nunawa Game da Kifi?</h2> <p>Yanzu haka, a ranar 26 ga Agusta, 2025, Bitcoin yana sayar da ~$112,000, daga kololuwar $124,200. Bayanan kan hanyar suna nuna hoton mai rikitarwa: Kowane rukuni, ciki har da manyan kifaye, suna sayarwa, tare da adadin yana kusa da 1. Duk da haka, tara yana ci gaba&mdash;misali, kifin bc1qgf yana ƙara 455 BTC.</p> <p>Babban canji: Kifaye suna juyawa daga BTC zuwa

ETH, yana hanzarta motsin ETH yayin da take matsa lamba kan BTC. ETFs na Ethereum da kwararar altcoin (DePIN, tokenization) suna jan jarin, tare da LINK a ƙarƙashin kulawar manyan masu saka jari. Yanayin yana da taka tsantsan—Tsoro &amp; Jin Dadi a 47—amma shiru daga manyan masu saka jari na kan layi yana nuna alamun faduwa. </p> <p>Masu saye suna sayarwa, manyan masu saka jari suna sayen: Masu riƙe matsakaici da manyan masu riƙe suna tara a kusan ~0.85-0.9 ƙarfin. Wannan

redistribution echoes 2021, yana yiwuwa ta saita don peak na 2026.</p> <p>Abubuwan macro suna taka rawa: Dokokin haraji da barazanar quantum suna ƙara haɗari. Ga masu amfani da Exbix, wannan yana nufin bambance-bambancen&mdash;<a href="https://exbix.com/staking" target="_blank" rel="noreferrer noopener">stake ETH ko alts</a>&nbsp; yayin da ake kula da BTC.</p> <h2 class="wp-block-heading">Hankali na Ci gaba: Tasirin Guda Biyu na Kan Chain da

Off-Chain Factors</h2> <p>Wani bincike a shekarar 2025 ya nuna yadda abubuwan da ke cikin tsarin (walat ɗin da ke aiki, kuɗaɗen shiga) da waɗanda ba su cikin tsarin (liquidity, ra'ayi) ke haɗuwa. Manyan masu hannun jari suna ƙara wannan: Sayarwar su na iya haifar da rushewar leverage, kamar yadda aka gani a watan Afrilu na 2025 tare da matsayin ETH na $106M.</p> <p>Samfuran AI na Token Metrics suna haɗa aikin manyan masu hannun jari don hasashen, suna hasashen yanayin shekaru masu yawa. Alamu na musamman kamar

data na asali blockchain suna ba da fa'ida.</p> <h2 class="wp-block-heading">Kayan Aiki don Binciken Kan-Tsarin a 2025</h2> <p>Ka karfafa kanka da:</p> <ul class="wp-block-list"> <li><strong>CryptoQuant</strong>: Bayanan da za a iya amfani da su akan kwararan kwastomomi.</li> <li><strong>Glassnode</strong>: Bincike mai zurfi cikin yanayin hukumomi.</li> <li><strong>Santiment</strong>: Hanyoyin zamantakewa da na kan-tsari.</li> </ul> <p>Kan

Exbix, madadinmu na nazarin haɗa waɗannan, yana taimaka maka&nbsp;<a href="https://exbix.com/exchange/dashboard?coin_pair=BTC_USDT" target="_blank" rel="noreferrer noopener">saya da tabbacin da aka gina bisa bayanai</a>.</p> <h2 class="wp-block-heading">Hadari da Abubuwan La'akari</h2> <p>Manyan 'yan kasuwa na iya sarrafa ta hanyar derivatives ko dabarun manufofi. Koyaushe yi bincike na kanka&mdash;kan-chain ba shi da kuskure. A cikin yanayi na raguwa

yanayi, kamar yiwuwar raguwa $102K,&nbsp;<a href="https://exbix.com/staking" target="_blank" rel="noreferrer noopener">staking a Exbix</a>&nbsp;na bayar da kwanciyar hankali.</p> <h2 class="wp-block-heading">Duba Nan Gaba: Shin Zai Yiwu Whales Su Taimaka Wa Juyin Hali Na Gaba?</h2> <p>Hasashen na nuna peak a 2025-2026, tare da whales a matsayin muhimmin abu. Idan tara ta ci gaba, BTC na iya gwada $150K. Amma juyawa zuwa ETH na nuna

diversification.</p> <h2 class="wp-block-heading">Kammalawa</h2> <p>Analiz na kan layi yana bayyana manyan 'yan kasuwa, yana mai da shawarwarinsu zuwa dabaru masu amfani. A Exbix, muna da niyyar samar da kayan aikin&mdash; daga&nbsp;<a href="https://exbix.com/exchange/dashboard?coin_pair=BTC_USDT" target="_blank" rel="noreferrer noopener">manyan dashboards na ciniki</a>&nbsp;zuwa&nbsp;<a

href="https://exbix.com/staking" target="_blank" rel="noreferrer noopener">tsaro mai kyau</a>&mdash;don taimaka maka wajen gudanar da wannan. Shiga a&nbsp;<a href="https://exbix.com/" target="_blank" rel="noreferrer noopener">Exbix.com</a> ka kasance a gaba daga manyan masu zuba jari.

Hankalin Hanyoyin Kifi

Nazarin Kan On-Chain na Bitcoin: Mece Ce Alamar Da Whales Ke Nuna?