{"id":1637,"date":"2025-08-15T14:39:29","date_gmt":"2025-08-15T06:39:29","guid":{"rendered":"http:\/\/www.design-suit.com\/?p=1637"},"modified":"2025-08-15T14:39:29","modified_gmt":"2025-08-15T06:39:29","slug":"%e6%af%94%e7%89%b9%e5%b8%81%e5%87%8f%e5%8d%8a%e4%b8%80%e5%b9%b4%e5%90%8e%ef%bc%9a%e4%b8%ba%e4%bb%80%e4%b9%88%e8%bf%99%e4%b8%aa%e5%91%a8%e6%9c%9f%e7%9c%8b%e8%b5%b7%e6%9d%a5%e9%9d%9e%e5%b8%b8%e4%b8%8d","status":"publish","type":"post","link":"http:\/\/www.wancg.com\/?p=1637","title":{"rendered":"\u6bd4\u7279\u5e01\u51cf\u534a\u4e00\u5e74\u540e\uff1a\u4e3a\u4ec0\u4e48\u8fd9\u4e2a\u5468\u671f\u770b\u8d77\u6765\u975e\u5e38\u4e0d\u540c\uff1f | PANews"},"content":{"rendered":"

\u4f5c\u8005\uff1abeincrypto<\/p>\n

\u7f16\u8bd1\uff1a\u533a\u5757\u94fe\u9a91\u58eb<\/p>\n

BTC \u8ddd\u79bb\u5176\u6700\u8fd1\u4e00\u6b21\u51cf\u534a\u5df2\u7ecf\u8fc7\u53bb\u4e00\u5e74\u4e86\uff0c\u800c\u672c\u8f6e\u5468\u671f\u6b63\u5448\u73b0\u51fa\u4e0e\u4ee5\u5f80\u622a\u7136\u4e0d\u540c\u7684\u6001\u52bf\u3002\u4e0e\u4ee5\u5f80\u51cf\u534a\u540e\u51fa\u73b0\u7206\u70b8\u6027\u4e0a\u6da8\u7684\u5468\u671f\u4e0d\u540c\uff0cBTC \u672c\u8f6e\u6da8\u5e45\u8f83\u4e3a\u6e29\u548c\uff0c\u4ec5\u4e0a\u6da8\u4e86 31%\uff0c\u800c\u4e0a\u4e00\u5468\u671f\u5728\u540c\u4e00\u65f6\u95f4\u6bb5\u5185\u6da8\u5e45\u9ad8\u8fbe 436%\u3002<\/p>\n

\u4e0e\u6b64\u540c\u65f6\uff0c\u957f\u671f\u6301\u6709\u8005\u6307\u6807\uff08\u5982 MVRV \u6bd4\u7387\uff09\u663e\u793a\u672a\u5b9e\u73b0\u5229\u6da6\u6025\u5267\u4e0b\u964d\uff0c\u8868\u660e\u5e02\u573a\u6b63\u5728\u6210\u719f\uff0c\u4e0a\u884c\u7a7a\u95f4\u53d7\u5230\u538b\u7f29\u3002\u7efc\u5408\u6765\u770b\uff0c\u8fd9\u4e9b\u53d8\u5316\u8868\u660e BTC \u53ef\u80fd\u6b63\u5728\u8fdb\u5165\u4e00\u4e2a\u65b0\u65f6\u4ee3\uff0c\u5176\u7279\u70b9\u4e0d\u518d\u662f\u629b\u7269\u7ebf\u5f0f\u7684\u5cf0\u503c\uff0c\u800c\u662f\u66f4\u591a\u5730\u7531\u673a\u6784\u63a8\u52a8\u7684\u6e10\u8fdb\u5f0f\u589e\u957f\u3002<\/p>\n

BTC \u51cf\u534a\u4e00\u5e74\u540e\uff1a\u4e00\u4e2a\u4e0e\u4f17\u4e0d\u540c\u7684\u5468\u671f<\/h3>\n

\u672c\u8f6e BTC \u5468\u671f\u7684\u53d1\u5c55\u4e0e\u4ee5\u5f80\u5468\u671f\u660e\u663e\u4e0d\u540c\uff0c\u8fd9\u53ef\u80fd\u9884\u793a\u7740\u5e02\u573a\u5bf9\u51cf\u534a\u4e8b\u4ef6\u7684\u53cd\u5e94\u65b9\u5f0f\u6b63\u5728\u53d1\u751f\u8f6c\u53d8\u3002<\/p>\n

\u5728\u65e9\u671f\u5468\u671f\uff08\u5c24\u5176\u662f\u4ece 2012 \u5e74\u5230 2016 \u5e74\uff0c\u4ee5\u53ca\u4ece 2016 \u5e74\u5230 2020 \u5e74\uff09\uff0cBTC \u5f80\u5f80\u4f1a\u5728\u8fd9\u4e00\u9636\u6bb5\u51fa\u73b0\u5f3a\u52b2\u4e0a\u6da8\u3002\u51cf\u534a\u540e\u7684\u65f6\u671f\u901a\u5e38\u4f34\u968f\u7740\u5f3a\u70c8\u7684\u4e0a\u884c\u52bf\u5934\u548c\u629b\u7269\u7ebf\u5f0f\u7684\u4ef7\u683c\u8d70\u52bf\uff0c\u8fd9\u4e3b\u8981\u5f97\u76ca\u4e8e\u6563\u6237\u7684\u70ed\u60c5\u548c\u6295\u673a\u9700\u6c42\u3002<\/p>\n

\u7136\u800c\uff0c\u5f53\u524d\u5468\u671f\u5374\u8d70\u4e0a\u4e86\u4e0d\u540c\u7684\u9053\u8def\u3002\u4ef7\u683c\u5e76\u6ca1\u6709\u5728\u51cf\u534a\u540e\u52a0\u901f\u4e0a\u6da8\uff0c\u800c\u662f\u65e9\u5728 2024 \u5e74 10 \u6708\u548c 12 \u6708\u5c31\u63d0\u524d\u5f00\u59cb\u98d9\u5347\uff0c\u968f\u540e\u5728 2025 \u5e74 1 \u6708\u51fa\u73b0\u76d8\u6574\uff0c\u5e76 2 \u6708\u4e0b\u65ec\u51fa\u73b0\u56de\u8c03\u3002<\/p>\n

\u8fd9\u79cd\u524d\u671f\u4e0a\u6da8\u7684\u884c\u4e3a\u4e0e\u5386\u53f2\u6a21\u5f0f\u622a\u7136\u4e0d\u540c\uff0c\u5728\u4ee5\u5f80\u7684\u6a21\u5f0f\u4e2d\uff0c\u51cf\u534a\u901a\u5e38\u5145\u5f53\u5927\u5e45\u4e0a\u6da8\u7684\u50ac\u5316\u5242\u3002<\/p>\n

\u9020\u6210\u8fd9\u4e00\u8f6c\u53d8\u7684\u56e0\u7d20\u6709\u591a\u79cd\u3002BTC \u4e0d\u518d\u4ec5\u4ec5\u662f\u4e00\u79cd\u7531\u6563\u6237\u9a71\u52a8\u7684\u6295\u673a\u8d44\u4ea7\uff0c\u5b83\u6b63\u65e5\u76ca\u88ab\u89c6\u4e3a\u4e00\u79cd\u6210\u719f\u7684\u91d1\u878d\u5de5\u5177\u3002\u673a\u6784\u6295\u8d44\u8005\u7684\u53c2\u4e0e\u5ea6\u4e0d\u65ad\u63d0\u9ad8\uff0c\u52a0\u4e0a\u5b8f\u89c2\u7ecf\u6d4e\u538b\u529b\u548c\u5e02\u573a\u7ed3\u6784\u53d8\u5316\uff0c\u5bfc\u81f4\u5e02\u573a\u53cd\u5e94\u66f4\u52a0\u5ba1\u614e\u548c\u590d\u6742\u3002<\/p>\n

\"\u6bd4\u7279\u5e01\u51cf\u534a\u4e00\u5e74\u540e\uff1a\u4e3a\u4ec0\u4e48\u8fd9\u4e2a\u5468\u671f\u770b\u8d77\u6765\u975e\u5e38\u4e0d\u540c\uff1f\"<\/p>\n

BTC \u5468\u671f\u6bd4\u8f83\u3002\u8d44\u6599\u6765\u6e90\uff1aBitcoin Cycles Comparison<\/pre>\n
\u8fd9\u79cd\u6f14\u53d8\u7684\u53e6\u4e00\u4e2a\u660e\u663e\u8ff9\u8c61\u662f\u6bcf\u4e2a\u5468\u671f\u7684\u5f3a\u5ea6\u90fd\u5728\u51cf\u5f31\u3002\u968f\u7740 BTC \u5e02\u503c\u7684\u589e\u957f\uff0c\u65e9\u5e74\u90a3\u79cd\u7206\u53d1\u5f0f\u6da8\u5e45\u8d8a\u6765\u8d8a\u96be\u4ee5\u590d\u5236\u3002\u4f8b\u5982\uff0c\u5728 2020 \u5e74\u81f3 2024 \u5e74\u7684\u5468\u671f\u4e2d\uff0cBTC \u5728\u51cf\u534a\u4e00\u5e74\u540e\u4e0a\u6da8\u4e86 436%\u3002<\/p>\n
\u76f8\u6bd4\u4e4b\u4e0b\uff0c\u672c\u5468\u671f\u5728\u540c\u4e00\u65f6\u95f4\u6bb5\u5185\u7684\u6da8\u5e45\u4ec5\u4e3a 31%\uff0c\u8981\u6e29\u548c\u5f97\u591a\u3002<\/p>\n
\u8fd9\u4e00\u8f6c\u53d8\u53ef\u80fd\u610f\u5473\u7740 BTC \u6b63\u5728\u8fdb\u5165\u4e00\u4e2a\u65b0\u7bc7\u7ae0\uff0c\u5176\u7279\u70b9\u662f\u6ce2\u52a8\u6027\u964d\u4f4e\uff0c\u957f\u671f\u589e\u957f\u66f4\u52a0\u7a33\u5b9a\u3002\u51cf\u534a\u53ef\u80fd\u4e0d\u518d\u662f\u4e3b\u8981\u9a71\u52a8\u529b\uff0c\u5229\u7387\u3001\u6d41\u52a8\u6027\u548c\u673a\u6784\u8d44\u91d1\u7b49\u5176\u4ed6\u56e0\u7d20\u6b63\u5728\u53d1\u6325\u66f4\u5927\u4f5c\u7528\u3002<\/p>\n
\u6e38\u620f\u89c4\u5219\u6b63\u5728\u6539\u53d8\uff0cBTC \u7684\u8d70\u52bf\u4e5f\u5728\u6539\u53d8\u3002<\/p>\n
\u5c3d\u7ba1\u5982\u6b64\uff0c\u503c\u5f97\u6ce8\u610f\u7684\u662f\uff0c\u4ee5\u5f80\u7684\u5468\u671f\u5728\u6062\u590d\u4e0a\u5347\u8d8b\u52bf\u4e4b\u524d\uff0c\u4e5f\u90fd\u6709\u8fc7\u76d8\u6574\u548c\u56de\u8c03\u7684\u9636\u6bb5\u3002\u867d\u7136\u8fd9\u4e2a\u9636\u6bb5\u53ef\u80fd\u611f\u89c9\u8f83\u4e3a\u7f13\u6162\u6216\u7f3a\u4e4f\u523a\u6fc0\uff0c\u4f46\u5b83\u4ecd\u53ef\u80fd\u4ee3\u8868\u5728\u4e0b\u4e00\u8f6e\u4e0a\u6da8\u4e4b\u524d\u7684\u5065\u5eb7\u8c03\u6574\u3002<\/p>\n
\u4e5f\u5c31\u662f\u8bf4\uff0c\u672c\u8f6e\u5468\u671f\u4ecd\u6709\u53ef\u80fd\u7ee7\u7eed\u504f\u79bb\u5386\u53f2\u6a21\u5f0f\u3002\u5b83\u53ef\u80fd\u4e0d\u4f1a\u51fa\u73b0\u620f\u5267\u6027\u7684\u9876\u90e8\u6ce1\u6cab\u7834\u88c2\uff0c\u800c\u662f\u5448\u73b0\u51fa\u4e00\u4e2a\u66f4\u6301\u4e45\u3001\u7ed3\u6784\u66f4\u7a33\u56fa\u7684\u4e0a\u6da8\u8d8b\u52bf\uff0c\u8fd9\u79cd\u8d8b\u52bf\u66f4\u591a\u5730\u7531\u57fa\u672c\u9762\u9a71\u52a8\uff0c\u800c\u975e\u7092\u4f5c\u3002<\/p>\n
\u957f\u671f\u6301\u6709\u8005 MVRV \u6bd4\u7387\u63ed\u793a\u4e86 BTC \u6210\u719f\u5e02\u573a<\/h3>\n
\u957f\u671f\u6301\u6709\u8005\uff08LTH\uff09\u7684\u5e02\u503c\u4e0e MVRV \u6bd4\u7387\u4e00\u76f4\u662f\u8861\u91cf\u672a\u5b9e\u73b0\u5229\u6da6\u7684\u53ef\u9760\u6307\u6807\u3002\u5b83\u663e\u793a\u4e86\u957f\u671f\u6295\u8d44\u8005\u5728\u5f00\u59cb\u629b\u552e\u4e4b\u524d\u6240\u83b7\u5f97\u7684\u5229\u6da6\u3002\u4f46\u968f\u7740\u65f6\u95f4\u7684\u63a8\u79fb\uff0c\u8fd9\u4e00\u6570\u503c\u6b63\u5728\u4e0b\u964d\u3002<\/p>\n
\u5728 2016 \u5e74\u81f3 2020 \u5e74\u7684\u5468\u671f\u4e2d\uff0cLTH MVRV \u6bd4\u7387\u5cf0\u503c\u8fbe\u5230 35.8\uff0c\u8fd9\u8868\u660e\u4e86\u5de8\u5927\u7684\u8d26\u9762\u5229\u6da6\u548c\u4e00\u4e2a\u660e\u663e\u7684\u9876\u90e8\u6b63\u5728\u5f62\u6210\u3002\u5230\u4e86 2020 \u5e74\u81f3 2024 \u5e74\u7684\u5468\u671f\uff0c\u8fd9\u4e00\u5cf0\u503c\u6025\u5267\u4e0b\u964d\u81f3 12.2\uff0c\u5c3d\u7ba1\u5f53\u65f6 BTC \u4ef7\u683c\u521b\u4e0b\u4e86\u5386\u53f2\u65b0\u9ad8\u3002<\/p>\n
\u5728\u672c\u5468\u671f\u4e2d\uff0c\u8fc4\u4eca\u4e3a\u6b62 LTH MVRV \u6bd4\u7387\u7684\u6700\u9ad8\u503c\u4ec5\u4e3a 4.35\uff0c\u964d\u5e45\u5de8\u5927\u3002\u8fd9\u8868\u660e\u957f\u671f\u6301\u6709\u8005\u6240\u83b7\u5f97\u7684\u6536\u76ca\u8fdc\u4f4e\u4e8e\u4ee5\u5f80\u5468\u671f\uff0c\u5c3d\u7ba1 BTC \u4ef7\u683c\u51fa\u73b0\u4e86\u5927\u5e45\u4e0a\u6da8\u3002\u8fd9\u4e00\u8d8b\u52bf\u5f88\u660e\u663e\uff1a\u6bcf\u4e2a\u5468\u671f\u7684\u6536\u76ca\u500d\u6570\u90fd\u5728\u4e0b\u964d\u3002<\/p>\n
BTC \u7684\u7206\u70b8\u6027\u4e0a\u884c\u7a7a\u95f4\u6b63\u5728\u53d7\u5230\u538b\u7f29\uff0c\u5e02\u573a\u6b63\u5728\u6210\u719f\u3002<\/p>\n
\u73b0\u5728\uff0c\u5728\u672c\u5468\u671f\u4e2d\uff0c\u8fc4\u4eca\u4e3a\u6b62 LTH MVRV \u6bd4\u7387\u7684\u6700\u9ad8\u8bfb\u6570\u4e3a 4.35\u3002\u8fd9\u4e00\u663e\u8457\u4e0b\u964d\u8868\u660e\uff0c\u4e0e\u4ee5\u5f80\u5468\u671f\u76f8\u6bd4\uff0c\u957f\u671f\u6301\u6709\u8005\u6240\u83b7\u5f97\u7684\u6536\u76ca\u500d\u6570\u8981\u4f4e\u5f97\u591a\uff0c\u5373\u4f7f BTC \u4ef7\u683c\u51fa\u73b0\u4e86\u5927\u5e45\u4e0a\u6da8\u3002\u8fd9\u4e00\u6a21\u5f0f\u6307\u5411\u4e00\u4e2a\u7ed3\u8bba\uff1aBTC \u7684\u4e0a\u884c\u7a7a\u95f4\u6b63\u5728\u53d7\u5230\u538b\u7f29\u3002<\/p>\n
\"\u6bd4\u7279\u5e01\u51cf\u534a\u4e00\u5e74\u540e\uff1a\u4e3a\u4ec0\u4e48\u8fd9\u4e2a\u5468\u671f\u770b\u8d77\u6765\u975e\u5e38\u4e0d\u540c\uff1f\"<\/p>\n
BTC \u957f\u671f\u6301\u6709\u8005 MVRV\u3002\u8d44\u6599\u6765\u6e90\uff1aGlassnode<\/pre>\n
\u8fd9\u5e76\u975e\u5076\u7136\u73b0\u8c61\u3002\u968f\u7740\u5e02\u573a\u6210\u719f\uff0c\u7206\u70b8\u6027\u6536\u76ca\u81ea\u7136\u66f4\u96be\u83b7\u5f97\u3002\u6781\u7aef\u3001\u5468\u671f\u9a71\u52a8\u7684\u5229\u6da6\u500d\u6570\u65f6\u4ee3\u53ef\u80fd\u6b63\u5728\u6d88\u9000\uff0c\u53d6\u800c\u4ee3\u4e4b\u7684\u662f\u66f4\u4e3a\u6e29\u548c\u6216\u66f4\u4e3a\u7a33\u5b9a\u7684\u589e\u957f\u3002<\/p>\n
\u4e0d\u65ad\u589e\u957f\u7684\u5e02\u573a\u89c4\u6a21\u610f\u5473\u7740\u9700\u8981\u6307\u6570\u7ea7\u66f4\u591a\u7684\u8d44\u672c\u624d\u80fd\u663e\u8457\u63a8\u52a8\u4ef7\u683c\u4e0a\u6da8\u3002<\/p>\n
\u4e0d\u8fc7\uff0c\u8fd9\u5e76\u4e0d\u80fd\u786e\u5b9a\u672c\u5468\u671f\u5df2\u7ecf\u89c1\u9876\u3002\u4ee5\u5f80\u5468\u671f\u901a\u5e38\u5305\u62ec\u957f\u65f6\u95f4\u7684\u76d8\u6574\u6216\u5c0f\u5e45\u56de\u8c03\u9636\u6bb5\uff0c\u4e4b\u540e\u624d\u4f1a\u8fbe\u5230\u65b0\u7684\u9ad8\u70b9\u3002<\/p>\n
\u968f\u7740\u673a\u6784\u6295\u8d44\u8005\u626e\u6f14\u7740\u8d8a\u6765\u8d8a\u91cd\u8981\u7684\u89d2\u8272\uff0c\u79ef\u7d2f\u9636\u6bb5\u53ef\u80fd\u4f1a\u6301\u7eed\u66f4\u957f\u65f6\u95f4\u3002\u56e0\u6b64\uff0c\u5cf0\u503c\u5229\u6da6\u7684\u629b\u552e\u53ef\u80fd\u4e0d\u4f1a\u50cf\u65e9\u671f\u5468\u671f\u90a3\u6837\u7a81\u7136\u3002<\/p>\n
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