以目前的價格來看，很少比特幣地址處於水下

鏈上數據顯示，在資產價格飆升至 10 萬美元以上後，所有比特幣持有者中仍有不到 1% 的人處於虧損狀態。

Less than 1% of all Bitcoin (BTC) holders are still sitting at a loss following the recent surge in the asset’s price above the $100,000 level.

在比特幣 (BTC) 價格近期飆升至 10 萬美元以上後，所有比特幣 (BTC) 持有者中仍有不到 1% 的人仍處於虧損狀態。

On-chain data shows that the vast majority of BTC addresses are now deep “in the money,” having purchased their coins at an average price below the current spot rate.

鏈上數據顯示，絕大多數 BTC 地址現在都處於「資金充足」狀態，他們以低於當前即期匯率的平均價格購買了代幣。

Bitcoin Addresses Sitting Underwater At Current Price

比特幣地址按當前價格處於水下

As Bitcoin trades very close to its all-time high, it is to be expected that few investors are left sitting at a loss.

由於比特幣的交易價格非常接近歷史高點，因此預計很少投資者會虧損。

In a new post, market intelligence platform IntoTheBlock discussed the profit-loss distribution of the Bitcoin userbase after the recovery run that the cryptocurrency has seen.

在一篇新文章中，市場情報平台 IntoTheBlock 討論了加密貨幣復甦後比特幣用戶群的利潤損失分佈。

“Only 380K addresses (less than 1%) bought BTC above the current price, and they're now sitting underwater,” noted the analytics firm.

該分析公司指出：“只有 38 萬個地址（不到 1%）以高於當前價格的價格購買了 BTC，而他們現在正處於水下。”

Below is a chart shared by IntoTheBlock, showing the price ranges within which these few addresses still “underwater” bought their coins:

以下是 IntoTheBlock 分享的圖表，顯示了這幾個仍處於「水下」狀態的地址購買其代幣的價格範圍：

Bitcoin Holder Cost Basis Levels

比特幣持有者成本基礎水平

In the graph, the size of the dot corresponds to the amount of BTC that the holders last purchased within the corresponding price range.

圖中，圓點的大小對應於持有者在對應價格範圍內最後購買的BTC數量。

As you can see, there are only very small dots associated with the levels ahead of the current spot price, which now hovers around the $98,000 mark.

正如您所看到的，只有非常小的點與當前現貨價格之前的水平相關，目前現貨價格目前徘徊在 98,000 美元大關附近。

The ranges ahead of the present level of BTC contain the cost basis of around 380,000 addresses. This may sound like a lot, but given the sheer size of the BTC userbase, this number makes up for less than 1% of all holders of the asset.

BTC 目前水準之前的範圍包含約 380,000 個位址的成本基礎。這聽起來可能很多，但考慮到 BTC 用戶群的龐大規模，這個數字只佔該資產所有持有者的不到 1%。

Holder cost basis levels are considered important in on-chain analysis due to the fact that investors are more prone to making moves whenever their profit-loss status is about to flip.

持有者成本基礎水準在鏈上分析中被認為很重要，因為投資者在利潤損失狀態即將發生變化時更容易採取行動。

For instance, holders who were in loss prior to the retest (that is, when the retest takes place from below) might respond by selling, as they could fear the price would go down again in the future, making this potentially their only opportunity in the near term to get their money back.

例如，在重新測試之前（即，從下方進行重新測試時）處於虧損狀態的持有者可能會透過出售來應對，因為他們可能擔心未來價格會再次下跌，這可能是他們唯一的機會在短期內收回他們的錢。

This selling can visibly affect Bitcoin if the level being retested contains the acquisition level of a large amount of investors. At present, though, the ranges ahead of the asset are clearly quite thin with addresses, meaning they should likely offer little in the way of resistance from such panic sellers.

如果重新測試的水平包含大量投資者的收購水平，這種拋售可能會明顯影響比特幣。不過，目前該資產的地址範圍顯然相當窄，這意味著它們可能不會對此類恐慌性賣家產生多大的阻力。

Bitcoin Price Analysis: What To Expect Next?

比特幣價格分析：接下來會發生什麼事？

At the time of writing, Bitcoin trades at $97,900, showing a 3% gain over the past week and a 10% loss in the last 30 days.

截至本文撰寫時，比特幣交易價格為 97,900 美元，過去一周上漲 3%，過去 30 天下跌 10%。

After failing to hold onto the $100,000 level, BTC has been consolidating within a narrow range as bulls and bears both prepare for the next directional move.

在未能守住 10 萬美元水準後，BTC 一直在窄幅區間內盤整，多頭和空頭都在為下一個方向性走勢做準備。

The cryptocurrency has shown resilience at the $96,000 support, but whether it can continue making higher highs remains to be seen, especially with almost all investors now sitting in gains.

該加密貨幣在 96,000 美元的支撐位上表現出了韌性，但它是否能繼續創造更高的高點仍有待觀察，尤其是在幾乎所有投資者現在都在獲利的情況下。

Some of these profitable holders may be looking to cash out a portion of their holdings, which could introduce some selling pressure in the near term.

其中一些盈利的持有者可能會尋求兌現部分持股，這可能會在短期內帶來一些拋售壓力。