據報導，比特幣（BTC）市場顯示出明顯的跡象

比特幣的支出利潤率自12月以來一直保持其位置，顯示出向牛市的潛在運動。

Bitcoin market seems to be displaying significant signs of an upcoming breakout. One key indicator, the Spent Output Profit Ratio (SOPR), has remained flat since December, indicating a potential move toward a bull market.

比特幣市場似乎顯示出即將出現的突破的重要跡象。自12月以來，一個關鍵指標（SPOR）一直保持平穩，表明潛在的朝牛市邁進。

Bitcoin Continues to Maintain LTH/STH SOPR Ratio

比特幣繼續保持LTH/STH SOPR比率

Since December, Bitcoin has maintained a specific level of Spent Output Profit Ratio among Long-Term Holders (LTHs). This metric indicates that both short-term holders (STHs) and LTHs are reportedly realizing profits at a similar rate. SOPR is a widely used blockchain analytic that determines whether BTC sellers are transferring at a loss or a profit. When the SOPR value rises above 1, it indicates that investors are selling assets at a profit. Conversely, a value below this level highlights selling at a loss.

自12月以來，比特幣在長期持有人（LTHS）中維持了特定水平的支出利潤率。該指標表明，據報導，短期持有人（STH）和LTH都以相似的速度實現了利潤。 SOPR是一種廣泛使用的區塊鏈分析，它決定了BTC賣家是在損失還是利潤轉移。當Sopr值上升到1以上時，這表明投資者正在以利潤出售資產。相反，低於此級別的價值突出顯示出虧損的銷售。

One crucial metric that aids in analyzing market cycles is the ratio of LTH SOPR to STH SOPR. Historically, a large bull market has commenced when this ratio increased past the 3 mark. In previous cycles, this threshold signaled the beginning of parabolic surges, as seen in 2020 and 2017.

一個有助於分析市場週期的關鍵指標是第LTH SOPR與STH SOPR的比率。從歷史上看，當這個比率超過3分時，就開始了一個大型的牛市。在以前的周期中，該閾值表示拋物線湧動的開始，如2020年和2017年所示。

Such Developments Led to Massive Price Surges in the Past

這些發展導致了過去的巨大價格激增

Despite the top crypto’s price movements in recent months, the LTH/STH SOPR has had difficulty surpassing a level of 3. Since December, it has encountered resistance at this value. This pattern mirrors observations in December 2020 and April 2017. In past cycles, when the LTH/STH SOPR crossed above 3, Bitcoin experienced sharp upward trajectories.

儘管最近幾個月的加密貨幣價格最高，但LTH/STH SOPR仍難以超過3個水平。自12月以來，它以這種價值遇到了阻力。這種模式反映了2020年12月和2017年4月的觀察結果。

Trending Now: Coinbase Again Offers Bitcoin-Backed Loans in U.S.

現在趨勢：Coinbase再次在美國提供比特幣支持的貸款

Indicating Potential Precursor to a Large Bull Market

指示大型牛市的潛在前體

The precedent mentioned above suggests that the current period of consolidation may be setting the stage for a large bull run. Considering this, the current market scenario resembles accumulation periods ahead of a bull market, which could propel Bitcoin’s price to new all-time highs.

上面提到的先例表明，當前的合併時期可能是為大型牛市奠定基礎。考慮到這一點，當前的市場情景類似於牛市之前的累積期，這可能會使比特幣的價格達到新的高價。