比特幣（BTC）採礦盈利能力在三月急劇下降後於4月反彈

由於價格下跌和交易費用下降，比特幣（BTC）礦工在3月面臨的壓力急劇下降。

Bitcoin (BTC) miners faced growing pressure in March as profitability declined sharply amid falling prices and transaction fees, a new report by investment bank Jefferies revealed on Thursday.

投資銀行杰弗里斯（Jefferies）週四透露，比特幣（BTC）礦工在3月的壓力下急劇下降，盈利能力急劇下降。

However, this could change in April as the cryptocurrency’s price rebounded, hitting $85,000 and outpacing the broader U.S. stock market.

但是，隨著加密貨幣的價格反彈，達到85,000美元，超過了更廣泛的美國股市，這可能會在4月改變。

The report, which assessed the activity of major U.S.-listed Bitcoin miners, highlighted a 7.4% decrease in mining profitability over March. This was attributed to an 11.2% drop in the average BTC price and a 9.1% slide in transaction fees, two metrics which directly impact miner revenue.

該報告評估了美國主要上市比特幣礦工的活動，該報告強調了3月的採礦盈利能力下降了7.4％。這歸因於BTC的平均價格下跌了11.2％，交易費用9.1％幻燈片，兩個指標直接影響礦工收入。

These two metrics, which directly impact miner revenue, signaled a challenging month for operators despite a rise in network contribution from U.S.-listed miners.

直接影響礦工收入的這兩個指標表明，儘管美國上市礦工的網絡貢獻增加了運營商的一個挑戰月份。

According to Jefferies, public mining companies in the U.S. mined a total of 3,534 BTC in March, up from 3,002 in February. Their share of the total Bitcoin network also rose to 24.8% from 23.6% the previous month.

根據傑富瑞（Jefferies）的說法，美國公共礦業公司在3月份總共開采了3,534 BTC，高於2月的3,002。他們在比特幣網絡中的份額也從上個月的23.6％上升到24.8％。

Marathon Digital Holdings (NASDAQ:NASDAQ:MDR) led production with 829 BTC mined, followed by CleanSpark (NASDAQ:CLSI) with 706 BTC. Despite the increase in production, the financial return diminished due to weaker pricing and fee structures across the network.

馬拉松數字控股公司（NASDAQ：NASDAQ：MDR）以829 BTC開採領導生產，然後以706 BTC為CleanSpark（NASDAQ：CLSI）。儘管產量有所增加，但由於整個網絡上的定價和費用結構較弱，財務回報卻降低了。

While March saw a decline in profitability, Jefferies noted a different picture emerging in April. Though mining profitability data is not yet available, Bitcoin has shown surprising resilience. The cryptocurrency briefly rallied to $85,000 on Monday, fueled in part by easing trade concerns.

杰弗里斯（Jefferies）注意到4月份出現了不同的情況，而三月的盈利能力下降。儘管尚不可用採礦盈利能力數據，但比特幣表現出令人驚訝的彈性。週一，加密貨幣在周一短暫地升至85,000美元，部分原因是緩解貿易問題。

According to CoinMarketCap data, Bitcoin traded at $84,702 at the time of reporting, up 7% over the past week. The 24-hour trading volume surged 37% to more than 35 billion, largely reflecting post-weekend activity. Market capitalization increased to $1.68 trillion.

根據CoinMarketCap數據，在報告時，比特幣的交易價格為84,702美元，在過去一周中增長了7％。 24小時的交易量飆升了37％，至350億多，主要反映了周末的活動。市值增加到1.68萬億美元。

Key Levels To Watch

觀看的關鍵水平

The immediate price resistance level is currently at $87,800. On-chain data suggests significant liquidity has built up at this level, where many traders have placed stop or limit orders.

目前，立即的價格阻力水平為87,800美元。鏈上的數據表明，在此級別上已經建立了大量流動性，許多交易者已下達停止或限制訂單。

A move beyond this threshold with high volume could trigger a bullish breakout and push BTC into new territory. The next resistance level is at $90K. Alternatively, if bears defend the level aggressively, the market could see a rejection and short-term correction.

超出此閾值的移動可能會引發看漲的突破，並將BTC推向新領域。下一個電阻水平為$ 90K。另外，如果熊隊積極捍衛水平，市場可能會看到拒絕和短期糾正。

For now, traders are watching closely as Bitcoin hovers just below this inflection point.

目前，當比特幣徘徊在此拐點以下時，交易者正在密切關注。

Despite the headwinds faced in March, the early April performance may provide some relief for miners, especially if the current momentum sustains. But with mining rewards halving on the horizon, the profitability calculus could change rapidly once again.

儘管三月份面臨逆風，但4月初的表演可能會為礦工提供一些緩解，尤其是在當前的勢頭維持下去時。但是，隨著採礦獎勵逐漸減半，盈利能力計算可能會再次變化。