比特幣（BTC）接近歷史高點，但關鍵指標閃爍警告訊號

比特幣最近創下了 92,326.13 美元的歷史新高，激發了希望進一步上漲的投資者的興奮。然而，有一些關鍵指標可能預示著價格調整的可能性。

Bitcoin recently hit a new all-time high. But what’s next for the world’s biggest cryptocurrency?

比特幣最近創下了歷史新高。但世界上最大的加密貨幣的下一步是什麼？

Several key indicators could signal the potential for a price correction. Let’s break down the current market situation and explore what the MVRV ratio, Fear & Greed Index, Coin Days Destroyed (CDD), and Inter-Exchange Flow Pulse (IFP) can tell us about Bitcoin’s near future.

幾個關鍵指標可能預示著價格調整的可能性。讓我們分解一下當前的市場狀況，並探討 MVRV 比率、恐懼與貪婪指數、幣毀天數（CDD）和交易所間流量脈衝（IFP）可以告訴我們比特幣近期的未來。

MVRV Ratio: A Signal for Market Tops

MVRV 比率：市場見頂的訊號

The MVRV (Market Value to Realized Value) ratio is one of the most important metrics for identifying market tops. It currently sits at 2.05, indicating that the average Bitcoin is priced at 2.05x its last purchase price.

MVRV（市場價值與已實現價值）比率是確定市場頂部最重要的指標之一。目前為 2.05，顯示比特幣的平均價格是上次購買價格的 2.05 倍。

In March, when Bitcoin's price reached $73,000, the MVRV ratio was at 2.75. On September 6, it dropped to 1.71, but has since rebounded sharply.

3月份，當比特幣價格達到73,000美元時，MVRV比率為2.75。 9月6日跌至1.71，但此後大幅反彈。

If the MVRV ratio surpasses the 2.75 mark again, it could signal that Bitcoin has reached its peak price, warning investors that the market may be nearing its top.

如果MVRV比率再次突破2.75大關，則可能表示比特幣價格已達到峰值，警告投資者市場可能已接近頂部。

Fear & Greed Index: Understanding Market Sentiment

恐懼與貪婪指數：了解市場情緒

The Crypto Fear & Greed Index is currently at 83, indicating “extreme greed” in the market. This is a classic warning sign for investors: when the Fear & Greed Index crosses the 80 threshold, it is often followed by a price correction.

加密貨幣恐懼與貪婪指數目前為 83，顯示市場「極度貪婪」。這對投資者來說是一個典型的警訊：當恐懼與貪婪指數突破 80 的門檻時，通常會出現價格調整。

As greed intensifies, so does the likelihood of a sudden market pullback. Investors may want to reconsider their risk management strategies and prepare for potential price drops.

隨著貪婪加劇，市場突然回檔的可能性也會增加。投資者可能需要重新考慮他們的風險管理策略，並為潛在的價格下跌做好準備。

Long-Term Holders Selling: Bitcoin Coin Days Destroyed (CDD)

長期持有者拋售：比特幣硬幣銷毀天數（CDD）

Another telling metric is the Bitcoin Coin Days Destroyed (CDD) index, which currently stands at 36,654,904.70618499. This index tracks when Bitcoin that has been held for a long period is moved or sold.

另一個有說服力的指標是比特幣銷毀天數 (CDD) 指數，目前為 36,654,904.70618499。該指數追蹤長期持有的比特幣何時被轉移或出售。

When CDD spikes above 15 to 20 million, it suggests that long-term holders are beginning to sell, which often occurs when these investors believe further price increases are unlikely.

當 CDD 飆升至 15 至 2000 萬以上時，表明長期持有者開始拋售，這種情況通常發生在這些投資者認為價格不太可能進一步上漲時。

The current level of the CDD index could indicate that profit-taking is underway.

CDD 指數的目前水準可能表示獲利了結正在進行中。

Inter-Exchange Flow Pulse: Tracking Market Sentiment

交易所間流量脈搏：追蹤市場情緒

The Inter-Exchange Flow Pulse (IFP) index tracks the movement of Bitcoin between wallets and exchanges. It currently sits at 753.0127K.

交易所間流量脈衝（IFP）指數追蹤比特幣在錢包和交易所之間的流動。目前其值為 753.0127K。

A sharp increase in Bitcoin being moved to derivative exchanges can be a bearish signal, as it often indicates that traders are preparing for potential price drops or increased volatility.

轉移到衍生性商品交易所的比特幣數量急劇增加可能是一個看跌訊號，因為它通常表明交易者正在為潛在的價格下跌或波動性增加做好準備。

The recent spike in exchange inflows raises concerns about a possible correction, as large inflows tend to precede sell-offs.

最近外匯流入的激增引發了人們對可能出現的調整的擔憂，因為大量資金流入往往先於拋售。