鏈數據顯示，比特幣（BTC）的阻力水平顯著。

在X上的新帖子中，市場情報平台Intotheblock討論了BTC的支持和阻力水平如何從鏈上看

On-chain data from IntoTheBlock highlights a massive Bitcoin supply wall in the vicinity of the $97,200 price level, posing a potential hindrance to BTC’s further advances.

來自Intotheblock的鍊鍊數據突出顯示了97,200美元的價格水平附近的巨大比特幣供應牆，這對BTC的進一步進一步構成了潛在的障礙。

According to a recent analysis by IntoTheBlock, Bitcoin (BTC) appears to be facing significant resistance at price levels just ahead, based on on-chain supply distribution.

根據Intotheblock的最新分析，基於鏈供應分佈，比特幣（BTC）似乎在價格水平上面臨著明顯的抵抗力。

The analysis, shared in a new post on X, aims to identify support and resistance levels for BTC from an on-chain perspective. In on-chain analysis, the potential of any price level to act as support or resistance lies in the amount of supply that was last transferred or purchased at it.

該分析在X上的新帖子中分享，旨在從鏈的角度識別BTC的支持和阻力水平。在鏈分析中，任何價格水平充當支持或阻力的潛力在於最後轉移或購買的供應量。

The chart below from the analytics firm shows the supply distribution of the cryptocurrency at price levels near the current spot Bitcoin value.

下面的分析公司的圖表顯示了當前比特幣值接近的價格水平的加密貨幣的供應分佈。

In the graph, the size of the dot correlates to the amount of BTC that investors last bought in the corresponding price range. It would appear that the $96,400 to $98,400 range currently has a particularly large dot associated with it, which implies these levels host the cost basis of a significant number of holders.

在圖中，點的大小與投資者最後在相應價格範圍內購買的BTC數量相關。看來，目前96,400至98,400美元的$ 98,400範圍與之相關，這意味著這些級別具有大量持有人的成本基礎。

More specifically, around 1.6 million addresses last acquired a total of 1.57 million BTC inside the range. Since Bitcoin is trading under these levels at the moment, all of these investors would be underwater.

更具體地說，大約有160萬個地址上次獲得了該範圍內總計157萬BTC。由於目前比特幣在這些水平下進行交易，因此所有這些投資者都將在水下。

Holders in loss can be desperate to recoup their investment, so selling from them can sometimes occur as soon as the price of the cryptocurrency rises back to its cost basis.

損失的持有人可能迫切希望收回投資，因此，一旦加密貨幣的價格升至其成本基礎，有時可能會出售它們。

While selling from a few investors isn’t anything to write home about, when the price is retesting a range holding the acquisition level of a significant number of addresses, a reaction large enough may be produced to influence the asset’s value.

雖然從少數投資者出售並沒有什麼可寫的，但是當價格重新測試範圍內，持有大量地址的收購水平時，可能會產生足夠大的反應以影響資產的價值。

The $96,400 to $98,400 range is clearly quite large, so it’s possible that it could be the reason why Bitcoin has been unable to find any bullish breaks during the past week.

$ 96,400至$ 98,400的範圍顯然很大，因此可能是比特幣在過去一周中找不到任何看漲休息時間的原因。

Just like how supply blocks above the spot price can end up acting as a source of resistance for the asset, those below can be a point of support. This happens because investors who were once in profit may believe that the price would go up again in the near future, so they could decide to double down on their bet and take advantage of the ‘dip’.

就像高於現貨價格的供應塊最終可以充當資產的電阻來源一樣，下面的資產也可以是支持點。之所以發生這種情況，是因為曾經獲利的投資者可能會認為價格會在不久的將來再次上漲，因此他們可以決定賭注加倍並利用“蘸醬”。

Currently, $93,400 to $96,200 is the strongest support wall that BTC has out of the nearby ranges. However, it contains a lower amount of supply than the aforementioned resistance block, meaning that its effect should be weaker.

目前，$ 93,400至$ 96,200是BTC在附近範圍內擁有的最強支撐牆。但是，它包含的供應量低於上述電阻塊，這意味著其效果應較弱。

If the support range is lost, there are only thin walls waiting for Bitcoin up to $81,800. It now remains to be seen whether Bitcoin can surpass the resistance, or if it would find itself retesting one of these weaker support levels.

如果支撐範圍丟失，只有薄壁等待比特幣高達81,800美元。現在，比特幣是否可以超越阻力，還是發現自己正在重新測試這些較弱的支撐水平之一，還有待觀察。