比特幣的指標暗示潛在的看漲軌跡

比特幣的普埃爾倍數已降至 0.56，表明存在潛在的買入機會。從歷史上看，較低的普埃爾多重讀數與比特幣的市場底部一致。如果這種趨勢持續下去，加密貨幣可能會在 10 月底之前飆升至 87,593 美元左右。然而，Delta Cap 表明比特幣的峰值可能已經接近，因為它目前高於先前的牛市高點。

Bitcoin's Key Metrics Hint at Potential Price Trajectory

比特幣的關鍵指標暗示了潛在的價格軌跡

Bitcoin's [BTC] Puell Multiple, a metric that gauges the ratio between daily coin issuance and the yearly average, has recently dropped to 0.56, a significant development not seen since December 2022.

比特幣的 [BTC] Puell Multiple（衡量每日代幣發行量與年度平均發行量之間比率的指標）最近已降至 0.56，這是自 2022 年 12 月以來未見的重大進展。

Historically, a Puell Multiple above 6 indicates that miners are earning more than the average of the previous year, potentially signaling a near-peak valuation for Bitcoin. Conversely, a Puell Multiple below 0.5 suggests that miners are earning less than they should, potentially indicating a near-bottom valuation.

從歷史上看，普埃爾倍數高於 6 表明礦工的收入高於上一年的平均水平，這可能預示著比特幣的估值接近峰值。相反，普埃爾倍數低於 0.5 表示礦工的收入低於應有水平，可能表示估值接近底部。

The current positioning of the Puell Multiple at 0.56 indicates that Bitcoin may be approaching a buying zone. In 2022, when the Puell Multiple last registered this value, Bitcoin's price subsequently surged by 39% within four months.

目前 Puell 倍數定位為 0.56，顯示比特幣可能正在接近買入區域。 2022 年，當普埃爾倍數最後一次達到這個值時，比特幣的價格隨後在四個月內飆升了 39%。

If history repeats itself, Bitcoin could potentially trade around $87,593 before the end of October. However, it's worth noting that corrections along the way are a possibility.

如果歷史重演，比特幣可能在 10 月底之前交易到 87,593 美元左右。然而，值得注意的是，一路上的修正是可能的。

To further assess Bitcoin's distance from its cycle peak, the Delta Cap, a metric that measures the difference between the Realized Cap and the life-to-date moving average of the Market Cap, was examined.

為了進一步評估比特幣與其週期峰值的距離，我們檢查了德爾塔上限（Delta Cap），這是一種衡量已實現上限與市值的迄今為止移動平均值之間差異的指標。

In 2021, when the Delta Cap reached $340.93 billion, Bitcoin's price began to decline. At the time of writing, the Delta Cap is valued at $355.86 billion.

2021年，當Delta Cap達到3,409.3億美元時，比特幣的價格開始下跌。截至撰寫本文時，Delta Cap 估值為 3,558.6 億美元。

While this value is higher than in the previous bull market, the fact that Bitcoin's latest all-time high surpassed its 2021 high suggests that the Delta Cap may reach even higher levels.

雖然這個值高於之前的多頭市場，但比特幣的最新歷史高點超過了 2021 年的高點，這一事實表明 Delta 上限可能會達到更高的水平。

Consequently, while Bitcoin's price may hike towards $85,000 or $90,000, reaching the $100,000 milestone is less likely. Historical data suggests that Bitcoin may face rejection as it approaches this level.

因此，雖然比特幣的價格可能會上漲至 85,000 美元或 90,000 美元，但達到 100,000 美元里程碑的可能性較小。歷史數據表明，當比特幣接近這一水平時，可能會面臨拒絕。

Failure to break past potential resistance could trigger sell-offs, with Bitcoin potentially trading below its optimistic prediction of $87,593.

如果未能突破潛在阻力位，可能會引發拋售，比特幣的交易價格可能低於 87,593 美元的樂觀預測。

It's important to emphasize that these projections are based on historical trends and may not necessarily hold true in the current market conditions. Investors should conduct thorough research and due diligence before making any investment decisions.

需要強調的是，這些預測是基於歷史趨勢，不一定適用於當前的市場狀況。投資者在做出任何投資決定之前應進行徹底的研究和盡職調查。