比特幣礦工的位置指數（MPI）勢頭最近形成了一個跨界，這在歷史上一直是該資產價格的看漲

比特幣MPI在分析師的QuickTake帖子中解釋了它的90天MA交叉超過365天

Bitcoin (BTC) has seen some weakness in its price over the last few days, but the asset may soon be due for another leg up. This is according to a key metric that has historically signaled the start of extended bullish periods for the cryptocurrency.

在過去的幾天裡，比特幣（BTC）的價格有些弱點，但是資產可能很快就會造成另一條路。這是根據一個關鍵指標，該指標歷史上表明了加密貨幣的長期看漲時期的開始。

Bitcoin Miners’ Outflows Show Bullish Momentum

比特幣礦工的流出表明看漲勢頭

The metric in question is a derivative of the Bitcoin Miners’ Position Index (MPI). As its name suggests, the MPI is an on-chain indicator that tracks the ratio between the total miner outflows and their 365-day moving average (MA).

所討論的度量是比特幣礦工位置指數（MPI）的衍生物。顧名思義，MPI是一個鏈上的指標，該指標跟踪礦工總流量與其365天移動平均線（MA）之間的比率。

Naturally, the miner outflows here are the amounts of BTC (in USD) that are being transferred out of the wallets belonging to the network’s validators.

自然，這裡的礦工流出是從屬於網絡驗證器的錢包中轉移出來的BTC（美元）的數量。

When the MPI is high, it means the miners are making more outflows than usual. The main reason why this cohort usually sells their tokens is for covering their operational costs. Hence, this kind of trend can be bearish for the asset’s price.

當MPI高時，這意味著礦工的流出比平常更多。該隊列通常出售其令牌的主要原因是支付其運營成本。因此，這種趨勢對於資產的價格可能是看跌。

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Conversely, the indicator being low suggests that the miners are withdrawing a lower number of coins than the average for the past year. Such a trend could be a sign that this group is preferring to hold for now.

相反，指標低表明，礦工撤回的硬幣數量低於過去一年的平均值。這樣的趨勢可能表明該小組更喜歡目前持有。

An interesting derivative of the MPI is the MPI Momentum, which is the 90-day MA of the indicator divided by its 365-day MA. This metric highlights any changes in the momentum of the miner outflows.

MPI動量是MPI的一個有趣的衍生品，這是指標的90天MA除以365天MA。這指標突出顯示了礦工流出的動量的任何變化。

Bitcoin Price May Soon Rally Again As Key Metric Shows Bullish Trend on ChainAnalysis.com

比特幣價格可能很快再次集會，因為關鍵指標顯示了ChainaNalsisy上的看漲趨勢

As you can see from the above chart, the 90-day MA of the Bitcoin MPI has just crossed above the 365-day one. This pattern has historically signaled the start of an extended bullish period for the cryptocurrency.

從上圖上可以看到，比特幣MPI的90天MA剛剛超過365天的一桿。從歷史上看，這種模式表明了加密貨幣的長期看漲時期的開始。

The last time that the two MAs of the MPI displayed this trend before the latest instance was back in December 2022, following which BTC went on to hit a new all-time high (ATH) a month later.

MPI的兩個MAS上一次在最新實例回到2022年12月之前展示了這一趨勢，此後BTC在一個月後繼續達到了新的歷史最高點（ATH）。

Bitcoin Price Analysis

比特幣價格分析

At the time of writing, BTC is trading at $102,500, showing a slight gain of 0.5% in the last 24 hours and a 6% loss in the last seven days.

在撰寫本文時，BTC的交易價格為102,500美元，在過去的24小時內略有0.5％，在過去7天內虧損6％。

The relative strength index (RSI) on the daily chart is around the 45 level, which shows that the asset has some room remaining in this cycle before miner selloff leads to a top.

每日圖表上的相對強度指數（RSI）約為45級，這表明該資產在礦工拋售導致頂部之前剩下一些空間。