比特幣獲利能力在調整中下降，預示著看漲機會

在最近的比特幣價格暴跌之後，鏈上數據顯示，利潤中的比特幣供應量大幅下降。 「利潤供應百分比」指標追蹤流通比特幣持有未實現收益的百分比，已降至 90% 左右，顯示目前約有 10% 的供應量處於虧損狀態。

Bitcoin Profitability Plunges Amidst Market Downturn, Signaling Potential Bullish Respite

市場低迷期間比特幣獲利能力暴跌，預示著潛在的看漲喘息機會

As Bitcoin's price underwent a significant correction towards the $65,000 level, on-chain data reveals a stark decline in the supply held in profit, indicating a potential shift in investor sentiment.

隨著比特幣價格大幅回調至 65,000 美元水平，鏈上數據顯示利潤中持有的供應量大幅下降，顯示投資者情緒可能發生轉變。

Supply in Profit Drops Sharply

利潤供應急劇下降

According to analyst James Van Straten, approximately 10% of Bitcoin's circulating supply is now at a loss. The indicator used to gauge this, the "Percent Supply in Profit," tracks the percentage of the total supply holding an unrealized gain.

分析師 James Van Straten 表示，目前約 10% 的比特幣流通供應量處於虧損狀態。用於衡量這一點的指標「利潤中的供應百分比」追蹤了持有未實現收益的總供應量的百分比。

This metric calculates the cost basis of each coin by examining its transaction history on the blockchain. The coins with a cost basis below the current spot price are considered in profit and contribute to the Percent Supply in Profit.

該指標透過檢查區塊鏈上的交易歷史記錄來計算每種代幣的成本基礎。成本基礎低於當前現貨價格的代幣被視為利潤，並貢獻於利潤中的供應百分比。

Chart Analysis

圖表分析

A chart depicting the trend in Bitcoin's Percent Supply in Profit over recent months shows a precipitous drop in the metric's value. This decline coincides with the cryptocurrency's price correction.

一張描繪近幾個月比特幣利潤供應百分比趨勢的圖表顯示，該指標的價值急劇下降。此次下跌與加密貨幣的價格調整同時發生。

The indicator has reached the 90% mark, indicating that about 10% of the supply is currently incurring a loss. Notably, the last time the metric dipped to this level was on March 22nd, which also marked the asset's previous market bottom.

該指標已達到90%大關，顯示目前約有10%的供應量正在遭受損失。值得注意的是，該指標上次跌至這一水平是在 3 月 22 日，這也標誌著該資產之前的市場底部。

Implications for Market Dynamics

對市場動態的影響

Historically, high levels of Percent Supply in Profit have often foreshadowed market tops, as investors in the green are more likely to sell their holdings. Conversely, bottoms tend to emerge when profitability levels drop, indicating diminished selling pressure.

從歷史上看，利潤中的高供應百分比往往預示著市場見頂，因為綠色投資者更有可能出售所持股份。相反，當獲利水準下降時，底部往往會出現，表示拋售壓力減弱。

The current value of 90% remains relatively high but is not uncommon during bull runs characterized by strong demand and the pursuit of new all-time highs.

目前90%的價值仍然相對較高，但在以強勁需求和追求歷史新高為特徵的牛市期間並不罕見。

Bullish Outlook

看漲前景

The recent cooling-off in profitability may provide constructive support for the continuation of the rally, similar to what occurred last month. As investor profitability levels normalize, the likelihood of a mass selloff diminishes, allowing the rally to potentially extend its momentum.

與上個月發生的情況類似，近期獲利能力的降溫可能為股市持續上漲提供建設性支持。隨著投資者獲利水準正常化，大規模拋售的可能性就會降低，從而有可能延續反彈動能。

Price Movement

價格變動

At the time of writing, Bitcoin trades around $65,700, a decline of over 5% over the past week. The asset's price has been on a downward trajectory in recent days.

截至撰寫本文時，比特幣交易價格約為 65,700 美元，過去一周下跌超過 5%。最近幾天，該資產的價格一直呈下降趨勢。

Conclusion

結論

The plunge in Bitcoin's Percent Supply in Profit suggests a shift in investor sentiment, with a higher proportion of the supply entering a state of loss. While the metric remains elevated, its recent decline may indicate a potential tailwind for the continuation of the bullish trend, echoing the market behavior observed in March. Nonetheless, investors should exercise caution and conduct thorough due diligence before making any investment decisions.

比特幣供應占利潤的百分比暴跌表明投資者情緒發生了變化，更高比例的供應進入虧損狀態。儘管該指標仍處於高位，但其最近的下跌可能表明看漲趨勢持續存在潛在的推動力，這與 3 月觀察到的市場行為相呼應。儘管如此，投資者在做出任何投資決定之前應謹慎行事並進行徹底的盡職調查。