為什麼$ 87,000的水平可能對比特幣價格的長期健康至關重要

在過去的幾周中，比特幣的價格在恢復其六位數估值的旅程中無法維持任何有意義的勢頭。

Over the past few weeks, the Bitcoin price has not been able to sustain any meaningful momentum in its journey to recover its six-figure valuation. After falling to just above $81,000 on Tuesday, March 18, the flagship cryptocurrency pushed for the $87,000 mark before facing a significant level.

在過去的幾周中，比特幣的價格在收回其六位數估值的過程中無法維持任何有意義的勢頭。 3月18日星期二跌至81,000美元以上的$ 81,000之後，旗艦加密貨幣在面對顯著水平之前以87,000美元的成績推向了$ 87,000。

According to a March 21 post by popular crypto analyst Maartunn, this $87,000 price point could be crucial for the long-term health of the Bitcoin market.

根據流行的加密分析師Maartunn的3月21日帖子，這個87,000美元的價格點可能對比特幣市場的長期健康至關重要。

To understand why this specific analysis matters, it’s best to break down the average on-chain cost basis of several BTC investors. Cost-basis analysis assesses a price level’s capacity to function as either resistance or support by examining the total amount of coins purchased in or around it. The size of the dot in the chart below indicates the number of coins bought within a particular price bracket (hence the strength of the support or resistance area).

要了解為什麼這種特定分析很重要，最好分解幾位BTC投資者的平均鏈上成本基礎。成本基礎分析通過檢查在其周圍或周圍購買的硬幣總量來評估價格水平作為電阻或支持的能力。下圖中的點的大小表示在特定價格支架內購買的硬幣數量（因此，支撐或阻力區域的強度）。

As highlighted by Maartunn, about 5.58 million addresses bought 3.79 million BTC (valued at $367 billion at an average price of $97,059) between the $87,867 – $106,839 region. These investors are “sitting on a hot potato” and are currently in the red, having purchased coins at prices higher than the current market valuation.

正如Maartunn強調的那樣，約有558萬個地址購買了379萬BTC（價值3670億美元，平均價格為97,059美元），在87,867美元至106,839美元之間。這些投資者“坐在熱馬鈴薯上”，目前處於紅色狀態，以高於當前市場估值的價格購買了硬幣。

Typically, this $87,867 – $106,839 region acts as a crucial resistance area. If the Bitcoin price rises again and reaches this zone, these investors are likely to sell their assets should the market return to their cost basis. This selling activity would put some downward pressure on the premier cryptocurrency, hindering the further upward price movement.

通常，這個$ 87,867 - 106,839美元的地區充當關鍵阻力區域。如果比特幣價格再次上漲並到達該區域，則這些投資者很可能會出售其資產，如果市場恢復到其成本基礎。這項銷售活動將給總理加密貨幣帶來一些向下壓力，從而阻礙了進一步的向上價格變動。

Furthermore, the investors within the $87,867 – $106,839 region are identified as short-term holders, a class of investors known to be “fragile” and more responsive to slight market movements. This might not be an ideal scenario, especially if the market experiences another wave of bearish pressure.

此外，投資者在87,867美元至106,839美元的地區被確定為短期持有人，一類已知的投資者“脆弱”，對微小市場變動的反應更大。這可能不是理想的情況，尤其是如果市場承受著另一種看跌壓力。

Short-term holders have been linked to significant sell-off events in reaction to price fluctuations. Ultimately, this implies that the Bitcoin market could experience a severe capitulation event if the short-term investors in the $87,867 – $106,839 region are forced to realize their losses.

短期持有人與對價格波動的反應有關重大的拋售事件。最終，這意味著，如果87,867美元至106,839美元的短期投資者被迫實現損失，則比特幣市場可能會遇到嚴重的投降活動。

Bitcoin Price At A Glance

比特幣價格一目了然

As of this writing, the price of BTC is trading at $84,000, reflecting no significant change in the past 24 hours.

截至撰寫本文時，BTC的價格為84,000美元，反映了過去24小時內沒有重大變化。