儘管比特幣（BTC）看跌，但運動代幣（MOVE）仍準備復甦

[MOVE] 運動顯示，截至發稿前 24 小時內，未平倉合約增加了 5%。與此同時，價格上漲了 3.3%。

The price of Movement token [MOVE] saw a 3.3% hike over the 24 hours before press time, reaching $0.93. This came with a 5% increase in Open Interest (OI) too. During this time, Bitcoin [BTC] saw a minimal 0.04% price gain, while its OI dropped by 0.09%.

在發稿前 24 小時內，Movement 代幣 [MOVE] 的價格上漲了 3.3%，達到 0.93 美元。同時，未平倉合約 (OI) 也增加了 5%。在此期間，比特幣 [BTC] 的價格上漲了 0.04%，而 OI 則下降了 0.09%。

Despite Bitcoin’s bearishness, however, some realized cap and supply distribution metrics might be setting up MOVE for a recovery.

然而，儘管比特幣看跌，但一些已實現的上限和供應分配指標可能正在為復甦奠定基礎。

MOVE range formation outlines crucial support and resistance levels

MOVE 範圍形成概述了關鍵的支撐位和阻力位

Four-hour Chart

四小時圖

Over the past month, the Movement token has traded within a range. It climbed from $0.83 to $1.13, with the mid-range level at $0.98. Over the last five days, the mid-range level has opposed bullish efforts at recovery. It also lined up with the psychological $1-level, making it a harder challenge for the buyers to overcome.

在過去的一個月裡，Movement 代幣一直在一個區間內交易。價格從 0.83 美元攀升至 1.13 美元，中間價位為 0.98 美元。在過去的五天裡，中間水平阻礙了復甦的看漲努力。它也與 1 美元的心理水平一致，這使得買家面臨更難克服的挑戰。

The $0.8-$0.83 area is a support zone. The OBV has not formed new lows over the past two weeks – An encouraging sight. The selling volume was not overwhelming either. The Awesome Oscillator showed bearish momentum was the norm in recent days, but it seemed to be on the verge of forming a bullish crossover too.

$0.8-0.83 區域是支撐區域。過去兩週 OBV 並未創下新低點——這是一個令人鼓舞的景象。銷量也不是壓倒性的。令人敬畏的振盪指標顯示看跌勢頭是最近幾天的常態，但它似乎也處於形成看漲交叉的邊緣。

Short-term bearishness evident from OI and realized cap metrics

OI 和已實現上限指標顯示短期看跌

One-day Chart

一日圖

Meanwhile, data from Coinalyze highlighted strong short-term bearish sentiment. The Open Interest has been trending lower alongside the spot CVD. The 5% gains over the last 24 hours were too little to counteract the prevalent selling sentiment.

同時，Coinalyze 的數據凸顯了強烈的短期看跌情緒。未平倉合約隨著現貨 CVD 一直呈現下降趨勢。過去 24 小時內 5% 的漲幅不足以抵消普遍的拋售情緒。

Short-term realized cap underlines distribution trends

短期已實現上限凸顯了分佈趨勢

One-day Chart

一日圖

The NVT ratio saw a sharp uptick recently. This indicated potential overvaluation of the token, relative to its transaction volume. The 30-day MVRV ratio was at -4%, highlighting that MOVE holders were at a minor loss.

NVT比率最近急劇上升。這表明該代幣相對於其交易量可能被高估。 30 天 MVRV 比率為-4%，突顯 MOVE 持有者遭受了輕微損失。

The realized cap across the 30-day window saw a steep fall last week, alongside its dwindling price. Since the realized cap calculates the value of an asset based on the price at which each token was last moved, this meant participants were moving the token at lower prices.

上週，隨著價格的下跌，30 天窗口的已實現上限大幅下跌。由於已實現上限是根據每個代幣上次移動的價格計算資產的價值，這意味著參與者以較低的價格移動代幣。

Finally, supply distribution analysis showed that apart from the wallets holding 100k-1 million MOVE, most other market participants were buying more. This whale cohort is arguably among the most important holders. Despite the downtick over the past week, their numbers were still higher than it was before Christmas.

最後，供應分佈分析顯示，除了持有10萬-100萬MOVE的錢包外，大多數其他市場參與者都在購買更多。這群鯨魚可以說是最重要的持有者之一。儘管過去一周有所下降，但人數仍高於聖誕節前。

Overall, the short-term bias was bearish, and the OI change was not enough for MOVE’s recovery. Thus, traders can keep an eye on the realized cap metric. A sudden spike would be a buy signal. Meanwhile, steady accumulation from some cohorts of holders also implied conviction.

整體而言，短期偏向看跌，OI 變化不足以推動 MOVE 的復甦。因此，交易者可以關注已實現的上限指標。突然的飆升將是一個買進訊號。同時，一些持有者群體的穩定增持也顯示了他們的信念。