以目前的价格来看，很少有比特币地址处于水下

链上数据显示，在资产价格飙升至 10 万美元以上后，所有比特币持有者中仍有不到 1% 的人处于亏损状态。

Less than 1% of all Bitcoin (BTC) holders are still sitting at a loss following the recent surge in the asset’s price above the $100,000 level.

在比特币 (BTC) 价格近期飙升至 10 万美元以上之后，不到 1% 的比特币持有者仍处于亏损状态。

On-chain data shows that the vast majority of BTC addresses are now deep “in the money,” having purchased their coins at an average price below the current spot rate.

链上数据显示，绝大多数 BTC 地址现在都处于“资金充足”状态，他们以低于当前即期汇率的平均价格购买了代币。

Bitcoin Addresses Sitting Underwater At Current Price

比特币地址按当前价格处于水下

As Bitcoin trades very close to its all-time high, it is to be expected that few investors are left sitting at a loss.

由于比特币的交易价格非常接近历史高点，预计很少有投资者会亏损。

In a new post, market intelligence platform IntoTheBlock discussed the profit-loss distribution of the Bitcoin userbase after the recovery run that the cryptocurrency has seen.

在一篇新文章中，市场情报平台 IntoTheBlock 讨论了加密货币复苏后比特币用户群的利润损失分布。

“Only 380K addresses (less than 1%) bought BTC above the current price, and they're now sitting underwater,” noted the analytics firm.

该分析公司指出：“只有 38 万个地址（不到 1%）以高于当前价格的价格购买了 BTC，而他们现在正处于水下。”

Below is a chart shared by IntoTheBlock, showing the price ranges within which these few addresses still “underwater” bought their coins:

下面是 IntoTheBlock 分享的图表，显示了这几个仍处于“水下”状态的地址购买其代币的价格范围：

Bitcoin Holder Cost Basis Levels

比特币持有者成本基础水平

In the graph, the size of the dot corresponds to the amount of BTC that the holders last purchased within the corresponding price range.

图中，圆点的大小对应于持有者在相应价格范围内最后购买的BTC数量。

As you can see, there are only very small dots associated with the levels ahead of the current spot price, which now hovers around the $98,000 mark.

正如您所看到的，只有非常小的点与当前现货价格之前的水平相关，当前现货价格目前徘徊在 98,000 美元大关附近。

The ranges ahead of the present level of BTC contain the cost basis of around 380,000 addresses. This may sound like a lot, but given the sheer size of the BTC userbase, this number makes up for less than 1% of all holders of the asset.

BTC 目前水平之前的范围包含约 380,000 个地址的成本基础。这听起来可能很多，但考虑到 BTC 用户群的庞大规模，这个数字只占该资产所有持有者的不到 1%。

Holder cost basis levels are considered important in on-chain analysis due to the fact that investors are more prone to making moves whenever their profit-loss status is about to flip.

持有者成本基础水平在链上分析中被认为很重要，因为投资者在利润损失状态即将发生变化时更容易采取行动。

For instance, holders who were in loss prior to the retest (that is, when the retest takes place from below) might respond by selling, as they could fear the price would go down again in the future, making this potentially their only opportunity in the near term to get their money back.

例如，在重新测试之前（即，当从下方进行重新测试时）处于亏损状态的持有者可能会通过出售来应对，因为他们可能担心未来价格会再次下跌，这可能是他们唯一的机会短期内收回他们的钱。

This selling can visibly affect Bitcoin if the level being retested contains the acquisition level of a large amount of investors. At present, though, the ranges ahead of the asset are clearly quite thin with addresses, meaning they should likely offer little in the way of resistance from such panic sellers.

如果重新测试的水平包含大量投资者的收购水平，这种抛售可能会明显影响比特币。不过，目前该资产的地址范围显然相当窄，这意味着它们可能不会对此类恐慌性卖家产生多大的阻力。

Bitcoin Price Analysis: What To Expect Next?

比特币价格分析：接下来会发生什么？

At the time of writing, Bitcoin trades at $97,900, showing a 3% gain over the past week and a 10% loss in the last 30 days.

截至撰写本文时，比特币交易价格为 97,900 美元，过去一周上涨 3%，过去 30 天下跌 10%。

After failing to hold onto the $100,000 level, BTC has been consolidating within a narrow range as bulls and bears both prepare for the next directional move.

在未能守住 10 万美元水平后，BTC 一直在窄幅区间内盘整，多头和空头都在为下一个方向性走势做准备。

The cryptocurrency has shown resilience at the $96,000 support, but whether it can continue making higher highs remains to be seen, especially with almost all investors now sitting in gains.

该加密货币在 96,000 美元的支撑位上表现出了韧性，但它是否能继续创出更高的高点仍有待观察，尤其是在几乎所有投资者现在都在获利的情况下。

Some of these profitable holders may be looking to cash out a portion of their holdings, which could introduce some selling pressure in the near term.

其中一些盈利的持有者可能会寻求兑现部分持股，这可能会在短期内带来一些抛售压力。