比特币（BTC）采矿盈利能力在三月急剧下降后于4月反弹

由于价格下跌和交易费用下降，比特币（BTC）矿工在3月面临的压力急剧下降。

Bitcoin (BTC) miners faced growing pressure in March as profitability declined sharply amid falling prices and transaction fees, a new report by investment bank Jefferies revealed on Thursday.

投资银行杰弗里斯（Jefferies）周四透露，比特币（BTC）矿工在3月的压力下急剧下降，盈利能力急剧下降。

However, this could change in April as the cryptocurrency’s price rebounded, hitting $85,000 and outpacing the broader U.S. stock market.

但是，随着加密货币的价格反弹，达到85,000美元，超过了更广泛的美国股市，这可能会在4月改变。

The report, which assessed the activity of major U.S.-listed Bitcoin miners, highlighted a 7.4% decrease in mining profitability over March. This was attributed to an 11.2% drop in the average BTC price and a 9.1% slide in transaction fees, two metrics which directly impact miner revenue.

该报告评估了美国主要上市比特币矿工的活动，该报告强调了3月的采矿盈利能力下降了7.4％。这归因于BTC的平均价格下跌了11.2％，交易费用9.1％幻灯片，两个指标直接影响矿工收入。

These two metrics, which directly impact miner revenue, signaled a challenging month for operators despite a rise in network contribution from U.S.-listed miners.

直接影响矿工收入的这两个指标表明，尽管美国上市矿工的网络贡献增加了运营商的一个挑战月份。

According to Jefferies, public mining companies in the U.S. mined a total of 3,534 BTC in March, up from 3,002 in February. Their share of the total Bitcoin network also rose to 24.8% from 23.6% the previous month.

根据杰富瑞（Jefferies）的说法，美国公共矿业公司在3月份总共开采了3,534 BTC，高于2月的3,002。他们在比特币网络中的份额也从上个月的23.6％上升到24.8％。

Marathon Digital Holdings (NASDAQ:NASDAQ:MDR) led production with 829 BTC mined, followed by CleanSpark (NASDAQ:CLSI) with 706 BTC. Despite the increase in production, the financial return diminished due to weaker pricing and fee structures across the network.

马拉松数字控股公司（NASDAQ：NASDAQ：MDR）以829 BTC开采领导生产，然后以706 BTC为CleanSpark（NASDAQ：CLSI）。尽管产量有所增加，但由于整个网络上的定价和费用结构较弱，财务回报却降低了。

While March saw a decline in profitability, Jefferies noted a different picture emerging in April. Though mining profitability data is not yet available, Bitcoin has shown surprising resilience. The cryptocurrency briefly rallied to $85,000 on Monday, fueled in part by easing trade concerns.

杰弗里斯（Jefferies）注意到4月份出现了不同的情况，而三月的盈利能力下降。尽管尚不可用采矿盈利能力数据，但比特币表现出令人惊讶的弹性。周一，加密货币在周一短暂地升至85,000美元，部分原因是缓解贸易问题。

According to CoinMarketCap data, Bitcoin traded at $84,702 at the time of reporting, up 7% over the past week. The 24-hour trading volume surged 37% to more than 35 billion, largely reflecting post-weekend activity. Market capitalization increased to $1.68 trillion.

根据CoinMarketCap数据，在报告时，比特币的交易价格为84,702美元，在过去一周中增长了7％。 24小时的交易量飙升了37％，至350亿多，主要反映了周末的活动。市值增加到1.68万亿美元。

Key Levels To Watch

观看的关键水平

The immediate price resistance level is currently at $87,800. On-chain data suggests significant liquidity has built up at this level, where many traders have placed stop or limit orders.

目前，立即的价格阻力水平为87,800美元。链上的数据表明，在此级别上已经建立了大量流动性，许多交易者已下达停止或限制订单。

A move beyond this threshold with high volume could trigger a bullish breakout and push BTC into new territory. The next resistance level is at $90K. Alternatively, if bears defend the level aggressively, the market could see a rejection and short-term correction.

超出此阈值的移动可能会引发看涨的突破，并将BTC推向新领域。下一个电阻水平为$ 90K。另外，如果熊队积极捍卫水平，市场可能会看到拒绝和短期纠正。

For now, traders are watching closely as Bitcoin hovers just below this inflection point.

目前，当比特币徘徊在此拐点以下时，交易者正在密切关注。

Despite the headwinds faced in March, the early April performance may provide some relief for miners, especially if the current momentum sustains. But with mining rewards halving on the horizon, the profitability calculus could change rapidly once again.

尽管三月份面临逆风，但4月初的表演可能会为矿工提供一些缓解，尤其是在当前的势头维持下去时。但是，随着采矿奖励逐渐减半，盈利能力计算可能会再次变化。