比特币（BTC）接近历史高点，但关键指标闪烁警告信号

比特币最近创下了 92,326.13 美元的历史新高，激发了希望进一步上涨的投资者的兴奋。然而，有一些关键指标可能预示着价格调整的可能性。

Bitcoin recently hit a new all-time high. But what’s next for the world’s biggest cryptocurrency?

比特币最近创下了历史新高。但世界上最大的加密货币的下一步是什么？

Several key indicators could signal the potential for a price correction. Let’s break down the current market situation and explore what the MVRV ratio, Fear & Greed Index, Coin Days Destroyed (CDD), and Inter-Exchange Flow Pulse (IFP) can tell us about Bitcoin’s near future.

几个关键指标可能预示着价格调整的可能性。让我们分解一下当前的市场状况，并探讨 MVRV 比率、恐惧与贪婪指数、币毁天数（CDD）和交易所间流量脉冲（IFP）可以告诉我们比特币近期的未来。

MVRV Ratio: A Signal for Market Tops

MVRV 比率：市场见顶的信号

The MVRV (Market Value to Realized Value) ratio is one of the most important metrics for identifying market tops. It currently sits at 2.05, indicating that the average Bitcoin is priced at 2.05x its last purchase price.

MVRV（市场价值与已实现价值）比率是确定市场顶部的最重要指标之一。目前为 2.05，表明比特币的平均价格是上次购买价格的 2.05 倍。

In March, when Bitcoin's price reached $73,000, the MVRV ratio was at 2.75. On September 6, it dropped to 1.71, but has since rebounded sharply.

3月份，当比特币价格达到73,000美元时，MVRV比率为2.75。 9月6日跌至1.71，但此后大幅反弹。

If the MVRV ratio surpasses the 2.75 mark again, it could signal that Bitcoin has reached its peak price, warning investors that the market may be nearing its top.

如果MVRV比率再次突破2.75大关，则可能表明比特币价格已达到峰值，警告投资者市场可能已接近顶部。

Fear & Greed Index: Understanding Market Sentiment

恐惧与贪婪指数：了解市场情绪

The Crypto Fear & Greed Index is currently at 83, indicating “extreme greed” in the market. This is a classic warning sign for investors: when the Fear & Greed Index crosses the 80 threshold, it is often followed by a price correction.

加密货币恐惧与贪婪指数目前为 83，表明市场“极度贪婪”。对于投资者来说，这是一个典型的警告信号：当恐惧与贪婪指数突破 80 的门槛时，通常会出现价格调整。

As greed intensifies, so does the likelihood of a sudden market pullback. Investors may want to reconsider their risk management strategies and prepare for potential price drops.

随着贪婪加剧，市场突然回调的可能性也会增加。投资者可能需要重新考虑他们的风险管理策略，并为潜在的价格下跌做好准备。

Long-Term Holders Selling: Bitcoin Coin Days Destroyed (CDD)

长期持有者抛售：比特币硬币销毁天数（CDD）

Another telling metric is the Bitcoin Coin Days Destroyed (CDD) index, which currently stands at 36,654,904.70618499. This index tracks when Bitcoin that has been held for a long period is moved or sold.

另一个有说服力的指标是比特币销毁天数 (CDD) 指数，目前为 36,654,904.70618499。该指数追踪长期持有的比特币何时被转移或出售。

When CDD spikes above 15 to 20 million, it suggests that long-term holders are beginning to sell, which often occurs when these investors believe further price increases are unlikely.

当 CDD 飙升至 15 至 2000 万以上时，表明长期持有者开始抛售，这种情况通常发生在这些投资者认为价格不太可能进一步上涨时。

The current level of the CDD index could indicate that profit-taking is underway.

CDD 指数的当前水平可能表明获利了结正在进行中。

Inter-Exchange Flow Pulse: Tracking Market Sentiment

交易所间流量脉搏：追踪市场情绪

The Inter-Exchange Flow Pulse (IFP) index tracks the movement of Bitcoin between wallets and exchanges. It currently sits at 753.0127K.

交易所间流量脉冲（IFP）指数跟踪比特币在钱包和交易所之间的流动。目前其值为 753.0127K。

A sharp increase in Bitcoin being moved to derivative exchanges can be a bearish signal, as it often indicates that traders are preparing for potential price drops or increased volatility.

转移到衍生品交易所的比特币数量急剧增加可能是一个看跌信号，因为它通常表明交易者正在为潜在的价格下跌或波动性增加做好准备。

The recent spike in exchange inflows raises concerns about a possible correction, as large inflows tend to precede sell-offs.

最近外汇流入的激增引发了人们对可能出现的调整的担忧，因为大量资金流入往往先于抛售。