比特币 (BTC) Puell 多重接近突破，预示着 90% 的潜在反弹

比特币的普埃尔倍数是分析挖矿盈利能力的关键指标，即将突破 365 天简单移动平均线 (SMA)

A key indicator for analyzing mining profitability is nearing a breakout that has historically marked the beginning of significant price rallies for Bitcoin, according to a CryptoQuant analyst.

CryptoQuant 分析师表示，分析挖矿盈利能力的一个关键指标即将突破，这在历史上标志着比特币价格大幅上涨的开始。

The Puell Multiple, which calculates the ratio between the daily value of newly issued Bitcoin and its 365-day moving average, offers insights into mining economics and market cycles.

Puell Multiple 计算新发行的比特币每日价值与其 365 天移动平均值之间的比率，提供对挖矿经济和市场周期的见解。

Miners, often seen as compulsory sellers due to operational costs, can significantly influence market prices through their revenue patterns. By identifying periods when Bitcoin’s daily issuance value deviates notably from historical norms, the indicator signals potential strategic entry and exit points for investors.

由于运营成本的原因，矿商通常被视为强制卖家，他们可以通过其收入模式显着影响市场价格。通过识别比特币每日发行价值显着偏离历史正常水平的时期，该指标为投资者发出了潜在的战略进入和退出点的信号。

“This multiple provides insight into the economics of Bitcoin mining and the broader market cycle,” the analyst noted. “Miners are often considered forced sellers due to their need to cover operational costs, which can significantly impact the market price of BTC.”

“这个倍数提供了对比特币挖矿经济学和更广泛市场周期的洞察，”分析师指出。 “矿工通常被认为是被迫卖家，因为他们需要支付运营成本，这可能会严重影响 BTC 的市场价格。”

Past instances of the Puell Multiple crossing above its 365-day SMA have signaled the start of strong price rallies, with an average gain of 90% in the following periods.

过去，普埃尔多重突破 365 天移动平均线的例子标志着价格强劲反弹的开始，在接下来的时期平均涨幅为 90%。

For example, Bitcoin went on to gain 83% after a similar crossover on March 30, 2019, followed by a 113% increase after January 8, 2020, and a 76% rise following January 9, 2024.

例如，比特币在 2019 年 3 月 30 日发生类似交叉后继续上涨 83%，随后在 2020 年 1 月 8 日后上涨 113%，在 2024 年 1 月 9 日后上涨 76%。

After bottoming out at $14,400 in March 2020, a sustained uptrend began as the Puell Multiple crossed above its 365-day SMA on January 8. This breakout coincided with a period of institutional interest and signaled the start of a bull market that saw Bitcoin reach new all-time highs.

在 2020 年 3 月触底于 14,400 美元后，随着普埃尔倍数于 1 月 8 日突破 365 日移动平均线，持续上升趋势开始。这次突破恰逢机构兴趣时期，标志着牛市的开始，比特币达到了新的水平。历史新高。

However, it's important to note that technical indicators alone do not guarantee future price movements, and investors should always conduct thorough analysis and consider a range of factors before making any trades.

然而，需要注意的是，技术指标本身并不能保证未来的价格走势，投资者在进行任何交易之前应始终进行彻底的分析并考虑一系列因素。