比特币（BTC）已实现上限创历史新高，预示看涨势头

比特币市场对价格波动并不陌生，投资者不断观察表明潜在变化的指标。有关该代币已实现上限的数据正在为看涨的叙述增添色彩。

Bitcoin’s [BTC] market is renowned for its price volatility, with investors keeping a close eye on metrics that could signal potential shifts. And now, data on the coin’s realized cap is adding weight to a bullish narrative.

比特币 [BTC] 市场以其价格波动而闻名，投资者密切关注可能预示潜在变化的指标。现在，有关该代币已实现上限的数据正在为看涨的叙述增添色彩。

Recently, Bitcoin’s realized cap saw a significant uptick, a shift that could be crucial in predicting BTC’s price direction. So, what does the rise in realized cap imply for BTC’s price trend? Let’s delve in.

最近，比特币的已实现上限大幅上升，这一转变对于预测比特币的价格走向至关重要。那么，已实现上限的上升对比特币的价格走势意味着什么？让我们深入研究一下。

Bitcoin sees record realized market capitalization

比特币实现市值创历史新高

The realized cap serves as an alternative to the market cap, accounting for each Bitcoin’s last acquisition cost instead of its current market value. It reflects the sentiment of holders who acquired BTC at different price points.

已实现上限是市值的替代方案，它考虑了每个比特币的最后购买成本，而不是其当前的市场价值。它反映了以不同价格点购买 BTC 的持有者的情绪。

Analysis of the metric on Glassnode showed that it has risen to around $663 billion, the highest in its history.

Glassnode 上的指标分析显示，该数字已升至 6630 亿美元左右，为历史最高水平。

A rising realized cap suggests that coins held by long-term investors are growing in value. This is a positive sign of market stability and investor confidence. The recent increase in Bitcoin’s realized cap indicated that more capital is flowing into BTC, even as the price fluctuates.

已实现上限的上升表明长期投资者持有的代币价值正在增长。这是市场稳定和投资者信心的积极迹象。最近比特币已实现上限的增加表明，即使价格波动，仍有更多资本流入比特币。

For Bitcoin, an increased realized cap often indicates less selling pressure among holders. An analysis of the realized cap showed that over the years, when the metric hits an all-time high, there is usually a price decline, followed by another all-time high for the coin.

对于比特币来说，实现上限的增加通常表明持有者的抛售压力较小。对已实现上限的分析表明，多年来，当该指标达到历史新高时，通常会出现价格下跌，然后该代币又创下历史新高。

With BTC’s realized cap reaching new highs, it shows that investors have added confidence in the cryptocurrency’s future price growth. This potentially reduces the supply available for trading.

随着比特币的实现上限创下新高，这表明投资者对加密货币未来价格增长的信心增强。这可能会减少可用于交易的供应量。

The impact on BTC’s price trend

对BTC价格走势的影响

The upward shift in realized cap could significantly impact Bitcoin’s price. As the realized cap grew, it suggested that more investors were holding onto their assets rather than selling.

已实现上限的上移可能会对比特币的价格产生重大影响。随着已实现上限的增长，这表明更多的投资者持有资产而不是出售资产。

This move could support BTC’s current price levels and provide a foundation for further price appreciation.

此举可能会支撑比特币当前的价格水平，并为价格进一步升值奠定基础。

Technical indicators, such as the moving averages on BTC’s price chart, corroborate this sentiment. At press time, BTC was trending above its 50-day and 200-day Moving Averages(MA), showing bullish momentum.

技术指标，例如比特币价格图表上的移动平均线，证实了这种情绪。截至发稿，BTC 趋势高于 50 日和 200 日移动平均线（MA），显示出看涨势头。

If the realized cap continues to grow, it may encourage more investors to buy and hold, contributing to sustained price support at higher levels.

如果已实现上限继续增长，可能会鼓励更多投资者买入并持有，从而为更高水平的价格提供持续支撑。

Key levels indicate BTC’s next move

关键水平预示着比特币的下一步走势

Analysis of data from Hyblock pointed out that Bitcoin was trading within a tight range between the previous day’s high (pdHigh) and the combined levels of the previous day’s open and equilibrium (pdOpen + pdEQ). Market dynamics suggested significant resistance and support zones at these levels.

Hyblock 的数据分析指出，比特币在前一天的高点（pdHigh）与前一天的开盘价和均衡价的组合水平（pdOpen + pdEQ）之间的窄幅区间内交易。市场动态表明这些水平存在显着的阻力和支撑区域。

According to the latest data, BTC faced resistance around the pdHigh, where a cluster of short liquidation levels indicates strong selling pressure.

根据最新数据，BTC 在 pdHigh 附近面临阻力，一系列空头清算水平表明强劲的抛售压力。

If Bitcoin breaches this level, it could trigger short liquidations, fueling upward momentum.

如果比特币突破这一水平，可能会引发空头清算，从而推动上涨势头。

On the support side, Bitcoin found strength around the pdOpen + pdEQ zone, providing a potential entry point for bullish traders. Long liquidation levels below the pdLow indicated additional support layers that could prevent a sharp decline, especially if buying interest increases.

在支撑方面，比特币在 pdOpen + pdEQ 区域附近发现了强势，为看涨交易者提供了潜在的切入点。低于 pdLow 的多头清算水平表明存在额外的支撑层，可以防止价格急剧下跌，特别是在购买兴趣增加的情况下。

This consolidation reflected a market in wait-and-see mode. It aligns with broader trends in Bitcoin’s rising realized cap. This highlights strong long-term holder confidence.

这种盘整反映出市场处于观望状态。它与比特币实现上限不断上升的更广泛趋势一致。这凸显了长期持有者的强劲信心。

What to expect in the coming months?

未来几个月会发生什么？

Historically, substantial price gains have often followed a rising realized cap during a BTC uptrend. This is because investor sentiment remains strong, and sell-offs are limited.

从历史上看，在比特币上涨趋势期间，价格的大幅上涨往往伴随着已实现上限的上升。这是因为投资者情绪依然强劲，抛售有限。

Bitcoin could be positioned for another rally if this trend continues, potentially reaching or even exceeding recent highs. Additionally, the Average True Range (ATR) values indicate manageable volatility, providing a stable environment for BTC’s continued growth.

如果这种趋势持续下去，比特币可能会迎来另一次反弹，有可能达到甚至超过近期高点。此外，平均真实波动幅度（ATR）值表明波动性可控，为比特币的持续增长提供了稳定的环境。

The rising realized cap suggests a strong foundation for Bitcoin’s price, as long-term holders show minimal intent to sell.

已实现上限的上升表明比特币的价格具有坚实的基础，因为长期持有者的出售意愿微乎其微。

If historical patterns hold, this trend could act as a launching pad for Bitcoin to achieve new price milestones.

如果历史模式成立，这一趋势可能成为比特币实现新价格里程碑的跳板。