比特币算力飙升，预示着减半事件之前的看涨情绪

在减半事件发生之前，比特币的哈希率增加了 25%，表明看涨情绪和对比特币价值超过 100,000 美元的预期。尽管价格小幅下跌至 65,500 美元，但算力的飙升表明人们对比特币的长期前景和减半前持续增长的潜力充满信心。

Bitcoin Hashrate Surges Ahead of Halving Event: Bullish or Just Froth?

比特币算力在减半事件之前飙升：看涨还是泡沫？

Wall Street, take note. The Bitcoin hashrate is through the roof, up a whopping 25% in the three months leading up to the halving event. Miners are pouring their hard-earned cash into the network, betting big on Bitcoin breaking through the $100,000 barrier. This surge in hashrate is a clear sign of confidence in Bitcoin's long-term prospects, especially with all the institutional money starting to come in and the market sentiment being so rosy.

华尔街，请注意。比特币算力飙升，在减半事件前的三个月内飙升了 25%。矿工们将辛苦赚来的现金投入到网络中，押注比特币突破 10 万美元大关。算力的飙升清楚地表明人们对比特币的长期前景充满信心，尤其是在所有机构资金开始涌入且市场情绪如此乐观的情况下。

Is Bitcoin's Hashrate At All-Time Highs?

比特币的算力处于历史高位吗？

You got it. The Bitcoin hashrate is at an all-time high, signaling a massive leap in the network's security and resilience. This is a crucial metric that measures the power and safety of the network, so it's a big deal.

你说对了。比特币算力处于历史最高水平，标志着网络安全性和弹性的巨大飞跃。这是衡量网络功率和安全性的关键指标，因此意义重大。

What's the Story with Bitcoin's Price?

比特币的价格有什么故事？

Well, the price is a bit of a mixed bag right now. It's hovering around $65,500 as of March 21, 2024, but it's been pretty stable since the U.S. jobs data came in weaker than expected. The market seems to be taking a breather, but analysts like Michaël van de Poppe think it's just a matter of time before we see a new surge towards those record highs.

嗯，现在的价格有点参差不齐。截至 2024 年 3 月 21 日，该价格徘徊在 65,500 美元左右，但自从美国就业数据弱于预期以来，该价格一直相当稳定。市场似乎正在喘口气，但迈克尔·范·德·波普（Michaël van de Poppe）等分析师认为，我们看到新一轮飙升至历史新高只是时间问题。

Is the Market Still Bullish on Bitcoin?

市场仍然看好比特币吗？

Absolutely. Despite the price consolidation, the overall market sentiment is still optimistic. Traders are seeing this as a chance to get in on the action before the halving event, which is expected to send prices skyrocketing.

绝对地。尽管价格盘整，但整体市场情绪仍然乐观。交易员认为这是在减半事件之前介入的机会，预计减半事件将导致价格飙升。

Is the Hashrate Surge a Sign of a Sustained Bull Run?

算力飙升是持续牛市的迹象吗？

That's the million-dollar question, isn't it? Analysts like Aksel Kibar think this sideways trading phase is a good thing, allowing more people to get involved before the big breakout. He believes it's a sign of a more sustainable long-term trajectory rather than a parabolic price spike.

这是一个价值百万美元的问题，不是吗？ Aksel Kibar 等分析师认为，横盘交易阶段是一件好事，可以让更多人在大突破之前参与其中。他认为这是一个更可持续的长期轨迹的标志，而不是抛物线价格飙升。

But Wait, There's a Twist: Short-Term Selling Pressure

但等等，有一个转折：短期抛售压力

Here's where it gets interesting. Despite the soaring hashrate, on-chain data from Decentrader is showing some short-term selling pressure. The Spent Output Profit Ratio (SOPR) flipped negative on March 20th, marking only the fifth time this year. This could mean that some investors are cashing out at a loss, maybe driven by some nervousness in the market.

这就是有趣的地方。尽管算力飙升，但 Decentrader 的链上数据显示出一些短期抛售压力。 3 月 20 日，支出产出利润率 (SOPR) 出现负值，这是今年第五次。这可能意味着一些投资者可能因市场紧张情绪而亏损套现。

So, What's the Verdict?

那么，判决是什么？

It's a tale of two stories. The hashrate is screaming bull market, while the price is taking a breather and on-chain data hints at some selling pressure. The next few weeks leading up to the halving will be crucial in determining Bitcoin's next move.

这是两个故事的故事。算力正在进入牛市，而价格正在喘息，链上数据暗示存在一些抛售压力。减半前的几周对于决定比特币的下一步走势至关重要。