比特币 MVRV 比率接近历史显着水平：是时候持有还是获利了结？

According to on-chain data analysis by Glassnode, Bitcoin is at a critical juncture. When BTC soared to $73,800 in March 2024, printing new all-time highs, the Bitcoin market reached a statistically significant level regarding on-chain unrealized profits, according to the Market Value to Realized Value (MVRV) ratio.

根据Glassnode的链上数据分析，比特币正处于关键时刻。当 BTC 在 2024 年 3 月飙升至 73,800 美元，创下历史新高时，根据市场价值与已实现价值 (MVRV) 比率，比特币市场的链上未实现利润达到了统计显着水平。

Bitcoin MVRV Ratio At Historically Significant Level: Time To Hold Or Take Profit?

The analytics platform notes that, historically, such levels have coincided with periods of market resistance. Therein, some holders often choose to take profits by exiting their positions. 

比特币 MVRV 比率处于历史显着水平：持有或获利的时间？分析平台指出，从历史上看，这种水平与市场阻力时期一致。其中，一些持有者往往会选择通过平仓的方式获利了结。

It remains to be seen whether the same will be replicated, and prices fall as holders make a profit. However, according to MVRV, this will likely happen if past performance guides.

相关阅读：FTX 的 Sam Bankman-Fried 今天被判刑：接下来会发生什么同样的事情是否会被复制还有待观察，随着持有者获利，价格会下跌。然而，根据 MVRV 的说法，如果以过去的表现为指导，这种情况很可能会发生。

Simply put, the MVRV ratio shows how expensive the coin is relative to historical prices. It is a tool for gauging whether Bitcoin, as it is at spot rates, is under or overvalued. When the ratio is above 1, it suggests that it is overvalued.

BTC MVRV 频段 |来源：X 上的 Glassnode 简而言之，MVRV 比率显示了代币相对于历史价格的昂贵程度。它是一种衡量比特币（以即期汇率计算）是否被低估或高估的工具。当该比率高于1时，表明其被高估。

When BTC rose to approximately $74,000, the MVRV ratio rose above 3. However, it should be noted that it was way lower than historical levels when Bitcoin registered new all-time highs. When BTC rose to $69,000 in 2021, the MVRV ratio was over 5. At the 2017 peak, this value was over 4.8, which is the highest it has been.

当BTC升至约74,000美元时，MVRV比率升至3以上。但值得注意的是，该比率远低于比特币创下历史新高时的历史水平。当BTC在2021年升至69,000美元时，MVRV比率超过5。在2017年的峰值时，该值超过4.8，这是有史以来的最高值。

BTC Has Been Under Pressure, Will Prices Recover?

Recently, Bitcoin has struggled to edge higher, looking at price action in the daily chart. The coin remains below all-time highs of $73,800. Even though bulls shook off selling pressure over the weekend, pushing strongly above resistance levels, the follow-through has not been impressive. 

比特币一直面临压力，价格会复苏吗？最近，从日线图上的价格走势来看，比特币一直在努力走高。该代币仍低于 73,800 美元的历史高点。尽管多头在周末摆脱了抛售压力，强势突破阻力位，但后续走势并不令人印象深刻。

Any breakout above $74,000 from the candlestick arrangement will thrust the coin into new territory. Some analysts speculate the coin might float to as high as $100,000 in 2024, especially after the network halves its miner rewards in April 2024.

比特币价格在日线图上呈上升趋势|资料来源：Binance 上的 BTCUSDT、TradingView 烛台排列中任何突破 74,000 美元的突破都将推动该代币进入新的领域。一些分析师推测，该代币的价格可能会在 2024 年上涨至 10 万美元，尤其是在 2024 年 4 月网络将矿工奖励减半之后。

Despite the recent sell-off pushing prices to around $62,000, the overall market sentiment remains bullish. The CoinStats Fear and Greed Index, a gauge of investor sentiment, still reads “Extreme Greed” at 80.

相关阅读：纹波与波动SEC 传奇：法律专家揭开“更大的争论” 尽管最近的抛售将价格推至 62,000 美元左右，但整体市场情绪仍然看涨。衡量投资者情绪的 CoinStats 恐惧和贪婪指数仍然为“极度贪婪”，为 80。

Additionally, interest is back after days of outflows from spot Bitcoin exchange-traded funds (ETFs). By March 27, Lookonchain data shows that Fidelity added added 4,001 BTC. In total, and factoring in GBTC’s outflow, all spot Bitcoin ETF issuers added 3,469 BTC.

比特币情绪数据|资料来源：CoinStats 此外，在现货比特币交易所交易基金（ETF）连续几天流出之后，利息又回来了。截至 3 月 27 日，Lookonchain 数据显示 Fidelity 新增了 4,001 BTC。考虑到 GBTC 的流出，所有现货比特币 ETF 发行人总共增持了 3,469 BTC。

特征图片来自 Canva，图表来自 TradingView