加密货币政策将使比特币成为储备货币output_title：比特币市场和挖矿数据

观点：1月13日至1月19日，比特币价格走势呈现一定波动。期间主要变化如下：

s economic policies may support Bitcoin prices above $100,000 for an extended period of time

经济政策可能会在较长一段时间内支持比特币价格超过 10 万美元

On January 16, according to CryptoQuant, Trump's economic policies may support Bitcoin prices above $100,000 for an extended period of time.

1 月 16 日，据 CryptoQuant 报道，特朗普的经济政策可能会在较长时间内支撑比特币价格在 10 万美元以上。

The analysis firm pointed out that Bitcoin prices soared above $100,000 on December 15, 2024, and maintained this level for 12 days before falling below $90,000 on January 4, 2025. However, Bitcoin prices quickly rebounded and returned to the six-figure mark on January 14, 2025.

该分析公司指出，比特币价格于2024年12月15日飙升至10万美元以上，并维持这一水平12天，然后于2025年1月4日跌破9万美元。不过，比特币价格迅速反弹，并于1月份重回六位数大关2025 年 14 日。

CryptoQuant stated that the key factor behind this sustained bullish momentum is Trump's economic policies. These policies include cutting taxes, reducing regulations and increasing government spending, which are generally favorable to risky assets such as Bitcoin. In addition, Trump's policies also focus on energy independence and reducing reliance on foreign energy, which may further support Bitcoin mining.

CryptoQuant表示，这种持续看涨势头背后的关键因素是特朗普的经济政策。这些政策包括减税、减少监管和增加政府支出，这些政策通常有利于比特币等风险资产。此外，特朗普的政策还注重能源独立，减少对外国能源的依赖，这可能会进一步支持比特币挖矿。

CryptoSlate: Bitcoin's realized price is approaching all-time highs and may provide support for further price increases

CryptoSlate：比特币已实现价格接近历史高位，可能为价格进一步上涨提供支撑

On January 17, according to CryptoSlate, Bitcoin's realized price has risen sharply in recent months, approaching all-time highs and providing support for further price increases.

1月17日，据CryptoSlate报道，近几个月来，比特币的变现价格大幅上涨，逼近历史高位，为价格进一步上涨提供支撑。

The realized price is calculated by dividing the market capitalization by the total number of circulating coins. It represents the average price at which all coins were last moved on-chain. As a key metric, realized price is often used to assess whether a coin is overvalued or undervalued.

实现价格是通过市值除以流通币总数来计算的。它代表所有代币最后一次在链上移动的平均价格。作为一个关键指标，已实现价格通常用于评估代币是否被高估或低估。

Currently, Bitcoin's realized price is around $23,000, approaching its all-time high of $24,000 set in December 2024. This indicates that most Bitcoin holders are in profit, which may provide support for further price increases.

目前，比特币的变现价格约为23,000美元，接近2024年12月创下的24,000美元的历史新高。这表明大多数比特币持有者都处于盈利状态，这可能为价格进一步上涨提供支撑。

output: Author: Monchi | Editor: Monchi

输出：作者：Monchi |编辑：蒙奇

2. Ethereum market and mining data

2. 以太坊市场和挖矿数据

From January 13 to January 19, the price of Ethereum showed a certain volatility. The main changes during this period are as follows:

1月13日至1月19日，以太坊价格呈现一定波动。期间主要变化如下：

On January 13, Ethereum opened at $4,160.8, rose to a high of $4,229.1, and reached a low of $4,098.6. The trading volume soared during US trading hours. After a sharp drop, it quickly rebounded and pulled back after falling below $4,000 for a short time. The panic greed index rose. On January 14, after opening at $4,233.2, it rebounded across the board and rose strongly to $4,338.6. On January 15, it remained around $4,330 and continued to fluctuate, showing an upward trend. In the evening of the 15th, it quickly rose to $4,400 and continued to successfully break through the psychological barrier of $4,500. The intraday high reached $4,596.9 and closed at $4,588.7. The sharp increase in trading volume showed that the market was strong in buying. On January 16, after a continuous small fluctuation and rise, the price slightly corrected due to profit-taking, reaching a low of $4,438.3 and closing at $4,596.7, but the market sentiment remained optimistic. From January 17 to 19, the price of Ethereum continued to rise, showing a steady upward trend. On January 17, after opening at $4,603.3, Ethereum stood firm at the psychological barrier of $4,600 and fluctuated slightly, continuing to rise, showing that the bullish force was still accumulating. On January 18, it briefly corrected to around $4,482.8 due to profit-taking, but the market quickly pulled back to $4,568.1, reflecting strong buying intentions. On January 19, the price of Ethereum continued to fluctuate and rise. As of the time of writing, Ethereum remained around $4,630, and the market sentiment remained optimistic, consolidating the bullish pattern.

1 月 13 日，以太坊开盘价 4,160.8 美元，最高升至 4,229.1 美元，最低探至 4,098.6 美元。美国交易时段交易量飙升。大幅下跌后，短暂跌破4000美元后迅速反弹回调。恐慌贪婪指数上升。 1月14日开盘于4233.2美元后，全线反弹，强势上涨至4338.6美元。 1月15日维持在4330美元附近，持续波动，呈上涨趋势。 15日晚间迅速上涨至4400美元，并继续成功突破4500美元心理关口。盘中最高触及4,596.9美元，收盘于4,588.7美元。成交量的大幅增加表明市场买盘强劲。 1月16日，在连续小幅波动上涨后，价格因获利了结而小幅回调，最低触及4,438.3美元，收盘于4,596.7美元，但市场情绪依然乐观。 1月17日至19日，以太坊价格持续上涨，呈现稳步上涨趋势。 1月17日，以太坊开盘于4603.3美元后，站稳4600美元心理关口，小幅波动，持续上涨，显示看涨力量仍在积聚。 1月18日，因获利了结而短暂回调至4,482.8美元附近，但市场迅速回调至4,568.1美元，反映出强劲的买盘意愿。 1月19日，以太坊价格持续震荡上涨。截至发稿，以太坊维持在4630美元附近，市场情绪依然乐观，巩固看涨格局。

Market dynamics and macro background

市场动态及宏观背景

1. Capital Flow

1、资金流向

According to the latest data from TheBlock, as of January 19, 2025, the total amount of ETH pledged by users in the Ethereum 2.0 deposit contract has reached 17.29 million ETH. At the current price of about $4,630, the total value of the pledged ETH is about 81.3 billion U.S. dollars.

根据TheBlock最新数据，截至2025年1月19日，用户在以太坊2.0充值合约中质押的ETH总量已达到1729万枚ETH。以目前约4630美元的价格计算，质押的ETH总价值约为813亿美元。

2. Technical pressure

2、技术压力

On Friday afternoon, Ethereum was trading around $4,680, having hit a new 2025 high of

周五下午，以太坊交易价格约为 4,680 美元，创下 2025 年新高