比特幣（BTC）MVRV比率下降到關鍵$ 95,000的價格水平以下，這引起了人們對集會的穩定的擔憂

由於比特幣在較寬的加密市場條件下損失了關鍵的95,000美元價格水平，因此市場動態的幾個關鍵方面已進入負面領域。

Since Bitcoin lost the key $95,000 price level following a weakened broader crypto market condition, several crucial aspects in its market dynamics have moved into negative territories. The recent weakness in dynamics is particularly evidenced in the Bitcoin MVRV Ratio, raising concerns about the stability of its rally.

由於比特幣在較寬的加密市場條件下損失了關鍵的95,000美元價格水平，因此市場動態的幾個關鍵方面已進入負面領域。在比特幣MVRV比率中尤其證明了動力學的近期弱點，這引起了人們對集會穩定性的擔憂。

MVRV For Bitcoin Pulls Back Sharply

比特幣的MVRV急劇拉回

Highlighting a potential shift in BTC’s market dynamics, on-chain data and financial analytics firm Glassnode has reported a drop in Bitcoin’s Market Value to Realized Value (MVRV) Ratio.

強調了BTC市場動態的潛在轉變，鏈上數據和財務分析公司GlassNode報告了比特幣的市場價值與已實現價值（MVRV）比率下降。

This comes as prices are currently trading close to important support levels, while a decrease in the MVRV Ratio could indicate that the recent surge is losing steam.

這是因為當前價格接近重要的支持水平，而MVRV比率下降可能表明最近的激增正在失去蒸汽。

The on-chain platform explained that the MVRV Ratio has pulled back to the long-term mean at the 1.74 level. This important reset level has historically been linked to periods of consolidation or corrective movement, generating questions about the current state of the market.

該鏈平台解釋說，MVRV比率已在1.74級的長期平均值中撤回。從歷史上看，這種重要的重置水平與鞏固或矯正運動時期有關，引起了有關市場狀況的問題。

It is worth noting that the last time the ratio was at this level was in August last year. Like the unwind in August 2024, this drop represents a cooling of unrealized profits. However, if the critical 1.74 mark is held strongly, it might serve as a robust support zone for BTC against mounting bearish pressure as it gears up for its next leg higher.

值得注意的是，該比率是去年八月的最後一次。就像2024年8月的Undind一樣，這次下降代表了未實現的利潤的冷卻。但是，如果強烈地持有關鍵的1.74標記，它可能是BTC的強大支撐區，以防止越來越多的看跌壓力，因為它為下一個腿較高而升高。

Despite the Bitcoin MVRV Ratio suggesting a weakening market momentum, a significant portion of BTC’s overall supply is still in profit, which acts as a classic precursor to heightened investor euphoria.

儘管比特幣MVRV比率表明市場勢頭減弱，但BTC總體供應的很大一部分仍在獲利，這是投資者增強的Euphoria的經典先驅。

This is evident as Glassnode noted that the percentage of supply in profit has climbed to 88%, with losses concentrating among buyers from the $95,000 and $100,000 price range. Usually, when most Bitcoin holders are sitting on gains, momentum picks up speed and pushes prices into parabolic territory.

這很明顯，因為GlassNode指出，利潤供應的百分比已攀升至88％，虧損集中在95,000美元和100,000美元的價格範圍內。通常，當大多數比特幣持有人坐在上面時，動量就會加快速度並將價格推向拋物線領土。

Therefore, this could be a sign that a rebound is on the horizon. As the percentage of supply in profit increases, there are speculations that BTC might be entering its next euphoric rally phase. According to Glassnode, this measure also recovered from its long-term mean, suggesting a general reset of investor expectations without a widespread capitulation.

因此，這可能表明反彈即將到來。隨著利潤供應量的增加，有些猜測是BTC可能會進入其下一個欣快的拉力賽階段。根據GlassNode的說法，這項措施也從其長期平均值中恢復過來，這表明投資者期望的一般重置而沒有廣泛投降。

A Sign The Market Is Heading For Profit-Taking

市場正在盈利的標誌

Another crucial metric that Glassnode has highlighted amid market changes is the Bitcoin Realized Profit/Loss Ratio.

在市場變化的情況下，玻璃節強調的另一個關鍵指標是比特幣實現的利潤/損失率。

After examining this metric closely, Glassnode revealed that the Profit/Loss ratio has moved back to levels above 1.0. Typically, when the metric moves above this level, it signals a shift toward profit-taking following growing volatility, but this could be good for the market.

在仔細檢查了這一指標之後，玻璃節表明，利潤/損失比率已移至1.0以上的水平。通常，當指標超過此級別時，它標誌著波動性增長後向利潤賺錢的轉變，但這可能對市場有益。

The rebound supports the case for recovery since it shows that demand is just at the right amount to absorb profit realization and reflects improving market sentiment, noted Glassnode.

玻璃節指出，反彈支持了恢復的案例，因為它表明需求只有適當的量來吸收利潤實現並反映了改善市場情緒。