比特幣（BTC）價格返迴向上軌跡，超過了市場的收益1.7％

比特幣已經恢復了向上的軌跡，在過去24小時內，資產的增長率為1.7％，達到109,505美元。

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獅子和球員的足球價格有些柔和。每個arcu lorem，超級貴族，ullamcorper足球的仇恨。

Bitcoin price has returned to an upward trajectory, with the asset adding 1.7% in the last 24 hours to reach $109,505 by the time of writing. This marks a 4% increase over the past week, placing BTC less than 2% below its recent all-time high of $111,000.

比特幣價格已恢復到一個上升軌跡，在過去24小時內，資產增加了1.7％，到撰寫時間達到109,505美元。這比過去一周增長了4％，使BTC比最近有史以來111,000美元的歷史高點不到2％。

The move comes after a period of relatively subdued market activity, with recent gains unfolding in a quiet trading volume regime. As such, analysts have turned to on-chain indicators for signals of whether the current price action is sustainable or approaching overheated levels.

此舉是在一段相對柔和的市場活動之後進行的，最近在安靜的交易量製度中展開了收益。因此，分析師已轉向鏈上指標，以表明當前價格行動是可持續的還是接近過熱水平的信號。

Particularly, unlike previous rallies that were driven by sharp price spikes and speculative retail demand, the latest growth appears more measured. This has prompted the assessment of metrics such as Binary Coin Days Destroyed (CDD) , MVRV ratio, and exchange premium indexes to gauge underlying investor behavior and sentiment.

尤其是，與以前的集會不同，這些集會是由價格尖峰和投機性零售需求驅動的，最新的增長似乎更為衡量。這促使評估諸如二進制硬幣日（CDD），MVRV比率和交換保費指數等指標，以衡量投資者的行為和情感。

Bitcoin price moves up less than 2% in淡季, analysis shows crypto behemoths are calmly accumulating. Credit: Benzinga

比特幣價格在淡季中的上漲不到2％，分析表明，加密龐然大物正在平靜地積累。學分：苯金加

According to an analysis published on CryptoQuant’s QuickTake platform by contributor Avocado Onchain, Bitcoin’s current rally is unfolding under relatively stable conditions.

根據撰稿人鱷梨·諾克（Avocado Onchain）在CryptoQuant的Quicktake平台上發表的分析，比特幣的當前集會在相對穩定的條件下正在展開。

The analyst highlights a decreasing 30-day moving average of Binary CDD, which measures the spending behavior of long-term holders. This decrease suggests that these holders are not yet exiting the market en masse, signaling a continued confidence in the asset’s potential for further gains.

分析師強調了二進制CDD的30天移動平均值降低，這衡量了長期持有人的支出行為。這種下降表明，這些持有人尚未大規模退出市場，這表明對資產進一步收益的潛力持續信心。

Another notable indicator is the Coinbase Premium Index, which measures the difference between Bitcoin prices on US-based Coinbase and other global exchanges. This premium is increasing and nearing the levels observed during Bitcoin’s prior peaks in March and December 2024.

另一個值得注意的指標是Coinbase Previum指數，該指數衡量了美國基於美國的Coinbase和其他全球交易所的比特幣價格之間的差額。該溢價正在增加，並接近2024年3月和12月比特幣先前的高峰期間觀察到的水平。

While a sustained or rapidly increasing premium can be a potential indication of price overheating or an impending correction, Avocado notes that the Korea Premium Index remains low, implying muted activity from retail traders in Asia. This balance suggests that institutional buying pressure, particularly from US-based investors, could be driving the recent momentum.

儘管持續或迅速增加的溢價可能是價格過熱或即將進行的更正的潛在跡象，但鱷梨指出，韓國保費指數仍然很低，這意味著亞洲零售商人的活動繁重。這種平衡表明，機構購買壓力，尤其是來自美國投資者的機構購買壓力可能會推動最近的勢頭。

In addition, the MVRV ratio, a comparison of Bitcoin’s market value to its realized value, has been rising gradually without any sharp jumps or reaching extreme levels. This suggests that the market has not entered an extreme greed phase, which could indicate that the current uptrend may have more room to run before encountering strong resistance.

此外，MVRV比比特幣的市場價值與其實現價值的比較逐漸上升，而沒有任何急劇的跳躍或達到極端水平。這表明市場尚未進入極端的貪婪階段，這可能表明當前的上升趨勢可能在遇到強烈的阻力之前可能有更多的運行空間。

“In summary, rather than indicating an anticipation of an impending correction, the current indicators suggest that Bitcoin may still have some potential for further growth, and it could be a good time to carefully monitor the possibility of continued upside in the market,” Avocado concludes.

鱷梨總結說：“總而言之，目前的指標並沒有指出預期即將進行的校正，而是表明比特幣仍然有進一步增長的潛力，這可能是仔細監視市場上持續上漲可能性的好時機。”

Coinbase premium surges as US investors pour into Bitcoin

當美國投資者投入比特幣時

In a separate post on the same platform, another CryptoQuant contributor, Crypto Dan, highlighted the consistent buying activity from larger market players.

在同一平台上的另一篇文章中，另一個加密貢獻者Crypto Dan強調了來自較大市場參與者的持續購買活動。

His report notes that the Coinbase Premium has been increasing steadily since April 21, signaling increased demand from US investors, who have been accumulating BTC in a manner that is heating up the Coinbase exchange.

他的報告指出，自4月21日以來，Coinbase Premium一直在穩步增長，這表明了美國投資者的需求增加，美國投資者的需求一直在積累BTC，以加熱Coinbase Exchange的方式。

This trend, observed in the widening differential between Coinbase and other global exchanges, is becoming more apparent with each passing day, as seen in the chart below.

如下圖所示，在Coinbase和其他全球交流之間的擴大差異中觀察到的這一趨勢變得越來越明顯。

The analyst further noted that such patterns are characteristic of post-correction recovery phases in Bitcoin’s historical price cycles. So far, the combination of long-term holder conviction, institutional demand, and relative absence of exuberant retail activity suggests the rally may be advancing on more stable footing than prior surges.

分析師進一步指出，這種模式是比特幣歷史價格週期中校正後恢復階段的特徵。到目前為止，長期持有人定罪，機構需求以及相對缺乏繁榮的零售活動的結合表明，集會可能比以前的激增更穩定。