比特幣（BTC）目前正在以40％的折扣交易其內在價值

數據表明，比特幣目前以40％的折扣進行交易。

Key takeaways:

關鍵要點：

Capriole Investments founder Charles Edwards has pointed out that Bitcoin is currently trading at a 40% discount to its intrinsic value.

Capriole Investments創始人查爾斯·愛德華茲（Charles Edwards）指出，比特幣目前正在以40％的折扣交易其內在價值。

According to recent data from CryptoQuant, over 8,756 BTC was withdrawn from Coinbase on April 24.

根據CryptoQuant的最新數據，4月24日從Coinbase撤回了超過8,756 BTC。

Furthermore, Binance experienced exchange outflows of 27,750 BTC on April 25, marking the third largest Bitcoin outflow in the exchange’s history.

此外，Binance在4月25日經歷了27,750 BTC的交換流出，標誌著交易所歷史上第三大比特幣流出。

The analysis suggests that the BTC price could surge above $100,000 if it continues on the same trajectory.

分析表明，如果BTC的價格繼續在同一軌跡上繼續上漲100,000美元。

Bitcoin (BTC) is currently trading at a 40% discount to its intrinsic value, according to Capriole Investments founder Charles Edwards. In a recent post on X, Edwards highlighted that since the April 2024 halving, which reduced block rewards to 3.125 BTC, Bitcoin’s energy value—an estimate based on mining costs and energy consumption—stands at $130,000. However, the cryptocurrency is currently trading at a price of $80,000, indicating a discount of $50,000 or 40%.

Capriole Investments創始人查爾斯·愛德華茲（Charles Edwards）表示，比特幣（BTC）目前正在以其內在價值折扣40％。愛德華茲（Edwards）在最近的一篇關於X的文章中強調說，自2024年4月以來，比特幣的能源價值（基於採礦成本和能源消耗）的估算值將塊獎勵降低到3.125 BTC，為130,000美元。但是，加密貨幣目前以80,000美元的價格交易，表明折扣為50,000美元或40％。

This analysis aligns with the recent data from CryptoQuant, which indicated that a significant amount of 8,756 BTC, valued at approximately $830 million, was withdrawn from Coinbase on April 24. Notably, Coinbase has been experiencing negative netflows for the past few months, which could be attributed to either institutional buying or ETF-related purchases reflecting underlying demand.

該分析與加密量的最新數據保持一致，該數據表明，4月24日從Coinbase撤回了大量的8,756 BTC，價值約8.3億美元。值得注意的是，Coinbase在過去幾個月中經歷了負面的Netflow，這可以歸因於機構購買或etf-eTf-Etf-Fryplede的購買措施。

This development lines up with the massive spot Bitcoin ETF inflows witnessed this week. Bloomberg ETF analyst Eric Balchunas suggests that institutions went on a $3 billion ‘Bitcoin bender’ over the past few days. Balchunas highlighted that the purpose-built Bitcoin (BTC) trust (ticker: BBT) saw an inflow of $2.4 billion on April 24, while the vanguard total world stock market etf (ticker: vti) saw an outflow of $1.1 billion on the same day.

這一發展與本週見證的大量斑點比特幣ETF的流入相一致。彭博ETF分析師埃里克·巴爾庫納斯（Eric Balchunas）建議，過去幾天，機構進行了30億美元的“比特幣彎管”。 Balchunas強調說，專用的比特幣（BTC）信託（股票：BBT）在4月24日的流入為24億美元，而Vanguard Total World Stock Market ETF（股票：VTI：VTI）在同一天看到了11億美元的流出。

However, despite the large outflows and positive price action, which suggest bullish tailwinds, Alphractal founder Joao Wedson warns that they do not automatically mean a continued rally. The analyst said, “people keep saying that the large Coinbase and Binance outflows mean that the bull market is continuing, but I’m not sure about that.”

然而，儘管出現了大量的流出和積極的價格行動，這表明看漲尾風，但字母創始人Joao Wedson警告說，它們並不意味著持續的集會。分析師說：“人們一直在說大型的共同基礎和binance溢出意味著牛市正在繼續，但我不確定這一點。”

Can this Bitcoin fractal pattern push BTC above $100K in April?

這個比特幣分形圖案可以將BTC推高超過$ 10萬美元嗎？

Bitcoin’s weekly performance showcases its highest return in 2025 and marks the most significant uptick since November 2024. Notably, not only do the returns display striking similarities, but the BTC price also reflects identical price action.

比特幣的每週性能在2025年展示了其最高回報，標誌著自2024年11月以來最重要的增長。值得注意的是，回報不僅顯示出驚人的相似之處，而且BTC價格也反映了相同的價格行動。

As depicted in the 1-day chart, Bitcoin is consolidating at a higher range following its breakout, mirroring its behavior from Q4, 2024. (circled). After a 13% rise between Nov. 5-9, BTC posted another 15% increase during Nov. 10-11. Notably, this breakout occurred during the weekend.

如1天圖中所示，比特幣在突破後的範圍更高範圍內鞏固，從而反映了第四季度，2024年（圓圈）的行為。在11月5日至9日之間增長了13％之後，BTC在11月10日至11日上漲了15％。值得注意的是，這種突破發生在周末。

Similarly, BTC prices have risen 11% between April 21-25. With the relative strength index (RSI) also exhibiting similar buying pressure, a 7-10% jump over the next few days could take BTC above $100,000.

同樣，在4月21日至25日之間，BTC價格上漲了11％。由於相對強度指數（RSI）也表現出相似的購買壓力，因此接下來的幾天中有7-10％的增長可能會使BTC超過100,000美元。

While these fractal patterns may tend to repeat, it’s crucial to remember that they aren't perfectly reliable. Unlike Q4, when Bitcoin entered price discovery and rallied without resistance, the current overhead resistance level at $96,100 could impede a breakout.

儘管這些分形模式可能會重複，但要記住它們並不是完全可靠的。與第四季度不同，當比特幣進入價格發現並沒有阻力的情況下集會時，目前的架空阻力水平為96,100美元可能會阻礙突破。