比特幣的本地底部：玻璃節在前方的道路上的見解

比特幣接近本地底部嗎？ GlassNode的數據和鏈分析提供了對當前市場趨勢和潛在價格變動的關鍵見解。

The Bitcoin market is a rollercoaster, and everyone's trying to figure out when the next dip will end. Glassnode's on-chain analysis offers some clues. Let's dive into what they're saying about Bitcoin and finding that elusive local bottom.

比特幣市場是過山車，每個人都試圖弄清楚下一個下一次浸入何時結束。 GlassNode的鍊鍊分析提供了一些線索。讓我們深入了解他們對比特幣的評價，並找到難以捉摸的本地底層。

Post-ATH Contraction: Where Are We Now?

後收縮：我們現在在哪裡？

According to Glassnode, Bitcoin is currently in a post-ATH (All-Time High) contraction phase. This means we're seeing the aftermath of a significant peak, with the market trying to find its footing. A key factor in this phase is how short-term holders react to unrealized losses. Are they panic-selling, or are they holding strong?

根據GlassNode的說法，比特幣目前處於後（歷史高）收縮階段。這意味著我們看到了一個重大峰值的後果，市場試圖找到其基礎。在此階段的關鍵因素是短期持有人如何對未實現的損失做出反應。他們是驚慌失措還是堅強？

The $113K-$120K Accumulation Cluster

$ 113K- $ 120K累積集群

Glassnode has identified a dense cluster of Bitcoin accumulation between $113,000 and $120,000 since early July. This range is crucial because it represents a concentration of buyers who entered the market during that price window. If prices dip further, this zone could act as a critical resistance area. Holder behavior in this range will likely determine near-term price direction.

自7月初以來，GlassNode已確定了一塊濃密的比特幣積累群。這個範圍至關重要，因為它代表了在這個價格窗口中進入市場的購買者的集中。如果價格進一步降低，則該區域可以充當關鍵的阻力區域。在此範圍內的持有人行為可能會決定近期價格方向。

SOPR: Are We There Yet?

SOPR：我們在那裡嗎？

The Spent Output Profit Ratio (SOPR) is another metric Glassnode uses to gauge the likelihood of a local bottom. Currently, the 3-month SOPR is around 0.96-1.01, indicating mild loss-taking but still far from deep capitulation. Historically, a SOPR below 0.9 often signals conclusive selling waves, paving the way for a price bottom. We're not quite there yet, folks.

用過的產出利潤率（SOPR）是另一個用於衡量本地底部可能性的公制玻璃節。目前，3個月的SOPR約為0.96-1.01，表明輕度損失，但遠離深度投降。從歷史上看，低於0.9的SOPR通常會發出結論性的銷售波，為價格最低點鋪平了道路。伙計們，我們還不到那兒。

Accumulation Trend Score: A Sharp Reversal

累積趨勢得分：急劇逆轉

Interestingly, recent data shows a reversal in accumulation trends. Large holders (over 10,000 BTC) to small wallets (less than 1 BTC) appear to be in distribution, marking a shift from accumulation just a week prior when Bitcoin hit new all-time highs above $124,000. This suggests profit-taking is underway, which is common after record highs. The aggregate Accumulation Trend Score has been below 0.5 for several days, confirming this.

有趣的是，最近的數據顯示了積累趨勢的逆轉。大型持有人（超過10,000 BTC）到小錢包（少於1 BTC）似乎正在分配，這標誌著一周前比特幣在$ 124,000以上的新歷史最高點時的累積轉變。這表明利潤正在進行中，這是在創紀錄的高點之後常見的。幾天的總積累趨勢評分一直低於0.5，這證實了這一點。

A Word of Caution: August's Track Record

注意：八月的往績記錄

It's worth noting that August has historically been a tricky month for Bitcoin. The last three Augusts each saw corrections in the double-digit percentage range. So, while we're all eager to see a local bottom, history suggests we might need to brace ourselves for some volatility.

值得注意的是，八月在歷史上對於比特幣來說是一個棘手的月份。最後三個8月分別看到了兩位數百分比範圍的校正。因此，雖然我們都渴望看到當地的底部，但歷史表明我們可能需要為自己的波動做好準備。

The Bigger Picture

更大的圖片

While on-chain analysis provides valuable insights, it's essential to remember that the crypto market is influenced by various factors. Social engineering scams, like the recent $91.4 million Bitcoin theft, highlight the need for robust security measures and user education. These events can impact market sentiment and price movements.

雖然鏈分析提供了寶貴的見解，但必須記住，加密貨幣市場受到各種因素的影響。社會工程騙局，例如最近的9140萬美元比特幣盜竊，強調了對強大的安全措施和用戶教育的需求。這些事件會影響市場的情緒和價格變動。

Final Thoughts

最後的想法

So, is Bitcoin near a local bottom? Glassnode's data suggests we're still in the bottom formation phase, with key levels and metrics to watch. Remember, the crypto market is never boring! Stay informed, stay cautious, and who knows, maybe we'll all be celebrating a new bull run soon. Keep your eyes peeled and your wits about you, and happy trading, y'all!

那麼，比特幣在當地底部附近嗎？ GlassNode的數據表明我們仍處於底層階段，關鍵水平和指標值得關注。請記住，加密市場永遠不會無聊！保持告密性，保持謹慎，誰知道，也許我們都會很快慶祝新的公牛。讓您的眼睛剝皮，對您的智慧，並愉快地進行交易！