比特幣挖礦難度首度突破100T，小礦商壓力加大

比特幣算力（以 7 天移動平均線計算）上週創下 755 EH/s 的歷史新高。

Bitcoin (BTC) mining difficulty hit a record high of 101.65 trillion (T) Monday, adding to pressure on smaller miners, who may not have as much cash available as their publicly traded rivals to keep their rigs going.

週一，比特幣(BTC) 挖礦難度創下101.65 兆(T) 的歷史新高，這加大了小型礦商的壓力，這些礦商可能沒有與公開交易的競爭對手一樣多的現金來維持礦機運轉。

Mining difficulty measures how hard it is to discover new blocks on the Bitcoin blockchain. The network automatically adjusts every 2,016 blocks, or roughly every two weeks. This year, difficulty has adjusted 23 times, almost 60% of the time has seen a positive adjustment which makes the process harder. The higher the difficulty, the more strain on the mining industry to produce a block.

挖礦難度衡量的是在比特幣區塊鏈上發現新區塊的難度。網路每 2,016 個區塊（或大約每兩週）自動調整一次。今年，難度調整了23次，幾乎60%的時間都是積極調整，難度增加。難度越高，採礦業生產區塊的壓力就越大。

As mining is an extremely competitive and capital-intensive industry, smaller or private companies, whose access to cash may be more constrained than their publicly traded rivals, might need to sell their bitcoin production to fund operations.

由於採礦業是一個競爭極其激烈的資本密集型行業，小型或私營公司可能比其上市競爭對手更難獲得現金，因此可能需要出售其比特幣生產來為營運提供資金。

Bitcoin's mining difficulty hit an all-time high. What does it mean for BTC price?

比特幣挖礦難度創歷史新高。這對 BTC 價格意味著什麼？

Bitcoin's hashrate reached a new peak last week. Here's what this key metric can tell us about the state of the BTC market.

比特幣的算力上週達到了新的高峰。以下是這個關鍵指標可以告訴我們的有關 BTC 市場狀況的資訊。

By Shaurya Malwa - Nov 28, 2023 at 8:06 p.m.

作者：Shaurya Malwa - 2023 年 11 月 28 日晚上 8:06

Updated Nov 28, 2023 at 8:06 p.m.

更新於 2023 年 11 月 28 日晚上 8:06

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Bitcoin’s (BTC) mining difficulty hit an all-time high of 101.65 trillion (T) Monday, adding to pressure on smaller miners, who may not have as much cash available as their publicly traded rivals to keep their rigs going.

週一，比特幣 (BTC) 挖礦難度創下 101.65 兆 (T) 的歷史新高，這加大了小型礦商的壓力，這些礦商可能沒有與上市競爭對手一樣多的現金來維持礦機運轉。

Mining difficulty measures how hard it is to discover new blocks on the Bitcoin blockchain. The network automatically adjusts every 2,016 blocks, or roughly every two weeks. This year, difficulty has adjusted 23 times, almost 60% of the time has seen a positive adjustment which makes the process harder. The higher the difficulty, the more strain on the mining industry to produce a block.

挖礦難度衡量的是在比特幣區塊鏈上發現新區塊的難度。網路每 2,016 個區塊（或大約每兩週）自動調整一次。今年，難度調整了23次，幾乎60%的時間都是積極調整，難度增加。難度越高，採礦業生產區塊的壓力就越大。

As mining is an extremely competitive and capital-intensive industry, smaller or private companies, whose access to cash may be more constrained than their publicly traded rivals, might need to sell their bitcoin production to fund operations.

由於採礦業是一個競爭極其激烈的資本密集型行業，小型或私營公司可能比其上市競爭對手更難獲得現金，因此可能需要出售其比特幣生產來為營運提供資金。

Hashrate hits all-time high

算力創歷史新高

Bitcoin’s hashrate hit a record high on a seven-day moving average of 755 EH/s last week. Hashrate is the computational power required to mine and process transactions on a proof-of-work blockchain. At the end of October, hashrate surged almost 12% in one day, one of the biggest rises year-to-date, according to Glassnode data.

比特幣算力上週創下歷史新高，七日移動平均線為 755 EH/s。算力是在工作量證明區塊鏈上挖掘和處理交易所需的運算能力。根據 Glassnode 的數據，10 月底，算力在一天之內飆升近 12%，是今年迄今最大的漲幅之一。

Miners are, on average, spending 100% of the total mined supply. In October, there was a brief period of miners retaining a portion of their bitcoin, adding to treasury reserves after a massive depletion in August and September.

平均而言，礦工花費了開採總量的 100%。 10 月份，礦商曾短暫保留了部分比特幣，在 8 月和 9 月大幅耗儘後，增加了金庫儲備。

In this current epoch, miners are mining, on average, 450 bitcoin a day. If the whole lot is sold, that amounts to roughly $31.5 million of sell-side pressure.

在當前時代，礦工平均每天開採 450 個比特幣。如果全部出售，賣方壓力約為 3,150 萬美元。

Overall, this shows that miners are currently in a relatively healthy spot. The less they spend on the mined supply, the less sell-side pressure occurs.

總體而言，這表明礦工目前處於相對健康的狀態。他們在開採供應上的支出越少，賣方壓力就越小。

Bitcoin price stalls at $67.5K as traders anticipate next Federal Reserve meeting

由於交易員預計下一次聯準會會議，比特幣價格停滯在 67,500 美元

Bitcoin (BTC) price action stalled in a tight range Monday morning in Asia after hitting a record high the previous week.

比特幣（BTC）價格走勢在上週創下歷史新高後，週一上午在亞洲陷入窄幅波動。

By Shaurya Malwa - Nov 28, 2023 at 7:14 p.m.

作者：Shaurya Malwa - 2023 年 11 月 28 日晚上 7:14

Updated Nov 28, 2023 at 7:14 p.m.

更新於 2023 年 11 月 28 日晚上 7:14

Bitcoin (BTC) price stalled at $67,420 at press time Monday after hitting a record high the previous week. Markets are now pricing in the next Federal Reserve meeting, while key on-chain metrics show that miners are selling almost all of their bitcoin production.

比特幣 (BTC) 價格在上週創下歷史新高後，截至週一發稿時止步於 67,420 美元。市場目前正在對下一次聯準會會議進行定價，而關鍵的鏈上指標顯示，礦商正在出售幾乎所有的比特幣產量。

BTC/USD hit a new peak of $68,660 on the Bitstamp exchange on Thanksgiving Day, as reported by CoinDesk 23 TV. The price fell sharply after hitting the new high, dropping to lows of $66,160 on major spot exchanges.

根據 CoinDesk 23 TV 報道，感恩節當天，Bitstamp 交易所的 BTC/USD 觸及 68,660 美元的新高。價格創出新高後大幅下跌，主要現貨交易所跌至66,160美元的低點。

After the Thanksgiving price action, BTC/USD began to consolidate in a tighter range. The relative strength index (RSI) on the daily chart showed a bearish divergence from the highs, which could indicate that bullish momentum is slowing down. If the price continues to consolidate, a breakout either above the Thanksgiving highs or below the recent lows could determine the next leg of the trend.

感恩節價格走勢之後，比特幣/美元開始在更窄的區間內盤整。日線圖上的相對強弱指數（RSI）顯示與高點的看跌背離，這可能表明看漲勢頭正在放緩。如果價格繼續盤整，突破感恩節高點或低於近期低點可能會決定下一階段的趨勢。

On lower time frames, a bullish setup formed on the four-hour chart, as the price broke out of a descending triangle pattern (white) and hit resistance at the downtrend line (red). A breakout from this level could lead

在較低的時間範圍內，四小時圖表上形成看漲格局，價格突破下降三角形形態（白色）並在下降趨勢線（紅色）處遇到阻力。突破該水平可能會導致