利潤中的比特幣供應已超過87％

鏈上數據顯示，利潤的比特幣供應最近見證了急劇增長。這是當前水平是否被認為很高。

On-chain data shows the Bitcoin Supply in Profit has witnessed a sharp increase recently. Here’s whether the current level is considered high or not.

鏈上數據顯示，利潤的比特幣供應最近見證了急劇增長。這是當前水平是否被認為很高。

Bitcoin Supply In Profit Crosses 87% Mark As Price Rallies

隨著價格集會，利潤中的比特幣供應量超過87％

隨著價格集會，利潤中的比特幣供應量超過87％

According to the latest weekly report from Glassnode, the Bitcoin Supply in Profit has seen some improvement with the recent rally in the cryptocurrency’s price.

根據GlassNode的最新每週報告，隨著加密貨幣價格最近的集會，利潤的比特幣供應有所改善。

The “Supply in Profit” here refers to an on-chain indicator that keeps track of the percentage of the total BTC supply that’s currently being held at some unrealized gain. The metric works by going through the transaction history of each coin in circulation to see what price it was last moved at. If this last transaction value of any coin is lower than the current spot price for any coin, then that particular token is assumed to be carrying a gain and the Supply in Profit includes it in its value.

這裡的“盈利供應”是指一個鏈上的指標，該指標跟踪目前以一定未實現的收益持有的BTC供應的百分比。該指標是通過瀏覽每枚硬幣的交易歷史記錄，以查看最後一次轉移的價格。如果任何硬幣的最後一次交易價值低於任何硬幣的當前現貨價格，那麼假定該特定令牌卻帶有收益，並且利潤供應的供應包括其價值。

There is also an alternate indicator known as the Supply in Loss that deals with the coins of the opposite type (that is, those with a cost basis higher than the latest price). The two metrics must sum up to 100%, so if one is known, the other can simply be calculated by subtracting it from 100.

還有一個替代指標稱為損失的供應，涉及相反類型的硬幣（即成本基礎高於最新價格的硬幣）。這兩個指標必須總計高達100％，因此，如果知道一個指標，則可以簡單地從100中減去另一個度量。

As displayed in the above graph, the Bitcoin Supply in Profit has seen a notable jump recently. The reason behind this rise in the indicator naturally lies in the fact that BTC’s price itself has gone up during this period.

如上圖所示，利潤中的比特幣供應最近有了顯著的跳躍。指標上升的原因自然在於，在此期間，BTC的價格本身已經上漲。

Following the increase, the metric has reached a value of 87.3%. Interestingly, the last time that BTC was trading around $94,000, the indicator was only sitting at a value of 82.7%. This would imply that almost 5% of the supply that was purchased at the bull run highs has since changed hands at the recent lower price levels.

增加之後，該度量達到87.3％。有趣的是，BTC上次交易約94,000美元時，該指標的價值僅為82.7％。這意味著自那以後，在公牛奔跑高點購買的供應中，幾乎有5％在最近的較低價格水平上易手。

Generally, investors who are in profit are more likely to sell their coins. As such, in the past, BTC has tended to see overheating when the Supply in Profit reaches extreme levels.

通常，盈利的投資者更有可能出售其硬幣。因此，過去，BTC傾向於看到利潤供應達到極端水平時的過熱。

While this profit-taking can lead to a top for the asset, it can actually be a positive sign when Supply in Profit is able to sustain at high levels. This is because it indicates there is strong enough demand in the market that BTC is able to hold up its price despite the selling.

儘管這種利潤賺錢可能會導致資產的最高水平，但是當利潤能夠在高水平上維持供應時，它實際上可能是一個積極的信號。這是因為它表明市場上有足夠強的需求，即儘管銷售銷售，BTC仍能夠上漲。

“Historically, a typical euphoria phase tends to follow this metric stabilizing above 90% for an extended period, signaling widespread profitability and elevated investor confidence,” notes Glassnode. So far, BTC hasn't reached this phase yet.

GlassNode指出：“從歷史上看，典型的欣快階段往往會遵循這種指標穩定在長時間以上的90％以上，這表達了廣泛的盈利能力和提高投資者的信心。”到目前為止，BTC尚未達到此階段。

Bitcoin price has risen above $95,000 earlier today, but it seems the asset has seen a minor pullback as it's now back at $94,800.

比特幣價格今天早些時候上漲了95,000美元以上，但似乎這筆資產的回調似乎較小，因為現在又回到了94,800美元。