鏈上的數據表明，比特幣可能會遇到低阻力，$ 100,000及以後

嚴格的編輯政策，側重於準確性，相關性和公正性

On-chain data suggests Bitcoin may encounter low resistance at $100,000 and beyond, at least from the perspective of investor cost basis distribution.

鏈上的數據表明，至少從投資者成本基礎分配的角度來看，比特幣可能會遇到100,000美元及以上的低阻力。

A Low Amount Of Bitcoin Supply Has Cost Basis At Levels AheadIn a new post by institutional DeFi solutions provider Sentora (formerly IntoTheBlock), the various Bitcoin price ranges are discussed in terms of where investor cost bases fall as BTC approaches the $100,000 mark.

低量的比特幣供應在機構Defi Solutions提供商Sentora（以前是Intotheblock）的新職位中的級別上的成本基礎，討論了各種比特幣價格範圍，因為投資者的成本基礎在BTC接近100,000美元的位置。

The related data for the price ranges is shown in the chart below:

價格範圍的相關數據如下圖所示：

In the graph, the size of the dot corresponds to the amount of the Bitcoin supply that investors last purchased inside the associated price range. It would appear that all of the large dots are below the spot price following the latest rally, meaning that the levels that saw the most demand are now in the green.

在圖中，DOT的大小對應於投資者在相關價格範圍內最終購買的比特幣供應量。在最新集會之後，所有大點似乎都低於現貨價格，這意味著目前需求最大的水平是綠色。

It’s also evident that the ranges ahead (that is, those harboring the cost basis of underwater holders) have only small dots associated with them. In total, less than 3% of the cryptocurrency’s supply has its cost basis at these levels that lie above the spot price.

同樣很明顯，前方的範圍（即擁有水下持有人的成本基礎的範圍）只有與之相關的小點。總共，不到3％的加密貨幣供應在這些水平上的成本基礎高於現貨價格。

To any investor, their cost basis is an important level, so they may be more likely to show some kind of move when a retest of it happens. Generally, holders who were in the loss prior to this retest might incline toward reacting to it by selling their coins. This is because these investors may fear going back into loss again.

對於任何投資者而言，他們的成本基礎都是重要的水平，因此，當重新進行重新測試時，他們可能更有可能表現出某種舉動。通常，在重新測試之前遭受損失的持有者可能會通過出售硬幣來對其做出反應。這是因為這些投資者可能會擔心再次陷入損失。

Similarly, the profit investors could decide to buy more during a retesting of their acquisition mark, believing that the same level might end up being profitable again in the future.

同樣，利潤投資者可以決定在重新收購商標重新測試期間購買更多，並認為同一水平可能最終會在將來再次獲得盈利。

These buying and selling behaviors are naturally of no consequence to Bitcoin when only a few investors are displaying them. Tight price ranges where a large amount of investors share their cost basis, however, can produce a reaction sizable enough to affect the asset.

當只有少數投資者展示它們時，這些買賣行為自然不會對比特幣產生影響。緊張的價格範圍範圍很大，大量投資者共享其成本基礎，可以產生足夠大的反應以影響資產。

Clearly, Bitcoin only has such ranges left on the profit side, implying it has no major resistance levels ahead in terms of supply distribution. Thus, an exploration beyond $100,000 may not be hindered by break-even sellers.

顯然，比特幣僅在利潤方面剩下這樣的範圍，這意味著它在供應分配方面沒有主要的阻力水平。因此，超過100,000美元以上的探索可能不會受到銷售銷售商的阻礙。

Though, while this may true, the run could have something different to worry about: profit-selling. Usually, the more investors there are in gains, the more likely is a mass selloff to occur.

但是，儘管這可能是正確的，但運行可能會有所不同：盈利。通常，收益的投資者越多，發生大規模拋售的可能性就越大。

With the vast majority of the Bitcoin supply now in the green, it’s possible that profit-taking would become a threat to the rally. It only remains to be seen whether there would be enough incoming demand able to soak up the potential selling pressure or not.

隨著現在的絕大多數比特幣供應，綠色的供應可能會成為對集會的威脅。是否有足夠的需求能夠吸收潛在的銷售壓力，還有待觀察。

BTC Price

BTC價格

At the time of writing, Bitcoin is trading around $99,400, up more than 3% in the last week.

在撰寫本文時，比特幣的交易約為99,400美元，上週增長了3％以上。