比特币（BTC）MVRV比率下降到关键$ 95,000的价格水平以下，这引起了人们对集会的稳定的担忧

由于比特币在较宽的加密市场条件下损失了关键的95,000美元价格水平，因此市场动态的几个关键方面已进入负面领域。

Since Bitcoin lost the key $95,000 price level following a weakened broader crypto market condition, several crucial aspects in its market dynamics have moved into negative territories. The recent weakness in dynamics is particularly evidenced in the Bitcoin MVRV Ratio, raising concerns about the stability of its rally.

由于比特币在较宽的加密市场条件下损失了关键的95,000美元价格水平，因此市场动态的几个关键方面已进入负面领域。在比特币MVRV比率中尤其证明了动力学的近期弱点，这引起了人们对集会稳定性的担忧。

MVRV For Bitcoin Pulls Back Sharply

比特币的MVRV急剧拉回

Highlighting a potential shift in BTC’s market dynamics, on-chain data and financial analytics firm Glassnode has reported a drop in Bitcoin’s Market Value to Realized Value (MVRV) Ratio.

强调了BTC市场动态的潜在转变，链上数据和财务分析公司GlassNode报告了比特币的市场价值与已实现价值（MVRV）比率下降。

This comes as prices are currently trading close to important support levels, while a decrease in the MVRV Ratio could indicate that the recent surge is losing steam.

这是因为当前价格接近重要的支持水平，而MVRV比率下降可能表明最近的激增正在失去蒸汽。

The on-chain platform explained that the MVRV Ratio has pulled back to the long-term mean at the 1.74 level. This important reset level has historically been linked to periods of consolidation or corrective movement, generating questions about the current state of the market.

该链平台解释说，MVRV比率已在1.74级的长期平均值中撤回。从历史上看，这种重要的重置水平与巩固或矫正运动时期有关，引起了有关市场状况的问题。

It is worth noting that the last time the ratio was at this level was in August last year. Like the unwind in August 2024, this drop represents a cooling of unrealized profits. However, if the critical 1.74 mark is held strongly, it might serve as a robust support zone for BTC against mounting bearish pressure as it gears up for its next leg higher.

值得注意的是，该比率是去年八月的最后一次。就像2024年8月的Undind一样，这次下降代表了未实现的利润的冷却。但是，如果强烈地持有关键的1.74标记，它可能是BTC的强大支撑区，以防止越来越多的看跌压力，因为它为下一个腿较高而升高。

Despite the Bitcoin MVRV Ratio suggesting a weakening market momentum, a significant portion of BTC’s overall supply is still in profit, which acts as a classic precursor to heightened investor euphoria.

尽管比特币MVRV比率表明市场势头减弱，但BTC总体供应的很大一部分仍在获利，这是投资者增强的Euphoria的经典先驱。

This is evident as Glassnode noted that the percentage of supply in profit has climbed to 88%, with losses concentrating among buyers from the $95,000 and $100,000 price range. Usually, when most Bitcoin holders are sitting on gains, momentum picks up speed and pushes prices into parabolic territory.

这很明显，因为GlassNode指出，利润供应的百分比已攀升至88％，亏损集中在95,000美元和100,000美元的价格范围内。通常，当大多数比特币持有人坐在上面时，动量就会加快速度并将价格推向抛物线领土。

Therefore, this could be a sign that a rebound is on the horizon. As the percentage of supply in profit increases, there are speculations that BTC might be entering its next euphoric rally phase. According to Glassnode, this measure also recovered from its long-term mean, suggesting a general reset of investor expectations without a widespread capitulation.

因此，这可能表明反弹即将到来。随着利润供应量的增加，有些猜测是BTC可能会进入其下一个欣快的拉力赛阶段。根据GlassNode的说法，这项措施也从其长期平均值中恢复过来，这表明投资者期望的一般重置而没有广泛投降。

A Sign The Market Is Heading For Profit-Taking

市场正在盈利的标志

Another crucial metric that Glassnode has highlighted amid market changes is the Bitcoin Realized Profit/Loss Ratio.

在市场变化的情况下，玻璃节强调的另一个关键指标是比特币实现的利润/损失率。

After examining this metric closely, Glassnode revealed that the Profit/Loss ratio has moved back to levels above 1.0. Typically, when the metric moves above this level, it signals a shift toward profit-taking following growing volatility, but this could be good for the market.

在仔细检查了这一指标之后，玻璃节表明，利润/损失比率已移至1.0以上的水平。通常，当指标超过此级别时，它标志着波动性增长后向利润赚钱的转变，但这可能对市场有益。

The rebound supports the case for recovery since it shows that demand is just at the right amount to absorb profit realization and reflects improving market sentiment, noted Glassnode.

玻璃节指出，反弹支持了恢复的案例，因为它表明需求只有适当的量来吸收利润实现并反映了改善市场情绪。