比特币（BTC）目前正在以40％的折扣交易其内在价值

数据表明，比特币目前以40％的折扣进行交易。

Key takeaways:

关键要点：

Capriole Investments founder Charles Edwards has pointed out that Bitcoin is currently trading at a 40% discount to its intrinsic value.

Capriole Investments创始人查尔斯·爱德华兹（Charles Edwards）指出，比特币目前正在以40％的折扣交易其内在价值。

According to recent data from CryptoQuant, over 8,756 BTC was withdrawn from Coinbase on April 24.

根据CryptoQuant的最新数据，4月24日从Coinbase撤回了超过8,756 BTC。

Furthermore, Binance experienced exchange outflows of 27,750 BTC on April 25, marking the third largest Bitcoin outflow in the exchange’s history.

此外，Binance在4月25日经历了27,750 BTC的交换流出，标志着交易所历史上第三大比特币流出。

The analysis suggests that the BTC price could surge above $100,000 if it continues on the same trajectory.

分析表明，如果BTC的价格继续在同一轨迹上继续上涨100,000美元。

Bitcoin (BTC) is currently trading at a 40% discount to its intrinsic value, according to Capriole Investments founder Charles Edwards. In a recent post on X, Edwards highlighted that since the April 2024 halving, which reduced block rewards to 3.125 BTC, Bitcoin’s energy value—an estimate based on mining costs and energy consumption—stands at $130,000. However, the cryptocurrency is currently trading at a price of $80,000, indicating a discount of $50,000 or 40%.

Capriole Investments创始人查尔斯·爱德华兹（Charles Edwards）表示，比特币（BTC）目前正在以其内在价值折扣40％。爱德华兹（Edwards）在最近的一篇关于X的文章中强调说，自2024年4月以来，比特币的能源价值（基于采矿成本和能源消耗）的估算值将块奖励降低到3.125 BTC，为130,000美元。但是，加密货币目前以80,000美元的价格交易，表明折扣为50,000美元或40％。

This analysis aligns with the recent data from CryptoQuant, which indicated that a significant amount of 8,756 BTC, valued at approximately $830 million, was withdrawn from Coinbase on April 24. Notably, Coinbase has been experiencing negative netflows for the past few months, which could be attributed to either institutional buying or ETF-related purchases reflecting underlying demand.

该分析与加密量的最新数据保持一致，该数据表明，4月24日从Coinbase撤回了大量的8,756 BTC，价值约8.3亿美元。值得注意的是，Coinbase在过去几个月中经历了负面的Netflow，这可以归因于机构购买或etf-eTf-Etf-Fryplede的购买措施。

This development lines up with the massive spot Bitcoin ETF inflows witnessed this week. Bloomberg ETF analyst Eric Balchunas suggests that institutions went on a $3 billion ‘Bitcoin bender’ over the past few days. Balchunas highlighted that the purpose-built Bitcoin (BTC) trust (ticker: BBT) saw an inflow of $2.4 billion on April 24, while the vanguard total world stock market etf (ticker: vti) saw an outflow of $1.1 billion on the same day.

这一发展与本周见证的大量斑点比特币ETF的流入相一致。彭博ETF分析师埃里克·巴尔库纳斯（Eric Balchunas）建议，过去几天，机构进行了30亿美元的“比特币弯管”。 Balchunas强调说，专用的比特币（BTC）信托（股票：BBT）在4月24日的流入为24亿美元，而Vanguard Total World Stock Market ETF（股票：VTI：VTI）在同一天看到了11亿美元的流出。

However, despite the large outflows and positive price action, which suggest bullish tailwinds, Alphractal founder Joao Wedson warns that they do not automatically mean a continued rally. The analyst said, “people keep saying that the large Coinbase and Binance outflows mean that the bull market is continuing, but I’m not sure about that.”

然而，尽管出现了大量的流出和积极的价格行动，这表明看涨尾风，但字母创始人Joao Wedson警告说，它们并不意味着持续的集会。分析师说：“人们一直在说大型的共同基础和binance溢出意味着牛市正在继续，但我不确定这一点。”

Can this Bitcoin fractal pattern push BTC above $100K in April?

这个比特币分形图案可以将BTC推高超过$ 10万美元吗？

Bitcoin’s weekly performance showcases its highest return in 2025 and marks the most significant uptick since November 2024. Notably, not only do the returns display striking similarities, but the BTC price also reflects identical price action.

比特币的每周性能在2025年展示了其最高回报，标志着自2024年11月以来最重要的增长。值得注意的是，回报不仅显示出惊人的相似之处，而且BTC价格也反映了相同的价格行动。

As depicted in the 1-day chart, Bitcoin is consolidating at a higher range following its breakout, mirroring its behavior from Q4, 2024. (circled). After a 13% rise between Nov. 5-9, BTC posted another 15% increase during Nov. 10-11. Notably, this breakout occurred during the weekend.

如1天图中所示，比特币在突破后的范围更高范围内巩固，从而反映了第四季度，2024年（圆圈）的行为。在11月5日至9日之间增长了13％之后，BTC在11月10日至11日上涨了15％。值得注意的是，这种突破发生在周末。

Similarly, BTC prices have risen 11% between April 21-25. With the relative strength index (RSI) also exhibiting similar buying pressure, a 7-10% jump over the next few days could take BTC above $100,000.

同样，在4月21日至25日之间，BTC价格上涨了11％。由于相对强度指数（RSI）也表现出相似的购买压力，因此接下来的几天中有7-10％的增长可能会使BTC超过100,000美元。

While these fractal patterns may tend to repeat, it’s crucial to remember that they aren't perfectly reliable. Unlike Q4, when Bitcoin entered price discovery and rallied without resistance, the current overhead resistance level at $96,100 could impede a breakout.

尽管这些分形模式可能会重复，但要记住它们并不是完全可靠的。与第四季度不同，当比特币进入价格发现并没有阻力的情况下集会时，目前的架空阻力水平为96,100美元可能会阻碍突破。