链上的数据表明，比特币可能会遇到低阻力，$ 100,000及以后

严格的编辑政策，侧重于准确性，相关性和公正性

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

链上的数据表明，至少从投资者成本基础分配的角度来看，比特币可能会遇到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.

低量的比特币供应在机构Defi Solutions提供商Sentora（以前是Intotheblock）的新职位中的级别上的成本基础，讨论了各种比特币价格范围，因为投资者的成本基础在BTC接近100,000美元的位置。

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

价格范围的相关数据如下图所示：

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.

在图中，DOT的大小对应于投资者在相关价格范围内最终购买的比特币供应量。在最新集会之后，所有大点似乎都低于现货价格，这意味着目前需求最高的水平是绿色。

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.

同样很明显，前方的范围（即拥有水下持有人的成本基础的范围）只有与之相关的小点。总共，不到3％的加密货币供应在这些水平上的成本基础高于现货价格。

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.

对于任何投资者而言，他们的成本基础都是重要的水平，因此，当重新进行重新测试时，他们可能更有可能表现出某种举动。通常，在重新测试之前遭受损失的持有者可能会通过出售硬币来对其做出反应。这是因为这些投资者可能会担心再次陷入损失。

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.

同样，利润投资者可以决定在重新收购商标重新测试期间购买更多，并认为同一水平可能最终会在将来再次获得盈利。

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.

当只有少数投资者展示它们时，这些买卖行为自然不会对比特币产生影响。但是，大量投资者共享成本基础的价格范围范围很大，可以产生足够大的反应以影响资产。

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.

显然，比特币仅在利润方面剩下这样的范围，这意味着它在供应分配方面没有主要的阻力水平。因此，超过100,000美元以上的探索可能不会受到销售销售商的阻碍。

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，尽管这可能是正确的，但运行可能会有所不同：盈利。通常，收益的投资者越多，发生大规模抛售的可能性就越大。

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.

随着现在的绝大多数比特币供应，绿色的供应可能会成为对集会的威胁。是否有足够的需求能够吸收潜在的销售压力，还有待观察。

BTC Price

BTC价格

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

在撰写本文时，比特币的交易约为99,400美元，上周增长了3％以上。