标题：一个关键指标达到前所未有的级别，比特币（BTC）集会到新的历史最高点。

最新的拉力赛将比特币（BTC）发送到新的历史最高点，这表现出很大的力量，因为一个关键指标达到前所未有的水平

The latest rally pushing Bitcoin (BTC) to new all-time highs is displaying a lot of strength as one key metric reaches unprecedented levels, according to digital asset analytics firm Glassnode.

根据数字资产分析公司GlassNode的数据，最新的拉力赛将比特币（BTC）推向了新的历史最高高点，它具有很大的力量，因为一个关键指标达到了前所未有的水平。

Glassnode says that Bitcoin’s Realized Cap, which records the price at which each coin was last moved and aims to gauge how many holders are in profit or at a loss, is hitting a new all-time high.

GlassNode说，比特币的实现帽子记录了每枚硬币上一次移动的价格，并旨在衡量有多少持有人的盈利或亏损，这是一个新的历史最高水平。

“Strength in the digital asset market remains robust with Bitcoin continuing to consolidate just beneath its all-time high of $109,000. The elevation in price has raised the profitability of the vast majority of market investors, with many seizing the opportunity to lock in profits. As a result, capital inflows have increased markedly, pushing the Realized Cap above $900 billion for the first time, a historic milestone that underscores the depth of liquidity in the market.”

“数字资产市场的实力仍然坚固，比特币继续巩固其历史最高高价109,000美元。价格上涨提高了绝大多数市场投资者的盈利能力，许多人夺取了将利润锁定的机会。结果，资本流入率显着增长，将实现的股票超过900亿美元推动了一流的企业，这是一定的居民，该公司是一定的居民，该公司的股票占有一致的企业，该公司的股票占有一席之地，该公司的股票效率是居住的居民。

Glassnode adds that Short-Term Holders (STHs), those entities that have held their coins for less than 155 days, have been selling at massive profits in the last month, while Bitcoin is absorbing the selling pressure.

GlassNode补充说，短期持有人（STH）是那些持有硬币不到155天的实体，在上个月以大量利润出售，而比特币则吸收了销售压力。

“For the Short-Term Holders, the improvement in their portfolio values has directly translated into a notable increase in spending activity, with the cohort realizing over $11.4 billion of profit across the last month.”

“对于短期持有人来说，其投资组合价值的提高已直接转化为支出活动的显着增加，同时在过去一个月中实现了超过114亿美元的利润。”

Glassnode reports on the social media platform X that ever since Bitcoin plummeted to a local low of around $74,000 in early April, the market value to realized value (MVRV) metric - which gauges the market’s sentiment and valuation of a crypto asset - has seen a huge increase for both STHs and Long-Term Holders (LTHs).

GlassNode在社交媒体平台X上的报道X上报告了4月初比特币的当地低点，大约74,000美元，实现价值的市场价值（MVRV）度量标准（衡量了Crypto资产的估值） - STH和长期持有人（LTHS）都大幅增长。

A rising MVRV means "holders are sitting on more unrealized profit - boosting confidence and reducing sell pressure," according to the analytics firm.

分析公司称，MVRV的上升意味着“持有人坐在更不实现的利润中 - 提高信心并减少卖出压力”。

“Since the $74,000 low:

“由于$ 74,000低：

. Profitability is up across the board, boosting confidence and supporting the rally.”

。盈利能力全面提高，增强了信心并支持集会。”

Bitcoin hit a new all-time high on Wednesday, briefly surging past $110,000 for the first time in its history.

比特币在周三的历史最高水平上达到了新的高潮，其历史上首次飙升了110,000美元。

The world’s favorite cryptocurrency has since pulled back slightly, trading at $109,686 at time of writing. It is still up 2.6% over the last 24 hours.

此后，世界上最喜欢的加密货币略有退缩，写作时的交易价格为109,686美元。在过去的24小时内仍增长2.6％。