{"id":1871,"date":"2025-10-22T16:40:21","date_gmt":"2025-10-22T08:40:21","guid":{"rendered":"https:\/\/www.117store.com\/?p=1871"},"modified":"2025-10-22T16:40:21","modified_gmt":"2025-10-22T08:40:21","slug":"glassnode%ef%bc%9abtc%e8%bf%9b%e5%85%a5%e4%bf%ae%e6%ad%a3%e9%98%b6%e6%ae%b5%e4%ba%86%e5%90%97%ef%bc%9f%e8%bf%91%e6%9c%9f%e5%89%8d%e6%99%af%e5%a6%82%e4%bd%95%ef%bc%9f","status":"publish","type":"post","link":"https:\/\/www.wxjqcz.com\/?p=1871","title":{"rendered":"Glassnode\uff1aBTC\u8fdb\u5165\u4fee\u6b63\u9636\u6bb5\u4e86\u5417\uff1f\u8fd1\u671f\u524d\u666f\u5982\u4f55\uff1f"},"content":{"rendered":"

Glassnode\uff1aBTC\u8fdb\u5165\u4fee\u6b63\u9636\u6bb5\u4e86\u5417\uff1f\u8fd1\u671f\u524d\u666f\u5982\u4f55\uff1f<\/h1>\n
\n

\u6765\u6e90\uff1aGlassnode\uff1b\u7f16\u8bd1\uff1a\u767d\u6c34\uff0c\u91d1\u8272\u8d22\u7ecf<\/p>\n

\u6458\u8981
<\/h2>\n
    \n
  • \n

    \u6bd4\u7279\u5e01\u5df2\u8fdb\u5165\u4fee\u6b63\u9636\u6bb5\uff0c\u4ea4\u6613\u4ef7\u683c\u8f83\u5176 10.8 \u4e07\u7f8e\u5143\u7684\u5386\u53f2\u9ad8\u70b9\u4e0b\u8dcc 11%\uff0c\u4f46\u4ecd\u9ad8\u4e8e\u5173\u952e\u652f\u6491\u4f4d\uff0c\u4fdd\u6301\u4e86\u5efa\u8bbe\u6027\u7684\u5e02\u573a\u7ed3\u6784\u3002<\/p>\n<\/li>\n

  • \n

    Z-Score \u5206\u6790\u8868\u660e\uff0c\u5468\u671f\u6027\u9ad8\u70b9\u901a\u5e38\u4e0e\u9ad8\u4e8e\u5e73\u5747\u503c 1.5 \u5230 2.0\u03c3 \u7684\u5404\u79cd\u6307\u6807\u4e00\u81f4\uff0c\u63d0\u4f9b\u4e86\u4e00\u4e2a\u6846\u67b6\u6765\u5e2e\u52a9\u9a7e\u9a6d\u770b\u6da8\u5e02\u573a\u9636\u6bb5\u3002<\/p>\n<\/li>\n

  • \n

    \u6bd4\u7279\u5e01\u5f53\u524d\u4ef7\u683c\u6bd4\u77ed\u671f\u6301\u6709\u8005\u7684\u6210\u672c\u57fa\u7840 88.4 \u4e07\u7f8e\u5143\u9ad8\u51fa\u7ea6 10%\uff0c\u5f3a\u8c03\u5982\u679c\u52bf\u5934\u505c\u6ede\u4e14\u4ef7\u683c\u4f4e\u4e8e\u8fd9\u4e00\u6c34\u5e73\uff0c\u5219\u5b58\u5728\u4e0b\u884c\u98ce\u9669\u3002<\/p>\n<\/li>\n

  • \n

    \u672a\u5b9e\u73b0\u635f\u5931\u96c6\u4e2d\u5728\u77ed\u671f\u6301\u6709\u8005\u8eab\u4e0a\uff0c2.0-3.5 \u767e\u4e07 BTC \u88ab\u6301\u6709\uff0c\u53cd\u6620\u51fa\u5e02\u573a\u538b\u529b\u9002\u4e2d\u3002<\/p>\n<\/li>\n

  • \n

    \u76f8\u5bf9\u672a\u5b9e\u73b0\u635f\u5931\u5728 2024 \u5e74\u7b2c\u4e09\u5b63\u5ea6\u8fbe\u5230\u5cf0\u503c 4.3%\uff0c\u660e\u663e\u4f4e\u4e8e\u4e4b\u524d\u53d7\u5916\u90e8\u51b2\u51fb\u63a8\u52a8\u7684\u5468\u671f\uff0c\u7a81\u663e\u51fa\u5e02\u573a\u66f4\u52a0\u4ee5\u73b0\u8d27\u4e3a\u5bfc\u5411\u4e14\u66f4\u5177\u8010\u5fc3\u3002<\/p>\n<\/li>\n<\/ul>\n

    \u53d8\u5316\u7684\u5cf0\u503c<\/h2>\n

    \u5df2\u5b9e\u73b0\u4ef7\u683c\u53cd\u6620\u4e86\u6240\u6709\u6bd4\u7279\u5e01\u4e0a\u6b21\u5728\u94fe\u4e0a\u4ea4\u6613\u7684\u5e73\u5747\u4ef7\u683c\uff0c\u56e0\u6b64\u4ee3\u8868\u4e86\u5e02\u573a\u7684\u603b\u6210\u672c\u57fa\u7840\u3002MVRV \u6bd4\u7387\u662f\u73b0\u8d27\u4ef7\u683c\u4e0e\u5df2\u5b9e\u73b0\u4ef7\u683c\u4e4b\u95f4\u7684\u6bd4\u7387\uff0c\u5b83\u8861\u91cf\u4e86\u5e73\u5747\u672a\u5b9e\u73b0\u5229\u6da6\u7684\u5927\u5c0f\u3002\u9ad8\u4e8e 1 \u7684\u503c\u8868\u793a\u5e73\u5747\u672a\u5b9e\u73b0\u5229\u6da6\uff0c\u4f4e\u4e8e 1 \u7684\u503c\u8868\u793a\u672a\u5b9e\u73b0\u4e8f\u635f\u3002<\/p>\n

    MVRV \u6bd4\u7387\u76ee\u524d\u4ea4\u6613\u4ef7\u683c\u4e3a 1.32\uff0c\u8868\u660e BTC \u7684\u5e73\u5747\u5355\u4f4d\u6301\u6709 32% \u7684\u672a\u5b9e\u73b0\u5229\u6da6\u3002\u8fd9\u79cd\u7ed3\u6784\u4e0e 2024 \u5e74 4 \u6708\u4e2d\u65ec\u7684 ATH \u540e\u7ed3\u6784\u76f8\u4f3c\uff0c\u8868\u660e\u5c3d\u7ba1\u5e02\u573a\u51fa\u73b0\u8c03\u6574\uff0c\u4f46\u603b\u4f53\u60c5\u7eea\u4ecd\u4fdd\u6301\u79ef\u6781\u6001\u52bf\u3002<\/strong><\/span><\/p>\n

    \"jVeuJyaSQNZCkSejrS7xSswdMEh6CU3CAEL2tAtA.jpeg\"<\/p>\n

    \u591a\u5e74\u6765\uff0c\u6bd4\u7279\u5e01\u5e02\u573a\u5df2\u7ecf\u6210\u719f\uff0c\u4e0e\u6b64\u540c\u65f6\uff0cMVRV \u7684\u5cf0\u503c\u5728\u5468\u671f\u6027\u9876\u90e8\u9644\u8fd1\u51fa\u73b0\u5468\u671f\u6027\u8870\u51cf\u3002\u8fd9\u53cd\u6620\u4e86\u968f\u7740\u8d44\u4ea7\u89c4\u6a21\u7684\u589e\u957f\uff0c\u6295\u673a\u6781\u7aef\u884c\u4e3a\u7684\u6574\u4f53\u51cf\u5f31\u3002<\/strong><\/span><\/p>\n

    \u6bcf\u4e2a\u5e02\u573a\u5468\u671f\u7684 MVRV \u9ad8\u70b9\u90fd\u9010\u6e10\u964d\u4f4e\uff0c\u8fd9\u8868\u660e\u5e73\u5747\u672a\u5b9e\u73b0\u5229\u6da6\u500d\u6570\u6b63\u5728\u964d\u4f4e\uff1a<\/p>\n

      \n
    • \n

      2011 \u5e74\uff1a8.07 \u500d<\/p>\n<\/li>\n

    • \n

      2014 \u5e74\uff1a6.00 \u500d<\/p>\n<\/li>\n

    • \n

      2018 \u5e74\uff1a4.81 \u500d<\/p>\n<\/li>\n

    • \n

      2021 \u5e74\uff1a3.98 \u500d<\/p>\n<\/li>\n

    • \n

      2024 \u5e74\uff1a2.78 \u500d\uff08\u8fc4\u4eca\u4e3a\u6b62\uff09<\/p>\n<\/li>\n<\/ul>\n

      \u8fd9\u79cd\u4e0b\u964d\u8868\u660e\uff0c\u968f\u7740\u5e02\u573a\u89c4\u6a21\u548c\u6d41\u52a8\u6027\u7684\u589e\u957f\uff0c\u6ce2\u52a8\u6027\u548c\u6295\u673a\u5f3a\u5ea6\u9010\u6e10\u964d\u4f4e\u3002\u8fd9\u4e5f\u8868\u660e\uff0c\u5c3d\u7ba1\u6bd4\u7279\u5e01\u4ecd\u5177\u6709\u5468\u671f\u6027\uff0c\u4f46\u6bcf\u6b21\u9ad8\u5cf0\u90fd\u53d8\u5f97\u76f8\u5bf9\u4e0d\u90a3\u4e48\u5938\u5f20\uff0c\u4e0e\u66f4\u6210\u719f\u548c\u9ad8\u6548\u7684\u5e02\u573a\u7ed3\u6784\u76f8\u4e00\u81f4\u3002<\/strong><\/span><\/p>\n

      \"xMXh8eun4J69OQnHGj3qMiCeVVzOzQLNyV6SAPAi.jpeg\"<\/p>\n

      \u4e3a\u4e86\u89e3\u91ca\u8fde\u7eed\u5468\u671f\u5185 MVRV \u5cf0\u503c\u7684\u51cf\u5c0f\uff0c\u6211\u4eec\u53ef\u4ee5\u91c7\u7528\u7edf\u8ba1\u65b9\u6cd5\u6765\u89c4\u8303\u5176\u632f\u8361\u8303\u56f4\u3002\u91d1\u878d\u65f6\u95f4\u5e8f\u5217\u5206\u6790\u4e2d\u4e00\u79cd\u88ab\u5e7f\u6cdb\u63a5\u53d7\u7684\u65b9\u6cd5\u662f Z \u5206\u6570\uff0c\u5176\u8ba1\u7b97\u516c\u5f0f\u5982\u4e0b\uff1a<\/p>\n

      Z-Score = (X – \u03bc) \/ \u03c3<\/p>\n

        \n
      • \n

        X \u4e3a\u89c2\u6d4b\u503c\uff0c<\/p>\n<\/li>\n

      • \n

        \u03bc \u4e3a\u5e73\u5747\u503c\uff0c<\/p>\n<\/li>\n

      • \n

        \u03c3 \u4e3a\u6807\u51c6\u5dee\u3002<\/p>\n<\/li>\n<\/ul>\n

        \u5728\u8ba1\u7b97 Z \u5206\u6570\u65f6\uff0c\u6211\u4eec\u53ef\u4ee5\u4f7f\u7528\u6574\u4e2a\u5386\u53f2\u6570\u636e\u96c6\u8fdb\u884c\u7d2f\u79ef\u89c6\u56fe\uff0c\u4e5f\u53ef\u4ee5\u91c7\u7528\u8f83\u77ed\u7684\u6eda\u52a8\u7a97\u53e3\u6765\u66f4\u597d\u5730\u6355\u6349\u91d1\u878d\u5468\u671f\u7684\u52a8\u6001\u6027\u8d28\u548c MVRV \u4e2d\u9010\u6e10\u51cf\u5c0f\u7684\u5cf0\u503c\u3002<\/p>\n

        \u4f7f\u7528\u6574\u4e2a\u5386\u53f2\u6570\u636e\u8fdb\u884c MVRV Z \u5206\u6570\u8f6c\u6362\u53ef\u80fd\u4f1a\u5bfc\u81f4\u4e00\u4e9b\u626d\u66f2\u7684\u7ed3\u679c\uff0c\u56e0\u4e3a\u5177\u6709\u66f4\u9ad8\u5cf0\u503c\u7684\u65e9\u671f\u5468\u671f\u4f1a\u626d\u66f2\u5e73\u5747\u503c\u548c\u6807\u51c6\u5dee\uff0c\u4f7f\u5176\u65e0\u6cd5\u53cd\u6620\u5f53\u524d\u7684\u5e02\u573a\u72b6\u51b5\u3002<\/p>\n

        \"pDGkULtjiStVLdIWqHDQDNj6jUHnaWJZ55CfZ3wI.jpeg\"<\/p>\n

        \u56e0\u6b64\uff0c\u4e3a\u4e86\u89e3\u91ca\u8fd9\u4e9b\u5f71\u54cd\uff0c\u6211\u4eec\u901a\u8fc7\u7f29\u77ed\u6eda\u52a8\u7a97\u53e3\u7684\u957f\u5ea6\u5e76\u4f7f\u7528\u8f83\u8fd1\u671f\u7684\u5e02\u573a\u5386\u53f2\u4f5c\u4e3a\u57fa\u51c6\u6765\u4f18\u5316\u6eda\u52a8\u7a97\u53e3\u3002<\/p>\n

        \u4e0b\u56fe\u5c06\u7d2f\u79ef Z \u5206\u6570\u4e0e\u4f7f\u7528 4 \u5e74\u6eda\u52a8\u7a97\u53e3\u8ba1\u7b97\u7684\u7248\u672c\u8fdb\u884c\u4e86\u6bd4\u8f83\u3002\u5c3d\u7ba1\u6211\u4eec\u8bd5\u56fe\u9002\u5e94\u5e02\u573a\u5468\u671f\u7684\u52a8\u6001\u6027\u8d28\uff0c\u4f46\u7ed3\u679c\u4ecd\u7136\u51e0\u4e4e\u76f8\u540c\uff0cMVRV \u5cf0\u503c\u8870\u51cf\u95ee\u9898\u4ecd\u672a\u5f97\u5230\u89e3\u51b3\u3002<\/p>\n

        \"I9QLq5DJqNBGDUDXu22Abj8YVPr3LfYRICNUWUtg.jpeg\"<\/p>\n

        \u8f6c\u5230 2 \u5e74\u6eda\u52a8\u7a97\u53e3\u8fdb\u884c Z \u5206\u6570\u8ba1\u7b97\uff08\u84dd\u8272\uff09\uff0c2024 \u5e74 3 \u6708\u6700\u8fd1\u5468\u671f ATH \u4e2d\u89c2\u5bdf\u5230\u7684\u5cf0\u503c\u4e0e\u524d\u4e24\u4e2a\u5468\u671f\u7684\u5cf0\u503c\u8303\u56f4\u975e\u5e38\u63a5\u8fd1\u3002<\/p>\n

        \u5728\u8fd9\u79cd\u60c5\u51b5\u4e0b\uff0c\u6211\u4eec\u73b0\u5728\u5df2\u7ecf\u8c03\u6574\u4e86 MVRV \u5cf0\u503c\u7684\u4e0b\u964d\u3002 \u7136\u800c\uff0c2 \u5e74\u6eda\u52a8\u7a97\u53e3 Z \u5206\u6570\u5e76\u672a\u6807\u8bb0 2015 \u5e74\u7b2c\u56db\u5b63\u5ea6\u30012019 \u5e74\u7b2c\u4e09\u5b63\u5ea6\u548c 2023 \u5e74\u7b2c\u4e8c\u5b63\u5ea6\u7684\u663e\u8457\u5e02\u573a\u9ad8\u70b9\uff0c\u8fd9\u8868\u660e\u53ef\u80fd\u5b58\u5728\u8fdb\u4e00\u6b65\u4f18\u5316\u7684\u6f5c\u529b\u3002<\/p>\n

        \"pXytiQeBJPNDFNx1KCoo6q7NFovDU1jHS9FAFx3c.jpeg\"<\/p>\n

        \u6700\u540e\uff0c\u6211\u4eec\u5728 Z \u5206\u6570\u8ba1\u7b97\u4e2d\u5e94\u7528\u4e86 1 \u5e74\u6eda\u52a8\u7a97\u53e3\uff0c\u4ece\u800c\u5b9e\u73b0\u4e86\u66f4\u7cbe\u786e\u3001\u66f4\u6709\u5e0c\u671b\u7684\u8f6c\u6362\u3002\u8fd9\u79cd\u65b9\u6cd5\u53ef\u4ee5\u4ee5\u7c7b\u4f3c\u7684\u89c4\u6a21\u8bc6\u522b\u4e2d\u671f\u548c\u540e\u671f\u7684\u5cf0\u503c\uff0c\u4ece\u800c\u66f4\u6e05\u695a\u5730\u8868\u793a\u8fd1\u671f\u7684\u5e02\u573a\u52a8\u6001\u3002<\/p>\n

        \u8fd9\u4e2a 1 \u5e74 MVRV Z \u5206\u6570\u8868\u660e\uff0c\u5468\u671f\u6027\u725b\u5e02\u6301\u7eed\u8fbe\u5230 2\u03c3 \u8303\u56f4\u5185\u7684\u5c40\u90e8\u548c\u5168\u7403\u5cf0\u503c\uff0c\u6295\u8d44\u8005\u7684\u76c8\u5229\u80fd\u529b\u5728\u76f8\u5bf9\u8f83\u77ed\u7684\u65f6\u95f4\u5185\u663e\u8457\u63d0\u9ad8\u3002\u5728\u718a\u5e02\u9636\u6bb5\uff0c\u5f53 MVRV \u4ea4\u6613\u8ddd\u79bb\u5e73\u5747\u503c -1.5\u03c3 \u65f6\uff0c\u5c31\u4f1a\u6355\u6349\u5230\u5c40\u90e8\u548c\u5168\u7403\u4f4e\u70b9\u3002<\/p>\n

        \u8fd9\u79cd\u6539\u8fdb\u7684 MVRV Z \u5206\u6570\u53ef\u4ee5\u63d0\u4f9b\u4e00\u4e2a\u66f4\u5177\u54cd\u5e94\u6027\u7684\u6846\u67b6\u6765\u8bc6\u522b\u6574\u4e2a\u5468\u671f\u4e2d\u7684\u5173\u952e\u5e02\u573a\u8f6c\u6298\u70b9\uff0c\u5e76\u6709\u52a9\u4e8e\u8c03\u6574\u63a5\u8fd1\u6781\u503c\u7684\u6574\u4f53\u5cf0\u503c\u4e0b\u964d\u3002<\/p>\n

        \"JuvVnRYogB2rwssliqrMdV7y0pUWedlrfjScC6bF.jpeg\"<\/p>\n

        \u73b0\u5728\u6211\u4eec\u5df2\u7ecf\u5c06\u6eda\u52a8\u7a97\u53e3\u4f18\u5316\u4e3a 1 \u5e74\uff0c\u6211\u4eec\u53ef\u4ee5\u6269\u5c55\u6b64\u6846\u67b6\u6765\u53cd\u5411\u8ba1\u7b97\u5b9a\u4e49\u8fd9\u4e9b\u8fd1\u671f\u9ad8\u5cf0\u548c\u4f4e\u8c37\u7684\u9608\u503c\u4ef7\u683c\u6c34\u5e73\u3002<\/p>\n

        \u725b\u5e02\u7684\u7279\u70b9\u662f\u4ef7\u683c\u5728 1 \u5e74\u5e73\u5747\u503c\u4e4b\u95f4\u4ea4\u6613\uff0c\u5cf0\u503c\u9ad8\u4e8e 2\u03c3 \u5de6\u53f3\u3002\u76f8\u53cd\uff0c\u718a\u5e02\u4ef7\u683c\u4ecd\u4f4e\u4e8e\u5e73\u5747\u503c\uff0c\u663e\u8457\u4f4e\u70b9\u51fa\u73b0\u5728 -1.5\u03c3 \u9644\u8fd1\u3002\u8fd9\u79cd\u7ed3\u6784\u5316\u65b9\u6cd5\u53ef\u4ee5\u66f4\u6e05\u695a\u5730\u5212\u5206\u5e02\u573a\u9636\u6bb5\u3002<\/p>\n

        \u76ee\u524d\uff0c\u6bd4\u7279\u5e01\u7684\u4ea4\u6613\u4ef7\u683c\u4e3a 94,398 \u7f8e\u5143\uff0c\u9ad8\u4e8e 1 \u5e74\u5e73\u5747\u503c 90.9 \u4e07\u7f8e\u5143\uff0c\u4f46\u4f4e\u4e8e 2\u03c3 \u9608\u503c 112.6 \u4e07\u7f8e\u5143\u3002\u8fd9\u8868\u660e\u5e02\u573a\u4ecd\u5904\u4e8e\u770b\u6da8\u9636\u6bb5\uff0c\u5c3d\u7ba1\u5b83\u5df2\u4ece\u6700\u8fd1\u7684\u9ad8\u6c34\u5e73\u7565\u6709\u56de\u843d\uff0c\u5f53\u65f6\u8be5\u6c34\u5e73\u9ad8\u4e8e\u4e0a\u9650\u3002<\/strong><\/span><\/p>\n

        \"F4GAtJDf11tg86WSg9pEuEkxgiaKTygn0UKfFdEs.jpeg\"<\/p>\n

        \u8bc4\u4f30\u4fee\u6b63<\/h2>\n

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        • \n

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          \u7ed3\u8bba
          <\/h2>\n

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          \n
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          <\/div>\n
          \n
          \n

          <\/h3>\n

          \n<\/div>\n

          \u67e5\u770b\u66f4\u591a<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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