{"id":1305,"date":"2025-06-29T03:05:19","date_gmt":"2025-06-28T19:05:19","guid":{"rendered":"https:\/\/www.db-hk.com\/?p=1305"},"modified":"2025-06-29T03:05:19","modified_gmt":"2025-06-28T19:05:19","slug":"glassnode-%e6%b4%9e%e5%af%9f%ef%bc%9a%e9%80%89%e4%b8%be%e5%90%8e%e8%b5%84%e9%87%91%e6%b5%81%e4%b8%8e%e7%8e%b0%e8%b4%a7%e5%b8%82%e5%9c%ba%e5%bc%ba%e5%8a%b2%e9%a9%b1%e5%8a%a8%e7%9a%84%e6%b7%b1%e5%b1%82","status":"publish","type":"post","link":"http:\/\/www.fubairui.net\/?p=1305","title":{"rendered":"Glassnode \u6d1e\u5bdf\uff1a\u9009\u4e3e\u540e\u8d44\u91d1\u6d41\u4e0e\u73b0\u8d27\u5e02\u573a\u5f3a\u52b2\u9a71\u52a8\u7684\u6df1\u5c42\u89e3\u6790\uff0c\u672a\u6765\u8fd8\u4f1a\u7ee7\u7eed\u4e0a\u6da8\u5417\uff1f"},"content":{"rendered":"<p><strong>\u6458\u8981<\/strong><\/p>\n<ul class=\"wp-block-list\">\n<li>\u672c\u6587\u63a2\u8ba8\u4e86\u6bd4\u7279\u5e01\u8fd1\u671f\u521b\u4e0b\u5386\u53f2\u65b0\u9ad8\u7684\u73b0\u8c61\uff0c\u5e76\u5206\u6790\u4e86\u63a8\u52a8\u8fd9\u4e00\u4e0a\u6da8\u52bf\u5934\u7684\u56e0\u7d20\uff0c\u5c24\u5176\u662f\u73b0\u8d27\u5e02\u573a\u5bf9\u6c38\u7eed\u671f\u8d27\u7684\u5f3a\u52b2\u9700\u6c42\u3002<\/li>\n<li>\u6211\u4eec\u5206\u6790\u4e86\u6700\u8fd1\u7684\u7f8e\u56fd\u5927\u9009\u5bf9\u673a\u6784\u8d44\u91d1\u6d41\u5165\u7684\u5f71\u54cd\uff0c\u91cd\u70b9\u6307\u51fa\u968f\u7740\u73b0\u8d27\u6301\u6709\u7b56\u7565\u8d8a\u6765\u8d8a\u53d7\u6b22\u8fce\uff0c\u7f8e\u56fd\u73b0\u8d27 ETF \u548c\u829d\u52a0\u54e5\u5546\u54c1\u4ea4\u6613\u6240 (CME) \u671f\u8d27\u672a\u5e73\u4ed3\u5408\u7ea6\u5982\u4f55\u6fc0\u589e\u3002<\/li>\n<li>\u5bf9 ATH \u53d1\u73b0\u9636\u6bb5\u8fdb\u884c\u8bc4\u4f30\uff0c\u91cd\u70b9\u5173\u6ce8\u5229\u6da6\u4e2d\u7684\u4f9b\u5e94\u767e\u5206\u6bd4\u4ee5\u53ca\u4f34\u968f\u76c8\u5229\u80fd\u529b\u957f\u671f\u8d85\u8fc7 95% \u7684\u5e02\u573a\u52a8\u6001\u3002<\/li>\n<li>\u6211\u4eec\u6df1\u5165\u7814\u7a76\u94fe\u4e0a\u6210\u672c\u57fa\u7840\u5e26\u4ee5\u8ffd\u8e2a\u9700\u6c42\u52a8\u91cf\uff0c\u8bf4\u660e\u8fd9\u4e9b\u5e26\u7684\u63a5\u8fd1\u7a0b\u5ea6\u5982\u4f55\u9884\u793a\u7740\u5e02\u573a\u9700\u6c42\u5f3a\u52b2\u7684\u65f6\u671f\u3002<\/li>\n<li>\u6700\u540e\uff0c\u6211\u4eec\u68c0\u67e5\u4e86\u5df2\u5b9e\u73b0\u7684\u5229\u6da6\u6c34\u5e73\uff0c\u6ce8\u610f\u5230\u660e\u663e\u7684\u83b7\u5229\u56de\u5410\u6d3b\u52a8\uff0c\u4f46\u8868\u660e\u5f53\u524d\u6c34\u5e73\u4ecd\u4f4e\u4e8e\u4e4b\u524d\u7684\u5386\u53f2\u6700\u9ad8\u6c34\u5e73\uff0c\u8868\u660e\u8fd8\u6709\u7ee7\u7eed\u589e\u957f\u7684\u7a7a\u95f4\u3002<\/li>\n<\/ul>\n<p><strong>\u9009\u4e3e\u540e\u7684\u6fc0\u589e<\/strong><\/p>\n<p>\u7f8e\u56fd\u603b\u7edf\u5927\u9009\u7ed3\u679c\u516c\u5e03\u540e\uff0c\u5e02\u573a\u666e\u904d\u8ba4\u4e3a\u7279\u6717\u666e\u653f\u5e9c\u5c06\u91c7\u53d6\u66f4\u52a0\u53cb\u597d\u7684\u52a0\u5bc6\u8d27\u5e01\u7acb\u573a\uff0c\u8fd9\u4e3a\u52a0\u5bc6\u8d27\u5e01\u5e02\u573a\u5e26\u6765\u4e86\u79ef\u6781\u4fe1\u53f7\uff0c\u63a8\u52a8\u6bd4\u7279\u5e01\u521b\u4e0b\u5386\u53f2\u65b0\u9ad8\u3002\u6240\u6709\u4e3b\u8981 BTC\uff1a\u5916\u6c47\u5bf9\u5747\u521b\u4e0b\u5386\u53f2\u65b0\u9ad8\u3002<\/p>\n<p>\u8be5\u56fe\u8868\u663e\u793a\u4e86\u6bd4\u7279\u5e01 (BTC) \u4e0e\u5404\u79cd\u6cd5\u5b9a\u8d27\u5e01\u548c\u9ec4\u91d1 (XAU) \u914d\u5bf9\u4ece ATH \u7684\u56de\u64a4\u60c5\u51b5\u3002\u503c\u5f97\u6ce8\u610f\u7684\u662f\uff0cBTC\uff1aTRY\uff08\u571f\u8033\u5176\u91cc\u62c9\uff09\u5bf9\u5728 2024 \u5e74 6 \u6708 26 \u65e5\u7387\u5148\u521b\u4e0b ATH\uff0c\u9886\u5148\u4e8e\u5176\u4ed6\u914d\u5bf9\u30022024 \u5e74 11 \u6708 6 \u65e5\uff0c\u51e0\u4e4e\u6240\u6709 BTC\uff1a\u5916\u6c47\u5bf9\u90fd\u521b\u4e0b\u4e86\u65b0\u9ad8\uff0c\u4f46 BTC\uff1a\u9ec4\u91d1\u9664\u5916\uff0c\u5c3d\u7ba1\u6bd4\u7279\u5e01\u76ee\u524d\u7684\u4f30\u503c\u4e3a 88.6 \u4e07\u7f8e\u5143\uff0c\u4f46\u9ec4\u91d1\u4ecd\u6bd4 ATH \u4f4e\u7ea6 19.9%\u3002<\/p>\n<p>\u5c3d\u7ba1\u6bd4\u7279\u5e01\u76ee\u524d\u7684\u7f8e\u5143\u4f30\u503c\u4e3a 88.6 \u4e07\u7f8e\u5143\uff0c\u4f46 BTC\uff1a\u9ec4\u91d1\u5bf9\u4ecd\u6bd4\u5176 ATH \u4f4e\u7ea6 -19.9\uff05\u3002<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.web3sj.com\/wp-content\/uploads\/2024\/11\/1731466763247135.jpg\" alt=\"Glassnode \u6d1e\u5bdf\uff1a\u9009\u4e3e\u540e\u8d44\u91d1\u6d41\u4e0e\u73b0\u8d27\u5e02\u573a\u5f3a\u52b2\u9a71\u52a8\u7684\u6df1\u5c42\u89e3\u6790\uff0c\u672a\u6765\u8fd8\u4f1a\u7ee7\u7eed\u4e0a\u6da8\u5417\uff1f\" \/><img decoding=\"async\" class=\"j-lazy\" src=\"https:\/\/www.web3sj.com\/wp-content\/themes\/justnews\/themer\/assets\/images\/lazy.png\" data-original=\"https:\/\/www.web3sj.com\/wp-content\/uploads\/2024\/11\/1731466763247135.jpg\" alt=\"Glassnode \u6d1e\u5bdf\uff1a\u9009\u4e3e\u540e\u8d44\u91d1\u6d41\u4e0e\u73b0\u8d27\u5e02\u573a\u5f3a\u52b2\u9a71\u52a8\u7684\u6df1\u5c42\u89e3\u6790\uff0c\u672a\u6765\u8fd8\u4f1a\u7ee7\u7eed\u4e0a\u6da8\u5417\uff1f\" \/><\/figure>\n<p>\u4ece\u5386\u53f2\u4e0a\u770b\uff0c\u7f8e\u56fd\u603b\u7edf\u9009\u4e3e\u5bf9\u6bd4\u7279\u5e01\u7684\u5e02\u573a\u8868\u73b0\u4ea7\u751f\u4e86\u91cd\u5927\u5f71\u54cd\uff0c\u4ef7\u683c\u548c\u5b9e\u9645\u5e02\u503c\uff08\u4ee3\u8868\u4e86\u6295\u8d44\u4e8e\u6bd4\u7279\u5e01\u7f51\u7edc\u7684\u7d2f\u8ba1\u8d22\u5bcc\uff09\u90fd\u53d1\u751f\u4e86\u663e\u8457\u53d8\u5316\u3002<\/p>\n<p><strong>2016 \u5e74\u9009\u4e3e\uff08\u5171\u548c\u515a\u653f\u5e9c\uff09\uff1a<\/strong><\/p>\n<ul class=\"wp-block-list\">\n<li>\u5728\u9009\u4e3e\u524d\uff0c\u5b9e\u9645\u8d44\u672c\u6fc0\u589e\u4e86 20.3%\uff0c\u9009\u4e3e\u540e\u53c8\u4e0a\u6da8\u4e86 55.5%\u3002<\/li>\n<li>\u9009\u4e3e\u524d\u4ef7\u683c\u4e0a\u6da8\u4e86 34.7%\uff0c\u9009\u4e3e\u540e\u51e0\u4e2a\u6708\u4ef7\u683c\u98d9\u5347\u4e86 124.6%\u3002<\/li>\n<\/ul>\n<p><strong>2020 \u5e74\u5927\u9009\uff08\u6c11\u4e3b\u515a\u653f\u5e9c\uff09\uff1a<\/strong><\/p>\n<ul class=\"wp-block-list\">\n<li>\u9009\u4e3e\u524d\u5b9e\u9645\u8d44\u672c\u6d41\u5165\u589e\u957f\u4e86 16.5%\uff0c\u9009\u4e3e\u540e\u589e\u957f\u4e86 196.3%\u3002<\/li>\n<li>\u9009\u4e3e\u524d\u4ef7\u683c\u4e0a\u6da8\u4e86 35.4%\uff0c\u9009\u4e3e\u540e\u66f4\u662f\u98d9\u5347\u4e86 306.8%\u3002<\/li>\n<\/ul>\n<p><strong>2024 \u5e74\u9009\u4e3e\uff08\u5171\u548c\u515a\u6267\u653f\u81f3\u4eca\uff09\uff1a<\/strong><\/p>\n<ul class=\"wp-block-list\">\n<li>\u5728\u9009\u4e3e\u524d\uff0c\u5b9e\u9645\u8d44\u672c\u589e\u52a0\u4e86 13.3%\uff0c\u4f46\u9009\u4e3e\u540e\u5c0f\u5e45\u4e0a\u6da8\u4e86 2%\u3002<\/li>\n<li>\u9009\u4e3e\u524d\uff0c\u4ef7\u683c\u4e0a\u6da8\u4e86 10.1%\uff0c\u9009\u4e3e\u540e\uff08\u8fc4\u4eca\u4e3a\u6b62\uff09\u4e0a\u6da8\u4e86 27.9%\u3002<\/li>\n<\/ul>\n<p>\u56e0\u6b64\uff0c\u5f53\u524d\u7684\u5468\u671f\u53cd\u6620\u4e86\u5728\u524d\u51e0\u6b21\u9009\u4e3e\u524d\u5915\u7684\u8f83\u4e3a\u6e29\u548c\u7684\u53cd\u5e94\uff0c\u5c3d\u7ba1\u4ecd\u7136\u975e\u5e38\u4e50\u89c2\u3002\u5e02\u573a\u76ee\u524d\u6b63\u5728\u9002\u5e94\u52a0\u5bc6\u653f\u7b56\u53ef\u80fd\u5728\u672a\u6765\u51e0\u5e74\u53d1\u751f\u7684\u53d8\u5316\u3002<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.web3sj.com\/wp-content\/uploads\/2024\/11\/1731466786606827.jpg\" alt=\"Glassnode \u6d1e\u5bdf\uff1a\u9009\u4e3e\u540e\u8d44\u91d1\u6d41\u4e0e\u73b0\u8d27\u5e02\u573a\u5f3a\u52b2\u9a71\u52a8\u7684\u6df1\u5c42\u89e3\u6790\uff0c\u672a\u6765\u8fd8\u4f1a\u7ee7\u7eed\u4e0a\u6da8\u5417\uff1f\" \/><img decoding=\"async\" class=\"j-lazy\" src=\"https:\/\/www.web3sj.com\/wp-content\/themes\/justnews\/themer\/assets\/images\/lazy.png\" data-original=\"https:\/\/www.web3sj.com\/wp-content\/uploads\/2024\/11\/1731466786606827.jpg\" alt=\"Glassnode \u6d1e\u5bdf\uff1a\u9009\u4e3e\u540e\u8d44\u91d1\u6d41\u4e0e\u73b0\u8d27\u5e02\u573a\u5f3a\u52b2\u9a71\u52a8\u7684\u6df1\u5c42\u89e3\u6790\uff0c\u672a\u6765\u8fd8\u4f1a\u7ee7\u7eed\u4e0a\u6da8\u5417\uff1f\" \/><\/figure>\n<p>\u6bd4\u7279\u5e01\u5ef6\u7eed\u4e86\u8fd1\u671f\u521b\u4e0b\u5386\u53f2\u65b0\u9ad8\u7684\u52bf\u5934\uff0c\u521b\u4e0b\u4e86\u6709\u53f2\u4ee5\u6765\u6700\u5927\u7684\u5468\u7ebf\u56fe\uff0c\u6da8\u5e45\u9ad8\u8fbe 11.6 \u4e07\u7f8e\u5143\u3002\u6b64\u6b21\u6da8\u52bf\u5927\u5927\u8d85\u51fa\u4e86\u5386\u53f2\u5468\u7ebf\u8d70\u52bf\uff0c\u51e0\u4e4e\u662f\u7edf\u8ba1\u4e0a\u9650\u7684\u4e94\u500d\uff081 \u4e2a\u6807\u51c6\u5dee\uff09\uff0c\u8868\u660e\u770b\u6da8\u52bf\u5934\u7a7a\u524d\u5f3a\u52b2\u3002<\/p>\n<p>\u8fd9\u79cd\u5f02\u5e38\u7684\u4ef7\u683c\u8d70\u52bf\u53cd\u6620\u4e86\u5e02\u573a\u4e50\u89c2\u60c5\u7eea\uff0c\u53c2\u4e0e\u8005\u5c06\u9884\u671f\u7684\u76d1\u7ba1\u73af\u5883\u89c6\u4e3a\u6301\u7eed\u8d44\u672c\u6d41\u5165\u7684\u50ac\u5316\u5242\u3002<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.web3sj.com\/wp-content\/uploads\/2024\/11\/1731466812951657.jpg\" alt=\"Glassnode \u6d1e\u5bdf\uff1a\u9009\u4e3e\u540e\u8d44\u91d1\u6d41\u4e0e\u73b0\u8d27\u5e02\u573a\u5f3a\u52b2\u9a71\u52a8\u7684\u6df1\u5c42\u89e3\u6790\uff0c\u672a\u6765\u8fd8\u4f1a\u7ee7\u7eed\u4e0a\u6da8\u5417\uff1f\" \/><img decoding=\"async\" class=\"j-lazy\" src=\"https:\/\/www.web3sj.com\/wp-content\/themes\/justnews\/themer\/assets\/images\/lazy.png\" data-original=\"https:\/\/www.web3sj.com\/wp-content\/uploads\/2024\/11\/1731466812951657.jpg\" alt=\"Glassnode \u6d1e\u5bdf\uff1a\u9009\u4e3e\u540e\u8d44\u91d1\u6d41\u4e0e\u73b0\u8d27\u5e02\u573a\u5f3a\u52b2\u9a71\u52a8\u7684\u6df1\u5c42\u89e3\u6790\uff0c\u672a\u6765\u8fd8\u4f1a\u7ee7\u7eed\u4e0a\u6da8\u5417\uff1f\" \/><\/figure>\n<p><strong>\u73b0\u8d27\u4ea4\u6613\u91cf\u9a71\u52a8\u7684\u7a81\u7834<\/strong><\/p>\n<p>\u8be5\u56fe\u8868\u7a81\u51fa\u663e\u793a\u4e86 Coinbase \u73b0\u8d27\u5e02\u573a\u7684\u6bcf\u65e5\u7d2f\u8ba1\u4ea4\u6613\u91cf\u589e\u91cf (CVD)\uff0c\u663e\u793a\u4e70\u65b9\u538b\u529b\u663e\u7740\u4e0a\u5347\u3002\u6700\u8fd1\uff0c\u6bcf\u65e5\u73b0\u8d27 CVD \u8fbe\u5230 1.43 \u4ebf\u7f8e\u5143\uff0c\u63a5\u8fd1 3 \u6708 13 \u65e5\u521b\u4e0b\u7684 1.52 \u4ebf\u7f8e\u5143\u7684\u524d\u9ad8\u3002<\/p>\n<p>\u81ea 7 \u6708\u4ee5\u6765\uff0c\u6bcf\u6b21\u6bd4\u7279\u5e01\u4e0a\u6da8\u90fd\u4f34\u968f\u7740 Coinbase \u4e0a\u4e70\u65b9\u5174\u8da3\u7684\u5927\u5e45\u589e\u957f\uff0c\u8fd9\u8868\u660e\u7f8e\u56fd\u6700\u5927\u7684\u4ea4\u6613\u6240\u4e4b\u4e00\u7684\u73b0\u8d27\u5e02\u573a\u9700\u6c42\u5f3a\u52b2\u3002\u6295\u8d44\u8005\u7684\u8fd9\u79cd\u6301\u7eed\u5174\u8da3\u8868\u660e\u5e02\u573a\u53c2\u4e0e\u8005\u5bf9\u6570\u5b57\u8d44\u4ea7\u8d8a\u6765\u8d8a\u770b\u597d\uff0c\u5e76\u5f3a\u5316\u4e86\u5f53\u524d\u4e0a\u6da8\u7684\u73b0\u8d27\u9a71\u52a8\u6027\u8d28\u3002<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.web3sj.com\/wp-content\/uploads\/2024\/11\/1731466848550923.jpg\" alt=\"Glassnode \u6d1e\u5bdf\uff1a\u9009\u4e3e\u540e\u8d44\u91d1\u6d41\u4e0e\u73b0\u8d27\u5e02\u573a\u5f3a\u52b2\u9a71\u52a8\u7684\u6df1\u5c42\u89e3\u6790\uff0c\u672a\u6765\u8fd8\u4f1a\u7ee7\u7eed\u4e0a\u6da8\u5417\uff1f\" \/><img decoding=\"async\" class=\"j-lazy\" src=\"https:\/\/www.web3sj.com\/wp-content\/themes\/justnews\/themer\/assets\/images\/lazy.png\" data-original=\"https:\/\/www.web3sj.com\/wp-content\/uploads\/2024\/11\/1731466848550923.jpg\" alt=\"Glassnode \u6d1e\u5bdf\uff1a\u9009\u4e3e\u540e\u8d44\u91d1\u6d41\u4e0e\u73b0\u8d27\u5e02\u573a\u5f3a\u52b2\u9a71\u52a8\u7684\u6df1\u5c42\u89e3\u6790\uff0c\u672a\u6765\u8fd8\u4f1a\u7ee7\u7eed\u4e0a\u6da8\u5417\uff1f\" \/><\/figure>\n<p>\u7ee7 Coinbase \u73b0\u8d27\u5e02\u573a\u51fa\u73b0\u5f3a\u52b2\u4e70\u65b9\u538b\u529b\u540e\uff0c\u8fd1\u671f\u7684\u53cd\u5f39\u4e5f\u5e26\u52a8\u5927\u91cf\u8d44\u91d1\u6d41\u5165\u7f8e\u56fd\u73b0\u8d27 ETF\uff0c\u8fc7\u53bb 30 \u5929\u5185\u7ba1\u7406\u8d44\u4ea7\u589e\u52a0\u4e86 68 \u4ebf\u7f8e\u5143\u3002\u8fd9\u4e00\u589e\u957f\u8d85\u8fc7\u4e86 CME \u671f\u8d27\u672a\u5e73\u4ed3\u5408\u7ea6 76 \u4ebf\u7f8e\u5143\u7684\u589e\u5e45\uff0c\u8868\u660e\u6295\u8d44\u8005\u660e\u663e\u504f\u597d\u901a\u8fc7 ETF \u8fdb\u884c\u73b0\u8d27\u6295\u8d44\u3002<\/p>\n<p>ETF \u6d41\u5165\u91cf\u4e0e CME \u672a\u5e73\u4ed3\u5408\u7ea6\u4e4b\u95f4\u7684\u76f8\u5173\u6027\u51f8\u663e\u4e86\u73b0\u8d27\u6301\u6709\u7b56\u7565\u7684\u4e3b\u5bfc\u5730\u4f4d\u3002\u7136\u800c\uff0c\u66f4\u5f3a\u52b2\u7684 ETF \u9700\u6c42\u51f8\u663e\u4e86\u5728\u6b64\u6b21\u5e02\u573a\u4e0a\u6da8\u671f\u95f4\u76f4\u63a5\u73b0\u8d27\u655e\u53e3\u7684\u8f6c\u53d8\u3002<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.web3sj.com\/wp-content\/uploads\/2024\/11\/1731466861012394.jpg\" alt=\"Glassnode \u6d1e\u5bdf\uff1a\u9009\u4e3e\u540e\u8d44\u91d1\u6d41\u4e0e\u73b0\u8d27\u5e02\u573a\u5f3a\u52b2\u9a71\u52a8\u7684\u6df1\u5c42\u89e3\u6790\uff0c\u672a\u6765\u8fd8\u4f1a\u7ee7\u7eed\u4e0a\u6da8\u5417\uff1f\" \/><img decoding=\"async\" class=\"j-lazy\" src=\"https:\/\/www.web3sj.com\/wp-content\/themes\/justnews\/themer\/assets\/images\/lazy.png\" data-original=\"https:\/\/www.web3sj.com\/wp-content\/uploads\/2024\/11\/1731466861012394.jpg\" alt=\"Glassnode \u6d1e\u5bdf\uff1a\u9009\u4e3e\u540e\u8d44\u91d1\u6d41\u4e0e\u73b0\u8d27\u5e02\u573a\u5f3a\u52b2\u9a71\u52a8\u7684\u6df1\u5c42\u89e3\u6790\uff0c\u672a\u6765\u8fd8\u4f1a\u7ee7\u7eed\u4e0a\u6da8\u5417\uff1f\" \/><\/figure>\n<p>\u901a\u5e38\uff0c\u73b0\u8d27\u5e02\u573a\u9700\u6c42\u6301\u7eed\u589e\u957f\uff0c\u6c38\u7eed\u5408\u7ea6\u671f\u8d27\u4e5f\u4f1a\u5448\u73b0\u7c7b\u4f3c\u7684\u79ef\u6781\u52bf\u5934\u3002\u6c38\u7eed\u5408\u7ea6\u5e02\u573a\u8fd1\u671f\u6ea2\u4ef7\u9ad8\u5cf0\u2014\u201411 \u6708 12 \u65e5\u8fbe\u5230\u6bcf\u5c0f\u65f6 159 \u4e07\u7f8e\u5143\uff087 \u5929\u5e73\u5747\u503c\u4e3a\u6bcf\u5c0f\u65f6 39.2 \u4e07\u7f8e\u5143\uff09\u2014\u2014\u53cd\u6620\u51fa\u5f3a\u52b2\u7684\u6295\u673a\u9700\u6c42\u3002<\/p>\n<p>\u7136\u800c\uff0c\u8fd9\u4e00\u6c34\u5e73\u4ecd\u4f4e\u4e8e 3 \u6708\u4e2d\u65ec\u7684\u9ad8\u70b9\uff0c\u8fd9\u8fdb\u4e00\u6b65\u8bc1\u5b9e\u4e86\u5f53\u524d\u6da8\u52bf\u4e3b\u8981\u7531\u73b0\u8d27\u9a71\u52a8\u7684\u5047\u8bbe\u3002\u6c38\u7eed\u5408\u7ea6\u5e02\u573a\u9700\u6c42\u6e29\u548c\u4f46\u663e\u8457\uff0c\u51f8\u663e\u51fa\u73b0\u8d27\u9700\u6c42\u800c\u975e\u6760\u6746\u6295\u673a\u624d\u662f\u8fc4\u4eca\u4e3a\u6b62\u4ef7\u683c\u98d9\u5347\u7684\u4e3b\u8981\u63a8\u52a8\u529b\u3002<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.web3sj.com\/wp-content\/uploads\/2024\/11\/1731466871063833.jpg\" alt=\"Glassnode \u6d1e\u5bdf\uff1a\u9009\u4e3e\u540e\u8d44\u91d1\u6d41\u4e0e\u73b0\u8d27\u5e02\u573a\u5f3a\u52b2\u9a71\u52a8\u7684\u6df1\u5c42\u89e3\u6790\uff0c\u672a\u6765\u8fd8\u4f1a\u7ee7\u7eed\u4e0a\u6da8\u5417\uff1f\" \/><img decoding=\"async\" class=\"j-lazy\" src=\"https:\/\/www.web3sj.com\/wp-content\/themes\/justnews\/themer\/assets\/images\/lazy.png\" data-original=\"https:\/\/www.web3sj.com\/wp-content\/uploads\/2024\/11\/1731466871063833.jpg\" alt=\"Glassnode \u6d1e\u5bdf\uff1a\u9009\u4e3e\u540e\u8d44\u91d1\u6d41\u4e0e\u73b0\u8d27\u5e02\u573a\u5f3a\u52b2\u9a71\u52a8\u7684\u6df1\u5c42\u89e3\u6790\uff0c\u672a\u6765\u8fd8\u4f1a\u7ee7\u7eed\u4e0a\u6da8\u5417\uff1f\" \/><\/figure>\n<p><strong>\u4ef7\u683c\u53d1\u73b0\u9636\u6bb5<\/strong><\/p>\n<p>\u6bd4\u7279\u5e01\u5df2\u8fdb\u5165\u65b0\u7684\u4ef7\u683c\u53d1\u73b0\u9636\u6bb5\uff0c\u6240\u6709\u6d41\u901a\u4f9b\u5e94\u90fd\u8f6c\u5316\u4e3a\u5229\u6da6\u3002\u6b64\u56fe\u8868\u663e\u793a\u4e86\u83b7\u5229\u4f9b\u5e94\u7684\u767e\u5206\u6bd4\uff0c\u4ee5\u53ca\u6bcf\u6708\u8be5\u6307\u6807\u8d85\u8fc7 95% \u7684\u8fde\u7eed\u5929\u6570\u3002<\/p>\n<p>\u4ece\u5386\u53f2\u4e0a\u770b\uff0c\u8fd9\u79cd\u9636\u6bb5\u4f1a\u6301\u7eed\u7ea6 22 \u5929\uff0c\u7136\u540e\u624d\u4f1a\u51fa\u73b0\u8c03\u6574\uff0c\u8d85\u8fc7 5% \u7684\u4f9b\u5e94\u91cf\u5c06\u4f4e\u4e8e\u6700\u521d\u7684\u6536\u8d2d\u4ef7\u3002\u5f53\u524d\u7684\u6da8\u52bf\u5df2\u8fde\u7eed 12 \u5929\u7ef4\u6301\u8fd9\u4e00\u9ad8\u5229\u6da6\u6c34\u5e73\uff0c\u51f8\u663e\u51fa\u5f3a\u52b2\u7684\u5e02\u573a\u60c5\u7eea\uff0c\u4f46\u4e5f\u6697\u793a\u4e86\u6839\u636e\u8fc7\u53bb\u7684\u6a21\u5f0f\u672a\u6765\u53ef\u80fd\u51fa\u73b0\u8c03\u6574\u3002<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.web3sj.com\/wp-content\/uploads\/2024\/11\/1731466895793436.jpg\" alt=\"Glassnode \u6d1e\u5bdf\uff1a\u9009\u4e3e\u540e\u8d44\u91d1\u6d41\u4e0e\u73b0\u8d27\u5e02\u573a\u5f3a\u52b2\u9a71\u52a8\u7684\u6df1\u5c42\u89e3\u6790\uff0c\u672a\u6765\u8fd8\u4f1a\u7ee7\u7eed\u4e0a\u6da8\u5417\uff1f\" \/><img decoding=\"async\" class=\"j-lazy\" src=\"https:\/\/www.web3sj.com\/wp-content\/themes\/justnews\/themer\/assets\/images\/lazy.png\" data-original=\"https:\/\/www.web3sj.com\/wp-content\/uploads\/2024\/11\/1731466895793436.jpg\" alt=\"Glassnode \u6d1e\u5bdf\uff1a\u9009\u4e3e\u540e\u8d44\u91d1\u6d41\u4e0e\u73b0\u8d27\u5e02\u573a\u5f3a\u52b2\u9a71\u52a8\u7684\u6df1\u5c42\u89e3\u6790\uff0c\u672a\u6765\u8fd8\u4f1a\u7ee7\u7eed\u4e0a\u6da8\u5417\uff1f\" \/><\/figure>\n<p>\u8fd9\u5f20\u56fe\u8868\u8003\u5bdf\u4e86\u65b0 ATH \u53d1\u73b0\u9636\u6bb5\u7684\u7d2f\u8ba1\u5b9e\u73b0\u5229\u6da6\uff0c\u7a81\u51fa\u4e86\u83b7\u5229\u56de\u5410\u6d3b\u52a8\u7684\u89c4\u6a21\u3002\u4ece\u5386\u53f2\u4e0a\u770b\uff0c\u5728\u9700\u6c42\u67af\u7aed\u4e4b\u524d\uff0c\u6bcf\u6708\u5b9e\u73b0\u7684\u5229\u6da6\u5728 300 \u4ebf\u7f8e\u5143\u81f3 500 \u4ebf\u7f8e\u5143\u4e4b\u95f4\uff0c\u8fd9\u901a\u5e38\u9884\u793a\u7740\u4e00\u4e2a\u51b7\u9759\u671f\u3002<\/p>\n<p>\u76ee\u524d\uff0c\u81ea\u8fdb\u5165\u6700\u65b0\u7684 ATH \u63a2\u7d22\u9636\u6bb5\u4ee5\u6765\uff0c\u6211\u4eec\u5df2\u5b9e\u73b0 204 \u4ebf\u7f8e\u5143\u7684\u5229\u6da6\u3002\u867d\u7136\u83b7\u5229\u56de\u5410\u5e45\u5ea6\u5f88\u5927\uff0c\u4f46\u4ecd\u4f4e\u4e8e\u5386\u53f2\u5cf0\u503c\uff0c\u8fd9\u8868\u660e\u5728\u8fbe\u5230\u6f5c\u5728\u9700\u6c42\u67af\u7aed\u4e4b\u524d\u8fd8\u6709\u8fdb\u4e00\u6b65\u4e0a\u6da8\u7684\u7a7a\u95f4\u3002<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.web3sj.com\/wp-content\/uploads\/2024\/11\/1731466906508352.jpg\" alt=\"Glassnode \u6d1e\u5bdf\uff1a\u9009\u4e3e\u540e\u8d44\u91d1\u6d41\u4e0e\u73b0\u8d27\u5e02\u573a\u5f3a\u52b2\u9a71\u52a8\u7684\u6df1\u5c42\u89e3\u6790\uff0c\u672a\u6765\u8fd8\u4f1a\u7ee7\u7eed\u4e0a\u6da8\u5417\uff1f\" \/><img decoding=\"async\" class=\"j-lazy\" src=\"https:\/\/www.web3sj.com\/wp-content\/themes\/justnews\/themer\/assets\/images\/lazy.png\" data-original=\"https:\/\/www.web3sj.com\/wp-content\/uploads\/2024\/11\/1731466906508352.jpg\" alt=\"Glassnode \u6d1e\u5bdf\uff1a\u9009\u4e3e\u540e\u8d44\u91d1\u6d41\u4e0e\u73b0\u8d27\u5e02\u573a\u5f3a\u52b2\u9a71\u52a8\u7684\u6df1\u5c42\u89e3\u6790\uff0c\u672a\u6765\u8fd8\u4f1a\u7ee7\u7eed\u4e0a\u6da8\u5417\uff1f\" \/><\/figure>\n<p><strong>\u4ef7\u683c\u53d1\u73b0\u6ce2\u6bb5\u5e26<\/strong><\/p>\n<p>\u968f\u7740\u6211\u4eec\u8fdb\u5165\u65b0\u7684 ATH \u53d1\u73b0\u9636\u6bb5\uff0c\u786e\u5b9a\u6700\u6709\u6548\u7684\u4ef7\u683c\u6a21\u578b\u6765\u5e94\u5bf9\u8fd9\u79cd\u6fc0\u70c8\u7684\u5e02\u573a\u6d3b\u52a8\u53d8\u5f97\u81f3\u5173\u91cd\u8981\u3002\u6b64\u56fe\u8868\u663e\u793a\u4e86\u65b0\u6295\u8d44\u8005\u7684\u6210\u672c\u57fa\u7840\u4ee5\u53ca\u7edf\u8ba1\u4e0a\u9650\u548c\u4e0b\u9650\uff08\u00b11 \u4e2a\u6807\u51c6\u5dee\uff09\u3002<\/p>\n<p>\u5728 ATH \u53d1\u73b0\u9636\u6bb5\uff0c\u968f\u7740\u65b0\u6295\u8d44\u8005\u4ee5\u66f4\u9ad8\u7684\u4ef7\u683c\u8fdb\u5165\u5e02\u573a\uff0c\u6bd4\u7279\u5e01\u7684\u4ef7\u683c\u901a\u5e38\u4f1a\u591a\u6b21\u63a5\u8fd1\u5e76\u6d4b\u8bd5\u4e0a\u9650\uff0c\u8fd9\u662f\u7531\u5f3a\u52b2\u7684\u9700\u6c42\u52bf\u5934\u63a8\u52a8\u7684\u3002\u76ee\u524d\uff0c\u6bd4\u7279\u5e01\u7684\u4ef7\u683c\u4e3a 87.9 \u4e07\u7f8e\u5143\uff0c\u7565\u4f4e\u4e8e\u4e0a\u9650 94.9 \u4e07\u7f8e\u5143\u3002\u76d1\u63a7\u4e0e\u8fd9\u4e9b\u6ce2\u6bb5\u7684\u63a5\u8fd1\u7a0b\u5ea6\uff0c\u5c24\u5176\u662f\u4e0a\u6ce2\u6bb5\u548c\u4e2d\u6ce2\u6bb5\uff0c\u53ef\u4ee5\u7a81\u51fa\u5e02\u573a\u9700\u6c42\u65fa\u76db\u7684\u65f6\u671f\uff0c\u53cd\u6620\u51fa\u65b0\u8d44\u672c\u5728\u53cd\u5f39\u9636\u6bb5\u8fdb\u5165\u5e02\u573a\u7684\u70ed\u60c5\u3002<\/p>\n<p>\u76ee\u524d\uff0c\u6bd4\u7279\u5e01\u73b0\u8d27\u4ef7\u683c\u4e3a 87.9 \u4e07\u7f8e\u5143\uff0c\u4f4e\u4e8e 94.9 \u4e07\u7f8e\u5143\u7684\u4e0a\u9650\u3002\u76d1\u63a7\u8fd9\u4e9b\u533a\u95f4\u7684\u63a5\u8fd1\u7a0b\u5ea6\uff0c\u5c24\u5176\u662f\u4e0a\u9650\u548c\u4e2d\u9650\uff0c\u53ef\u4ee5\u7a81\u51fa\u663e\u793a\u9700\u6c42\u65fa\u76db\u7684\u65f6\u671f\u4f55\u65f6\u4f1a\u653e\u7f13\uff0c\u4ee5\u53ca\u4ef7\u683c\u4f55\u65f6\u9ad8\u5230\u8db3\u4ee5\u8ba9\u8bb8\u591a\u73b0\u6709\u6301\u6709\u8005\u52a0\u5927\u5356\u65b9\u538b\u529b\u3002<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.web3sj.com\/wp-content\/uploads\/2024\/11\/1731466951361912.jpg\" alt=\"Glassnode \u6d1e\u5bdf\uff1a\u9009\u4e3e\u540e\u8d44\u91d1\u6d41\u4e0e\u73b0\u8d27\u5e02\u573a\u5f3a\u52b2\u9a71\u52a8\u7684\u6df1\u5c42\u89e3\u6790\uff0c\u672a\u6765\u8fd8\u4f1a\u7ee7\u7eed\u4e0a\u6da8\u5417\uff1f\" \/><img decoding=\"async\" class=\"j-lazy\" src=\"https:\/\/www.web3sj.com\/wp-content\/themes\/justnews\/themer\/assets\/images\/lazy.png\" data-original=\"https:\/\/www.web3sj.com\/wp-content\/uploads\/2024\/11\/1731466951361912.jpg\" alt=\"Glassnode \u6d1e\u5bdf\uff1a\u9009\u4e3e\u540e\u8d44\u91d1\u6d41\u4e0e\u73b0\u8d27\u5e02\u573a\u5f3a\u52b2\u9a71\u52a8\u7684\u6df1\u5c42\u89e3\u6790\uff0c\u672a\u6765\u8fd8\u4f1a\u7ee7\u7eed\u4e0a\u6da8\u5417\uff1f\" \/><\/figure>\n<p>\u76ee\u524d\u5df2\u5b9e\u73b0\u5229\u6da6\u91cf\u5e73\u5747\u7ea6\u4e3a\u6bcf\u5929 15.6 \u4ebf\u7f8e\u5143\uff0c\u5176\u4e2d\u957f\u671f\u6301\u6709\u8005\u8d21\u732e\u4e86 7.2 \u4ebf\u7f8e\u5143\uff0c\u5360\u603b\u989d\u7684 46%\u3002<\/p>\n<p>\u5c3d\u7ba1\u83b7\u5229\u56de\u5410\u6d3b\u52a8\u6709\u6240\u589e\u52a0\uff0c\u4f46\u7d2f\u8ba1\u5df2\u5b9e\u73b0\u5229\u6da6\u91cf\u7ea6\u4e3a\u524d\u51e0\u6b21\u5468\u671f\u6027 ATH \u671f\u95f4\u8bb0\u5f55\u7684\u4e00\u534a\uff08\u7a81\u7834 30 \u4ebf\u7f8e\u5143 \/ \u5929\uff0c\u5176\u4e2d 50% 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data-original=\"https:\/\/www.web3sj.com\/wp-content\/uploads\/2024\/11\/1731466966060032.jpg\" alt=\"Glassnode \u6d1e\u5bdf\uff1a\u9009\u4e3e\u540e\u8d44\u91d1\u6d41\u4e0e\u73b0\u8d27\u5e02\u573a\u5f3a\u52b2\u9a71\u52a8\u7684\u6df1\u5c42\u89e3\u6790\uff0c\u672a\u6765\u8fd8\u4f1a\u7ee7\u7eed\u4e0a\u6da8\u5417\uff1f\" \/><\/figure>\n<p><strong>\u603b\u7ed3<\/strong><\/p>\n<p>\u672c\u671f\u7b80\u62a5\u5206\u6790\u4e86\u6bd4\u7279\u5e01\u8fd1\u671f\u7684\u5386\u53f2\u9ad8\u70b9\uff0c\u8fd9\u4e3b\u8981\u5f97\u76ca\u4e8e\u73b0\u8d27\u5e02\u573a\u9700\u6c42\u5f3a\u52b2\uff0c\u4e3b\u8981\u662f\u901a\u8fc7\u7f8e\u56fd\u73b0\u8d27 ETF\u3002\u5927\u9009\u540e\uff0c\u673a\u6784\u6295\u8d44\u8005\u5174\u8da3\u6fc0\u589e\uff0c\u5927\u91cf\u8d44\u91d1\u6d41\u5165\u829d\u52a0\u54e5\u5546\u54c1\u4ea4\u6613\u6240 (CME) \u671f\u8d27\u548c ETF\uff0c\u6709\u5229\u4e8e\u73b0\u8d27\u6295\u8d44\uff0c\u5e76\u63a8\u52a8\u6bd4\u7279\u5e01\u8fdb\u5165\u65b0\u7684 ATH 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