{"id":51759,"date":"2026-07-25T03:57:12","date_gmt":"2026-07-25T03:57:12","guid":{"rendered":"https:\/\/www.vtmarkets.com\/cn-asia\/uncategorized\/glassnode%e4%b8%8ecoinbase%e6%8c%87%e5%87%ba%e6%af%94%e7%89%b9%e5%b8%81%e6%97%a9%e6%9c%9f%e7%ad%91%e5%ba%95%e8%bf%b9%e8%b1%a1%ef%bc%8c%e6%b5%81%e5%8a%a8%e6%80%a7%e5%91%a8%e6%9c%9f%e9%a9%b1%e5%8a%a8\/"},"modified":"2026-07-25T03:57:12","modified_gmt":"2026-07-25T03:57:12","slug":"glassnode%e4%b8%8ecoinbase%e6%8c%87%e5%87%ba%e6%af%94%e7%89%b9%e5%b8%81%e6%97%a9%e6%9c%9f%e7%ad%91%e5%ba%95%e8%bf%b9%e8%b1%a1%ef%bc%8c%e6%b5%81%e5%8a%a8%e6%80%a7%e5%91%a8%e6%9c%9f%e9%a9%b1%e5%8a%a8","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/cn-asia\/live-updates\/glassnode%e4%b8%8ecoinbase%e6%8c%87%e5%87%ba%e6%af%94%e7%89%b9%e5%b8%81%e6%97%a9%e6%9c%9f%e7%ad%91%e5%ba%95%e8%bf%b9%e8%b1%a1%ef%bc%8c%e6%b5%81%e5%8a%a8%e6%80%a7%e5%91%a8%e6%9c%9f%e9%a9%b1%e5%8a%a8\/","title":{"rendered":"Glassnode\u4e0eCoinbase\u6307\u51fa\u6bd4\u7279\u5e01\u65e9\u671f\u7b51\u5e95\u8ff9\u8c61\uff0c\u6d41\u52a8\u6027\u5468\u671f\u9a71\u52a8\u7b2c\u4e09\u5b63\u5ea6\u5e02\u573a\u8d70\u52bf"},"content":{"rendered":"<p>Glassnode \u4e0e Coinbase Institutional \u8054\u5408\u53d1\u5e03\u7684\u7b2c\u4e09\u5b63\u5ea6\u62a5\u544a\u6307\u51fa\uff0c\u6bd4\u7279\u5e01\uff08BTC\uff09\u6b63\u5904\u4e8e\u6f5c\u5728\u7b51\u5e95\u8fc7\u7a0b\u7684\u65e9\u671f\u9636\u6bb5\uff0c\u4f46\u5c1a\u672a\u6784\u6210\u7a33\u56fa\u3001\u53ef\u6301\u7eed\u7684\u4f4e\u70b9\u3002\u4e24\u5bb6\u673a\u6784\u5728\u672c\u5b63\u5ea6\u7ef4\u6301\u4e2d\u6027\u7acb\u573a\uff0c\u5e76\u5c06\u4ef7\u683c\u8d70\u52bf\u66f4\u591a\u5f52\u56e0\u4e8e\u6d41\u52a8\u6027\u5468\u671f\uff0c\u800c\u975e\u52a0\u5bc6\u5e02\u573a\u81ea\u8eab\u7684\u50ac\u5316\u56e0\u7d20\uff0c\u56e0\u4e3a\u5b8f\u89c2\u6d41\u52a8\u6027\u73af\u5883\u4ecd\u4fdd\u6301\u7a33\u5065\u3002\u7b2c\u4e8c\u5b63\u5ea6\uff0c\u52a0\u5bc6\u8d27\u5e01\u603b\u5e02\u503c\u4e0b\u8dcc\u7ea612%\uff0c\u4e0e\u6b64\u540c\u65f6\u7a33\u5b9a\u5e01\u4f9b\u5e94\u91cf\u521b\u5386\u53f2\u65b0\u9ad8\u3001\u5176\u5e02\u5360\u7387\u4e0a\u5347\uff0c\u663e\u793a\u8d44\u91d1\u6b63\u8f6e\u52a8\u6d41\u5411\u7a33\u5b9a\u5e01\u3002\u672c\u8f6e\u6bd4\u7279\u5e01\u5468\u671f\u59cb\u4e8e2022\u5e74\uff0c\u81f3\u4eca\u5df2\u8fd0\u884c42\u4e2a\u6708\uff0c\u5e76\u57282025\u5e74\u7b2c\u4e00\u5b63\u5ea6\u5f00\u59cb\u4e0e2015\u201318\u5e74\u7684\u8d70\u52bf\u6a21\u5f0f\u51fa\u73b0\u5206\u5316\u3002<\/p>\n\n<p>\u8de8\u8d44\u4ea7\u76f8\u5173\u6027\u4e5f\u51fa\u73b0\u53d8\u5316\uff1aBTC \u65e5\u5ea6\u56de\u62a5\u4e0e\u6807\u666e500\u7684\u76f8\u5173\u6027\u57282026\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u4ece2025\u5e74\u7b2c\u56db\u5b63\u5ea6\u76840.58\u4e0b\u6ed1\u81f30.12\uff1b\u4e0e\u9ec4\u91d1\u7684\u76f8\u5173\u6027\u5219\u4e0a\u5347\u81f30.57\u3002\u94fe\u4e0a\u6307\u6807\u65b9\u9762\uff0cBTC \u7684 MVRV \u6bd4\u7387\u5728\u7b2c\u4e8c\u5b63\u5ea6\u903c\u8fd11\uff0c\u5904\u4e8e\u76c8\u5229\u72b6\u6001\u7684\u4f9b\u5e94\u5360\u6bd4\u8dcc\u7834\u5176\u7edf\u8ba1\u4e0b\u8f68\uff0c\u7b26\u5408\u5386\u53f2\u4e0a\u8fdb\u5165\u7b2c\u4e09\u5b63\u5ea6\u524d\u5e38\u89c1\u7684\u201c\u7d2f\u79ef\u533a\u201d\u7279\u5f81\u3002\u7ecf\u5b9e\u4f53\u8c03\u6574\u540e\u7684 NUPL \u4e0b\u63a2\u81f3\u63a5\u8fd1\u201c\u6295\u964d\u5f0f\u629b\u552e\uff08Capitulation\uff09\u201d\u7684\u6050\u60e7\u533a\u95f4\uff1b\u884d\u751f\u54c1\u672a\u5e73\u4ed3\u5408\u7ea6\uff08Open Interest\uff09\u4ecd\u663e\u8457\u4f4e\u4e8e2025\u5e74\u672b\u9ad8\u5cf0\uff1bBTC \u62a564,140\u7f8e\u5143\uff0c24\u5c0f\u65f6\u4e0b\u8dcc1.6%\u3002<\/p>\n\n<h3>\u957f\u671f\u5e95\u90e8\u5f62\u6210\u4e0e\u7d2f\u79ef\u9636\u6bb5<\/h3>\n\n<p>\u968f\u7740\u6211\u4eec\u57282026\u5e74\u7b2c\u4e09\u5b63\u5ea6\u8fdb\u4e00\u6b65\u63a8\u8fdb\uff0c\u76ee\u524d\u53ef\u89c2\u5bdf\u5230\u5f3a\u70c8\u8ff9\u8c61\u663e\u793a\uff0c\u6bd4\u7279\u5e01\u6b63\u5728\u6253\u9020\u4e00\u4e2a\u957f\u671f\u5e95\u90e8\u3002\u7531\u4e8e\u6295\u673a\u6d3b\u52a8\u5df2\u8dcc\u81f3\u591a\u5e74\u4f4e\u4f4d\uff0c\u800c\u957f\u671f\u6301\u6709\u884c\u4e3a\u589e\u52a0\uff0c\u5e02\u573a\u66f4\u53ef\u80fd\u8fdb\u5165\u7f13\u6162\u3001\u9707\u8361\u7684\u7d2f\u79ef\u9636\u6bb5\uff0c\u800c\u975e\u51fa\u73b0\u7a81\u7136\u3001\u7206\u53d1\u5f0f\u7684\u62c9\u5347\u3002\u5bf9\u884d\u751f\u54c1\u4ea4\u6613\u8005\u800c\u8a00\uff0c\u8fd9\u610f\u5473\u7740\u672a\u6765\u6570\u5468\u5e94\u907f\u514d\u6fc0\u8fdb\u52a0\u6760\u6746\uff0c\u7b49\u5f85\u5e02\u573a\u6784\u5efa\u66f4\u7a33\u56fa\u7684\u5e95\u90e8\u652f\u6491\u3002<\/p>\n\n<h3>\u76f8\u5173\u6027\u8f6c\u79fb\u4e0e\u7b56\u7565\u542b\u4e49<\/h3>\n\n<p>\u6211\u4eec\u9700\u8981\u5c06\u5173\u6ce8\u91cd\u70b9\u4ece\u80a1\u5e02\u79fb\u5f00\uff0c\u56e0\u4e3a\u6bd4\u7279\u5e01\u4e0e\u6807\u666e500\u7684\u76f8\u5173\u6027\u5728\u4eca\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u5927\u5e45\u4e0b\u6ed1\u81f3\u4ec50.12\u3002\u76f8\u5bf9\u5730\uff0c\u9274\u4e8e\u6bd4\u7279\u5e01\u4e0e\u9ec4\u91d1\u7684\u76f8\u5173\u6027\u5df2\u6500\u5347\u81f30.57\uff0c\u6211\u4eec\u5e94\u66f4\u5bc6\u5207\u8ffd\u8e2a\u9ec4\u91d1\u8d70\u52bf\u4e0e\u5b8f\u89c2\u6d41\u52a8\u6027\u53d8\u5316\u3002\u5728\u5168\u7403\u6d41\u52a8\u6027\u5468\u671f\u5bf9\u4ef7\u683c\u8868\u73b0\u5f71\u54cd\u663e\u8457\u7684\u80cc\u666f\u4e0b\uff0c\u4ea4\u6613\u7b56\u7565\u5e94\u4e0e\u66f4\u5e7f\u6cdb\u7684\u8d27\u5e01\u73af\u5883\u8f6c\u5411\u5bf9\u9f50\uff0c\u800c\u4e0d\u662f\u4ec5\u56f4\u7ed5\u52a0\u5bc6\u884c\u4e1a\u6d88\u606f\u5e03\u5c40\u3002<\/p>\n\n<p>\u4e3a\u652f\u6491\u8fd9\u4e00\u89c2\u70b9\uff0c\u53ef\u4ece\u5b8f\u89c2\u5c42\u9762\u89c2\u5bdf\uff1a\u7f8e\u8054\u50a8\u57fa\u51c6\u5229\u7387\u57282026\u5e74\u5e74\u4e2d\u4ecd\u5927\u81f4\u7ef4\u6301\u57284.0%\u9644\u8fd1\uff0c\u4f7f\u5168\u7403\u6d41\u52a8\u6027\u7ef4\u6301\u504f\u7d27\u3002\u6b64\u5916\uff0c\u7f8e\u56fd\u73b0\u8d27\u6bd4\u7279\u5e01ETF\u57287\u6708\u521d\u7684\u51c0\u6d41\u5165\u51fa\u73b0\u6e29\u548c\u653e\u7f13\uff0c\u53cd\u6620\u673a\u6784\u4e70\u76d8\u77ed\u6682\u505c\u6b47\u3002\u6211\u4eec\u53ef\u5229\u7528\u8fd9\u6bb5\u76f8\u5bf9\u5b89\u9759\u7684\u7a97\u53e3\u671f\uff0c\u90e8\u7f72\u533a\u95f4\u578b\u884d\u751f\u54c1\u7b56\u7565\uff08\u5982\u94c1\u79c3\u9e70 iron condor\uff09\uff0c\u5728\u6ce2\u52a8\u7387\u504f\u4f4e\u65f6\u6355\u6349\u6743\u5229\u91d1\u6536\u76ca\u3002<\/p>\n\n<p>\u7531\u4e8e\u672a\u5e73\u4ed3\u5408\u7ea6\u4ecd\u8fdc\u4f4e\u4e8e2025\u5e74\u672b\u7684\u5cf0\u503c\uff0c\u76ee\u524d\u51fa\u73b0\u5927\u89c4\u6a21\u3001\u7a81\u53d1\u6027\u5f3a\u5e73\u7684\u98ce\u9669\u76f8\u5bf9\u8f83\u4f4e\u3002\u7136\u800c\uff0c\u4ecd\u9700\u8b66\u60d5\u4e0b\u884c\u98ce\u9669\uff1a\u4e00\u65e6\u8dcc\u7834\u5173\u952e\u652f\u6491\u4f4d\uff0c\u53ef\u80fd\u5f15\u53d1\u6ede\u540e\u7684\u201c\u6295\u964d\u5f0f\u629b\u552e\u201d\u3002\u5efa\u8bae\u7ef4\u6301\u4fdd\u5b88\u4ed3\u4f4d\u89c4\u6a21\uff0c\u5e76\u5728\u9690\u542b\u6ce2\u52a8\u7387\u8f83\u4f4e\u3001\u671f\u6743\u5b9a\u4ef7\u504f\u4fbf\u5b9c\u65f6\uff0c\u4fa7\u91cd\u9010\u6b65\u7d2f\u79ef\u957f\u671f\u770b\u6da8\u671f\u6743\uff08long-term call options\uff09\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><b>\u7acb\u5373\u5f00\u59cb\u4ea4\u6613 \u2014 \u70b9\u51fb<a href=\"https:\/\/www.vtmarkets.com\/cn-asia\/trade-now\/\">\u8fd9\u91cc<\/a>\u521b\u5efa\u60a8\u7684 VT Markets \u771f\u5b9e\u8d26\u6237\u3002<\/b>\n\n<\/p>","protected":false},"excerpt":{"rendered":"<p>\u7b51\u5e95\u624d\u521a\u5f00\u59cb\uff1fGlassnode\u00d7Coinbase\uff1aBTC\u6216\u5904\u65e9\u671f\u7d2f\u79ef\u533a\uff0c\u4f4e\u70b9\u672a\u7a33\uff1b\u5e02\u503c\u56de\u843d\u3001\u7a33\u5b9a\u5e01\u5438\u91d1\u3002\u4e0e\u6807\u666e\u76f8\u5173\u964d\u81f30.12\u3001\u9ec4\u91d1\u5347\u81f30.57\uff1b\u5efa\u8bae\u8f7b\u6760\u6746\u3001\u533a\u95f4\u7b56\u7565\uff0c\u9632\u7834\u4f4d\u6295\u964d\u3002<\/p>\n","protected":false},"author":87,"featured_media":49971,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[33],"tags":[],"class_list":["post-51759","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-live-updates"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vtmarkets.com\/cn-asia\/wp-json\/wp\/v2\/posts\/51759","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/cn-asia\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/cn-asia\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/cn-asia\/wp-json\/wp\/v2\/users\/87"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/cn-asia\/wp-json\/wp\/v2\/comments?post=51759"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/cn-asia\/wp-json\/wp\/v2\/posts\/51759\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/cn-asia\/wp-json\/wp\/v2\/media\/49971"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/cn-asia\/wp-json\/wp\/v2\/media?parent=51759"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/cn-asia\/wp-json\/wp\/v2\/categories?post=51759"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/cn-asia\/wp-json\/wp\/v2\/tags?post=51759"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}