Matrixport:比特币盈利收窄、动能减弱,市场或进入长期盘整阶段

链捕手
Oct 22, 2025

ChainCatcher 消息,据 Markus Thielen 分析师最新报告显示,比特币虽然价格维持在高位,但 “真实市场均价”(TMMP)指标反映市场利润正逐步收窄。

该指标又称 “活跃投资者价格”,用于衡量二级市场活跃投资者的整体持仓成本。与 90 日动能模型对比后发现,市场上行动能明显减弱,投资者信心走低。历史经验表明,这种变化往往预示市场情绪趋于谨慎。虽然该指标在 2023 至 2024 年初整体维持多头格局,但近期数据显示市场可能将进入更长期的盘整阶段。截至 2025 年,比特币价格虽仍处于盈利区间,但市场参与者应警惕动能持续减弱的风险。

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