ChainCatcher 消息，CryptoQuant 分析师 Darkfost 发文称，链上数据显示，比特币的“卖家衰竭模型”指标已降至熊市以来的最低水平。该模型通过对比市场盈利供应比例与平均月度波动率，来衡量卖家是否仍有足够的筹码继续压低价格。
随着 BTC 已从前期高点回调超 10%，市场上的短期获利盘基本了结，卖方动能明显减弱。从历史规律来看，这种抛售压力的急剧下降通常有助于市场底部的形成。分析师同时警告，卖压减轻并不等同于市场会立刻反弹。目前的核心矛盾在于尽管卖家已经平静，但市场仍然缺乏足够的“新增需求”来推动价格上行，在买盘资金实质性回归之前，比特币的上行空间依然受限。
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