{"id":6111,"date":"2025-12-20T03:19:16","date_gmt":"2025-12-19T19:19:16","guid":{"rendered":"https:\/\/www.dm-yq.com\/?p=6111"},"modified":"2025-12-20T03:19:16","modified_gmt":"2025-12-19T19:19:16","slug":"%e6%af%94%e7%89%b9%e5%b8%81%e6%96%b0%e9%ab%98%e5%90%8e%e5%87%ba%e7%8e%b0%e3%80%8c%e9%80%83%e9%a1%b6%e3%80%8d%e8%ae%af%e5%8f%b7%ef%bc%9f%e9%95%bf%e6%9c%9f%e6%8c%81%e6%9c%89%e8%80%85%e8%8e%b7%e5%88%a9","status":"publish","type":"post","link":"https:\/\/www.dm-yq.com\/?p=6111","title":{"rendered":"\u6bd4\u7279\u5e01\u65b0\u9ad8\u540e\u51fa\u73b0\u300c\u9003\u9876\u300d\u8baf\u53f7\uff1f\u957f\u671f\u6301\u6709\u8005\u83b7\u5229\u4e86\u7ed3\uff0c\u5e02\u573a\u8fdb\u5165\u5206\u914d\u8d5b\u5c40\u9636\u6bb5"},"content":{"rendered":"

\u6301\u5e01\u8d85\u8fc7 1 \u5e74\u7684\u65cf\u7fa4\u5728\u8fd1\u671f\u5356\u51fa\u4e2d\u5360\u4e3b\u5bfc\u5730\u4f4d\u3002\u672a\u6765\u51e0\u5468\u5bf9\u4e8e\u786e\u5b9a\u8fd9\u662f\u4e2d\u671f\u76d8\u6574\u8fd8\u662f\u66f4\u5e7f\u6cdb\u9876\u90e8\u5f62\u6210\u7684\u5f00\u59cb\u81f3\u5173\u91cd\u8981\u3002
\n
<\/p>\n

\u4f5c\u8005\uff1aGlassnode<\/p>\n

\u7f16\u8bd1\uff1aFelix\uff0cPANews<\/p>\n

\u56e0\u957f\u671f\u6301\u6709\u8005\u5f00\u59cb\u83b7\u5229\u4e86\u7ed3\uff0c\u6bd4\u7279\u5e01\u5728\u89e6\u53ca 11.18 \u4e07\u7f8e\u5143\u7684\u65b0\u9ad8\u540e\u5f00\u59cb\u56de\u6863\u3002\u5173\u952e\u652f\u6491\u4f4d\u5728 10.37 \u4e07\u7f8e\u5143\u548c 9.56 \u4e07\u7f8e\u5143\uff0c\u4e14\u6709\u8ff9\u8c61\u663e\u793a\u957f\u671f\u6295\u8d44\u8005\u5728\u629b\u552e\uff0c\u591a\u5934\u76ee\u524d\u9762\u4e34\u4e25\u5cfb\u8003\u9a8c\u3002<\/p>\n

\u6bd4\u7279\u5e01\u8fbe\u5230\u4e86 11.18 \u4e07\u7f8e\u5143\u7684\u5386\u53f2\u65b0\u9ad8\uff0c\u4f46\u5f88\u5feb\u5c31\u56de\u843d\u81f3 10.32 \u4e07\u7f8e\u5143\u3002\u6700\u521d\u7684\u4e0a\u6da8\u4f3c\u4e4e\u662f\u7531\u73b0\u8d27\u5e02\u573a\u63a8\u52a8\uff0c\u4e3b\u8981\u7684\u5438\u7b79\u533a\u57df 8.1 \u4e07\u7f8e\u5143\u81f3 8.5 \u4e07\u7f8e\u5143\u3001 9.3 \u4e07\u7f8e\u5143\u81f3 9.6 \u4e07\u7f8e\u5143\u4ee5\u53ca 10.2 \u4e07\u7f8e\u5143\u81f3 10.4 \u4e07\u7f8e\u5143\uff0c\u73b0\u5df2\u6210\u4e3a\u6f5c\u5728\u7684\u652f\u6491\u4f4d\u3002
\n\u4ece\u66f4\u5b8f\u89c2\u7684\u89d2\u5ea6\u6765\u770b\uff0c\u900f\u8fc7 CBD \u70ed\u56fe\uff0c\u8bb8\u591a\u5386\u53f2\u5438\u7b79\u533a\u57df\u5df2\u8f6c\u53d8\u4e3a\u5356\u51fa\u533a\u57df\u3002\u6765\u81ea 2.5 \u4e07\u7f8e\u5143\u81f3 3.1 \u4e07\u7f8e\u5143\u3001 3.8 \u4e07\u7f8e\u5143\u81f3 4.4 \u4e07\u7f8e\u5143\u4ee5\u53ca 6 \u4e07\u7f8e\u5143\u81f3 7.3 \u4e07\u7f8e\u5143\u533a\u95f4\u7684\u5356\u5bb6\uff0c\u6b63\u5728\u5bf9\u4ef7\u683c\u8d70\u52bf\u6784\u6210\u538b\u529b\u3002
\n\u6210\u672c\u57fa\u7840\u5206\u4f4d\u6570\u548c\u77ed\u671f\u6301\u6709\u8005\u533a\u95f4\u8868\u660e\uff0c\u8fd1\u671f\u652f\u6491\u4f4d\u5728 10.37 \u4e07\u7f8e\u5143\u548c 9.56 \u4e07\u7f8e\u5143\u9644\u8fd1\uff0c\u963b\u529b\u4f4d\u5728 11.48 \u4e07\u7f8e\u5143\u3002\u8fd9\u4e9b\u6c34\u51c6\u662f\u66f4\u5e7f\u6cdb\u5e02\u573a\u60c5\u7eea\u8f6c\u53d8\u7684\u91cd\u8981\u7edf\u8ba1\u6307\u6807\u3002
\n\u5df2\u5b9e\u73b0\u5229\u6da6\u98d9\u5347\u81f3\u6bcf\u5929 14.7 \u4ebf\u7f8e\u5143\/\u5929\uff0c\u6807\u5fd7\u8457\u6b64\u8f6e\u5468\u671f\u4e2d\u7684\u7b2c\u4e94\u6b21\u5927\u89c4\u6a21\u83b7\u5229\u4e86\u7ed3\u3002\u629b\u552e\u4e3b\u8981\u7531\u957f\u671f\u6301\u6709\u8005\u4e3b\u5bfc\uff0c\u800c\u975e\u77ed\u671f\u4ea4\u6613\u8005\u3002
\n\u6301\u5e01\u65f6\u95f4\u8d85\u8fc7 1 \u5e74\u7684\u65cf\u7fa4\u5728\u8fd1\u671f\u5356\u51fa\u4e2d\u5360\u4e3b\u5bfc\u5730\u4f4d\uff0c\u53cd\u6620\u51fa\u6210\u719f\u7684\u8d44\u672c\u8f6e\u52a8\u3002\u8fd9\u4e0e CBD \u70ed\u56fe\u5148\u524d\u7684\u89c2\u5bdf\u7ed3\u679c\u4e00\u81f4\uff0c\u8bc1\u5b9e\u8d44\u6df1\u6295\u8d44\u8005\u6b63\u5728\u5851\u9020\u5f53\u524d\u7684\u9876\u90e8\u5f62\u6210\u9636\u6bb5\u3002
\n\u6da8\u52bf\u9636\u68af\u56fe<\/p>\n

\u8fc7\u53bb\u4e24\u5468\uff0c\u6bd4\u7279\u5e01\u5ef6\u7eed\u6da8\u52bf\uff0c\u521b\u4e0b 11.18 \u4e07\u7f8e\u5143\u7684\u65b0\u9ad8\uff0c\u5e76\u77ed\u6682\u8d85\u8d8a\u4e86 2025 \u5e74 1 \u6708\u521b\u4e0b\u7684\u65b0\u9ad8\u3002\u7136\u800c\uff0c\u968f\u540e\u56de\u8c03\u81f3 10.32 \u4e07\u7f8e\u5143\uff0c\u9884\u793a\u8457\u770b\u6da8\u52bf\u5934\u53ef\u80fd\u51fa\u73b0\u6682\u505c\u3002<\/p>\n

\u8981\u4e86\u89e3\u6b64\u6b21\u53cd\u5f39\u7684\u5185\u5728\u7ed3\u6784\uff0c\u53ef\u501f\u52a9 CBD \u70ed\u56fe \uff08PANews\u6ce8\uff1aCBD\u70ed\u56fe\u662f\u5c06Cumulative Volume Delta\u6570\u636e\u4ee5\u70ed\u56fe\u7684\u5f62\u5f0f\u5c55\u793a\uff09\uff0c\u5b83\u80fd\u8ffd\u8e2a\u4e0d\u540c\u4ef7\u4f4d\u4e0a\u6fc0\u8fdb\u4e70\u5165\u4e0e\u5356\u51fa\u4e4b\u95f4\u7684\u51c0\u5dee\u503c\u3002\u4ece\u89c6\u89c9\u4e0a\u770b\uff0c\u5b83\u80fd\u63ed\u793a\u51fa\u7531\u73b0\u8d27\u9a71\u52a8\u7684\u96c6\u4e2d\u6027\u7d2f\u79ef\u6216\u629b\u552e\u533a\u57df\uff0c\u6709\u52a9\u4e8e\u786e\u5b9a\u9700\u6c42\u6700\u5f3a\u52b2\u7684\u4ef7\u4f4d\u533a\u95f4\u3002<\/p>\n

\u4ece\u70ed\u56fe\u6765\u770b\uff0c\u6b64\u6b21\u53cd\u5f39\u4ee5\u73b0\u8d27\u9a71\u52a8\u4e3a\u4e3b\uff0c\u5e76\u4e14\u5448\u9636\u68af\u5f0f\u4e0a\u6da8\uff0c\u5728 8.1 \u4e07\u81f3 8.5 \u4e07\u7f8e\u5143\u3001 9.3 \u4e07\u81f3 9.6 \u4e07\u7f8e\u5143\u4ee5\u53ca 10.2 \u4e07\u81f3 10.4 \u4e07\u7f8e\u5143\u533a\u95f4\u6709\u660e\u663e\u7684\u79ef\u7d2f\u533a\u3002\u8fd9\u4e9b\u533a\u57df\u73b0\u5728\u6709\u53ef\u80fd\u6210\u4e3a\u4f9b\u5e94\u5bc6\u96c6\u533a\uff0c\u5728\u5e02\u573a\u6574\u4f53\u60c5\u7eea\u7684\u5f71\u54cd\u4e0b\uff0c\u53ef\u80fd\u4f1a\u8d77\u5230\u77ed\u671f\u652f\u6491\u4f5c\u7528\u3002<\/p>\n

\u503c\u5f97\u6ce8\u610f\u7684\u662f\uff0c\u4eca\u5e74\u7b2c\u4e00\u5b63\u7684\u9876\u7ea7\u4e70\u5bb6\u5728\u4ef7\u683c\u8dcc\u7834 8 \u4e07\u7f8e\u5143\u540e\u4e00\u76f4\u6301\u6709\uff0c\u5982\u4eca\u968f\u8457\u4ef7\u683c\u5728 11 \u4e07\u7f8e\u5143\u9644\u8fd1\u5f98\u5f8a\uff0c\u4ed6\u4eec\u518d\u6b21\u9762\u4e34\u8003\u9a8c\u3002\u672c\u6587\u5c06\u63a2\u8ba8\u8fd1\u671f\u9700\u6c42\u80cc\u540e\u9010\u6e10\u51cf\u5f31\u7684\u52a8\u80fd\u3001\u524a\u5f31\u5e02\u573a\u529b\u91cf\u7684\u56e0\u7d20\uff0c\u4ee5\u53ca\u5982\u679c\u5e02\u573a\u6301\u7eed\u75b2\u8f6f\uff0c\u6f5c\u5728\u652f\u6491\u4f4d\u53ef\u80fd\u51fa\u73b0\u5728\u4f55\u5904\u3002<\/p>\n

\"\"\u6765\u6e90\uff1aGlassnode
\n\u957f\u671f\u6301\u6709\u8005\u629b\u538b<\/p>\n

\u8981\u7406\u89e3\u63a8\u52a8\u6bd4\u7279\u5e01\u8fd1\u671f\u7a81\u7834 11.1 \u4e07\u7f8e\u5143\u7684\u9a71\u52a8\u529b\uff0c\u9700\u8981\u4ece\u66f4\u5e7f\u6cdb\u7684\u5e02\u573a\u7ed3\u6784\u89d2\u5ea6\u6765\u68c0\u89c6\u3002\u900f\u8fc7\u67e5\u770b 2022 \u5e74 6 \u6708\u5468\u671f\u5e95\u90e8\u4ee5\u6765\u7684\u70ed\u56fe\uff0c\u8fc7\u53bb\u7d2f\u79ef\u6301\u5e01\u7684\u5206\u5e03\u6a21\u5f0f\u5f00\u59cb\u6e05\u6670\u53ef\u89c1\u3002<\/p>\n

\u968f\u8457\u4ef7\u683c\u4e0d\u65ad\u6500\u5347\uff0c\u5148\u524d\u4f5c\u4e3a\u7d2f\u79ef\u57fa\u7840\u7684\u4f9b\u5e94\u5bc6\u96c6\u533a\uff08\u901a\u5e38\u4ee5\u6a2a\u5411\u76d8\u6574\u4e3a\u7279\u5f81\uff09\uff0c\u5982\u4eca\u5df2\u8f6c\u53d8\u4e3a\u6d3b\u8dc3\u7684\u629b\u552e\u533a\u3002\u4ece\u89c6\u89c9\u4e0a\u770b\uff0c\u70ed\u56fe\u663e\u793a\u51fa\u4e00\u79cd\u6e10\u8fdb\u5f0f\u7684\u8f6c\u53d8\uff1b\u66fe\u7ecf\u652f\u6491\u4e0a\u6da8\u884c\u60c5\u7684\u533a\u57df\u5df2\u8f6c\u53d8\u4e3a\u963b\u529b\u4f4d\uff0c\u56e0\u4e3a\u65e9\u671f\u6301\u6709\u8005\u8d81\u673a\u629b\u552e\u3002<\/p>\n

\u6700\u663e\u8457\u7684\u629b\u538b\u6765\u81ea\u4e8e\u5728\u5173\u952e\u5386\u53f2\u533a\u95f4\uff082.5 \u4e07\u81f3 3.1 \u4e07\u7f8e\u5143\u548c 6 \u4e07\u81f3 7.3 \u4e07\u7f8e\u5143\uff09\u7d2f\u79ef\u6301\u80a1\u7684\u7fa4\u4f53\u3002\u8fd9\u4e9b\u7fa4\u4f53\u4e2d\u7684\u8bb8\u591a\u4eba\u7ecf\u5386\u4e86\u591a\u4e2a\u6ce2\u52a8\u9636\u6bb5\uff0c\u73b0\u5728\u6b63\u52a0\u5267\u4f9b\u5e94\u8fc7\u5269\uff0c\u4f3c\u4e4e\u81f3\u5c11\u5728\u77ed\u671f\u5185\u9650\u5236\u4e86\u6bd4\u7279\u5e01\u7684\u8fdb\u4e00\u6b65\u4e0a\u6da8\u3002<\/p>\n

\"\"\u6765\u6e90\uff1aGlassnode
\n\u4ef7\u683c\u53d1\u73b0\u7684\u63a2\u7d22<\/p>\n

\u968f\u8457\u957f\u671f\u6301\u6709\u8005\u9010\u6e10\u65bd\u52a0\u629b\u538b\uff0c\u77ed\u671f\u5185\u51fa\u73b0\u56de\u8c03\u7684\u53ef\u80fd\u6027\u6301\u7eed\u589e\u52a0\uff0c\u5c24\u5176\u662f\u5728\u7f3a\u4e4f\u5f3a\u52b2\u7684\u50ac\u5316\u5242\u63a8\u52a8\u6bd4\u7279\u5e01\u575a\u5b9a\u7a81\u7834 11.18 \u4e07\u7f8e\u5143\u7684\u60c5\u51b5\u4e0b\u3002\u5728\u8fd9\u79cd\u770b\u6da8\u52bf\u5934\u505c\u6ede\u7684\u9636\u6bb5\uff0c\u94fe\u4e0a\u5b9a\u4ef7\u6a21\u578b\u6210\u4e3a\u5728\u56de\u6863\u671f\u95f4\u8bc6\u522b\u6f5c\u5728\u652f\u6491\u4f4d\u7684\u91cd\u8981\u5de5\u5177\u3002<\/p>\n

\u4e00\u4e2a\u7279\u522b\u6709\u6548\u7684\u6846\u67b6\u662f Spent Supply Distribution\uff08SSD\uff09\u5206\u4f4d\u6570\u3002\u6b64\u6307\u6807\u5206\u6790\u7279\u5b9a\u65f6\u95f4\u4ee3\u5e01\u7684\u6210\u672c\u57fa\u7840\uff0c\u5c06\u5176\u5206\u4e3a 100 \u4e2a\u767e\u5206\u4f4d\u6570\u3002\u5b83\u63d0\u4f9b\u4e86\u4f9b\u5e94\u6700\u521d\u8fdb\u5165\u5e02\u573a\u7684\u9ad8\u89e3\u6790\u5ea6\u89c6\u56fe\uff0c\u4ece\u800c\u80fd\u591f\u786e\u5b9a\u5177\u6709\u8f83\u9ad8\u5468\u8f6c\u7387\u7684\u533a\u57df\uff0c\u8fd9\u4e9b\u533a\u57df\u53ef\u80fd\u662f\u7531\u83b7\u5229\u4e86\u7ed3\u6216\u4e8f\u635f\u5151\u73b0\u6240\u9a71\u52a8\u3002<\/p>\n

\u6b64\u5904\u91cd\u70b9\u5728\u4e8e\u4e09\u4e2a\u5173\u952e\u5206\u4f4d\u6570\uff1a<\/p>\n

\ud83d\udd34 0.95\uff08\u524d 5%\uff09
\n\ud83d\udd35 0.85\uff08\u524d 15%\uff09
\n\ud83d\udfe0 0.75\uff08\u524d 25%\uff09<\/p>\n

\u8fc7\u53bb\u4e94\u5e74\u7684\u5386\u53f2\u6a21\u5f0f\u8868\u660e\uff0c\u5f53\u4ef7\u683c\u9ad8\u4e8e 0.95 \u5206\u4f4d\u6570\u65f6\uff0c\u5f80\u5f80\u4f1a\u51fa\u73b0\u7edd\u5bf9\u7684\u72c2\u70ed\u60c5\u7eea\uff0c\u800c\u6a2a\u76d8\u725b\u5e02\u9636\u6bb5\u901a\u5e38\u53d1\u751f\u5728 0.85 \u81f3 0.95 \u4e4b\u95f4\u3002\u53e6\u4e00\u65b9\u9762\uff0c\u6301\u7eed\u4f4e\u4e8e 0.75 \u901a\u5e38\u6807\u5fd7\u8457\u718a\u5e02\u6216\u907f\u9669\u65f6\u671f\u3002<\/p>\n

\u76ee\u524d\uff0c0.95 \u5206\u4f4d\u6570\u4f4d\u4e8e\u7ea6 10.37 \u4e07\u7f8e\u5143\uff0c\u662f\u7b2c\u4e00\u4e2a\u94fe\u4e0a\u652f\u6491\u4f4d\u3002\u5982\u679c\u629b\u538b\u6301\u7eed\u5b58\u5728\uff0c\u4e0b\u4e00\u4e2a\u9700\u8981\u5173\u6ce8\u7684\u6c34\u5e73\u662f 0.85 \u5206\u4f4d\u6570\uff0c\u5373 9.56 \u4e07\u7f8e\u5143\uff0c\u8fd9\u53ef\u80fd\u63d0\u4f9b\u7ed3\u6784\u6027\u652f\u6491\uff0c\u6216\u8005\uff0c\u5982\u679c\u7a81\u7834\u8be5\u6c34\u5e73\uff0c\u5219\u786e\u8ba4\u66f4\u5e7f\u6cdb\u7684\u98ce\u9669\u91cd\u7f6e\u3002<\/p>\n

\"\"\u6765\u6e90\uff1aGlassnode<\/p>\n

 <\/p>\n

\u8fc7\u53bb\u516d\u4e2a\u6708\uff0c\u53d7\u4e24\u6b21\u521b\u4e0b\u5386\u53f2\u65b0\u9ad8\u7684\u63a8\u52a8\uff0c\u6bd4\u7279\u5e01\u4f9b\u5e94\u91cf\u5927\u5e45\u6613\u624b\uff0c\u56e0\u6b64\u8ffd\u8e2a\u8fd1\u671f\u6295\u8d44\u8005\u884c\u4e3a\u53d8\u5f97\u6108\u53d1\u91cd\u8981\u3002\u5176\u4e2d\u6700\u5177\u6d1e\u5bdf\u529b\u7684\u6a21\u578b\u4e4b\u4e00\u662f\u77ed\u671f\u6301\u6709\u8005\uff08STH\uff09\u6210\u672c\u57fa\u7840\uff0c\u5b83\u53cd\u6620\u4e86\u6301\u6709\u65f6\u95f4\u4e0d\u5230 155 \u5929\u7684\u6bd4\u7279\u5e01\u7684\u5e73\u5747\u8d2d\u5165\u4ef7\u683c\u3002<\/p>\n

\u4e3a\u4e86\u5b8c\u5584\u7edf\u8ba1\uff0c\u5728\u8fd9\u9879\u6210\u672c\u57fa\u7840\u4e0a\u5e94\u7528\u4e86\u300c\u6807\u51c6\u5dee\u901a\u9053\u300d\uff08standard deviation bands\uff09\uff0c\u4ee5\u754c\u5b9a\u5173\u952e\u7684\u652f\u6491\u548c\u963b\u529b\u533a\u57df\u3002\u8fd9\u4e9b\u6807\u51c6\u5dee\u901a\u9053\u5e26\u6709\u52a9\u4e8e\u91cf\u5316\u77ed\u671f\u53c2\u4e0e\u8005\u5e02\u573a\u5171\u8bc6\u7684\u8303\u56f4\uff0c\u5e76\u53ef\u80fd\u9884\u793a\u8d8b\u52bf\u8870\u7aed\u6216\u7a81\u7834\u9608\u503c\u3002<\/p>\n

\u76ee\u524d\uff0cSTH \u6210\u672c\u57fa\u7840\u4e3a 9.71 \u4e07\u7f8e\u5143\uff0c\u4ee3\u8868\u4e86\u8fd1\u671f\u4e70\u5bb6\u7684\u5e73\u5747\u4e70\u5165\u4ef7\u683c\u3002 +1 \u901a\u5e38\u4e0e\u8d85\u4e70\u6216\u770b\u6da8\u7a81\u7834\u72b6\u51b5\u76f8\u5173\uff0c\u5176\u4f4d\u7f6e\u5728 11.48 \u4e07\u7f8e\u5143\uff0c\u800c-1 \u7684\u4f4d\u7f6e\u5728 8.32 \u4e07\u7f8e\u5143\uff0c\u6807\u5fd7\u8457\u4e0b\u884c\u98ce\u9669\u7684\u4e0a\u5347\u3002<\/p>\n

\u8fd9\u4e09\u4e2a\u6c34\u51c6\uff0811.48 \u4e07\u7f8e\u5143\u3001 9.71 \u4e07\u7f8e\u5143\u548c 8.32 \u4e07\u7f8e\u5143\uff09\uff0c\u5982\u4eca\u754c\u5b9a\u4e86\u77ed\u671f\u5e02\u573a\u60c5\u7eea\u7684\u7edf\u8ba1\u8fb9\u754c\u3002\u7a81\u7834\u6216\u8dcc\u7834\u8fd9\u4e9b\u9608\u503c\u5f88\u53ef\u80fd\u4f1a\u51b3\u5b9a\u5e02\u573a\u4e0b\u4e00\u9636\u6bb5\u7684\u8d70\u5411\uff0c\u8868\u660e\u52bf\u5934\u662f\u5728\u589e\u5f3a\u8fd8\u662f\u5728\u51cf\u5f31\u3002<\/p>\n

\"\"\u6765\u6e90\uff1aGlassnode<\/p>\n

 <\/p>\n

\u968f\u8457\u6bd4\u7279\u5e01\u4ece\u8fd1\u671f\u7684 11.18 \u4e07\u7f8e\u5143\u9ad8\u70b9\u56de\u843d\uff0c\u5927\u90e8\u5206\u629b\u538b\u4f3c\u4e4e\u6765\u81ea\u5468\u671f\u5185\u7684\u8d44\u6df1\u6301\u6709\u8005\uff0c\u5373\u90a3\u4e9b\u5728\u6da8\u52bf\u521d\u671f\u79ef\u7d2f\u6bd4\u7279\u5e01\u5e76\u5982\u4eca\u5b9e\u73b0\u4e30\u539a\u6536\u76ca\u7684\u4eba\u3002\u5728\u8fd9\u9636\u6bb5\uff0c\u5229\u6da6\u5b9e\u73b0\u673a\u5236\u662f\u8bc4\u4f30\u9700\u6c42\u8017\u5c3d\u98ce\u9669\u7684\u5173\u952e\u56e0\u7d20\u3002<\/p>\n

\u900f\u8fc7\u8ba1\u7b97\u6bcf\u65e5\u83b7\u5229\u5b9e\u73b0\u503c\u7684 7 \u65e5\u7b80\u5355\u79fb\u52a8\u5e73\u5747\u7ebf\uff08\u7ecf\u8fc7\u8c03\u6574\u4ee5\u6392\u9664\u5b9e\u4f53\u5185\u90e8\u6d41\u52a8\uff09\uff0c\u4e0a\u5468\u6bcf\u65e5\u5b9e\u73b0\u76c8\u5229\u8fbe\u5230 14.7 \u4ebf\u7f8e\u5143\u7684\u5cf0\u503c\u3002\u8fd9\u662f\u4e00\u4e2a\u663e\u8457\u7684\u6c34\u5e73\uff0c\u7a81\u663e\u4e86\u8fd1\u671f\u8d44\u672c\u8f6e\u52a8\u7684\u5f3a\u5ea6\u3002<\/p>\n

\u66f4\u91cd\u8981\u7684\u662f\uff0c\u8fd9\u6807\u5fd7\u8457\u6b64\u8f6e\u5468\u671f\u4e2d\u7b2c\u4e94\u6b21\u65e5\u83b7\u5229\u4e86\u7ed3\u89c4\u6a21\u8d85\u8fc7 10 \u4ebf\u7f8e\u5143\u3002\u6b64\u7c7b\u4e8b\u4ef6\u5f80\u5f80\u4e0e\u5c40\u90e8\u5e02\u573a\u9876\u90e8\u6216\u653e\u7f13\u76f8\u543b\u5408\uff0c\u5c24\u5176\u662f\u5f53\u65b0\u589e\u9700\u6c42\u65e0\u6cd5\u5438\u6536\u5982\u6b64\u89c4\u6a21\u7684\u5df2\u5b9e\u73b0\u6536\u76ca\u65f6\u3002\u8fd9\u51f8\u663e\u4e86\u5e02\u573a\u5728\u9762\u4e34\u5de8\u5927\u629b\u552e\u538b\u529b\u65f6\u7684\u97e7\u6027\u3002<\/p>\n

\"\" \u6765\u6e90\uff1aGlassnode<\/p>\n

\u4e3a\u4e86\u66f4\u597d\u5730\u7406\u89e3\u5f53\u524d\u8fd9\u6ce2\u83b7\u5229\u4e86\u7ed3\u6d6a\u6f6e\u7684\u610f\u4e49\uff0c\u6709\u5fc5\u8981\u4ece\u5468\u671f\u6027\u89d2\u5ea6\u6765\u68c0\u89c6\u3002\u5e76\u975e\u6240\u6709\u83b7\u5229\u4e86\u7ed3\u4e8b\u4ef6\u90fd\u76f8\u540c\uff0c\u8fd9\u4e9b\u673a\u5236\u7684\u52a8\u6001\u7279\u6027\u53ef\u4ee5\u63ed\u793a\u5e02\u573a\u6210\u719f\u5ea6\u548c\u6ce2\u52a8\u6027\u5982\u4f55\u968f\u8457\u65f6\u95f4\u7684\u63a8\u79fb\u5851\u9020\u6295\u8d44\u8005\u884c\u4e3a\u3002<\/p>\n

\u4e00\u4e2a\u6709\u6548\u7684\u65b9\u6cd5\u662f\u68c0\u89c6\u7ecf\u5e02\u503c\u8c03\u6574\u540e\u7684\u5df2\u5b9e\u73b0\u51c0\u5229\u7684 90 \u5929\u7b80\u5355\u79fb\u52a8\u5e73\u5747\u7ebf\uff08SMA\uff09\u3002\u8fd9\u79cd\u8c03\u6574\u80fd\u5728\u4e0d\u540c\u5468\u671f\u95f4\u8fdb\u884c\u6bd4\u8f83\u3002\u4e00\u4e2a\u660e\u663e\u7684\u8d8b\u52bf\u662f\uff1a\u968f\u8457\u65f6\u95f4\u7684\u63a8\u79fb\uff0c\u83b7\u5229\u4e86\u7ed3\u7684\u70ed\u60c5\u51cf\u5f31\uff0c\u8fd9\u53cd\u6620\u51fa\u968f\u8457\u5e02\u573a\u7684\u6210\u719f\uff0c\u5468\u671f\u6027\u4e0a\u884c\u8868\u73b0\u7684\u666e\u904d\u9000\u5316\u4ee5\u53ca\u6ce2\u52a8\u7387\u7684\u964d\u4f4e\u3002<\/p>\n

\u4ece 2015 \u5e74 11 \u6708\u81f3 2018 \u5e74 4 \u6708\uff0c\u51c0\u83b7\u5229\u4e86\u7ed3\u9636\u6bb5\u6301\u7eed\u4e86\u7ea6 25 \u4e2a\u6708\uff0c\u9ad8\u5cf0\u8d85\u8fc7\u5e02\u503c\u7684 0.4% \u3002
\n\u5728 2020 \u81f3 2022 \u5e74\u7684\u5468\u671f\u4e2d\uff0c\u6b64\u533a\u57df\u6301\u7eed\u4e86\u7ea6 20 \u4e2a\u6708\uff0c\u4f46\u9ad8\u5cf0\u4ec5\u5728 0.15% \u5de6\u53f3\u3002
\n\u5728\u5f53\u524d\u5468\u671f\uff0c\u59cb\u4e8e 2023 \u5e74 11 \u6708\uff0c\u51c0\u83b7\u5229\u4e86\u7ed3\u9636\u6bb5\u5df2\u6301\u7eed 18 \u4e2a\u6708\uff0c\u5f62\u6210\u4e86\u4e24\u4e2a\u63a5\u8fd1 0.1% \u7684\u660e\u663e\u9ad8\u5cf0\u3002<\/p>\n

\u8fd9\u4e00\u8d8b\u52bf\u8868\u660e\uff0c\u5c3d\u7ba1\u83b7\u5229\u4e86\u7ed3\u4ecd\u65bd\u52a0\u8457\u663e\u8457\u538b\u529b\uff0c\u4f46\u5df2\u8d8b\u4e8e\u7f13\u548c\uff0c\u8fd9\u53ef\u80fd\u9884\u793a\u8457\u4ece\u7e41\u8363\u4e0e\u8427\u6761\u7684\u72c2\u70ed\u8f6c\u5411\u66f4\u6210\u719f\u8d44\u4ea7\u7c7b\u522b\u4e2d\u7684\u7ed3\u6784\u6027\u8d44\u672c\u8f6e\u52a8\u3002<\/p>\n

\"\"\u6765\u6e90\uff1aGlassnode<\/p>\n

 <\/p>\n

\u8c01\u5728\u83b7\u5229\uff1f<\/p>\n

\u8bc4\u4f30\u83b7\u5229\u4e86\u7ed3\u5468\u671f\u7684\u53e6\u4e00\u4e2a\u89c6\u89d2\u662f\u786e\u5b9a\u54ea\u4e9b\u6295\u8d44\u8005\u7fa4\u4f53\u5728\u629b\u552e\u3002<\/p>\n

\u81ea 2015 \u81f3 2018 \u5e74\u7684\u5468\u671f\u4ee5\u6765\uff0c\u5728\u5e02\u573a\u72c2\u70ed\u7684\u9876\u90e8\uff0c\u957f\u671f\u6301\u6709\u8005\uff08LTHs\uff09\u5b9e\u73b0\u7684\u5229\u6da6\u4efd\u989d\u7a33\u6b65\u4e0a\u5347\u3002\u8fd9\u4e00\u8d8b\u52bf\u51f8\u663e\u4e86\u5e02\u573a\u6210\u719f\u5ea6\u7684\u7ed3\u6784\u6027\u8f6c\u53d8\uff0c\u5373\u7ecf\u9a8c\u8f83\u4e30\u5bcc\u7684\u6295\u8d44\u8005\u4e3b\u5bfc\u8457\u8d44\u672c\u8f6e\u52a8\uff0c\u800c\u975e\u5feb\u8fdb\u5feb\u51fa\u7684\u6295\u673a\u8005\u3002<\/p>\n

\u5728\u6700\u8fd1\u7684\u9ad8\u5cf0\u671f\u95f4\uff0c\u957f\u671f\u6301\u6709\u8005\uff08LTHs\uff09\u7684 30 \u5929\u79fb\u52a8\u5e73\u5747\u5df2\u5b9e\u73b0\u5229\u6da6\u98d9\u5347\u81f3\u6bcf\u5929\u7ea6 10 \u4ebf\u7f8e\u5143\uff0c\u800c\u77ed\u671f\u6301\u6709\u8005\uff08STHs\uff09\u6bcf\u5929\u4ec5\u5b9e\u73b0 3.2 \u4ebf\u7f8e\u5143\uff0c\u4e24\u8005\u4e4b\u95f4\u7684\u5dee\u8ddd\u8d85\u8fc7 3 \u500d\uff0c\u8fdb\u4e00\u6b65\u8bc1\u5b9e\u4e86\u8fd9\u4e00\u8f6e\u83b7\u5229\u4e86\u7ed3\u662f\u7531\u6301\u6709\u65f6\u95f4\u66f4\u957f\u3001\u4fe1\u5ff5\u66f4\u575a\u5b9a\u7684\u6295\u8d44\u8005\u4e3b\u5bfc\u7684\u3002<\/p>\n

\"\"\u6765\u6e90\uff1aGlassnode<\/p>\n

 <\/p>\n

\u4e4d\u4e00\u770b\uff0c\u76ee\u524d\u957f\u671f\u6301\u6709\u8005\uff08\u6301\u6709\u65f6\u95f4\u8d85 6 \u4e2a\u6708\uff09\u6bcf\u5929\u7ea6 10 \u4ebf\u7f8e\u5143\u7684\u5df2\u5b9e\u73b0\u5229\u6da6\u4f3c\u4e4e\u4e0e 2024 \u5e74 12 \u6708\u9ad8\u5cf0\u671f\u95f4\u7684 18 \u4ebf\u7f8e\u5143\u76f8\u6bd4\u76f8\u5f62\u89c1\u7ecc\u3002\u7136\u800c\uff0c\u66f4\u6df1\u5165\u7684\u5206\u6790\u63ed\u793a\u4e86\u4e00\u4e2a\u719f\u6089\u7684\u6a21\u5f0f\u3002<\/p>\n

\u5728\u5386\u6b21\u591a\u5934\u5e02\u573a\u4e2d\uff0c\u968f\u8457\u5468\u671f\u7684\u63a8\u8fdb\uff0c\u6301\u6709 6 \u81f3 12 \u4e2a\u6708\u7684\u6295\u8d44\u8005\u7fa4\u4f53\u5bf9\u83b7\u5229\u4e86\u7ed3\u7684\u8d21\u732e\u5f80\u5f80\u8f83\u5c0f\u3002\u5728\u5f53\u524d\u7684\u5468\u671f\u4e2d\uff0c\u8fd9\u4e00\u52a8\u6001\u518d\u6b21\u663e\u73b0\u3002\u968f\u8457\u6da8\u52bf\u7684\u6301\u7eed\uff0c\u8d8a\u6765\u8d8a\u591a\u7684\u957f\u671f\u6301\u6709\u8005\u4e2d\u7684\u8d44\u6df1\u6295\u8d44\u8005\u5f00\u59cb\u6210\u4e3a\u4e3b\u8981\u7684\u5356\u5bb6\uff0c\u8fd9\u4f3c\u4e4e\u6b63\u5728\u5851\u9020\u8fd9\u4e00\u8f6e\u5468\u671f\u7684\u9876\u90e8\u5f62\u6210\u9636\u6bb5\u3002<\/p>\n

\"\"\u6765\u6e90\uff1aGlassnode<\/p>\n

 <\/p>\n

\u56e0\u6b64\uff0c\u900f\u8fc7\u5c06 6 \u81f3 12 \u4e2a\u6708\u7684\u6301\u5e01\u7fa4\u4f53\u4ece\u957f\u671f\u6301\u6709\u8005\u7684\u603b\u5b9e\u73b0\u5229\u6da6\u4e2d\u6392\u9664\uff0c\u80fd\u66f4\u51c6\u786e\u5730\u8bc4\u4f30\u8d44\u6df1\u6295\u8d44\u8005\u5bf9\u5f53\u524d\u5e02\u573a\u52a8\u6001\u7684\u771f\u6b63\u5f71\u54cd\u3002\u8fd9\u9879\u8c03\u6574\u6d88\u9664\u4e86 2025 \u5e74\u7b2c\u4e00\u5b63\u9ad8\u70b9\u4e70\u8fdb\u8005\u7684\u5f71\u54cd\uff0c\u4ed6\u4eec\u672a\u5b9e\u73b0\u7684\u6536\u76ca\u76f8\u5bf9\u6709\u9650\uff0c\u5e76\u5c06\u91cd\u70b9\u653e\u5728\u6301\u6709\u8d85\u8fc7\u4e00\u5e74\u4e14\u5229\u6da6\u7387\u66f4\u9ad8\u7684\u6295\u8d44\u8005\u8eab\u4e0a\u3002<\/p>\n

\u5f53\u6301\u6709\u671f\u8d85 1 \u5e74\u7684\u6295\u8d44\u8005\u5b9e\u73b0\u7684\u5229\u6da6\u5355\u72ec\u9694\u79bb\u65f6\uff0c\u5f53\u524d\u8fd9\u6ce2\u884c\u60c5\u7684\u91cd\u8981\u6027\u5c31\u66f4\u52a0\u660e\u663e\u4e86\u3002\u8fd9\u7fa4\u4eba\u901a\u5e38\u4e0e\u575a\u5b9a\u578b\u6295\u8d44\u8005\u76f8\u5173\u8054\uff0c\u5982\u4eca\u4ed6\u4eec\u6b63\u5728\u5927\u89c4\u6a21\u83b7\u5229\u4e86\u7ed3\uff0c\u8fd9\u79cd\u884c\u4e3a\u901a\u5e38\u8868\u660e\u725b\u5e02\u8d8b\u52bf\u5df2\u8d8b\u4e8e\u6210\u719f\u6216\u5373\u5c06\u7ed3\u675f\u3002<\/p>\n

\u8fd9\u9879\u89c2\u5bdf\u7ed3\u679c\u4e0e\u70ed\u529b\u56fe\u7684\u65e9\u671f\u53d1\u73b0\u76f8\u543b\u5408\uff0c\u8be5\u70ed\u529b\u56fe\u4e5f\u663e\u793a\u8fd1\u671f\u7684\u629b\u538b\u4e3b\u8981\u6765\u81ea\u8d44\u6df1\u6295\u8d44\u8005\uff0c\u8fd9\u8fdb\u4e00\u6b65\u8bc1\u5b9e\u4e86\u957f\u671f\u6301\u6709\u8005\u5728\u8fd9\u4e00\u9876\u90e8\u5f62\u6210\u9636\u6bb5\u6108\u53d1\u6d3b\u8dc3\u7684\u8bf4\u6cd5\u3002<\/p>\n

\"\"\u6765\u6e90\uff1aGlassnode<\/p>\n

 <\/p>\n

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