В Glassnode заявили о снижении аппетита инвесторов к биткоину

cryptonews.ruPublished on 2025-02-18Last updated on 2025-04-18

Реализованная капитализация биткоина достигла исторического максимума в $872 млрд, однако данные показывают снижение аппетита к биткоину на текущем уровне цены. Об этом сообщает Glassnode.

#Bitcoin’s realized cap has reached an all-time high of $872B, yet monthly growth has slowed to +0.9%. This indicates that while capital inflows remain positive, investor appetite is softening — signaling continued risk-off sentiment. pic.twitter.com/XBgZP7NoWo
— glassnode (@glassnode) April 17, 2025

Специалисты аналитической платформы отметили, что месячный рост показателя замедлился до 0,9%, несмотря на его рекордные значения. Это свидетельствует о нежелании рынка рисковать.

Реализованная капитализация учитывает общую стоимость актива по цене при последнем перемещении. Метрика отражает фактически инвестированный капитал. Его приток остается положительным, но замедление роста предполагает сокращение количества новых инвесторов и активности текущих держателей биткоина.

Эксперты также отметили, что график реализованных прибылей и убытков, скорректированных с учетом волатильности, в последние недели демонстрирует почти равный баланс.

Данные: Glassnode.

«Это говорит о насыщении активности инвесторов и часто предшествует фазе консолидации, поскольку рынок ищет новое равновесие», — констатировали в Glassnode.

Между тем скорректированная на волатильность чистая реализованная прибыль/убыток в биткоине вернулась к долгосрочной медиане, отметили аналитики.

Данные: Glassnode.

«Это исторически обозначает границу между бычьим и медвежьим режимами, помещая рынок в критическую точку для определения направления движения», — подчеркнули они.

Аналитики также указали на замедление роста предложения стейблкоинов в последние недели. Это еще один признак сокращения ликвидности в цифровых активах и формирования более рисковой среды, считают они.

#Stablecoin supply growth remains positive but has softened in recent weeks. As stablecoins serve as core quote assets across crypto markets, this slowdown adds further evidence of a broad contraction in digital asset liquidity and a more risk-off environment. pic.twitter.com/2ccBnwsSzp
— glassnode (@glassnode) April 17, 2025

Немного позитива

Автор CryptoQuant под ником Avocado обратил внимание на расхождение движений метрик Coinbase Premium и Korea Premium Index.

Coinbase Premium Recovers, Korea Lags

“This divergence highlights that current market direction is largely driven by U.S.-based activity on platforms like Coinbase, while interest from Korean investors appears muted.” – By @avocado_onchain

Read more ⤵️https://t.co/G6AjBaNbGH pic.twitter.com/aLLv3bvahx
— CryptoQuant.com (@cryptoquant_com) April 17, 2025

Показатель, традиционно сигнализирующий об активности американских инвесторов, демонстрирует все более низкие максимумы и высокие минимумы. Это предполагает потенциал для возобновления восходящего импульса в биткоине — метрика исторически служила опережающим индикатором.

«Премия кимчи», напротив, традиционно реагирует на ценовые движения первой криптовалюты реактивно, отметил Avocado. В течение всего периода коррекции 2024 года она демонстрировала устойчивую нисходящую тенденцию и перешла к росту только вслед за цифровым золотом.

«Хотя общие рыночные условия остаются нестабильными, восходящая тенденция минимумов Coinbase Premium указывает на здоровый спрос. Это предвещает потенциально сильное средне и долгосрочное восстановление ценовой траектории биткоина», — заключил аналитик.

По оценке другого автора CryptoQuant с псевдонимом Crazzyblock, текущее давление продаж наблюдается со стороны розничных инвесторов, тогда как киты и опытные игроки продолжают накапливать первую криптовалюту.

Who’s Really Selling Bitcoin? Let’s Break It Down

“The real sell pressure is not from whales or old hands, but from retail, mid-sized cohorts (shrimps to sharks) and short-term holders — a classic shakeout.” – By @Crazzyblockk

Full post ⤵️https://t.co/7byGSp2gSH pic.twitter.com/Qycs9yyaaZ
— CryptoQuant.com (@cryptoquant_com) April 16, 2025

Эксперт полагает, что происходит «классическая встряска» — вытеснение спекулянтов и мелких участников с рынка.

Напомним, специалисты Bitwise назвали четыре потенциальных драйвера для роста биткоина во втором квартале.

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