{"id":13,"date":"2026-01-05T01:35:55","date_gmt":"2026-01-04T17:35:55","guid":{"rendered":"http:\/\/okx.biquan123.com\/blog\/?p=13"},"modified":"2026-01-05T07:24:46","modified_gmt":"2026-01-04T23:24:46","slug":"%e6%9c%ba%e6%9e%84%e4%bc%98%e5%85%88-3","status":"publish","type":"post","link":"http:\/\/okx.biquan123.com\/blog\/?p=13","title":{"rendered":"\u673a\u6784\u4f18\u5148 | #3"},"content":{"rendered":"<p><i><span dir=\"auto\">\u6211\u4eec\u6bcf\u4e24\u5468\u53d1\u5e03\u4e00\u6b21\u5bf9\u673a\u6784\u9886\u57df\u4ea4\u6613\u8005\u6765\u8bf4\u5f88\u91cd\u8981\u7684\u5e02\u573a\u6d1e\u5bdf\uff0c\u8ba9\u60a8\u968f\u65f6\u638c\u63e1\u884c\u4e1a\u6700\u65b0\u52a8\u6001\u3002<\/span><\/i><\/p>\n<p><i><span dir=\"auto\">\u672c\u5468\uff0cOKX \u673a\u6784\u7814\u7a76\u4e3b\u7ba1\u3001\u7279\u8bb8\u91d1\u878d\u5206\u6790\u5e08 Kelvin Lam \u5728\u672c\u671f\u6587\u7ae0\u4e2d\u63a2\u8ba8\u4e86\u4e00\u4e2a\u6700\u53d7\u5173\u6ce8\u7684\u95ee\u9898\uff1a\u7f8e\u56fd\u8d27\u5e01\u4f9b\u5e94\u7d27\u7f29\u5982\u4f55\u7ee7\u7eed\u963b\u788d\u6570\u5b57\u8d44\u4ea7\u9886\u57df\u7684\u6d41\u52a8\u6027\u3002<\/span><\/i><\/p>\n<p>&nbsp;<\/p>\n<h2 id=\"1\"><span dir=\"auto\">\u6700\u53d7\u5173\u6ce8\u7684\u95ee\u9898\uff1a\u52a0\u5bc6\u8d27\u5e01\u725b\u5e02\u4e3a\u4f55\u6682\u65f6\u6682\u505c<\/span><\/h2>\n<h3><b><span dir=\"auto\">TL;DR<\/span><\/b><\/h3>\n<ul>\n<li><span dir=\"auto\">\u6240\u6709\u4eba\u7684\u76ee\u5149\u90fd\u96c6\u4e2d\u5728\u7f8e\u8054\u50a8\u4e3b\u5e2d\u6770\u7f57\u59c6\u00b7\u9c8d\u5a01\u5c14\u5728\u6770\u514b\u900a\u970d\u5c14\u5e74\u5ea6\u7814\u8ba8\u4f1a\u4e0a\u7684\u8bb2\u8bdd\u4e0a\u3002\u4ed6\u5728\u8bb2\u8bdd\u4e2d\u8868\u793a\uff0c\u201c\u901a\u80c0\u4ecd\u7136\u8fc7\u9ad8\u201d\uff0c\u7f8e\u8054\u50a8\u201c\u51c6\u5907\u5728\u9002\u5f53\u7684\u60c5\u51b5\u4e0b\u8fdb\u4e00\u6b65\u52a0\u606f\u201d\u3002\u540e\u75ab\u60c5\u65f6\u4ee3\uff0c\u5168\u7403\u5404\u56fd\u592e\u884c\u91c7\u53d6\u7684\u91cf\u5316\u7d27\u7f29\u63aa\u65bd\u5bfc\u81f4\u8d27\u5e01\u4f9b\u5e94\u91cfM2\uff08\u4e0b\u56fe\u767d\u7ebf\uff09\u6536\u7f29\u3002\u7f8e\u56fd\u8d27\u5e01\u4f9b\u5e94\u91cf\u81ea1949\u5e74\u4ee5\u6765\u9996\u6b21\u51fa\u73b0\u840e\u7f29\uff08<\/span><i><span dir=\"auto\">\u6570\u636e\u6765\u6e90\uff1a\u7f8e\u8054\u50a8<\/span><\/i><span dir=\"auto\">\uff09\u3002\u8fd9\u79cd\u7d27\u7f29\u7684\u6d41\u52a8\u6027\u73af\u5883\u7ed9\u91d1\u878d\u5e02\u573a\u548c\u52a0\u5bc6\u8d27\u5e01\u4ef7\u683c\u5e26\u6765\u4e86\u6311\u6218\u3002\u5c3d\u7ba1\u5e02\u573a\u5173\u6ce8\u6bd4\u7279\u5e01\u73b0\u8d27ETF\u83b7\u6279\u548c\u6bd4\u7279\u5e01\u51cf\u534a\u7b49\u53ef\u80fd\u5f15\u53d1\u65b0\u4e00\u8f6e\u725b\u5e02\u7684\u50ac\u5316\u5242\uff0c\u4f46\u8ffd\u8e2a\u5168\u7403\u8d27\u5e01\u4f9b\u5e94\u91cf\uff08M2\uff09\u4f5c\u4e3a\u5173\u952e\u6307\u6807\u4e5f\u81f3\u5173\u91cd\u8981\u3002\u5386\u53f2\u6570\u636e\u663e\u793a\uff0c\u8fc7\u53bb\u5341\u5e74\uff0c\u6bd4\u7279\u5e01\u4ef7\u683c\uff08\u7070\u7ebf\uff09\u4e0e\u8d27\u5e01\u4f9b\u5e94\u91cf\uff08\u767d\u7ebf\uff09\u4e4b\u95f4\u7684\u76f8\u5173\u6027\u9ad8\u8fbe0.85\u4ee5\u4e0a\u3002\u5bc6\u5207\u5173\u6ce8\u5168\u7403\u6d41\u52a8\u6027\u52a8\u6001\u5df2\u53d8\u5f97\u81f3\u5173\u91cd\u8981\uff0c\u4f46\u5374\u5e38\u5e38\u88ab\u5ffd\u89c6\u3002<\/span><\/li>\n<\/ul>\n<div class=\"index_imageContainer__rfZ7y index_custom__nLneb\"><button class=\"academy academy-plain-button academy academy-image-viewer\" type=\"button\" aria-haspopup=\"dialog\" aria-label=\"\u5168\u7403\u8d27\u5e01\u4f9b\u5e94\u91cf (M2) \u4e0e BTC \u4ef7\u683c - 9 \u6708 5 \u65e5 1600x900\"><img loading=\"lazy\" decoding=\"async\" class=\"academy-picture-contain index_img__W8PbS\" src=\"https:\/\/www.okx.com\/cdn\/assets\/plugins\/contentful\/4nqoo8goeymu\/4gdmNM8RdH9wITaAlqh3kM\/f6b5020bad251c4d3de926bd0a3c001e\/Global_Money_Supply__M2__vs._BTC_Price_-_Sept_5_1600x900.png?x-oss-process=image\/resize,w_1600,h_900\/format,webp\" alt=\"\u5168\u7403\u8d27\u5e01\u4f9b\u5e94\u91cf (M2) \u4e0e BTC \u4ef7\u683c - 9 \u6708 5 \u65e5 1600x900\" width=\"1600\" height=\"900\" \/><\/button><\/div>\n<p><i><span dir=\"auto\">\u8d44\u6599\u6765\u6e90\uff1aTradingView<\/span><\/i><\/p>\n<ul>\n<li><span dir=\"auto\">\u6beb\u65e0\u7591\u95ee\uff0c\u8d27\u5e01\u4f9b\u5e94\u7d27\u7f29\u7684\u5f71\u54cd\u5df2\u5728\u6570\u5b57\u8d44\u4ea7\u9886\u57df\u663e\u73b0\uff0c\u5e76\u5728\u591a\u4e2a\u7ef4\u5ea6\u4e0a\u4ea7\u751f\u91cd\u5927\u5f71\u54cd\u3002\u4e0b\u56fe\u5217\u51fa\u4e86\u4e00\u4e9b\u8861\u91cf\u52a0\u5bc6\u8d27\u5e01\u5e02\u573a\u6d41\u52a8\u6027\u72b6\u51b5\u7684\u5173\u952e\u6307\u6807\u3002<\/span><\/li>\n<\/ul>\n<div class=\"index_imageContainer__rfZ7y index_custom__nLneb\"><button class=\"academy academy-plain-button academy academy-image-viewer\" type=\"button\" aria-haspopup=\"dialog\" aria-label=\"\u52a0\u5bc6\u8d27\u5e01\u5e02\u573a\u6d41\u52a8\u6027\u6307\u6807 - 9 \u6708 5 \u65e5 1600x900\"><img loading=\"lazy\" decoding=\"async\" class=\"academy-picture-contain index_img__W8PbS\" src=\"https:\/\/www.okx.com\/cdn\/assets\/plugins\/contentful\/4nqoo8goeymu\/B5HhmE8K6yFSoSAcwRqr2\/7f816b19776681022db3ec733607ce27\/Cryptocurrency__Market_Liquidity_Indicators-_Sept_5_1600x900.png?x-oss-process=image\/resize,w_1600,h_900\/format,webp\" alt=\"\u52a0\u5bc6\u8d27\u5e01\u5e02\u573a\u6d41\u52a8\u6027\u6307\u6807 - 9 \u6708 5 \u65e5 1600x900\" width=\"1600\" height=\"900\" \/><\/button><\/div>\n<p><i><span dir=\"auto\">\u6765\u6e90\uff1aCryptoQuant\u3001DefiLlama<\/span><\/i><\/p>\n<ul>\n<li><span dir=\"auto\">\u7f8e\u56fd\u8054\u90a6\u50a8\u5907\u59d4\u5458\u4f1a\u81ea 2022 \u5e74 6 \u6708\u4ee5\u6765\u4e00\u76f4\u5728\u79ef\u6781\u5b9e\u65bd\u91cf\u5316\u7d27\u7f29\u653f\u7b56 (QT)\uff0c\u5bfc\u81f4\u5176\u8d44\u4ea7\u51cf\u5c11\u4e86 7570 \u4ebf\u7f8e\u5143\uff08<\/span><i><span dir=\"auto\">\u6765\u6e90\uff1a\u5723\u8def\u6613\u65af\u8054\u90a6\u50a8\u5907\u94f6\u884c<\/span><\/i><span dir=\"auto\">\uff09\u3002\u5982\u679c QT \u7ee7\u7eed\u4ee5\u8fd9\u79cd\u52a0\u901f\u901f\u5ea6\u8fd0\u884c\uff0c\u7f8e\u8054\u50a8\u5c06\u5f88\u5feb\u9700\u8981\u653e\u6162\u6216\u505c\u6b62\u91cf\u5316\u7d27\u7f29\u653f\u7b56\uff0c\u4ee5\u907f\u514d\u4ece\u94f6\u884c\u7cfb\u7edf\u62bd\u53d6\u8fc7\u591a\u7684\u51c6\u5907\u91d1\uff0c\u8fd9\u662f\u7531\u4e8e QT \u8ba1\u5212\u7684\u8bbe\u8ba1\u539f\u7406\u3002\u5728 9 \u6708\u5373\u5c06\u53ec\u5f00\u7684\u7f8e\u8054\u50a8\u4f1a\u8bae\u4e0a\uff0c\u53ef\u80fd\u4f1a\u5ba3\u5e03 QT \u7684\u6700\u65b0\u6b65\u4f10\u3002\u6b64\u5916\uff0c\u4e2d\u56fd\u6700\u8fd1\u5ba3\u5e03\u4e86\u4e00\u7cfb\u5217\u653f\u7b56\u5bbd\u677e\u63aa\u65bd\u4ee5\u652f\u6301\u5176\u7ecf\u6d4e\u590d\u82cf\uff0c\u800c\u6b27\u5143\u533a\u7684\u7ecf\u6d4e\u6570\u636e\u6b63\u5728\u7ed9\u6b27\u6d32\u592e\u884c (ECB) \u65bd\u52a0\u538b\u529b\uff0c\u8981\u6c42\u5176\u6291\u5236\u501f\u8d37\u6210\u672c\u7684\u8fdb\u4e00\u6b65\u4e0a\u5347\u3002\u8fd9\u4e9b\u56e0\u7d20\u4f7f\u5f97\u5168\u7403\u8d27\u5e01\u4f9b\u5e94\u91cf\u5728\u5e74\u5e95\u524d\u53cd\u5f39\u7684\u53ef\u80fd\u6027\u8d8a\u6765\u8d8a\u5927\u3002\u4e0e\u6b64\u540c\u65f6\uff0c\u53ef\u4ee5\u901a\u8fc7\u4e0a\u8ff0\u6d41\u52a8\u6027\u6307\u6807\u5bc6\u5207\u8ddf\u8e2a\u5bf9\u52a0\u5bc6\u8d27\u5e01\u5e02\u573a\u7684\u5f71\u54cd\u3002<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>\u6211\u4eec\u6bcf\u4e24\u5468\u53d1\u5e03\u4e00\u6b21\u5bf9\u673a\u6784\u9886\u57df\u4ea4\u6613\u8005\u6765\u8bf4\u5f88\u91cd\u8981\u7684\u5e02\u573a\u6d1e\u5bdf\uff0c\u8ba9\u60a8\u968f\u65f6\u638c\u63e1\u884c\u4e1a\u6700\u65b0\u52a8\u6001\u3002 \u672c\u5468\uff0cOKX \u673a\u6784\u7814\u7a76\u4e3b\u7ba1&hellip; <a class=\"more-link\" href=\"http:\/\/okx.biquan123.com\/blog\/?p=13\">\u7ee7\u7eed\u9605\u8bfb<span class=\"screen-reader-text\">\u673a\u6784\u4f18\u5148 | #3<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-13","post","type-post","status-publish","format-standard","hentry","category-uncategorized","entry"],"_links":{"self":[{"href":"http:\/\/okx.biquan123.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/13","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/okx.biquan123.com\/blog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/okx.biquan123.com\/blog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/okx.biquan123.com\/blog\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/okx.biquan123.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13"}],"version-history":[{"count":2,"href":"http:\/\/okx.biquan123.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/13\/revisions"}],"predecessor-version":[{"id":3096,"href":"http:\/\/okx.biquan123.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/13\/revisions\/3096"}],"wp:attachment":[{"href":"http:\/\/okx.biquan123.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/okx.biquan123.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/okx.biquan123.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}