{"id":1747,"date":"2025-12-17T23:54:22","date_gmt":"2025-12-17T20:54:22","guid":{"rendered":"https:\/\/iqx.io\/blog\/?p=1747"},"modified":"2025-12-17T23:55:04","modified_gmt":"2025-12-17T20:55:04","slug":"news-did-bitcoin-4-year-cycle-break-is-bull-market-really-over","status":"publish","type":"post","link":"https:\/\/iqx.io\/blog\/news-did-bitcoin-4-year-cycle-break-is-bull-market-really-over\/","title":{"rendered":"\u062f\u0648\u0631\u0629 \u0628\u064a\u062a\u0643\u0648\u064a\u0646 \u062a\u062a\u063a\u064a\u0631: \u0635\u0646\u0627\u062f\u064a\u0642 ETF \u0648\u062e\u0632\u0627\u0626\u0646 \u0627\u0644\u0634\u0631\u0643\u0627\u062a \u062a\u0642\u0644\u0628 \u0627\u0644\u0645\u0639\u0627\u062f\u0644\u0629"},"content":{"rendered":"

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\u0648\u0647\u0630\u0647 \u0627\u0644\u0645\u0631\u0629\u060c \u0644\u0645 \u062a\u062e\u062a\u0644\u0641 \u0627\u0644\u0635\u0648\u0631\u0629 \u0643\u062b\u064a\u0631\u064b\u0627. \u0633\u062c\u0651\u0644\u062a \u0628\u064a\u062a\u0643\u0648\u064a\u0646 \u0642\u0645\u0629 \u0642\u0631\u0628 126,200 \u062f\u0648\u0644\u0627\u0631 \u0641\u064a \u0623\u0643\u062a\u0648\u0628\u0631\u060c \u0623\u064a \u0628\u0639\u062f \u0646\u062d\u0648 18 \u0634\u0647\u0631\u064b\u0627 \u0645\u0646 \u0647\u0627\u0644\u0641\u064a\u0646\u063a \u0623\u0628\u0631\u064a\u0644 2024\u060c \u062b\u0645 \u062a\u0631\u0627\u062c\u0639\u062a \u0628\u0623\u0643\u062b\u0631 \u0645\u0646 30%.<\/p>\n

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\u0645\u062a\u062f\u0627\u0648\u0644\u0648 \u0628\u064a\u062a\u0643\u0648\u064a\u0646 \u064a\u0628\u064a\u0639\u0648\u0646 \u0628\u062e\u0633\u0627\u0626\u0631<\/h2>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n

\u00a0\u0644\u0641\u062a \u062c\u0648\u0627\u0648 \u0648\u064a\u062f\u0633\u0648\u0646\u060c \u0645\u0624\u0633\u0633 \u0634\u0631\u0643\u0629 \u062a\u062d\u0644\u064a\u0644\u0627\u062a \u0627\u0644\u0628\u0644\u0648\u0643\u062a\u0634\u064a\u0646 \u00abAlphractal\u00bb\u060c \u0627\u0644\u0627\u0646\u062a\u0628\u0627\u0647 \u0625\u0644\u0649 \u0625\u0634\u0627\u0631\u0629 \u0641\u064a \u0645\u0624\u0634\u0631 \u00ab\u0646\u0633\u0628\u0629 \u0627\u0644\u0631\u0628\u062d \u0644\u0644\u0645\u062e\u0631\u062c\u0627\u062a \u0627\u0644\u0645\u0646\u0641\u0642\u0629\u00bb (SOPR)\u060c \u0648\u0647\u0648 \u0645\u0642\u064a\u0627\u0633 \u064a\u0648\u0636\u062d \u0645\u0627 \u0625\u0630\u0627 \u0643\u0627\u0646\u062a \u0627\u0644\u0628\u064a\u062a\u0643\u0648\u064a\u0646 \u062a\u064f\u0628\u0627\u0639 \u0628\u0631\u0628\u062d \u0623\u0648 \u0628\u062e\u0633\u0627\u0631\u0629 \u0645\u0642\u0627\u0631\u0646\u0629\u064b \u0628\u0633\u0639\u0631 \u0634\u0631\u0627\u0626\u0647\u0627. <\/span>\u0648\u0628\u062d\u0633\u0628 \u0648\u064a\u062f\u0633\u0648\u0646\u060c \u0642\u062f \u062a\u0639\u0643\u0633 \u0647\u0630\u0647 \u0627\u0644\u0625\u0634\u0627\u0631\u0629 \u0627\u0642\u062a\u0631\u0627\u0628 \u0646\u0647\u0627\u064a\u0629 \u0627\u0644\u0645\u0648\u062c\u0629 \u0627\u0644\u0635\u0627\u0639\u062f\u0629 \u0644\u0644\u0628\u064a\u062a\u0643\u0648\u064a\u0646.<\/span><\/p>\n

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\u0625\u0634\u0627\u0631\u0629 \u0627\u062a\u062c\u0627\u0647 \u0646\u0633\u0628\u0629 \u0627\u0644\u0631\u0628\u062d \u0627\u0644\u062e\u0627\u0631\u062c (SOPR) \u0644\u0644\u0628\u064a\u062a\u0643\u0648\u064a\u0646. \u0627\u0644\u0645\u0635\u062f\u0631: Alphractal<\/em><\/figcaption><\/figure>\n
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\u062a\u0627\u0631\u064a\u062e\u064a\u064b\u0627\u060c \u062d\u062f\u0651\u062f \u0645\u0624\u0634\u0631 \u00ab\u0646\u0633\u0628\u0629 \u0627\u0644\u0631\u0628\u062d \u0644\u0644\u0645\u062e\u0631\u062c\u0627\u062a \u0627\u0644\u0645\u0646\u0641\u0642\u0629\u00bb (SOPR) \u0646\u0642\u0627\u0637 \u0627\u0644\u062a\u062d\u0648\u0644 \u0641\u064a \u0627\u0644\u0633\u0648\u0642. \u064a\u0641\u0639\u0644 \u0630\u0644\u0643 \u0639\u0628\u0631 \u0631\u0635\u062f \u0627\u0646\u062a\u0642\u0627\u0644 \u0627\u0644\u0633\u0644\u0648\u0643 \u0628\u064a\u0646 \u062c\u0646\u064a \u0627\u0644\u0623\u0631\u0628\u0627\u062d \u0648\u0627\u0644\u0628\u064a\u0639 \u062a\u062d\u062a \u0636\u063a\u0637 \u0627\u0644\u062e\u0633\u0627\u0631\u0629.<\/p>\n

\u0641\u064a \u0627\u0644\u0623\u0633\u0648\u0627\u0642 \u0627\u0644\u0635\u0627\u0639\u062f\u0629\u060c \u064a\u0628\u0642\u0649 SOPR \u0641\u0648\u0642 \u0645\u0633\u062a\u0648\u0649 1. \u0639\u0646\u062f\u0647\u0627 \u062a\u064f\u0628\u0627\u0639 \u0627\u0644\u0639\u0645\u0644\u0627\u062a \u0628\u0631\u0628\u062d\u060c \u0648\u063a\u0627\u0644\u0628\u064b\u0627 \u0645\u0627 \u064a\u0633\u0628\u0642 \u0630\u0644\u0643 \u0627\u0644\u0642\u0645\u0645 \u0627\u0644\u0645\u062d\u0644\u064a\u0629. \u0623\u0645\u0651\u0627 \u0642\u0631\u0628 \u0627\u0644\u0642\u0627\u0639\u060c \u0641\u064a\u0647\u0628\u0637 \u0627\u0644\u0645\u0624\u0634\u0631 \u0646\u062d\u0648 1 \u0623\u0648 \u062f\u0648\u0646\u0647. \u0647\u0630\u0627 \u064a\u0639\u0646\u064a \u0623\u0646 \u0627\u0644\u0628\u064a\u0639 \u064a\u062a\u0645 \u0628\u062e\u0633\u0627\u0631\u0629.<\/p>\n

\u0644\u0627\u062d\u0642\u064b\u0627\u060c \u064a\u0634\u064a\u0631 \u0627\u0644\u062a\u0639\u0627\u0641\u064a \u0627\u0644\u0645\u0633\u062a\u062f\u0627\u0645 \u0641\u0648\u0642 1 \u0625\u0644\u0649 \u062a\u0631\u0627\u062c\u0639 \u0636\u063a\u0637 \u0627\u0644\u0628\u064a\u0639 \u0648\u0639\u0648\u062f\u0629 \u0627\u0644\u0632\u062e\u0645\u060c \u0643\u0645\u0627 \u062d\u062f\u062b \u0641\u064a \u0645\u0648\u062c\u0627\u062a \u0627\u0646\u062a\u0639\u0627\u0634 \u0633\u0627\u0628\u0642\u0629.<\/p>\n

\u0648\u0645\u0646\u0630 \u062f\u064a\u0633\u0645\u0628\u0631\u060c \u0627\u062a\u062c\u0647 SOPR \u0625\u0644\u0649 \u0627\u0644\u0627\u0646\u062e\u0641\u0627\u0636. \u0648\u0647\u0630\u0627 \u064a\u0648\u062d\u064a \u0628\u0623\u0646 \u0628\u064a\u062a\u0643\u0648\u064a\u0646 (BTC) \u062a\u064f\u0646\u0641\u0642 \u0628\u0623\u0631\u0628\u0627\u062d \u0623\u0642\u0644 \u0623\u0648 \u062d\u062a\u0649 \u0628\u062e\u0633\u0627\u0631\u0629\u060c \u0645\u0627 \u064a\u0639\u0632\u0632 \u0627\u0644\u0631\u0648\u0627\u064a\u0629 \u0627\u0644\u0647\u0628\u0648\u0637\u064a\u0629 \u0627\u0644\u0645\u0631\u062a\u0628\u0637\u0629 \u0628\u062f\u0648\u0631\u0629 \u0627\u0644\u0623\u0631\u0628\u0639 \u0633\u0646\u0648\u0627\u062a.<\/p>\n

\u0648\u0642\u0627\u0644 \u0648\u064a\u062f\u0633\u0648\u0646: \u00ab\u0642\u062f \u062a\u0639\u062a\u0642\u062f \u0623\u0646 \u062f\u0648\u0631\u0627\u062a \u0628\u064a\u062a\u0643\u0648\u064a\u0646 \u0642\u062f \u062a\u063a\u064a\u0651\u0631\u062a \u0648\u0623\u0646 \u0647\u0630\u0647 \u0627\u0644\u0645\u0631\u0629 \u0645\u062e\u062a\u0644\u0641\u0629\u00bb. \u0648\u0623\u0636\u0627\u0641: \u00ab\u0644\u0643\u0646 \u062a\u062d\u0644\u064a\u0644 \u0627\u0644\u0628\u0644\u0648\u0643\u062a\u0634\u064a\u0646 \u064a\u0643\u0634\u0641 \u0623\u0646 BTC \u062a\u0648\u0627\u0635\u0644 \u0627\u062a\u0628\u0627\u0639 \u062f\u0648\u0631\u062a\u0647\u0627 \u0627\u0644\u0643\u0633\u0631\u064a\u0629\u060c \u062a\u0645\u0627\u0645\u064b\u0627 \u0643\u0645\u0627 \u0641\u0639\u0644\u062a \u0645\u0646 \u0642\u0628\u0644. \u0644\u0645 \u064a\u062a\u063a\u064a\u0631 \u0634\u064a\u0621 \u062d\u062a\u0649 \u0627\u0644\u0622\u0646\u00bb.<\/p>\n

\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n

Grayscale: \u0628\u064a\u062a\u0643\u0648\u064a\u0646 \u0642\u062f \u062a\u0633\u062c\u0644 \u0642\u0645\u0629 \u062c\u062f\u064a\u062f\u0629 \u0628\u062d\u0644\u0648\u0644 \u064a\u0648\u0646\u064a\u0648 2026<\/strong><\/h2>\n

\u0644\u0627\u062d\u0638 \u0627\u0644\u0639\u062f\u064a\u062f \u0645\u0646 \u0645\u0631\u0627\u0642\u0628\u064a \u0627\u0644\u0633\u0648\u0642 \u0623\u0646 \u062f\u0648\u0631\u0629 \u0627\u0644\u0628\u064a\u062a\u0643\u0648\u064a\u0646 \u0627\u0644\u062a\u064a \u062a\u0633\u062a\u0645\u0631 \u0623\u0631\u0628\u0639 \u0633\u0646\u0648\u0627\u062a \u0642\u062f \u0644\u0627 \u062a\u0643\u0648\u0646 \u0642\u0627\u0628\u0644\u0629 \u0644\u0644\u062a\u0637\u0628\u064a\u0642 \u0628\u0639\u062f \u0627\u0644\u0622\u0646.<\/p>\n

\u064a\u0648\u0645 \u0627\u0644\u0627\u062b\u0646\u064a\u0646\u060c \u062a\u0648\u0642\u0639\u062a Grayscale Investments \u0648\u0645\u0642\u0631\u0647\u0627 \u0627\u0644\u0648\u0644\u0627\u064a\u0627\u062a \u0627\u0644\u0645\u062a\u062d\u062f\u0629 \u0623\u0646 \u0633\u0639\u0631 BTC \u0633\u064a\u0635\u0644 \u0625\u0644\u0649 \u0645\u0633\u062a\u0648\u0649 \u0642\u064a\u0627\u0633\u064a \u062c\u062f\u064a\u062f \u0641\u064a \u0627\u0644\u0646\u0635\u0641 \u0627\u0644\u0623\u0648\u0644 \u0645\u0646 \u0639\u0627\u0645 2026\u060c \u0645\u0633\u062a\u0634\u0647\u062f\u0629 \u0628\u0640 \u0637\u0644\u0628 \u0643\u0644\u064a \u0645\u062a\u0632\u0627\u064a\u062f \u0628\u0633\u0628\u0628 \u062e\u0641\u0636 \u0642\u064a\u0645\u0629 \u0627\u0644\u0639\u0645\u0644\u0629 \u0648\u0628\u064a\u0626\u0629 \u062a\u0646\u0638\u064a\u0645\u064a\u0629 \u062f\u0627\u0639\u0645\u0629 \u0641\u064a \u0627\u0644\u0648\u0644\u0627\u064a\u0627\u062a \u0627\u0644\u0645\u062a\u062d\u062f\u0629.<\/p>\n

\u0643\u062a\u0628\u062a Grayscale \u0641\u064a \u062a\u0642\u0631\u064a\u0631\u0647\u0627 \u0627\u0644\u0623\u062e\u064a\u0631: “\u062a\u062a\u0639\u0631\u0636 \u0627\u0644\u0639\u0645\u0644\u0627\u062a \u0627\u0644\u0648\u0631\u0642\u064a\u0629 (\u0648\u0627\u0644\u0623\u0635\u0648\u0644 \u0627\u0644\u0645\u0642\u0648\u0645\u0629 \u0628\u0627\u0644\u0639\u0645\u0644\u0627\u062a \u0627\u0644\u0648\u0631\u0642\u064a\u0629) \u0644\u0645\u062e\u0627\u0637\u0631 \u0625\u0636\u0627\u0641\u064a\u0629 \u0628\u0633\u0628\u0628 \u0627\u0631\u062a\u0641\u0627\u0639 \u0627\u0644\u062f\u064a\u0646 \u0627\u0644\u0639\u0627\u0645 \u0648\u0622\u062b\u0627\u0631\u0647 \u0627\u0644\u0645\u062d\u062a\u0645\u0644\u0629 \u0639\u0644\u0649 \u0627\u0644\u062a\u0636\u062e\u0645 \u0628\u0645\u0631\u0648\u0631 \u0627\u0644\u0648\u0642\u062a”\u060c \u0645\u0636\u064a\u0641\u0629: “\u0642\u062f \u062a\u0634\u0643\u0651\u0644 \u0627\u0644\u0633\u0644\u0639 \u0627\u0644\u0646\u0627\u062f\u0631\u0629 \u2014 \u0645\u062b\u0644 \u0627\u0644\u0630\u0647\u0628 \u0648\u0627\u0644\u0641\u0636\u0629 \u0627\u0644\u0645\u0627\u062f\u064a\u064a\u0646\u060c \u0623\u0648 \u0628\u064a\u062a\u0643\u0648\u064a\u0646 \u0648\u0625\u064a\u062b\u0631 \u0627\u0644\u0631\u0642\u0645\u064a\u064a\u0646 \u2014 \u062b\u0642\u0644\u064b\u0627 \u0645\u0648\u0627\u0632\u0646\u064b\u0627 \u062f\u0627\u062e\u0644 \u0627\u0644\u0645\u062d\u0627\u0641\u0638 \u0627\u0644\u0627\u0633\u062a\u062b\u0645\u0627\u0631\u064a\u0629 \u0641\u064a \u0645\u0648\u0627\u062c\u0647\u0629 \u0645\u062e\u0627\u0637\u0631 \u0627\u0644\u0639\u0645\u0644\u0627\u062a \u0627\u0644\u0648\u0631\u0642\u064a\u0629”.<\/span><\/p>\n

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\u062f\u064a\u0646 \u0627\u0644\u062d\u0643\u0648\u0645\u0629 \u0627\u0644\u0641\u064a\u062f\u0631\u0627\u0644\u064a\u0629 \u0627\u0644\u0623\u0645\u0631\u064a\u0643\u064a\u0629 \u0643\u0646\u0633\u0628\u0629 \u0645\u0646 \u0627\u0644\u0646\u0627\u062a\u062c \u0627\u0644\u0645\u062d\u0644\u064a \u0627\u0644\u0625\u062c\u0645\u0627\u0644\u064a. \u0627\u0644\u0645\u0635\u062f\u0631: Grayscale<\/em><\/figcaption><\/figure>\n
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\u0641\u064a\u062f\u0644\u064a\u062a\u064a \u062a\u0631\u0649 \u0628\u064a\u062a\u0643\u0648\u064a\u0646 \u0639\u0644\u0649 \u0623\u0639\u062a\u0627\u0628 \u00ab\u062f\u0648\u0631\u0629 \u0641\u0627\u0626\u0642\u0629\u00bb \u0645\u062b\u0644 \u0627\u0644\u0633\u0644\u0639<\/h2>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n

\u0634\u0627\u0631\u0643\u062a Fidelity \u0646\u0638\u0631\u0629 \u0645\u0633\u062a\u0642\u0628\u0644\u064a\u0629 \u0635\u0639\u0648\u062f\u064a\u0629 \u0645\u0645\u0627\u062b\u0644\u0629 \u0641\u064a \u062a\u0642\u0631\u064a\u0631\u0647\u0627 \u0644\u0639\u0627\u0645 2026 \u0639\u0646 \u062a\u0648\u0642\u0639\u0627\u062a \u0627\u0644\u0639\u0645\u0644\u0627\u062a \u0627\u0644\u0631\u0642\u0645\u064a\u0629.<\/p>\n

\u0646\u0627\u0642\u0634\u062a \u0634\u0631\u0643\u0629 \u0627\u0644\u0627\u0633\u062a\u062b\u0645\u0627\u0631 \u0627\u062d\u062a\u0645\u0627\u0644\u0627\u062a \u062f\u062e\u0648\u0644 \u0627\u0644\u0628\u064a\u062a\u0643\u0648\u064a\u0646 \u0641\u064a “\u062f\u0648\u0631\u0629 \u0641\u0627\u0626\u0642\u0629”\u060c \u0645\u0645\u0627\u062b\u0644\u0629 \u0644\u062f\u0648\u0631\u0627\u062a \u0627\u0644\u0633\u0644\u0639 \u0627\u0644\u0641\u0627\u0626\u0642\u0629 \u0641\u064a \u0627\u0644\u0639\u0642\u062f \u0627\u0644\u0623\u0648\u0644 \u0645\u0646 \u0627\u0644\u0642\u0631\u0646 \u0627\u0644\u062d\u0627\u062f\u064a \u0648\u0627\u0644\u0639\u0634\u0631\u064a\u0646 \u0627\u0644\u062a\u064a \u0627\u0645\u062a\u062f\u062a \u0644\u0645\u0627 \u064a\u0642\u0631\u0628 \u0645\u0646 \u0639\u0642\u062f \u0645\u0646 \u0627\u0644\u0632\u0645\u0627\u0646.<\/p>\n

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\u062a\u0642\u0648\u0645 \u0647\u0630\u0647 \u0627\u0644\u0631\u0624\u064a\u0629 \u0639\u0644\u0649 \u0639\u0627\u0645\u0644 \u0631\u0626\u064a\u0633\u064a\u060c \u0628\u062d\u0633\u0628 \u0643\u0631\u064a\u0633 \u0643\u0648\u064a\u0628\u0631\u060c \u0646\u0627\u0626\u0628 \u0631\u0626\u064a\u0633 \u0627\u0644\u0623\u0628\u062d\u0627\u062b \u0641\u064a \u00abFidelity Digital Assets\u00bb. \u0625\u0630 \u062a\u062d\u062f\u0651\u062b \u0639\u0646 \u00ab\u0645\u062c\u0645\u0648\u0639\u0629 \u062c\u062f\u064a\u062f\u0629 \u062a\u0645\u0627\u0645\u064b\u0627 \u0645\u0646 \u0627\u0644\u0645\u0633\u062a\u062b\u0645\u0631\u064a\u0646\u00bb\u060c \u0642\u062f \u062a\u0645\u0646\u062d \u0627\u0644\u0633\u0648\u0642 \u0645\u0633\u0627\u062d\u0629 \u0635\u0639\u0648\u062f \u0623\u0637\u0648\u0644 \u0645\u0645\u0627 \u0634\u0647\u062f\u062a\u0647 \u0627\u0644\u062f\u0648\u0631\u0627\u062a \u0627\u0644\u0633\u0627\u0628\u0642\u0629.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n

\u0642\u0627\u0644: “\u0644\u0642\u062f \u0631\u0623\u064a\u0646\u0627 \u0645\u062f\u064a\u0631\u064a \u0627\u0644\u0623\u0645\u0648\u0627\u0644 \u0648\u0627\u0644\u0645\u0633\u062a\u062b\u0645\u0631\u064a\u0646 \u0627\u0644\u062a\u0642\u0644\u064a\u062f\u064a\u064a\u0646 \u064a\u0628\u062f\u0623\u0648\u0646 \u0641\u064a \u0634\u0631\u0627\u0621 \u0627\u0644\u0628\u064a\u062a\u0643\u0648\u064a\u0646 \u0648\u0627\u0644\u0623\u0635\u0648\u0644 \u0627\u0644\u0631\u0642\u0645\u064a\u0629 \u0627\u0644\u0623\u062e\u0631\u0649”\u060c \u0645\u0636\u064a\u0641\u064b\u0627: “\u0623\u0639\u062a\u0642\u062f \u0623\u0646\u0646\u0627 \u0644\u0645 \u0646\u0644\u0627\u0645\u0633 \u0633\u0648\u0649 \u0627\u0644\u0633\u0637\u062d \u0641\u064a\u0645\u0627 \u064a\u062a\u0639\u0644\u0642 \u0628\u0643\u0645\u064a\u0629 \u0627\u0644\u0623\u0645\u0648\u0627\u0644 \u0627\u0644\u0645\u062d\u062a\u0645\u0644\u0629 \u0627\u0644\u062a\u064a \u064a\u0645\u0643\u0646\u0647\u0645 \u062c\u0644\u0628\u0647\u0627 \u0625\u0644\u0649 \u0647\u0630\u0627 \u0627\u0644\u0645\u062c\u0627\u0644.”<\/span><\/p>\n

\u0627\u0639\u062a\u0628\u0627\u0631\u064b\u0627 \u0645\u0646 \u062f\u064a\u0633\u0645\u0628\u0631\u060c \u0628\u0644\u063a \u0625\u062c\u0645\u0627\u0644\u064a \u0645\u0627 \u062a\u062d\u062a\u0641\u0638 \u0628\u0647 \u0635\u0646\u0627\u062f\u064a\u0642 ETF \u0627\u0644\u0623\u0645\u0631\u064a\u0643\u064a\u0629 \u0644\u0644\u0628\u064a\u062a\u0643\u0648\u064a\u0646 \u0627\u0644\u0645\u062f\u0639\u0648\u0645\u0629 \u0645\u0646 BlackRock \u0648 Fidelity \u0648\u063a\u064a\u0631\u0647\u0627 \u0623\u0643\u062b\u0631 \u0645\u0646 1.30 \u0645\u0644\u064a\u0648\u0646 BTC (\u062d\u0648\u0627\u0644\u064a 114.13 \u0645\u0644\u064a\u0627\u0631 \u062f\u0648\u0644\u0627\u0631)\u060c \u0628\u0632\u064a\u0627\u062f\u0629 \u0642\u062f\u0631\u0647\u0627 309% \u0645\u0646\u0630 \u0625\u0637\u0644\u0627\u0642\u0647\u0627 \u0641\u064a \u064a\u0646\u0627\u064a\u0631 2024.<\/p>\n

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\u0623\u0631\u0635\u062f\u0629 \u0635\u0646\u0627\u062f\u064a\u0642 ETF \u0644\u0644\u0628\u064a\u062a\u0643\u0648\u064a\u0646 \u0627\u0644\u0623\u0645\u0631\u064a\u0643\u064a\u0629. \u0627\u0644\u0645\u0635\u062f\u0631: Glassnode<\/em><\/figcaption><\/figure>\n

\u0641\u064a \u0627\u0644\u0648\u0642\u062a \u0646\u0641\u0633\u0647\u060c \u0627\u062d\u062a\u0641\u0638\u062a \u0627\u0644\u0634\u0631\u0643\u0627\u062a \u0627\u0644\u0639\u0627\u0645\u0629 \u0628\u0623\u0643\u062b\u0631 \u0645\u0646 1.08 \u0645\u0644\u064a\u0648\u0646 (~100.42 \u0645\u0644\u064a\u0627\u0631 \u062f\u0648\u0644\u0627\u0631) \u0641\u064a \u062e\u0632\u0627\u0626\u0646\u0647\u0627\u060c \u0648\u0647\u064a \u0645\u062c\u0645\u0648\u0639\u0629 \u0645\u0646 \u0627\u0644\u0645\u0633\u062a\u062b\u0645\u0631\u064a\u0646 \u0644\u0645 \u062a\u0643\u0646 \u0645\u0648\u062c\u0648\u062f\u0629 \u062a\u0642\u0631\u064a\u0628\u064b\u0627 \u0642\u0628\u0644 \u0639\u0627\u0645 2020.<\/p>\n

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\u0623\u0631\u0635\u062f\u0629 \u0628\u064a\u062a\u0643\u0648\u064a\u0646 \u0644\u062f\u0649 \u062e\u0632\u0627\u0626\u0646 \u0627\u0644\u0634\u0631\u0643\u0627\u062a<\/strong>. \u0627\u0644\u0645\u0635\u062f\u0631: Glassnode<\/em><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n<\/figcaption><\/figure>\n

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\u0648\u0645\u0639 \u062a\u0631\u0627\u062c\u0639 \u062a\u0623\u062b\u064a\u0631 \u0645\u064f\u0639\u062f\u0651\u0646\u064a \u0628\u064a\u062a\u0643\u0648\u064a\u0646 \u0628\u0639\u062f \u0643\u0644 \u00ab\u0647\u0627\u0644\u0641\u064a\u0646\u063a\u00bb (\u062a\u0646\u0635\u064a\u0641 \u0645\u0643\u0627\u0641\u0623\u0629 \u0627\u0644\u062a\u0639\u062f\u064a\u0646)\u060c \u0642\u062f \u064a\u062f\u0641\u0639 \u0627\u0644\u0637\u0644\u0628 \u0627\u0644\u062c\u062f\u064a\u062f \u0645\u0646 \u0635\u0646\u0627\u062f\u064a\u0642 ETF (\u0627\u0644\u0635\u0646\u0627\u062f\u064a\u0642 \u0627\u0644\u0645\u062a\u062f\u0627\u0648\u0644\u0629 \u0641\u064a \u0627\u0644\u0628\u0648\u0631\u0635\u0629) \u0648\u062e\u0632\u0627\u0626\u0646 \u0627\u0644\u0634\u0631\u0643\u0627\u062a \u0625\u0644\u0649 \u062a\u063a\u064a\u064a\u0631 \u0646\u0645\u0637 \u0627\u0644\u0635\u0639\u0648\u062f \u0648\u0627\u0644\u0647\u0628\u0648\u0637 \u0627\u0644\u0630\u064a \u0645\u064a\u0651\u0632 \u062a\u0627\u0631\u064a\u062e\u064a\u064b\u0627 \u062f\u0648\u0631\u0629 \u0628\u064a\u062a\u0643\u0648\u064a\u0646 \u0627\u0644\u0645\u0645\u062a\u062f\u0629 \u0644\u0623\u0631\u0628\u0639 \u0633\u0646\u0648\u0627\u062a.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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<\/div>\n","protected":false},"excerpt":{"rendered":"

\u0646\u0642\u0644\u0627\u064b \u0639\u0646 \u0645\u0648\u0642\u0639 cointelegraph\u060c \u062a\u062d\u0631\u0651\u0643\u062a \u0628\u064a\u062a\u0643\u0648\u064a\u0646 \u062a\u0627\u0631\u064a\u062e\u064a\u064b\u0627 \u0636\u0645\u0646 \u062f\u0648\u0631\u0627\u062a \u062a\u0645\u062a\u062f \u0644\u0623\u0631\u0628\u0639 \u0633\u0646\u0648\u0627\u062a \u0648\u062a\u0631\u062a\u0628\u0637 \u0628\u0623\u062d\u062f\u0627\u062b \u00ab\u0627\u0644\u0647\u0627\u0644\u0641\u064a\u0646\u063a\u00bb (\u062e\u0641\u0636 \u0645\u0643\u0627\u0641\u0623\u0629 \u0627\u0644\u062a\u0639\u062f\u064a\u0646 \u0625\u0644\u0649 \u0627\u0644\u0646\u0635\u0641\u060c \u0645\u0627 \u064a\u0642\u0644\u0651\u0635 \u0627\u0644\u0645\u0639\u0631\u0648\u0636 \u0627\u0644\u062c\u062f\u064a\u062f). \u0639\u0627\u062f\u0629\u064b \u0645\u0627 \u062a\u0635\u0644 \u0627\u0644\u0623\u0633\u0639\u0627\u0631 \u0625\u0644\u0649 \u0630\u0631\u0648\u062a\u0647\u0627 \u0628\u0639\u062f 12 \u0625\u0644\u0649 18 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