{"id":29180,"date":"2025-01-13T09:31:57","date_gmt":"2025-01-13T02:31:57","guid":{"rendered":"https:\/\/www.fiahub.com\/blog\/?p=29180"},"modified":"2025-04-14T20:39:46","modified_gmt":"2025-04-14T13:39:46","slug":"phan-tich-du-lieu-on-chain-bitcoin-tuan-02-2025","status":"publish","type":"post","link":"https:\/\/www.fiahub.com\/blog\/phan-tich-du-lieu-on-chain-bitcoin-tuan-02-2025\/","title":{"rendered":"Ph\u00e2n t\u00edch d\u1eef li\u1ec7u on-chain Bitcoin tu\u1ea7n 02\/2025 &#8211; Fiahub"},"content":{"rendered":"<p><i><span style=\"font-weight: 400;\">D\u1eef li\u1ec7u c\u1eadp nh\u1eadt t\u1eeb ng\u00e0y 06\/01 &#8211; 12\/01.<\/span><\/i><\/p>\n<ul>\n<li><strong>Xem th\u00eam<\/strong>: <a href=\"https:\/\/www.fiahub.com\/blog\/phan-tich-du-lieu-on-chain-bitcoin-tuan-01-2025\/\">Ph\u00e2n t\u00edch d\u1eef li\u1ec7u on-chain Bitcoin tu\u1ea7n 01\/2025: IOR b\u00e1o hi\u1ec7u tr\u1ea1ng th\u00e1i c\u00e2n b\u1eb1ng th\u1ecb tr\u01b0\u1eddng, m\u1ed1c quan tr\u1ecdng \u1edf 98,116 USD<\/a><\/li>\n<\/ul>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_83 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\"><p class=\"ez-toc-title\" style=\"cursor:inherit\">N\u1ed9i dung b\u00e0i vi\u1ebft<\/p>\n<\/div><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.fiahub.com\/blog\/phan-tich-du-lieu-on-chain-bitcoin-tuan-02-2025\/#Bitcoin_dang_huong_den_giai_doan_tich_luy_hoac_dieu_chinh_them\" >Bitcoin \u0111ang h\u01b0\u1edbng \u0111\u1ebfn giai \u0111o\u1ea1n t\u00edch lu\u1ef9 ho\u1eb7c \u0111i\u1ec1u ch\u1ec9nh th\u00eam<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.fiahub.com\/blog\/phan-tich-du-lieu-on-chain-bitcoin-tuan-02-2025\/#Chu_ky_cua_Bitcoin_co_the_sap_ket_thuc_Cac_chi_so_chinh_cho_thay_su_dieu_chinh_sap_xay_ra\" >Chu k\u1ef3 c\u1ee7a Bitcoin c\u00f3 th\u1ec3 s\u1eafp k\u1ebft th\u00fac: C\u00e1c ch\u1ec9 s\u1ed1 ch\u00ednh cho th\u1ea5y s\u1ef1 \u0111i\u1ec1u ch\u1ec9nh s\u1eafp x\u1ea3y ra<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.fiahub.com\/blog\/phan-tich-du-lieu-on-chain-bitcoin-tuan-02-2025\/#NUPL_cua_Bitcoin\" >NUPL c\u1ee7a Bitcoin<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.fiahub.com\/blog\/phan-tich-du-lieu-on-chain-bitcoin-tuan-02-2025\/#Hoat_dong_ngan_han_tang_len\" >Ho\u1ea1t \u0111\u1ed9ng ng\u1eafn h\u1ea1n t\u0103ng l\u00ean<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.fiahub.com\/blog\/phan-tich-du-lieu-on-chain-bitcoin-tuan-02-2025\/#Block_Subsidy_cho_thay_muc_khang_cu\" >Block Subsidy cho th\u1ea5y m\u1ee9c kh\u00e1ng c\u1ef1<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.fiahub.com\/blog\/phan-tich-du-lieu-on-chain-bitcoin-tuan-02-2025\/#Loi_ket\" >L\u1eddi k\u1ebft<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Bitcoin_dang_huong_den_giai_doan_tich_luy_hoac_dieu_chinh_them\"><\/span><b>Bitcoin \u0111ang h\u01b0\u1edbng \u0111\u1ebfn giai \u0111o\u1ea1n t\u00edch lu\u1ef9 ho\u1eb7c \u0111i\u1ec1u ch\u1ec9nh th\u00eam<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Hi\u1ec7n t\u1ea1i, <a href=\"https:\/\/www.fiahub.com\/blog\/bitcoin-la-gi-tong-quan-ve-dong-tien-dien-tu-dau-tien\/\">Bitcoin<\/a> (BTC) \u0111ang giao d\u1ecbch \u1edf m\u1ee9c 92,579 USD. T\u00e0i s\u1ea3n ti\u1ec1n \u0111i\u1ec7n t\u1eed h\u00e0ng \u0111\u1ea7u theo v\u1ed1n h\u00f3a th\u1ecb tr\u01b0\u1eddng \u0111\u00e3 gi\u1ea3m g\u1ea7n 3% trong 24 gi\u1edd qua v\u00e0 h\u01a1n 4% trong b\u1ea3y ng\u00e0y qua. BTC c\u0169ng c\u00f2n gi\u1ea3m h\u01a1n 14% so v\u1edbi m\u1ee9c cao nh\u1ea5t m\u1ecdi th\u1eddi \u0111\u1ea1i 108,135 USD, \u0111\u01b0\u1ee3c thi\u1ebft l\u1eadp v\u00e0o th\u00e1ng 12.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Theo c\u00f4ng ty ph\u00e2n t\u00edch ti\u1ec1n \u0111i\u1ec7n t\u1eed Glassnode, c\u00e1c ch\u1ec9 s\u1ed1 on-chain cho th\u1ea5y Bitcoin (BTC) c\u00f3 th\u1ec3 \u0111ang h\u01b0\u1edbng t\u1edbi giai \u0111o\u1ea1n t\u00edch l\u0169y ho\u1eb7c \u0111i\u1ec1u ch\u1ec9nh th\u00eam do \u00e1p l\u1ef1c mua suy y\u1ebfu. Glassnode cho bi\u1ebft tr\u00ean n\u1ec1n t\u1ea3ng m\u1ea1ng x\u00e3 h\u1ed9i X r\u1eb1ng \u0111\u1ed9ng l\u1ef1c nhu c\u1ea7u ng\u1eafn h\u1ea1n c\u1ee7a BTC \u0111\u00e3 gi\u1ea3m s\u00fat. M\u1ed9t ch\u1ec9 b\u00e1o quan tr\u1ecdng: Hot Capital (v\u1ed1n \u0111\u01b0\u1ee3c k\u00edch ho\u1ea1t l\u1ea1i trong 7 ng\u00e0y qua) \u0111\u00e3 gi\u1ea3m 66.7% t\u1eeb \u0111\u1ec9nh 96.2 t\u1ef7 v\u00e0o ng\u00e0y 12\/12 xu\u1ed1ng c\u00f2n 32 t\u1ef7.<\/span><\/p>\n<figure id=\"attachment_29187\" aria-describedby=\"caption-attachment-29187\" style=\"width: 1800px\" class=\"wp-caption aligncenter\"><img fetchpriority=\"high\" decoding=\"async\" class=\"size-full wp-image-29187\" src=\"https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/01\/01-13-01-builink-bitcoin-realized-cap-by-age.jpeg\" alt=\"Bitcoin Realized Cap by Age\" width=\"1800\" height=\"1013\" srcset=\"https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/01\/01-13-01-builink-bitcoin-realized-cap-by-age.jpeg 1800w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/01\/01-13-01-builink-bitcoin-realized-cap-by-age-300x169.jpeg 300w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/01\/01-13-01-builink-bitcoin-realized-cap-by-age-1024x576.jpeg 1024w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/01\/01-13-01-builink-bitcoin-realized-cap-by-age-150x84.jpeg 150w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/01\/01-13-01-builink-bitcoin-realized-cap-by-age-768x432.jpeg 768w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/01\/01-13-01-builink-bitcoin-realized-cap-by-age-1536x864.jpeg 1536w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/01\/01-13-01-builink-bitcoin-realized-cap-by-age-450x253.jpeg 450w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/01\/01-13-01-builink-bitcoin-realized-cap-by-age-1200x675.jpeg 1200w\" sizes=\"(max-width: 1800px) 100vw, 1800px\" \/><figcaption id=\"caption-attachment-29187\" class=\"wp-caption-text\">Bitcoin Realized Cap by Age<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">C\u00f4ng ty c\u0169ng l\u01b0u \u00fd r\u1eb1ng \u0111\u1ed9ng l\u1ef1c kh\u1ed1i l\u01b0\u1ee3ng giao d\u1ecbch tr\u00ean s\u00e0n v\u00e0 t\u1ef7 l\u1ec7 t\u00e0i tr\u1ee3 (Funding rate) th\u1ea5p c\u1ee7a BTC c\u0169ng g\u1ee3i \u00fd v\u1ec1 nhu c\u1ea7u gi\u1ea3m. Trung b\u00ecnh 30 ng\u00e0y c\u1ee7a kh\u1ed1i l\u01b0\u1ee3ng giao d\u1ecbch tr\u00ean s\u00e0n \u0111ang ti\u1ebfn g\u1ea7n \u0111\u1ebfn trung b\u00ecnh 365 ng\u00e0y, ph\u1ea3n \u00e1nh d\u00f2ng v\u1ed1n gi\u1ea3m k\u1ec3 t\u1eeb \u0111\u1ec9nh th\u1ecb tr\u01b0\u1eddng th\u00e1ng 12.<\/span><\/p>\n<figure id=\"attachment_29186\" aria-describedby=\"caption-attachment-29186\" style=\"width: 1800px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" class=\"size-full wp-image-29186\" src=\"https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/01\/01-13-02-builink-exchange-volume-momentum.jpeg\" alt=\"Exchange volume momentum\" width=\"1800\" height=\"1013\" srcset=\"https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/01\/01-13-02-builink-exchange-volume-momentum.jpeg 1800w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/01\/01-13-02-builink-exchange-volume-momentum-300x169.jpeg 300w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/01\/01-13-02-builink-exchange-volume-momentum-1024x576.jpeg 1024w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/01\/01-13-02-builink-exchange-volume-momentum-150x84.jpeg 150w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/01\/01-13-02-builink-exchange-volume-momentum-768x432.jpeg 768w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/01\/01-13-02-builink-exchange-volume-momentum-1536x864.jpeg 1536w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/01\/01-13-02-builink-exchange-volume-momentum-450x253.jpeg 450w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/01\/01-13-02-builink-exchange-volume-momentum-1200x675.jpeg 1200w\" sizes=\"(max-width: 1800px) 100vw, 1800px\" \/><figcaption id=\"caption-attachment-29186\" class=\"wp-caption-text\">Exchange volume momentum<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Trung b\u00ecnh \u0111\u1ed9ng 7 ng\u00e0y c\u1ee7a t\u1ef7 l\u1ec7 t\u00e0i tr\u1ee3 trung b\u00ecnh, c\u0169ng nh\u01b0 t\u1ef7 l\u1ec7 t\u00e0i tr\u1ee3 t\u1eeb ba th\u1ecb tr\u01b0\u1eddng h\u1ee3p \u0111\u1ed3ng v\u0129nh vi\u1ec5n h\u00e0ng \u0111\u1ea7u, v\u1eabn d\u01b0\u1edbi m\u1ee9c trung t\u00ednh 0.01%. \u0110i\u1ec1u n\u00e0y cho th\u1ea5y s\u1ef1 thi\u1ebfu h\u1ee5t li\u00ean t\u1ee5c nhu c\u1ea7u t\u1eeb ng\u01b0\u1eddi mua t\u00edch c\u1ef1c, m\u1eb7c d\u00f9 c\u00f3 \u0111\u1ee3t t\u0103ng ng\u1eafn l\u00ean 102,000 USD.<\/span><\/p>\n<figure id=\"attachment_29185\" aria-describedby=\"caption-attachment-29185\" style=\"width: 1800px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" class=\"size-full wp-image-29185\" src=\"https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/01\/01-13-03-builink-funding-rate.jpeg\" alt=\"Funding rate\" width=\"1800\" height=\"1013\" srcset=\"https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/01\/01-13-03-builink-funding-rate.jpeg 1800w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/01\/01-13-03-builink-funding-rate-300x169.jpeg 300w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/01\/01-13-03-builink-funding-rate-1024x576.jpeg 1024w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/01\/01-13-03-builink-funding-rate-150x84.jpeg 150w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/01\/01-13-03-builink-funding-rate-768x432.jpeg 768w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/01\/01-13-03-builink-funding-rate-1536x864.jpeg 1536w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/01\/01-13-03-builink-funding-rate-450x253.jpeg 450w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/01\/01-13-03-builink-funding-rate-1200x675.jpeg 1200w\" sizes=\"(max-width: 1800px) 100vw, 1800px\" \/><figcaption id=\"caption-attachment-29185\" class=\"wp-caption-text\">Funding rate<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">N\u1ebfu kh\u00f4ng c\u00f3 ch\u1ea5t x\u00fac t\u00e1c m\u1edbi, nhu c\u1ea7u ng\u1eafn h\u1ea1n suy y\u1ebfu cho th\u1ea5y ho\u1eb7c l\u00e0 m\u1ed9t giai \u0111o\u1ea1n t\u00edch l\u0169y \u0111i ngang ho\u1eb7c kh\u1ea3 n\u0103ng \u0111i\u1ec1u ch\u1ec9nh th\u00eam t\u0103ng cao.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Chu_ky_cua_Bitcoin_co_the_sap_ket_thuc_Cac_chi_so_chinh_cho_thay_su_dieu_chinh_sap_xay_ra\"><\/span><b>Chu k\u1ef3 c\u1ee7a Bitcoin c\u00f3 th\u1ec3 s\u1eafp k\u1ebft th\u00fac: C\u00e1c ch\u1ec9 s\u1ed1 ch\u00ednh cho th\u1ea5y s\u1ef1 \u0111i\u1ec1u ch\u1ec9nh s\u1eafp x\u1ea3y ra<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">S\u1ef1 suy tho\u00e1i g\u1ea7n \u0111\u00e2y c\u1ee7a Bitcoin (BTC), sau m\u1ee9c cao nh\u1ea5t m\u1ecdi th\u1eddi \u0111\u1ea1i l\u00e0 108,364 USD v\u00e0o ng\u00e0y 17\/12, \u0111\u00e3 l\u00e0m d\u1ea5y l\u00ean m\u1ed1i lo ng\u1ea1i v\u1ec1 s\u1ef1 kh\u1edfi \u0111\u1ea7u c\u1ee7a m\u1ed9t xu h\u01b0\u1edbng gi\u1ea3m gi\u00e1. \u0110\u1ec9nh m\u1edbi nh\u1ea5t, t\u0103ng 57% so v\u1edbi m\u1ee9c cao c\u1ee7a chu k\u1ef3 tr\u01b0\u1edbc, \u0111\u00e3 \u0111\u1ea1t \u0111\u01b0\u1ee3c ch\u1ec9 trong 1,134 ng\u00e0y\u2014ng\u1eafn h\u01a1n v\u00e0 k\u00e9m m\u1ea1nh m\u1ebd h\u01a1n so v\u1edbi chu k\u1ef3 tr\u01b0\u1edbc, ch\u1ee9ng ki\u1ebfn \u200b\u200bm\u1ee9c t\u0103ng 250% trong 1,428 ng\u00e0y.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">K\u1ec3 t\u1eeb khi \u0111\u1ea1t \u0111\u1ec9nh, Bitcoin \u0111\u00e3 gi\u1ea3m 14%, l\u00e0m d\u1ea5y l\u00ean n\u1ed7i s\u1ee3 h\u00e3i trong s\u1ed1 c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0. Trong khi nhi\u1ec1u ch\u1ec9 s\u1ed1 tr\u00ean chu\u1ed7i cho th\u1ea5y \u0111\u1ee3t t\u0103ng gi\u00e1 v\u1eabn c\u00f3 th\u1ec3 c\u00f3 ch\u1ed7 \u0111\u1ec3 t\u0103ng, c\u00e1c s\u1ed1 li\u1ec7u kh\u00e1c\u2014ch\u1eb3ng h\u1ea1n nh\u01b0 \u0111\u1ed9 tu\u1ed5i c\u1ee7a nh\u1eefng ng\u01b0\u1eddi tham gia th\u1ecb tr\u01b0\u1eddng (the age of market participants) v\u00e0 m\u1ee9c l\u1ee3i nhu\u1eadn ch\u01b0a th\u1ef1c hi\u1ec7n (levels of unrealized profits) \u2014 \u0111ang b\u00e1o hi\u1ec7u s\u1ef1 th\u1eadn tr\u1ecdng, \u00e1m ch\u1ec9 \u0111\u1ebfn kh\u1ea3 n\u0103ng k\u1ebft th\u00fac chu k\u1ef3.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"NUPL_cua_Bitcoin\"><\/span><b>NUPL c\u1ee7a Bitcoin<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Ch\u1ec9 b\u00e1o L\u1ee3i nhu\u1eadn\/L\u1ed7 ch\u01b0a th\u1ef1c hi\u1ec7n r\u00f2ng (Net Unrealized Profit\/Loss &#8211; NUPL) c\u1ee7a Bitcoin l\u00e0 m\u1ed9t c\u00f4ng c\u1ee5 quan tr\u1ecdng \u0111\u1ec3 \u0111\u00e1nh gi\u00e1 t\u00e2m l\u00fd th\u1ecb tr\u01b0\u1eddng, cho bi\u1ebft c\u00f3 bao nhi\u00eau l\u1ee3i nhu\u1eadn ho\u1eb7c l\u1ed7 ch\u01b0a th\u1ef1c hi\u1ec7n so v\u1edbi v\u1ed1n h\u00f3a th\u1ecb tr\u01b0\u1eddng. NUPL cao th\u01b0\u1eddng b\u00e1o hi\u1ec7u s\u1ef1 h\u01b0ng ph\u1ea5n, th\u01b0\u1eddng tr\u00f9ng v\u1edbi \u0111\u1ec9nh c\u1ee7a chu k\u1ef3 th\u1ecb tr\u01b0\u1eddng. Ng\u01b0\u1eddi n\u1eafm gi\u1eef d\u00e0i h\u1ea1n (LTH) NUPL \u0111\u1eb7c bi\u1ec7t \u0111\u00e1ng tin c\u1eady trong vi\u1ec7c d\u1ef1 \u0111o\u00e1n \u0111\u1ec9nh chu k\u1ef3.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Theo l\u1ecbch s\u1eed, trong m\u1ed7i \u0111\u1ec9nh c\u1ee7a chu k\u1ef3, LTH-NUPL t\u0103ng v\u1ecdt l\u00ean tr\u00ean 0.75 v\u00e0 duy tr\u00ec \u1edf m\u1ee9c \u0111\u00f3 cho \u0111\u1ebfn khi Bitcoin \u0111\u1ea1t m\u1ee9c cao nh\u1ea5t m\u1ecdi th\u1eddi \u0111\u1ea1i. N\u0103m 2017, LTH-NUPL dao \u0111\u1ed9ng tr\u00ean 0.7 trong h\u01a1n s\u00e1u th\u00e1ng, \u0111\u1ea1t \u0111\u1ec9nh \u1edf m\u1ee9c 0.97. T\u01b0\u01a1ng t\u1ef1 nh\u01b0 v\u1eady, v\u00e0o n\u0103m 2021, n\u00f3 duy tr\u00ec tr\u00ean 0.75 trong b\u1ed1n th\u00e1ng, \u0111\u1ea1t \u0111\u1ec9nh \u1edf m\u1ee9c 0.91.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">V\u00e0o th\u00e1ng 12\/2024, khi Bitcoin \u0111\u1ea1t m\u1ee9c cao nh\u1ea5t m\u1ecdi th\u1eddi \u0111\u1ea1i, LTH-NUPL l\u1ea1i v\u01b0\u1ee3t qua m\u1ed1c 0.75 m\u1ed9t l\u1ea7n n\u1eefa. N\u1ebfu chu k\u1ef3 n\u00e0y ph\u1ea3n \u00e1nh c\u00e1c chu k\u1ef3 tr\u01b0\u1edbc \u0111\u00f3, Bitcoin c\u00f3 th\u1ec3 ti\u1ebfp t\u1ee5c t\u0103ng trong 4-6 th\u00e1ng n\u1eefa tr\u01b0\u1edbc khi b\u1eaft \u0111\u1ea7u \u0111i\u1ec1u ch\u1ec9nh. Ch\u1ec9 s\u1ed1 LTH-NUPL hi\u1ec7n t\u1ea1i cho th\u1ea5y Bitcoin hi\u1ec7n c\u00f3 th\u1ec3 \u0111ang \u1edf giai \u0111o\u1ea1n cu\u1ed1i c\u1ee7a qu\u00e1 tr\u00ecnh t\u0103ng gi\u00e1 trong chu k\u1ef3 n\u00e0y.<\/span><\/p>\n<figure id=\"attachment_29182\" aria-describedby=\"caption-attachment-29182\" style=\"width: 1800px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-29182\" src=\"https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/01\/01-13-04-builink-bitcoin-long-term-holder-nupl.jpg\" alt=\"Bitcoin LTH-NUPL\" width=\"1800\" height=\"1013\" srcset=\"https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/01\/01-13-04-builink-bitcoin-long-term-holder-nupl.jpg 1800w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/01\/01-13-04-builink-bitcoin-long-term-holder-nupl-300x169.jpg 300w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/01\/01-13-04-builink-bitcoin-long-term-holder-nupl-1024x576.jpg 1024w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/01\/01-13-04-builink-bitcoin-long-term-holder-nupl-150x84.jpg 150w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/01\/01-13-04-builink-bitcoin-long-term-holder-nupl-768x432.jpg 768w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/01\/01-13-04-builink-bitcoin-long-term-holder-nupl-1536x864.jpg 1536w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/01\/01-13-04-builink-bitcoin-long-term-holder-nupl-450x253.jpg 450w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/01\/01-13-04-builink-bitcoin-long-term-holder-nupl-1200x675.jpg 1200w\" sizes=\"(max-width: 1800px) 100vw, 1800px\" \/><figcaption id=\"caption-attachment-29182\" class=\"wp-caption-text\">Bitcoin LTH-NUPL<\/figcaption><\/figure>\n<h3><span class=\"ez-toc-section\" id=\"Hoat_dong_ngan_han_tang_len\"><\/span><b>Ho\u1ea1t \u0111\u1ed9ng ng\u1eafn h\u1ea1n t\u0103ng l\u00ean<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Ch\u1ec9 b\u00e1o on-chain Bitcoin Realized Cap HODL Wave l\u00e0 m\u1ed9t ch\u1ec9 b\u00e1o tr\u00ean chu\u1ed7i tr\u1ef1c quan h\u00f3a \u0111\u1ed9 tu\u1ed5i c\u1ee7a c\u00e1c giao d\u1ecbch Bitcoin. Theo l\u1ecbch s\u1eed, \u0111\u1ec9nh chu k\u1ef3 th\u1ecb tr\u01b0\u1eddng Bitcoin x\u1ea3y ra khi nh\u1eefng ng\u01b0\u1eddi n\u1eafm gi\u1eef ng\u1eafn h\u1ea1n (STH) t\u1ea1o ra ph\u1ea7n l\u1edbn ho\u1ea1t \u0111\u1ed9ng. Trong c\u1ea3 hai \u0111\u1ec9nh chu k\u1ef3 tr\u01b0\u1edbc, nh\u1eefng ng\u01b0\u1eddi n\u1eafm gi\u1eef ng\u1eafn h\u1ea1n trong t\u1ed1i \u0111a 3 th\u00e1ng chi\u1ebfm h\u01a1n 70% ho\u1ea1t \u0111\u1ed9ng.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Nh\u00ecn chung, \u0111i\u1ec1u n\u00e0y c\u00f3 ngh\u0129a l\u00e0 nh\u1eefng nh\u00e0 \u0111\u1ea7u c\u01a1 ng\u1eafn h\u1ea1n th\u1ed1ng tr\u1ecb th\u1ecb tr\u01b0\u1eddng, trong khi nh\u1eefng ng\u01b0\u1eddi n\u1eafm gi\u1eef d\u00e0i h\u1ea1n c\u00f3 ni\u1ec1m tin \u0111\u00e3 tho\u00e1t kh\u1ecfi th\u1ecb tr\u01b0\u1eddng. \u0110i\u1ec1u n\u00e0y c\u0169ng ph\u00f9 h\u1ee3p v\u1edbi ch\u1ec9 b\u00e1o LTH-NUPL, ch\u1ec9 b\u00e1o n\u00e0y \u0111o l\u01b0\u1eddng l\u1ee3i nhu\u1eadn c\u1ee7a nh\u1eefng ng\u01b0\u1eddi n\u1eafm gi\u1eef d\u00e0i h\u1ea1n n\u00e0y.<\/span><\/p>\n<figure id=\"attachment_29183\" aria-describedby=\"caption-attachment-29183\" style=\"width: 1800px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-29183\" src=\"https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/01\/01-13-05-builink-hodl-waves-1.jpg\" alt=\"Realized Cap HODL Wave\" width=\"1800\" height=\"1013\" srcset=\"https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/01\/01-13-05-builink-hodl-waves-1.jpg 1800w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/01\/01-13-05-builink-hodl-waves-1-300x169.jpg 300w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/01\/01-13-05-builink-hodl-waves-1-1024x576.jpg 1024w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/01\/01-13-05-builink-hodl-waves-1-150x84.jpg 150w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/01\/01-13-05-builink-hodl-waves-1-768x432.jpg 768w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/01\/01-13-05-builink-hodl-waves-1-1536x864.jpg 1536w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/01\/01-13-05-builink-hodl-waves-1-450x253.jpg 450w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/01\/01-13-05-builink-hodl-waves-1-1200x675.jpg 1200w\" sizes=\"(max-width: 1800px) 100vw, 1800px\" \/><figcaption id=\"caption-attachment-29183\" class=\"wp-caption-text\">Realized Cap HODL Wave<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Hi\u1ec7n t\u1ea1i, nh\u1eefng ng\u01b0\u1eddi n\u1eafm gi\u1eef ng\u1eafn h\u1ea1n chi\u1ebfm h\u01a1n 50% ho\u1ea1t \u0111\u1ed9ng c\u1ee7a th\u1ecb tr\u01b0\u1eddng. M\u1eb7c d\u00f9 \u0111\u00e2y l\u00e0 m\u1ee9c cao h\u01a1n so v\u1edbi th\u00e1ng 3\/2024, nh\u01b0ng v\u1eabn th\u1ea5p h\u01a1n nhi\u1ec1u so v\u1edbi m\u1ee9c cao n\u0103m 2017 v\u00e0 2021. Tuy nhi\u00ean, ho\u1ea1t \u0111\u1ed9ng STH \u0111ang t\u0103ng d\u1ea7n v\u00e0 c\u00f3 th\u1ec3 v\u01b0\u1ee3t ng\u01b0\u1ee1ng 70% trong m\u1ed9t \u0111\u1ee3t t\u0103ng gi\u00e1 BTC kh\u00e1c.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Block_Subsidy_cho_thay_muc_khang_cu\"><\/span><b>Block Subsidy cho th\u1ea5y m\u1ee9c kh\u00e1ng c\u1ef1<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Cu\u1ed1i c\u00f9ng, m\u00f4 h\u00ecnh Block Subsidy s\u1eed d\u1ee5ng \u0111\u01b0\u1eddng trung b\u00ecnh \u0111\u1ed9ng (MA) li\u00ean quan \u0111\u1ebfn chi ph\u00ed s\u1ea3n xu\u1ea5t (thermocap) \u0111\u1ec3 x\u00e1c \u0111\u1ecbnh gi\u00e1 tr\u1ecb t\u00e0i s\u1ea3n v\u01b0\u1ee3t qu\u00e1 chi ph\u00ed s\u1ea3n xu\u1ea5t bao nhi\u00eau. \u0110i\u1ec1u n\u00e0y \u0111\u01b0\u1ee3c th\u1ef1c hi\u1ec7n b\u1eb1ng c\u00e1ch so s\u00e1nh v\u1ed1n h\u00f3a th\u1ecb tr\u01b0\u1eddng v\u1edbi b\u1ed9i s\u1ed1 c\u1ee7a thermocap.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u0110\u1ec9nh chu k\u1ef3 th\u1ecb tr\u01b0\u1eddng Bitcoin tr\u01b0\u1edbc \u0111\u00f3 x\u1ea3y ra tr\u00ean \u0111\u01b0\u1eddng Thermocap 32x, trong khi \u0111\u1ec9nh tr\u01b0\u1edbc \u0111\u00f3 n\u1eb1m tr\u00ean \u0111\u01b0\u1eddng 62x (m\u00e0u \u0111\u1ecf). \u0110i\u1ec1u n\u00e0y cho th\u1ea5y l\u1ee3i nhu\u1eadn gi\u1ea3m d\u1ea7n v\u00e0 c\u00f3 th\u1ec3 c\u00f3 ngh\u0129a l\u00e0 chu k\u1ef3 hi\u1ec7n t\u1ea1i s\u1ebd k\u1ebft th\u00fac ngay c\u1ea3 d\u01b0\u1edbi \u0111\u01b0\u1eddng 32x.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Gi\u00e1 BTC \u0111\u00e3 \u0111\u1ea1t \u0111\u1ebfn \u0111\u01b0\u1eddng xu h\u01b0\u1edbng 32x trong th\u1eddi gian cao nh\u1ea5t m\u1ecdi th\u1eddi \u0111\u1ea1i nh\u01b0ng kh\u00f4ng \u0111\u1ed9t ph\u00e1. N\u1ebfu m\u00f4 h\u00ecnh l\u1ee3i nhu\u1eadn gi\u1ea3m d\u1ea7n v\u1eabn ti\u1ebfp t\u1ee5c, gi\u00e1 Bitcoin c\u00f3 th\u1ec3 \u0111\u00e3 \u0111\u1ea1t \u0111\u1ebfn \u0111\u1ec9nh ho\u1eb7c r\u1ea5t g\u1ea7n v\u1edbi \u0111\u1ec9nh.<\/span><\/p>\n<figure id=\"attachment_29184\" aria-describedby=\"caption-attachment-29184\" style=\"width: 1800px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-29184\" src=\"https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/01\/01-13-06-builink-block-subsidy.jpg\" alt=\"Block Subsidy Model \" width=\"1800\" height=\"1013\" srcset=\"https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/01\/01-13-06-builink-block-subsidy.jpg 1800w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/01\/01-13-06-builink-block-subsidy-300x169.jpg 300w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/01\/01-13-06-builink-block-subsidy-1024x576.jpg 1024w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/01\/01-13-06-builink-block-subsidy-150x84.jpg 150w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/01\/01-13-06-builink-block-subsidy-768x432.jpg 768w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/01\/01-13-06-builink-block-subsidy-1536x864.jpg 1536w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/01\/01-13-06-builink-block-subsidy-450x253.jpg 450w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/01\/01-13-06-builink-block-subsidy-1200x675.jpg 1200w\" sizes=\"(max-width: 1800px) 100vw, 1800px\" \/><figcaption id=\"caption-attachment-29184\" class=\"wp-caption-text\">Block Subsidy Model<\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Loi_ket\"><\/span><b>L\u1eddi k\u1ebft<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Trong c\u00e1c ch\u1ec9 b\u00e1o on-chain Bitcoin k\u1ec3 tr\u00ean, m\u00f4 h\u00ecnh Block Subsidy l\u00e0 m\u00f4 h\u00ecnh bi quan nh\u1ea5t, cho th\u1ea5y Bitcoin c\u00f3 th\u1ec3 \u0111\u00e3 \u0111\u1ea1t \u0111\u1ebfn \u0111\u1ec9nh. Ch\u1ec9 b\u00e1o s\u00f3ng HODL t\u1ef1 tin d\u1ef1 \u0111o\u00e1n m\u1ed9t \u0111\u1ec9nh cao kh\u00e1c, trong khi LTH-NUPL c\u00f3 xu h\u01b0\u1edbng t\u0103ng nh\u01b0ng kh\u00f4ng ho\u00e0n to\u00e0n lo\u1ea1i tr\u1eeb kh\u1ea3 n\u0103ng \u0111\u1ea1t \u0111\u1ec9nh \u1edf m\u1ee9c hi\u1ec7n t\u1ea1i. Trong m\u1ecdi tr\u01b0\u1eddng h\u1ee3p, Bitcoin d\u01b0\u1eddng nh\u01b0 ch\u1ec9 c\u00f2n nhi\u1ec1u nh\u1ea5t m\u1ed9t \u0111\u1ed9ng th\u00e1i t\u0103ng n\u1eefa tr\u01b0\u1edbc khi b\u1eaft \u0111\u1ea7u xu h\u01b0\u1edbng gi\u1ea3m.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>D\u1eef li\u1ec7u c\u1eadp nh\u1eadt t\u1eeb ng\u00e0y 06\/01 &#8211; 12\/01. Xem th\u00eam: Ph\u00e2n t\u00edch d\u1eef li\u1ec7u on-chain Bitcoin tu\u1ea7n 01\/2025: IOR b\u00e1o hi\u1ec7u tr\u1ea1ng th\u00e1i c\u00e2n b\u1eb1ng th\u1ecb tr\u01b0\u1eddng, m\u1ed1c quan tr\u1ecdng \u1edf 98,116 USD Bitcoin \u0111ang h\u01b0\u1edbng \u0111\u1ebfn giai \u0111o\u1ea1n t\u00edch lu\u1ef9 ho\u1eb7c \u0111i\u1ec1u ch\u1ec9nh th\u00eam Hi\u1ec7n t\u1ea1i, Bitcoin (BTC) \u0111ang giao d\u1ecbch \u1edf m\u1ee9c<\/p>\n","protected":false},"author":23,"featured_media":29181,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21849],"tags":[221,3102,8097],"class_list":{"0":"post-29180","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-phan-tich-nhan-dinh","8":"tag-bitcoin","9":"tag-btc","10":"tag-on-chain"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.0 (Yoast SEO v27.6) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Ph\u00e2n t\u00edch d\u1eef li\u1ec7u on-chain Bitcoin tu\u1ea7n 02\/2025 - Fiahub - Fiahub<\/title>\n<meta name=\"description\" content=\"Trong c\u00e1c ch\u1ec9 b\u00e1o on-chain Bitcoin k\u1ec3 tr\u00ean, m\u00f4 h\u00ecnh Block Subsidy l\u00e0 m\u00f4 h\u00ecnh bi quan nh\u1ea5t, cho th\u1ea5y Bitcoin c\u00f3 th\u1ec3 \u0111\u00e3 \u0111\u1ea1t \u0111\u1ebfn \u0111\u1ec9nh.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.fiahub.com\/blog\/phan-tich-du-lieu-on-chain-bitcoin-tuan-02-2025\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ph\u00e2n t\u00edch d\u1eef li\u1ec7u on-chain Bitcoin tu\u1ea7n 02\/2025 - Fiahub\" \/>\n<meta property=\"og:description\" content=\"Trong c\u00e1c ch\u1ec9 b\u00e1o on-chain Bitcoin k\u1ec3 tr\u00ean, m\u00f4 h\u00ecnh Block Subsidy l\u00e0 m\u00f4 h\u00ecnh bi quan nh\u1ea5t, cho th\u1ea5y Bitcoin c\u00f3 th\u1ec3 \u0111\u00e3 \u0111\u1ea1t \u0111\u1ebfn \u0111\u1ec9nh.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.fiahub.com\/blog\/phan-tich-du-lieu-on-chain-bitcoin-tuan-02-2025\/\" \/>\n<meta property=\"og:site_name\" content=\"Fiahub Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/FiahubVN\/\" \/>\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/linhbuicycling\" \/>\n<meta property=\"article:published_time\" content=\"2025-01-13T02:31:57+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-04-14T13:39:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/01\/01-13-07-builink-on-chain-bitcoin-02-2025.png\" \/>\n\t<meta property=\"og:image:width\" content=\"2200\" \/>\n\t<meta property=\"og:image:height\" content=\"1320\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Linh Bui\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@0xbuilink\" \/>\n<meta name=\"twitter:site\" content=\"@FIAHUBVN\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Linh Bui\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"9 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.fiahub.com\\\/blog\\\/phan-tich-du-lieu-on-chain-bitcoin-tuan-02-2025\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.fiahub.com\\\/blog\\\/phan-tich-du-lieu-on-chain-bitcoin-tuan-02-2025\\\/\"},\"author\":{\"name\":\"Linh Bui\",\"@id\":\"https:\\\/\\\/www.fiahub.com\\\/blog\\\/#\\\/schema\\\/person\\\/92f3543cf3a7888801f30fc1415d887c\"},\"headline\":\"Ph\u00e2n t\u00edch d\u1eef li\u1ec7u on-chain Bitcoin tu\u1ea7n 02\\\/2025 &#8211; Fiahub\",\"datePublished\":\"2025-01-13T02:31:57+00:00\",\"dateModified\":\"2025-04-14T13:39:46+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.fiahub.com\\\/blog\\\/phan-tich-du-lieu-on-chain-bitcoin-tuan-02-2025\\\/\"},\"wordCount\":1800,\"publisher\":{\"@id\":\"https:\\\/\\\/www.fiahub.com\\\/blog\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.fiahub.com\\\/blog\\\/phan-tich-du-lieu-on-chain-bitcoin-tuan-02-2025\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.fiahub.com\\\/blog\\\/wp-content\\\/uploads\\\/2025\\\/01\\\/01-13-07-builink-on-chain-bitcoin-02-2025.png\",\"keywords\":[\"bitcoin\",\"btc\",\"On-chain\"],\"articleSection\":[\"Nh\u1eadn \u0111\u1ecbnh th\u1ecb tr\u01b0\u1eddng\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.fiahub.com\\\/blog\\\/phan-tich-du-lieu-on-chain-bitcoin-tuan-02-2025\\\/\",\"url\":\"https:\\\/\\\/www.fiahub.com\\\/blog\\\/phan-tich-du-lieu-on-chain-bitcoin-tuan-02-2025\\\/\",\"name\":\"Ph\u00e2n t\u00edch d\u1eef li\u1ec7u on-chain Bitcoin tu\u1ea7n 02\\\/2025 - Fiahub - Fiahub\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.fiahub.com\\\/blog\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.fiahub.com\\\/blog\\\/phan-tich-du-lieu-on-chain-bitcoin-tuan-02-2025\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.fiahub.com\\\/blog\\\/phan-tich-du-lieu-on-chain-bitcoin-tuan-02-2025\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.fiahub.com\\\/blog\\\/wp-content\\\/uploads\\\/2025\\\/01\\\/01-13-07-builink-on-chain-bitcoin-02-2025.png\",\"datePublished\":\"2025-01-13T02:31:57+00:00\",\"dateModified\":\"2025-04-14T13:39:46+00:00\",\"description\":\"Trong c\u00e1c ch\u1ec9 b\u00e1o on-chain Bitcoin k\u1ec3 tr\u00ean, m\u00f4 h\u00ecnh Block Subsidy l\u00e0 m\u00f4 h\u00ecnh bi quan nh\u1ea5t, cho th\u1ea5y Bitcoin c\u00f3 th\u1ec3 \u0111\u00e3 \u0111\u1ea1t \u0111\u1ebfn \u0111\u1ec9nh.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.fiahub.com\\\/blog\\\/phan-tich-du-lieu-on-chain-bitcoin-tuan-02-2025\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.fiahub.com\\\/blog\\\/phan-tich-du-lieu-on-chain-bitcoin-tuan-02-2025\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.fiahub.com\\\/blog\\\/phan-tich-du-lieu-on-chain-bitcoin-tuan-02-2025\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.fiahub.com\\\/blog\\\/wp-content\\\/uploads\\\/2025\\\/01\\\/01-13-07-builink-on-chain-bitcoin-02-2025.png\",\"contentUrl\":\"https:\\\/\\\/www.fiahub.com\\\/blog\\\/wp-content\\\/uploads\\\/2025\\\/01\\\/01-13-07-builink-on-chain-bitcoin-02-2025.png\",\"width\":2200,\"height\":1320,\"caption\":\"Ph\u00e2n t\u00edch d\u1eef li\u1ec7u on-chain Bitcoin tu\u1ea7n 02\\\/2025: M\u1ed9t s\u1ed1 ch\u1ec9 b\u00e1o cho th\u1ea5y chu k\u1ef3 Bitcoin k\u1ebft th\u00fac\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.fiahub.com\\\/blog\\\/phan-tich-du-lieu-on-chain-bitcoin-tuan-02-2025\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.fiahub.com\\\/blog\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Ph\u00e2n t\u00edch d\u1eef li\u1ec7u on-chain Bitcoin tu\u1ea7n 02\\\/2025 &#8211; Fiahub\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.fiahub.com\\\/blog\\\/#website\",\"url\":\"https:\\\/\\\/www.fiahub.com\\\/blog\\\/\",\"name\":\"Fiahub Blog\",\"description\":\"Fiahub Blog\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.fiahub.com\\\/blog\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.fiahub.com\\\/blog\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/www.fiahub.com\\\/blog\\\/#organization\",\"name\":\"DIGITEX Pte Ltd\",\"url\":\"https:\\\/\\\/www.fiahub.com\\\/blog\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.fiahub.com\\\/blog\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/www.fiahub.com\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/2018-05-2723.41.06.jpg\",\"contentUrl\":\"https:\\\/\\\/www.fiahub.com\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/2018-05-2723.41.06.jpg\",\"width\":956,\"height\":500,\"caption\":\"DIGITEX Pte Ltd\"},\"image\":{\"@id\":\"https:\\\/\\\/www.fiahub.com\\\/blog\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/FiahubVN\\\/\",\"https:\\\/\\\/x.com\\\/FIAHUBVN\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.fiahub.com\\\/blog\\\/#\\\/schema\\\/person\\\/92f3543cf3a7888801f30fc1415d887c\",\"name\":\"Linh Bui\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.fiahub.com\\\/blog\\\/wp-content\\\/uploads\\\/2024\\\/09\\\/bui-linh-avatar.png\",\"url\":\"https:\\\/\\\/www.fiahub.com\\\/blog\\\/wp-content\\\/uploads\\\/2024\\\/09\\\/bui-linh-avatar.png\",\"contentUrl\":\"https:\\\/\\\/www.fiahub.com\\\/blog\\\/wp-content\\\/uploads\\\/2024\\\/09\\\/bui-linh-avatar.png\",\"caption\":\"Linh Bui\"},\"description\":\"Linh B\u00f9i l\u00e0 m\u1ed9t nh\u00e0 s\u00e1ng t\u1ea1o n\u1ed9i dung, chuy\u00ean gia nghi\u00ean c\u1ee9u trong l\u0129nh v\u1ef1c t\u00e0i ch\u00ednh n\u00f3i chung v\u00e0 ti\u1ec1n \u0111i\u1ec7n t\u1eed n\u00f3i ri\u00eang. V\u1edbi mong mu\u1ed1n chia s\u1ebb c\u00e1c tuy\u1ebfn b\u00e0i vi\u1ebft chuy\u00ean v\u1ec1 ki\u1ebfn th\u1ee9c, c\u1eadp nh\u1eadt tin t\u1ee9c v\u1ec1 th\u1ecb tr\u01b0\u1eddng t\u00e0i ch\u00ednh t\u1ea1i Vi\u1ec7t Nam v\u00e0 tr\u00ean to\u00e0n c\u1ea7u, Linh B\u00f9i \u0111\u00e3 v\u00e0 \u0111ang tham gia v\u1edbi vai tr\u00f2 bi\u00ean t\u1eadp vi\u00ean\\\/ng\u01b0\u1eddi s\u00e1ng t\u1ea1o n\u1ed9i dung t\u1ea1i m\u1ed9t s\u1ed1 n\u1ec1n t\u1ea3ng, s\u00e0n giao d\u1ecbch nh\u01b0 Fiahub, BeInCrypto, Mitrade, Finixio, Dr.Localize\u2026 Trong m\u1ed7i b\u00e0i vi\u1ebft c\u1ee7a m\u00ecnh, Linh B\u00f9i \u0111\u1ec1u mong mu\u1ed1n \u0111\u01a1n gi\u1ea3n h\u00f3a c\u00e1c kh\u00e1i ni\u1ec7m t\u00e0i ch\u00ednh li\u00ean quan, gi\u1ea3m thi\u1ec3u r\u00e0o c\u1ea3n gia nh\u1eadp cho \u0111\u1ed9c gi\u1ea3, \u0111\u1eb7c bi\u1ec7t l\u00e0 nh\u1eefng ng\u01b0\u1eddi m\u1edbi tham gia.\",\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/linhbuicycling\",\"https:\\\/\\\/x.com\\\/0xbuilink\"],\"url\":\"https:\\\/\\\/www.fiahub.com\\\/blog\\\/author\\\/linh-bui\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Ph\u00e2n t\u00edch d\u1eef li\u1ec7u on-chain Bitcoin tu\u1ea7n 02\/2025 - Fiahub - Fiahub","description":"Trong c\u00e1c ch\u1ec9 b\u00e1o on-chain Bitcoin k\u1ec3 tr\u00ean, m\u00f4 h\u00ecnh Block Subsidy l\u00e0 m\u00f4 h\u00ecnh bi quan nh\u1ea5t, cho th\u1ea5y Bitcoin c\u00f3 th\u1ec3 \u0111\u00e3 \u0111\u1ea1t \u0111\u1ebfn \u0111\u1ec9nh.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.fiahub.com\/blog\/phan-tich-du-lieu-on-chain-bitcoin-tuan-02-2025\/","og_locale":"en_US","og_type":"article","og_title":"Ph\u00e2n t\u00edch d\u1eef li\u1ec7u on-chain Bitcoin tu\u1ea7n 02\/2025 - Fiahub","og_description":"Trong c\u00e1c ch\u1ec9 b\u00e1o on-chain Bitcoin k\u1ec3 tr\u00ean, m\u00f4 h\u00ecnh Block Subsidy l\u00e0 m\u00f4 h\u00ecnh bi quan nh\u1ea5t, cho th\u1ea5y Bitcoin c\u00f3 th\u1ec3 \u0111\u00e3 \u0111\u1ea1t \u0111\u1ebfn \u0111\u1ec9nh.","og_url":"https:\/\/www.fiahub.com\/blog\/phan-tich-du-lieu-on-chain-bitcoin-tuan-02-2025\/","og_site_name":"Fiahub Blog","article_publisher":"https:\/\/www.facebook.com\/FiahubVN\/","article_author":"https:\/\/www.facebook.com\/linhbuicycling","article_published_time":"2025-01-13T02:31:57+00:00","article_modified_time":"2025-04-14T13:39:46+00:00","og_image":[{"width":2200,"height":1320,"url":"https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/01\/01-13-07-builink-on-chain-bitcoin-02-2025.png","type":"image\/png"}],"author":"Linh Bui","twitter_card":"summary_large_image","twitter_creator":"@0xbuilink","twitter_site":"@FIAHUBVN","twitter_misc":{"Written by":"Linh Bui","Est. reading time":"9 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.fiahub.com\/blog\/phan-tich-du-lieu-on-chain-bitcoin-tuan-02-2025\/#article","isPartOf":{"@id":"https:\/\/www.fiahub.com\/blog\/phan-tich-du-lieu-on-chain-bitcoin-tuan-02-2025\/"},"author":{"name":"Linh Bui","@id":"https:\/\/www.fiahub.com\/blog\/#\/schema\/person\/92f3543cf3a7888801f30fc1415d887c"},"headline":"Ph\u00e2n t\u00edch d\u1eef li\u1ec7u on-chain Bitcoin tu\u1ea7n 02\/2025 &#8211; Fiahub","datePublished":"2025-01-13T02:31:57+00:00","dateModified":"2025-04-14T13:39:46+00:00","mainEntityOfPage":{"@id":"https:\/\/www.fiahub.com\/blog\/phan-tich-du-lieu-on-chain-bitcoin-tuan-02-2025\/"},"wordCount":1800,"publisher":{"@id":"https:\/\/www.fiahub.com\/blog\/#organization"},"image":{"@id":"https:\/\/www.fiahub.com\/blog\/phan-tich-du-lieu-on-chain-bitcoin-tuan-02-2025\/#primaryimage"},"thumbnailUrl":"https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/01\/01-13-07-builink-on-chain-bitcoin-02-2025.png","keywords":["bitcoin","btc","On-chain"],"articleSection":["Nh\u1eadn \u0111\u1ecbnh th\u1ecb tr\u01b0\u1eddng"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.fiahub.com\/blog\/phan-tich-du-lieu-on-chain-bitcoin-tuan-02-2025\/","url":"https:\/\/www.fiahub.com\/blog\/phan-tich-du-lieu-on-chain-bitcoin-tuan-02-2025\/","name":"Ph\u00e2n t\u00edch d\u1eef li\u1ec7u on-chain Bitcoin tu\u1ea7n 02\/2025 - Fiahub - Fiahub","isPartOf":{"@id":"https:\/\/www.fiahub.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.fiahub.com\/blog\/phan-tich-du-lieu-on-chain-bitcoin-tuan-02-2025\/#primaryimage"},"image":{"@id":"https:\/\/www.fiahub.com\/blog\/phan-tich-du-lieu-on-chain-bitcoin-tuan-02-2025\/#primaryimage"},"thumbnailUrl":"https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/01\/01-13-07-builink-on-chain-bitcoin-02-2025.png","datePublished":"2025-01-13T02:31:57+00:00","dateModified":"2025-04-14T13:39:46+00:00","description":"Trong c\u00e1c ch\u1ec9 b\u00e1o on-chain Bitcoin k\u1ec3 tr\u00ean, m\u00f4 h\u00ecnh Block Subsidy l\u00e0 m\u00f4 h\u00ecnh bi quan nh\u1ea5t, cho th\u1ea5y Bitcoin c\u00f3 th\u1ec3 \u0111\u00e3 \u0111\u1ea1t \u0111\u1ebfn \u0111\u1ec9nh.","breadcrumb":{"@id":"https:\/\/www.fiahub.com\/blog\/phan-tich-du-lieu-on-chain-bitcoin-tuan-02-2025\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.fiahub.com\/blog\/phan-tich-du-lieu-on-chain-bitcoin-tuan-02-2025\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.fiahub.com\/blog\/phan-tich-du-lieu-on-chain-bitcoin-tuan-02-2025\/#primaryimage","url":"https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/01\/01-13-07-builink-on-chain-bitcoin-02-2025.png","contentUrl":"https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2025\/01\/01-13-07-builink-on-chain-bitcoin-02-2025.png","width":2200,"height":1320,"caption":"Ph\u00e2n t\u00edch d\u1eef li\u1ec7u on-chain Bitcoin tu\u1ea7n 02\/2025: M\u1ed9t s\u1ed1 ch\u1ec9 b\u00e1o cho th\u1ea5y chu k\u1ef3 Bitcoin k\u1ebft th\u00fac"},{"@type":"BreadcrumbList","@id":"https:\/\/www.fiahub.com\/blog\/phan-tich-du-lieu-on-chain-bitcoin-tuan-02-2025\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.fiahub.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Ph\u00e2n t\u00edch d\u1eef li\u1ec7u on-chain Bitcoin tu\u1ea7n 02\/2025 &#8211; Fiahub"}]},{"@type":"WebSite","@id":"https:\/\/www.fiahub.com\/blog\/#website","url":"https:\/\/www.fiahub.com\/blog\/","name":"Fiahub Blog","description":"Fiahub Blog","publisher":{"@id":"https:\/\/www.fiahub.com\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.fiahub.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.fiahub.com\/blog\/#organization","name":"DIGITEX Pte Ltd","url":"https:\/\/www.fiahub.com\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.fiahub.com\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2019\/08\/2018-05-2723.41.06.jpg","contentUrl":"https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2019\/08\/2018-05-2723.41.06.jpg","width":956,"height":500,"caption":"DIGITEX Pte Ltd"},"image":{"@id":"https:\/\/www.fiahub.com\/blog\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/FiahubVN\/","https:\/\/x.com\/FIAHUBVN"]},{"@type":"Person","@id":"https:\/\/www.fiahub.com\/blog\/#\/schema\/person\/92f3543cf3a7888801f30fc1415d887c","name":"Linh Bui","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2024\/09\/bui-linh-avatar.png","url":"https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2024\/09\/bui-linh-avatar.png","contentUrl":"https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2024\/09\/bui-linh-avatar.png","caption":"Linh Bui"},"description":"Linh B\u00f9i l\u00e0 m\u1ed9t nh\u00e0 s\u00e1ng t\u1ea1o n\u1ed9i dung, chuy\u00ean gia nghi\u00ean c\u1ee9u trong l\u0129nh v\u1ef1c t\u00e0i ch\u00ednh n\u00f3i chung v\u00e0 ti\u1ec1n \u0111i\u1ec7n t\u1eed n\u00f3i ri\u00eang. V\u1edbi mong mu\u1ed1n chia s\u1ebb c\u00e1c tuy\u1ebfn b\u00e0i vi\u1ebft chuy\u00ean v\u1ec1 ki\u1ebfn th\u1ee9c, c\u1eadp nh\u1eadt tin t\u1ee9c v\u1ec1 th\u1ecb tr\u01b0\u1eddng t\u00e0i ch\u00ednh t\u1ea1i Vi\u1ec7t Nam v\u00e0 tr\u00ean to\u00e0n c\u1ea7u, Linh B\u00f9i \u0111\u00e3 v\u00e0 \u0111ang tham gia v\u1edbi vai tr\u00f2 bi\u00ean t\u1eadp vi\u00ean\/ng\u01b0\u1eddi s\u00e1ng t\u1ea1o n\u1ed9i dung t\u1ea1i m\u1ed9t s\u1ed1 n\u1ec1n t\u1ea3ng, s\u00e0n giao d\u1ecbch nh\u01b0 Fiahub, BeInCrypto, Mitrade, Finixio, Dr.Localize\u2026 Trong m\u1ed7i b\u00e0i vi\u1ebft c\u1ee7a m\u00ecnh, Linh B\u00f9i \u0111\u1ec1u mong mu\u1ed1n \u0111\u01a1n gi\u1ea3n h\u00f3a c\u00e1c kh\u00e1i ni\u1ec7m t\u00e0i ch\u00ednh li\u00ean quan, gi\u1ea3m thi\u1ec3u r\u00e0o c\u1ea3n gia nh\u1eadp cho \u0111\u1ed9c gi\u1ea3, \u0111\u1eb7c bi\u1ec7t l\u00e0 nh\u1eefng ng\u01b0\u1eddi m\u1edbi tham gia.","sameAs":["https:\/\/www.facebook.com\/linhbuicycling","https:\/\/x.com\/0xbuilink"],"url":"https:\/\/www.fiahub.com\/blog\/author\/linh-bui\/"}]}},"_links":{"self":[{"href":"https:\/\/www.fiahub.com\/blog\/wp-json\/wp\/v2\/posts\/29180","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fiahub.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fiahub.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fiahub.com\/blog\/wp-json\/wp\/v2\/users\/23"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fiahub.com\/blog\/wp-json\/wp\/v2\/comments?post=29180"}],"version-history":[{"count":3,"href":"https:\/\/www.fiahub.com\/blog\/wp-json\/wp\/v2\/posts\/29180\/revisions"}],"predecessor-version":[{"id":31413,"href":"https:\/\/www.fiahub.com\/blog\/wp-json\/wp\/v2\/posts\/29180\/revisions\/31413"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.fiahub.com\/blog\/wp-json\/wp\/v2\/media\/29181"}],"wp:attachment":[{"href":"https:\/\/www.fiahub.com\/blog\/wp-json\/wp\/v2\/media?parent=29180"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fiahub.com\/blog\/wp-json\/wp\/v2\/categories?post=29180"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fiahub.com\/blog\/wp-json\/wp\/v2\/tags?post=29180"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}