{"id":34546,"date":"2026-01-12T13:45:36","date_gmt":"2026-01-12T06:45:36","guid":{"rendered":"https:\/\/www.fiahub.com\/blog\/?p=34546"},"modified":"2026-01-12T13:45:36","modified_gmt":"2026-01-12T06:45:36","slug":"phan-tich-du-lieu-on-chain-bitcoin-tuan-02-2026","status":"publish","type":"post","link":"https:\/\/www.fiahub.com\/blog\/phan-tich-du-lieu-on-chain-bitcoin-tuan-02-2026\/","title":{"rendered":"Ph\u00e2n t\u00edch d\u1eef li\u1ec7u on-chain Bitcoin tu\u1ea7n 02\/2026: Bitcoin \u0111ang \u0111i v\u00e0o giai \u0111o\u1ea1n \u201ccooling-off\u201d"},"content":{"rendered":"<p><i><span style=\"font-weight: 400\">D\u1eef li\u1ec7u c\u1eadp nh\u1eadt t\u1eeb ng\u00e0y 05\/12 &#8211; 11\/01.<\/span><\/i><\/p>\n<ul>\n<li><strong>Xem th\u00eam<\/strong>: <a class=\"row-title\" href=\"https:\/\/www.fiahub.com\/blog\/phan-tich-du-lieu-on-chain-bitcoin-tuan-01-2026\/\" target=\"_blank\" rel=\"noopener\" aria-label=\"\u201cPh\u00e2n t\u00edch d\u1eef li\u1ec7u on-chain Bitcoin tu\u1ea7n 01\/2026: C\u00e1 voi b\u00e1n ra, t\u00edch l\u0169y suy y\u1ebfu: R\u1ee7i ro n\u00e0o \u0111ang ch\u1edd Bitcoin?\u201d (Edit)\">Ph\u00e2n t\u00edch d\u1eef li\u1ec7u on-chain Bitcoin tu\u1ea7n 01\/2026: C\u00e1 voi b\u00e1n ra, t\u00edch l\u0169y suy y\u1ebfu: R\u1ee7i ro n\u00e0o \u0111ang ch\u1edd Bitcoin?<\/a><\/li>\n<\/ul>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_79_2 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-02-2026\/#Open_Interest_BTC_tren_Binance_giam_ca_voi_bat_dau_co_dong_thai\" >Open Interest BTC tr\u00ean Binance gi\u1ea3m, c\u00e1 voi b\u1eaft \u0111\u1ea7u c\u00f3 \u0111\u1ed9ng th\u00e1i<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.fiahub.com\/blog\/phan-tich-du-lieu-on-chain-bitcoin-tuan-02-2026\/#Binance_%E2%80%93_Bien_dong_gia_BTC_Open_Interest_thay_doi_24h7_ngay\" >Binance &#8211; Bi\u1ebfn \u0111\u1ed9ng gi\u00e1 BTC &amp; Open Interest (% thay \u0111\u1ed5i 24h\/7 ng\u00e0y)<\/a><\/li><li class='ez-toc-page-1 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-02-2026\/#BTC_%E2%80%93_Binance_Cumulative_Net_Taker_VolumeOI_24h\" >BTC &#8211; Binance Cumulative Net Taker Volume\/OI (24h)<\/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-02-2026\/#BTC_%E2%80%93_Dong_tien_ca_voi_nap_len_Binance\" >BTC &#8211; D\u00f2ng ti\u1ec1n c\u00e1 voi n\u1ea1p l\u00ean Binance<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.fiahub.com\/blog\/phan-tich-du-lieu-on-chain-bitcoin-tuan-02-2026\/#Thi_truong_gau_ngay_nay_chu_yeu_la_cac_nhip_dieu_chinh_manh_khong_con_la_suy_thoai_keo_dai\" >Th\u1ecb tr\u01b0\u1eddng g\u1ea5u ng\u00e0y nay ch\u1ee7 y\u1ebfu l\u00e0 c\u00e1c nh\u1ecbp \u0111i\u1ec1u ch\u1ec9nh m\u1ea1nh, kh\u00f4ng c\u00f2n l\u00e0 suy tho\u00e1i k\u00e9o d\u00e0i<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.fiahub.com\/blog\/phan-tich-du-lieu-on-chain-bitcoin-tuan-02-2026\/#Puell_chua_xac_nhan_dinh_chu_ky\" >Puell ch\u01b0a x\u00e1c nh\u1eadn \u0111\u1ec9nh chu k\u1ef3<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.fiahub.com\/blog\/phan-tich-du-lieu-on-chain-bitcoin-tuan-02-2026\/#Ket_hop_Puell_voi_NUPL_Tam_ly_chua_hung_phan\" >K\u1ebft h\u1ee3p Puell v\u1edbi NUPL: T\u00e2m l\u00fd ch\u01b0a h\u01b0ng ph\u1ea5n<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.fiahub.com\/blog\/phan-tich-du-lieu-on-chain-bitcoin-tuan-02-2026\/#MVRV_van_chua_vao_vung_qua_nong\" >MVRV v\u1eabn ch\u01b0a v\u00e0o v\u00f9ng qu\u00e1 n\u00f3ng<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.fiahub.com\/blog\/phan-tich-du-lieu-on-chain-bitcoin-tuan-02-2026\/#Bitcoin_giu_vung_quanh_moc_90000_USD_khi_khoi_luong_giao_dich_tren_Binance_phat_tin_hieu_ha_nhiet\" >Bitcoin gi\u1eef v\u1eefng quanh m\u1ed1c 90.000 USD khi kh\u1ed1i l\u01b0\u1ee3ng giao d\u1ecbch tr\u00ean Binance ph\u00e1t t\u00edn hi\u1ec7u h\u1ea1 nhi\u1ec7t<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.fiahub.com\/blog\/phan-tich-du-lieu-on-chain-bitcoin-tuan-02-2026\/#Khoi_luong_suy_yeu_nhung_co_dau_hieu_cham_lai\" >Kh\u1ed1i l\u01b0\u1ee3ng suy y\u1ebfu nh\u01b0ng c\u00f3 d\u1ea5u hi\u1ec7u ch\u1eadm l\u1ea1i<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/www.fiahub.com\/blog\/phan-tich-du-lieu-on-chain-bitcoin-tuan-02-2026\/#Gia_giu_cao_du_thanh_khoan_suy_giam\" >Gi\u00e1 gi\u1eef cao d\u00f9 thanh kho\u1ea3n suy gi\u1ea3m<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/www.fiahub.com\/blog\/phan-tich-du-lieu-on-chain-bitcoin-tuan-02-2026\/#Thi_truong_buoc_vao_pha_%E2%80%9Ccooling-off%E2%80%9D\" >Th\u1ecb tr\u01b0\u1eddng b\u01b0\u1edbc v\u00e0o pha \u201ccooling-off\u201d<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/www.fiahub.com\/blog\/phan-tich-du-lieu-on-chain-bitcoin-tuan-02-2026\/#Hoat_dong_chi_tieu_cua_Long-Term_Holder_Bitcoin_phat_tin_hieu_chuyen_pha_cuoi_chu_ky\" >Ho\u1ea1t \u0111\u1ed9ng chi ti\u00eau c\u1ee7a Long-Term Holder Bitcoin ph\u00e1t t\u00edn hi\u1ec7u chuy\u1ec3n pha cu\u1ed1i chu k\u1ef3<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/www.fiahub.com\/blog\/phan-tich-du-lieu-on-chain-bitcoin-tuan-02-2026\/#Diem_khac_biet_quan_trong_cua_chu_ky_hien_tai\" >\u0110i\u1ec3m kh\u00e1c bi\u1ec7t quan tr\u1ecdng c\u1ee7a chu k\u1ef3 hi\u1ec7n t\u1ea1i<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/www.fiahub.com\/blog\/phan-tich-du-lieu-on-chain-bitcoin-tuan-02-2026\/#Goc_nhin_chu_ky_Dau_hieu_moi_truong_cuoi_chu_ky\" >G\u00f3c nh\u00ecn chu k\u1ef3: D\u1ea5u hi\u1ec7u m\u00f4i tr\u01b0\u1eddng cu\u1ed1i chu k\u1ef3<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/www.fiahub.com\/blog\/phan-tich-du-lieu-on-chain-bitcoin-tuan-02-2026\/#Yeu_to_quyet_dinh_trong_ngan_han\" >Y\u1ebfu t\u1ed1 quy\u1ebft \u0111\u1ecbnh trong ng\u1eafn h\u1ea1n<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/www.fiahub.com\/blog\/phan-tich-du-lieu-on-chain-bitcoin-tuan-02-2026\/#Ket_luan_chung\" >K\u1ebft lu\u1eadn chung<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Open_Interest_BTC_tren_Binance_giam_ca_voi_bat_dau_co_dong_thai\"><\/span><b>Open Interest BTC tr\u00ean Binance gi\u1ea3m, c\u00e1 voi b\u1eaft \u0111\u1ea7u c\u00f3 \u0111\u1ed9ng th\u00e1i<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400\">Th\u1ecb tr\u01b0\u1eddng ph\u00e1i sinh <a href=\"https:\/\/www.fiahub.com\/blog\/bitcoin-la-gi-tong-quan-ve-dong-tien-dien-tu-dau-tien\/\" target=\"_blank\" rel=\"noopener\">Bitcoin<\/a> (BTC) tr\u00ean Binance \u0111ang c\u00f3 d\u1ea5u hi\u1ec7u ch\u1eefng l\u1ea1i. Sau kh\u1edfi \u0111\u1ea7u kh\u00e1 t\u00edch c\u1ef1c trong nh\u1eefng ng\u00e0y \u0111\u1ea7u th\u00e1ng 1, \u0111\u00e2y l\u00e0 l\u1ea7n \u0111\u1ea7u ti\u00ean Open Interest (OI) gi\u1ea3m, \u0111\u1ed3ng th\u1eddi \u0111i k\u00e8m v\u1edbi s\u1ef1 suy y\u1ebfu c\u1ee7a ch\u1ec9 b\u00e1o on-chain Bitcoin Cumulative Volume Delta (CVD).<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Binance_%E2%80%93_Bien_dong_gia_BTC_Open_Interest_thay_doi_24h7_ngay\"><\/span><b>Binance &#8211; Bi\u1ebfn \u0111\u1ed9ng gi\u00e1 BTC &amp; Open Interest (% thay \u0111\u1ed5i 24h\/7 ng\u00e0y)<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400\">D\u1eef li\u1ec7u cho th\u1ea5y s\u1ef1 co h\u1eb9p \u0111\u1ea7u ti\u00ean c\u1ee7a OI tr\u00ean th\u1ecb tr\u01b0\u1eddng ph\u00e1i sinh BTC trong v\u00f2ng m\u1ed9t tu\u1ea7n qua. Theo \u0111\u00f3, OI 7 ng\u00e0y (\u0111\u01b0\u1eddng m\u00e0u cam) gi\u1ea3m 11%, t\u1eeb +9% (ng\u00e0y 8\/1) xu\u1ed1ng c\u00f2n -2% (ng\u00e0y 11\/1).<\/span><\/p>\n<p><span style=\"font-weight: 400\">M\u1ed9t trong nh\u1eefng l\u00fd gi\u1ea3i cho \u0111\u1ed9ng th\u00e1i n\u00e0y l\u00e0 vi\u1ec7c c\u00e1c trader \u0111ang \u0111\u00f3ng v\u1ecb th\u1ebf, nhi\u1ec1u kh\u1ea3 n\u0103ng l\u00e0 c\u00e1c v\u1ecb th\u1ebf long. Ho\u1ea1t \u0111\u1ed9ng n\u00e0y c\u00f3 th\u1ec3 \u0111\u1ebfn t\u1eeb vi\u1ec7c tho\u00e1t l\u1ec7nh ch\u1ee7 \u0111\u1ed9ng ho\u1eb7c c\u00e1c \u0111\u1ee3t thanh l\u00fd nh\u1eb9. Tuy nhi\u00ean, \u0111i\u1ec1u \u0111\u00e1ng ch\u00fa \u00fd m\u00e0 Fiahub mu\u1ed1n \u0111\u1ec1 c\u1eadp \u1edf \u0111\u00e2y l\u00e0 gi\u00e1 BTC kh\u00f4ng gi\u1ea3m m\u1ea1nh, nh\u01b0ng OI v\u1eabn suy gi\u1ea3m. N\u00f3 cho th\u1ea5y trader \u0111ang gi\u1ea3m m\u1ee9c \u0111\u1ed9 tham gia, d\u00f9 l\u00e0 b\u1ecb bu\u1ed9c ph\u1ea3i r\u00fat lui hay ch\u1ee7 \u0111\u1ed9ng \u0111\u1ee9ng ngo\u00e0i quan s\u00e1t.<\/span><\/p>\n<figure id=\"attachment_34547\" aria-describedby=\"caption-attachment-34547\" style=\"width: 1280px\" class=\"wp-caption aligncenter\"><img fetchpriority=\"high\" decoding=\"async\" class=\"size-full wp-image-34547\" src=\"https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-01-builink-bitcoin-oi.png\" alt=\"Bi\u1ebfn \u0111\u1ed9ng gi\u00e1 BTC &amp; Open Interest (% thay \u0111\u1ed5i 24h\/7 ng\u00e0y)\" width=\"1280\" height=\"720\" srcset=\"https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-01-builink-bitcoin-oi.png 1280w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-01-builink-bitcoin-oi-300x169.png 300w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-01-builink-bitcoin-oi-1024x576.png 1024w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-01-builink-bitcoin-oi-150x84.png 150w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-01-builink-bitcoin-oi-768x432.png 768w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-01-builink-bitcoin-oi-450x253.png 450w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-01-builink-bitcoin-oi-1200x675.png 1200w\" sizes=\"(max-width: 1280px) 100vw, 1280px\" \/><figcaption id=\"caption-attachment-34547\" class=\"wp-caption-text\">Bi\u1ebfn \u0111\u1ed9ng gi\u00e1 BTC &amp; Open Interest (% thay \u0111\u1ed5i 24h\/7 ng\u00e0y)<\/figcaption><\/figure>\n<h3><span class=\"ez-toc-section\" id=\"BTC_%E2%80%93_Binance_Cumulative_Net_Taker_VolumeOI_24h\"><\/span><b>BTC &#8211; Binance Cumulative Net Taker Volume\/OI (24h)<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400\">Cumulative Volume Delta (CVD) \u0111o l\u01b0\u1eddng ch\u00eanh l\u1ec7ch r\u00f2ng gi\u1eefa: Kh\u1ed1i l\u01b0\u1ee3ng mua ch\u1ee7 \u0111\u1ed9ng (taker buy) v\u00e0 kh\u1ed1i l\u01b0\u1ee3ng b\u00e1n ch\u1ee7 \u0111\u1ed9ng (taker sell). Ch\u1ec9 b\u00e1o on-chain Bitcoin n\u00e0y gi\u00fap x\u00e1c \u0111\u1ecbnh phe n\u00e0o \u0111ang ki\u1ec3m so\u00e1t th\u1ecb tr\u01b0\u1eddng: ng\u01b0\u1eddi mua hay ng\u01b0\u1eddi b\u00e1n.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Quan s\u00e1t t\u00edn hi\u1ec7u hi\u1ec7n t\u1ea1i, Fiahub nh\u1eadn th\u1ea5y <\/span><span style=\"font-weight: 400\">CVD gi\u1ea3m li\u00ean t\u1ee5c k\u1ec3 t\u1eeb ng\u00e0y 8\/1, x\u00e1c nh\u1eadn \u00e1p l\u1ef1c b\u00e1n \u0111ang gia t\u0103ng. \u0110\u00e0 gi\u1ea3m c\u1ee7a CVD di\u1ec5n ra \u0111\u1ed3ng th\u1eddi v\u1edbi s\u1ef1 co h\u1eb9p c\u1ee7a OI, l\u00e0m cho t\u00edn hi\u1ec7u tr\u1edf n\u00ean \u0111\u00e1ng tin c\u1eady h\u01a1n. \u0110i\u1ec1u n\u00e0y cho th\u1ea5y c\u00e1c v\u1ecb th\u1ebf long \u0111ang b\u1ecb \u0111\u00f3ng d\u1ea7n, th\u00f4ng qua ch\u1ed1t l\u1eddi ho\u1eb7c thanh l\u00fd.<\/span><\/p>\n<figure id=\"attachment_34548\" aria-describedby=\"caption-attachment-34548\" style=\"width: 1280px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" class=\"size-full wp-image-34548\" src=\"https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-02-builink-binance-taker-volume.png\" alt=\"Binance Cumulative Net Taker Volume\/OI (24h)\" width=\"1280\" height=\"720\" srcset=\"https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-02-builink-binance-taker-volume.png 1280w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-02-builink-binance-taker-volume-300x169.png 300w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-02-builink-binance-taker-volume-1024x576.png 1024w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-02-builink-binance-taker-volume-150x84.png 150w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-02-builink-binance-taker-volume-768x432.png 768w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-02-builink-binance-taker-volume-450x253.png 450w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-02-builink-binance-taker-volume-1200x675.png 1200w\" sizes=\"(max-width: 1280px) 100vw, 1280px\" \/><figcaption id=\"caption-attachment-34548\" class=\"wp-caption-text\">Binance Cumulative Net Taker Volume\/OI (24h)<\/figcaption><\/figure>\n<h3><span class=\"ez-toc-section\" id=\"BTC_%E2%80%93_Dong_tien_ca_voi_nap_len_Binance\"><\/span><b>BTC &#8211; D\u00f2ng ti\u1ec1n c\u00e1 voi n\u1ea1p l\u00ean Binance<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400\">Bi\u1ec3u \u0111\u1ed3 th\u1ee9 ba theo d\u00f5i d\u00f2ng ti\u1ec1n c\u00e1 voi n\u1ea1p BTC l\u00ean Binance, s\u1eed d\u1ee5ng t\u1ed5ng l\u0169y k\u1ebf 30 ng\u00e0y. Theo d\u1eef li\u1ec7u on-chain Bitcoin n\u00e0y, d\u00f2ng ti\u1ec1n c\u00e1 voi t\u0103ng nh\u1eb9 t\u1eeb 3,0 t\u1ef7 USD l\u00ean 3,6 t\u1ef7 USD. \u0110\u00e2y l\u00e0 d\u1ea5u hi\u1ec7u ban \u0111\u1ea7u c\u1ee7a h\u00e0nh vi ph\u00e2n ph\u1ed1i.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">M\u1ed9t m\u00f4 h\u00ecnh t\u01b0\u01a1ng t\u1ef1 t\u1eebng xu\u1ea5t hi\u1ec7n v\u00e0o ng\u00e0y 6\/10, khi d\u00f2ng ti\u1ec1n t\u0103ng t\u1eeb 3,2 t\u1ef7 USD l\u00ean 3,7 t\u1ef7 USD. Trong l\u1ecbch s\u1eed, nh\u1eefng nh\u1ecbp gia t\u0103ng d\u00f2ng ti\u1ec1n ki\u1ec3u n\u00e0y th\u01b0\u1eddng xu\u1ea5t hi\u1ec7n tr\u01b0\u1edbc c\u00e1c pha ch\u1ed1t l\u1eddi ng\u1eafn h\u1ea1n.<\/span><\/p>\n<p><span style=\"font-weight: 400\">T\u00f3m l\u1ea1i, d\u00f9 quy m\u00f4 bi\u1ebfn \u0111\u1ed9ng hi\u1ec7n t\u1ea1i ch\u01b0a mang t\u00ednh quy\u1ebft \u0111\u1ecbnh, nh\u01b0ng vi\u1ec7c OI gi\u1ea3m + CVD suy y\u1ebfu cho th\u1ea5y \u0111\u1ed9ng l\u1ef1c t\u0103ng \u0111ang ch\u1eadm l\u1ea1i. D\u00f2ng ti\u1ec1n c\u00e1 voi nh\u00edch l\u00ean l\u00e0 t\u00edn hi\u1ec7u c\u1ea7n theo d\u00f5i s\u00e1t. \u1ede giai \u0111o\u1ea1n n\u00e0y, th\u1ecb tr\u01b0\u1eddng ch\u01b0a b\u01b0\u1edbc v\u00e0o ph\u00e2n ph\u1ed1i m\u1ea1nh, nh\u01b0ng r\u1ee7i ro \u0111i\u1ec1u ch\u1ec9nh ng\u1eafn h\u1ea1n \u0111ang d\u1ea7n h\u00ecnh th\u00e0nh. Vi\u1ec7c quan s\u00e1t ph\u1ea3n \u1ee9ng gi\u00e1 trong c\u00e1c phi\u00ean t\u1edbi s\u1ebd r\u1ea5t quan tr\u1ecdng \u0111\u1ec3 x\u00e1c nh\u1eadn li\u1ec7u \u0111\u00e2y ch\u1ec9 l\u00e0 nh\u1ecbp \u201cngh\u1ec9\u201d c\u1ee7a xu h\u01b0\u1edbng hay b\u01b0\u1edbc kh\u1edfi \u0111\u1ea7u cho m\u1ed9t pha \u0111i\u1ec1u ch\u1ec9nh s\u00e2u h\u01a1n.<\/span><\/p>\n<figure id=\"attachment_34549\" aria-describedby=\"caption-attachment-34549\" style=\"width: 1280px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" class=\"size-full wp-image-34549\" src=\"https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-03-builink-binance-whales.png\" alt=\"D\u00f2ng ti\u1ec1n c\u00e1 voi n\u1ea1p l\u00ean Binance\" width=\"1280\" height=\"720\" srcset=\"https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-03-builink-binance-whales.png 1280w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-03-builink-binance-whales-300x169.png 300w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-03-builink-binance-whales-1024x576.png 1024w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-03-builink-binance-whales-150x84.png 150w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-03-builink-binance-whales-768x432.png 768w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-03-builink-binance-whales-450x253.png 450w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-03-builink-binance-whales-1200x675.png 1200w\" sizes=\"(max-width: 1280px) 100vw, 1280px\" \/><figcaption id=\"caption-attachment-34549\" class=\"wp-caption-text\">D\u00f2ng ti\u1ec1n c\u00e1 voi n\u1ea1p l\u00ean Binance<\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Thi_truong_gau_ngay_nay_chu_yeu_la_cac_nhip_dieu_chinh_manh_khong_con_la_suy_thoai_keo_dai\"><\/span><b>Th\u1ecb tr\u01b0\u1eddng g\u1ea5u ng\u00e0y nay ch\u1ee7 y\u1ebfu l\u00e0 c\u00e1c nh\u1ecbp \u0111i\u1ec1u ch\u1ec9nh m\u1ea1nh, kh\u00f4ng c\u00f2n l\u00e0 suy tho\u00e1i k\u00e9o d\u00e0i<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400\">Puell Multiple l\u00e0 m\u1ed9t ch\u1ec9 b\u00e1o on-chain quan tr\u1ecdng, d\u00f9ng \u0111\u1ec3 \u0111\u00e1nh gi\u00e1 \u0111\u1ecbnh gi\u00e1 d\u00e0i h\u1ea1n c\u1ee7a Bitcoin th\u00f4ng qua doanh thu c\u1ee7a th\u1ee3 \u0111\u00e0o, qua \u0111\u00f3 ph\u1ea3n \u00e1nh \u00e1p l\u1ef1c cung t\u1eeb ph\u00eda khai th\u00e1c.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Hi\u1ec7n t\u1ea1i, Puell Multiple \u0111ang quanh m\u1ee9c 0,9, cho th\u1ea5y th\u1ecb tr\u01b0\u1eddng kh\u00f4ng \u1edf tr\u1ea1ng th\u00e1i \u0111\u1ec9nh chu k\u1ef3 c\u0169ng ch\u01b0a ch\u1ea1m \u0111\u00e1y. Bi\u00ean l\u1ee3i nhu\u1eadn c\u1ee7a th\u1ee3 \u0111\u00e0o v\u1eabn th\u1ea5p, \u0111\u1ed3ng ngh\u0129a v\u1edbi vi\u1ec7c kh\u00f4ng t\u1ed3n t\u1ea1i \u00e1p l\u1ef1c b\u00e1n m\u1ea1nh t\u1eeb nh\u00f3m miners. \u0110\u00e1ng ch\u00fa \u00fd, d\u00f9 gi\u00e1 Bitcoin \u0111ang \u1edf v\u00f9ng cao, Puell v\u1eabn kh\u00f4ng t\u0103ng m\u1ea1nh, ph\u1ea3n \u00e1nh th\u1ef1c t\u1ebf r\u1eb1ng th\u1ee3 \u0111\u00e0o kh\u00f4ng x\u1ea3 h\u00e0ng \u1ed3 \u1ea1t, ph\u1ea7n l\u1edbn do ph\u1ea7n th\u01b0\u1edfng kh\u1ed1i \u0111\u00e3 gi\u1ea3m sau halving.<\/span><\/p>\n<figure id=\"attachment_34550\" aria-describedby=\"caption-attachment-34550\" style=\"width: 1280px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-34550\" src=\"https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-04-builink-bitcoin-puell.png\" alt=\"Ch\u1ec9 b\u00e1o on-chain Puell Multiple\" width=\"1280\" height=\"720\" srcset=\"https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-04-builink-bitcoin-puell.png 1280w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-04-builink-bitcoin-puell-300x169.png 300w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-04-builink-bitcoin-puell-1024x576.png 1024w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-04-builink-bitcoin-puell-150x84.png 150w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-04-builink-bitcoin-puell-768x432.png 768w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-04-builink-bitcoin-puell-450x253.png 450w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-04-builink-bitcoin-puell-1200x675.png 1200w\" sizes=\"(max-width: 1280px) 100vw, 1280px\" \/><figcaption id=\"caption-attachment-34550\" class=\"wp-caption-text\">Ch\u1ec9 b\u00e1o on-chain Puell Multiple<\/figcaption><\/figure>\n<h3><span class=\"ez-toc-section\" id=\"Puell_chua_xac_nhan_dinh_chu_ky\"><\/span><b>Puell ch\u01b0a x\u00e1c nh\u1eadn \u0111\u1ec9nh chu k\u1ef3<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400\">Trong c\u00e1c chu k\u1ef3 tr\u01b0\u1edbc (2013, 2017, 2021), c\u00e1c \u0111\u1ec9nh l\u1edbn c\u1ee7a th\u1ecb tr\u01b0\u1eddng ch\u1ec9 h\u00ecnh th\u00e0nh khi Puell Multiple t\u0103ng v\u1ecdt l\u00ean v\u00f9ng 6-10, sau \u0111\u00f3 l\u00e0 nh\u1eefng nh\u1ecbp \u0111i\u1ec1u ch\u1ec9nh s\u00e2u. \u1ede chu k\u1ef3 hi\u1ec7n t\u1ea1i, Puell th\u1eadm ch\u00ed c\u00f2n ch\u01b0a duy tr\u00ec \u1ed5n \u0111\u1ecbnh tr\u00ean v\u00f9ng 2\u20133, cho th\u1ea5y \u0111\u1ec9nh v\u0129 m\u00f4 v\u1eabn ch\u01b0a h\u00ecnh th\u00e0nh. Mi\u1ec5n l\u00e0 Puell c\u00f2n dao \u0111\u1ed9ng trong v\u00f9ng 0,8-1,0, di\u1ec5n bi\u1ebfn gi\u00e1 nhi\u1ec1u kh\u1ea3 n\u0103ng ch\u1ec9 mang t\u00ednh \u0111i\u1ec1u ch\u1ec9nh k\u1ef9 thu\u1eadt, thay v\u00ec \u0111\u1ea3o chi\u1ec1u xu h\u01b0\u1edbng d\u00e0i h\u1ea1n.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Ket_hop_Puell_voi_NUPL_Tam_ly_chua_hung_phan\"><\/span><b>K\u1ebft h\u1ee3p Puell v\u1edbi NUPL: T\u00e2m l\u00fd ch\u01b0a h\u01b0ng ph\u1ea5n<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400\">Khi k\u1ebft h\u1ee3p Puell v\u1edbi NUPL (Net Unrealized Profit\/Loss), b\u1ee9c tranh t\u00e2m l\u00fd th\u1ecb tr\u01b0\u1eddng tr\u1edf n\u00ean r\u00f5 r\u00e0ng h\u01a1n. Hi\u1ec7n NUPL \u0111ang quanh m\u1ee9c 0,37, cho th\u1ea5y th\u1ecb tr\u01b0\u1eddng \u0111ang c\u00f3 l\u1ee3i nhu\u1eadn, nh\u01b0ng ch\u01b0a r\u01a1i v\u00e0o tr\u1ea1ng th\u00e1i h\u01b0ng ph\u1ea5n c\u1ef1c \u0111\u1ed9. \u0110\u00e2y l\u00e0 v\u00f9ng \u0111i\u1ec3n h\u00ecnh c\u1ee7a giai \u0111o\u1ea1n gi\u1eefa chu k\u1ef3 t\u0103ng, n\u01a1i xu h\u01b0\u1edbng t\u0103ng v\u1eabn t\u1ed3n t\u1ea1i song song v\u1edbi c\u00e1c nh\u1ecbp \u0111i\u1ec1u ch\u1ec9nh m\u1ea1nh.<\/span><\/p>\n<figure id=\"attachment_34551\" aria-describedby=\"caption-attachment-34551\" style=\"width: 1280px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-34551\" src=\"https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-05-builink-bitcoin-nupl.png\" alt=\"Ch\u1ec9 b\u00e1o Bitcoin NUPL\" width=\"1280\" height=\"720\" srcset=\"https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-05-builink-bitcoin-nupl.png 1280w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-05-builink-bitcoin-nupl-300x169.png 300w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-05-builink-bitcoin-nupl-1024x576.png 1024w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-05-builink-bitcoin-nupl-150x84.png 150w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-05-builink-bitcoin-nupl-768x432.png 768w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-05-builink-bitcoin-nupl-450x253.png 450w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-05-builink-bitcoin-nupl-1200x675.png 1200w\" sizes=\"(max-width: 1280px) 100vw, 1280px\" \/><figcaption id=\"caption-attachment-34551\" class=\"wp-caption-text\">Ch\u1ec9 b\u00e1o Bitcoin NUPL<\/figcaption><\/figure>\n<h3><span class=\"ez-toc-section\" id=\"MVRV_van_chua_vao_vung_qua_nong\"><\/span><b>MVRV v\u1eabn ch\u01b0a v\u00e0o v\u00f9ng qu\u00e1 n\u00f3ng<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400\">Ch\u1ec9 s\u1ed1 MVRV Ratio hi\u1ec7n \u1edf quanh 1,6, cho th\u1ea5y nh\u00e0 \u0111\u1ea7u t\u01b0 trung b\u00ecnh \u0111ang c\u00f3 kho\u1ea3ng 60% l\u1ee3i nhu\u1eadn ch\u01b0a th\u1ef1c hi\u1ec7n, nh\u01b0ng ch\u01b0a \u0111\u1ea1t m\u1ee9c \u0111\u1ecbnh gi\u00e1 qu\u00e1 cao theo l\u1ecbch s\u1eed. Trong c\u00e1c chu k\u1ef3 tr\u01b0\u1edbc, \u0111\u1ec9nh th\u1ecb tr\u01b0\u1eddng th\u01b0\u1eddng ch\u1ec9 xu\u1ea5t hi\u1ec7n khi MVRV v\u01b0\u1ee3t tr\u00ean 3,0, m\u1ed9t ng\u01b0\u1ee1ng v\u1eabn c\u00f2n kh\u00e1 xa so v\u1edbi hi\u1ec7n t\u1ea1i.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Nh\u01b0 v\u1eady, d\u01b0\u1eddng nh\u01b0 \u201cth\u1ecb tr\u01b0\u1eddng g\u1ea5u\u201d trong b\u1ed1i c\u1ea3nh hi\u1ec7n nay c\u00f3 th\u1ec3 kh\u00f4ng c\u00f2n l\u00e0 nh\u1eefng giai \u0111o\u1ea1n suy tho\u00e1i k\u00e9o d\u00e0i v\u00e0 t\u00e0n ph\u00e1 s\u00e2u. Thay v\u00e0o \u0111\u00f3 n\u00f3 ch\u1ee7 y\u1ebfu xu\u1ea5t hi\u1ec7n d\u01b0\u1edbi d\u1ea1ng c\u00e1c nh\u1ecbp \u0111i\u1ec1u ch\u1ec9nh m\u1ea1nh trong m\u1ed9t xu h\u01b0\u1edbng t\u0103ng v\u0129 m\u00f4 l\u1edbn h\u01a1n. Ngay c\u1ea3 nh\u1eefng \u0111\u1ee3t gi\u1ea3m 50-60%, n\u1ebfu x\u1ea3y ra, c\u0169ng n\u00ean \u0111\u01b0\u1ee3c nh\u00ecn nh\u1eadn nh\u01b0 \u0111i\u1ec1u ch\u1ec9nh s\u00e2u, thay v\u00ec s\u1ef1 \u0111\u1ea3o chi\u1ec1u c\u1ea5u tr\u00fac c\u1ee7a xu h\u01b0\u1edbng d\u00e0i h\u1ea1n.<\/span><\/p>\n<p><span style=\"font-weight: 400\">So v\u1edbi c\u00e1c chu k\u1ef3 2017\u20132021, th\u1eddi \u0111i\u1ec3m ch\u1ec9 b\u00e1o on-chain Bitcoin Puell t\u0103ng m\u1ea1nh tr\u01b0\u1edbc, sau \u0111\u00f3 l\u00e0 NUPL v\u00e0 cu\u1ed1i c\u00f9ng MVRV c\u00f9ng gi\u00e1 t\u1ea1o \u0111\u1ec9nh, chu k\u1ef3 hi\u1ec7n t\u1ea1i cho th\u1ea5y gi\u00e1 \u0111ang \u0111i tr\u01b0\u1edbc c\u00e1c ch\u1ec9 b\u00e1o. \u0110i\u1ec1u n\u00e0y h\u00e0m \u00fd th\u1ecb tr\u01b0\u1eddng v\u1eabn \u0111ang \u1edf giai \u0111o\u1ea1n s\u1edbm c\u1ee7a chu k\u1ef3, khi m\u00e0 ngu\u1ed3n cung mang t\u00ednh c\u1ea5u tr\u00fac ng\u00e0y c\u00e0ng th\u1eaft ch\u1eb7t v\u00e0 d\u00f2ng ti\u1ec1n t\u1ed5 ch\u1ee9c v\u00e0 ETF \u0111ang l\u00e0m thay \u0111\u1ed5i h\u00e0nh vi chu k\u1ef3 truy\u1ec1n th\u1ed1ng c\u1ee7a Bitcoin. N\u00f3i c\u00e1ch kh\u00e1c, nh\u1eefng nh\u1ecbp gi\u1ea3m m\u1ea1nh hi\u1ec7n nay c\u00f3 th\u1ec3 l\u00e0 \u201c\u0111\u1ed9ng t\u00e1c gi\u1ea3\u201d trong xu h\u01b0\u1edbng l\u1edbn, thay v\u00ec d\u1ea5u hi\u1ec7u k\u1ebft th\u00fac chu k\u1ef3 t\u0103ng.<\/span><\/p>\n<figure id=\"attachment_34552\" aria-describedby=\"caption-attachment-34552\" style=\"width: 1280px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-34552\" src=\"https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-06-builink-bitcoin-mvrv.png\" alt=\"Ch\u1ec9 b\u00e1o Bitcoin MVRV\" width=\"1280\" height=\"720\" srcset=\"https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-06-builink-bitcoin-mvrv.png 1280w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-06-builink-bitcoin-mvrv-300x169.png 300w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-06-builink-bitcoin-mvrv-1024x576.png 1024w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-06-builink-bitcoin-mvrv-150x84.png 150w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-06-builink-bitcoin-mvrv-768x432.png 768w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-06-builink-bitcoin-mvrv-450x253.png 450w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-06-builink-bitcoin-mvrv-1200x675.png 1200w\" sizes=\"(max-width: 1280px) 100vw, 1280px\" \/><figcaption id=\"caption-attachment-34552\" class=\"wp-caption-text\">Ch\u1ec9 b\u00e1o Bitcoin MVRV<\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Bitcoin_giu_vung_quanh_moc_90000_USD_khi_khoi_luong_giao_dich_tren_Binance_phat_tin_hieu_ha_nhiet\"><\/span><b>Bitcoin gi\u1eef v\u1eefng quanh m\u1ed1c 90.000 USD khi kh\u1ed1i l\u01b0\u1ee3ng giao d\u1ecbch tr\u00ean Binance ph\u00e1t t\u00edn hi\u1ec7u h\u1ea1 nhi\u1ec7t<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400\">D\u1eef li\u1ec7u t\u1eeb Binance cho th\u1ea5y m\u1ed1i quan h\u1ec7 t\u01b0\u01a1ng t\u00e1c r\u00f5 r\u1ec7t gi\u1eefa gi\u00e1 Bitcoin v\u00e0 kh\u1ed1i l\u01b0\u1ee3ng giao d\u1ecbch h\u00e0ng ng\u00e0y, d\u1ef1a tr\u00ean \u0111\u01b0\u1eddng trung b\u00ecnh \u0111\u1ed9ng 30 ng\u00e0y (MA 30D) c\u1ee7a kh\u1ed1i l\u01b0\u1ee3ng.<\/span><\/p>\n<p><span style=\"font-weight: 400\">T\u1ea1i th\u1eddi \u0111i\u1ec3m quan s\u00e1t, gi\u00e1 \u0111\u00f3ng c\u1eeda c\u1ee7a Bitcoin quanh m\u1ee9c 90.610 USD, trong khi kh\u1ed1i l\u01b0\u1ee3ng giao d\u1ecbch r\u00f2ng trong ng\u00e0y ghi nh\u1eadn kho\u1ea3ng -3.100 BTC, ph\u1ea3n \u00e1nh tr\u1ea1ng th\u00e1i d\u00f2ng ti\u1ec1n giao d\u1ecbch v\u1eabn \u0111ang r\u00fat ra so v\u1edbi c\u00e1c giai \u0111o\u1ea1n tr\u01b0\u1edbc. \u0110\u1ed3ng th\u1eddi, MA 30D c\u1ee7a kh\u1ed1i l\u01b0\u1ee3ng \u1edf m\u1ee9c -13.170 BTC, cho th\u1ea5y \u0111\u1ed9ng l\u01b0\u1ee3ng kh\u1ed1i l\u01b0\u1ee3ng v\u1eabn n\u1eb1m trong v\u00f9ng ti\u00eau c\u1ef1c v\u00e0 mang t\u00ednh suy y\u1ebfu mang t\u00ednh c\u1ea5u tr\u00fac.<\/span><\/p>\n<figure id=\"attachment_34553\" aria-describedby=\"caption-attachment-34553\" style=\"width: 1280px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-34553\" src=\"https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-07-builink-bitcoin-cycle-volume.png\" alt=\"Ch\u1ec9 b\u00e1o Bitcoin Cycle Volume Trend\" width=\"1280\" height=\"720\" srcset=\"https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-07-builink-bitcoin-cycle-volume.png 1280w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-07-builink-bitcoin-cycle-volume-300x169.png 300w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-07-builink-bitcoin-cycle-volume-1024x576.png 1024w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-07-builink-bitcoin-cycle-volume-150x84.png 150w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-07-builink-bitcoin-cycle-volume-768x432.png 768w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-07-builink-bitcoin-cycle-volume-450x253.png 450w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-07-builink-bitcoin-cycle-volume-1200x675.png 1200w\" sizes=\"(max-width: 1280px) 100vw, 1280px\" \/><figcaption id=\"caption-attachment-34553\" class=\"wp-caption-text\">Ch\u1ec9 b\u00e1o Bitcoin Cycle Volume Trend<\/figcaption><\/figure>\n<h3><span class=\"ez-toc-section\" id=\"Khoi_luong_suy_yeu_nhung_co_dau_hieu_cham_lai\"><\/span><b>Kh\u1ed1i l\u01b0\u1ee3ng suy y\u1ebfu nh\u01b0ng c\u00f3 d\u1ea5u hi\u1ec7u ch\u1eadm l\u1ea1i<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400\">X\u00e9t v\u1ec1 m\u1eb7t s\u1ed1 li\u1ec7u, d\u00f9 kh\u1ed1i l\u01b0\u1ee3ng trong ng\u00e0y v\u1eabn \u00e2m, m\u1ee9c \u0111\u1ed9 \u00e2m \u0111\u00e3 nh\u1eb9 h\u01a1n so v\u1edbi \u0111\u01b0\u1eddng trung b\u00ecnh 30 ng\u00e0y. \u0110i\u1ec1u n\u00e0y c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c hi\u1ec3u nh\u01b0 m\u1ed9t n\u1ed7 l\u1ef1c \u1ed5n \u0111\u1ecbnh ban \u0111\u1ea7u, ho\u1eb7c \u00edt nh\u1ea5t l\u00e0 s\u1ef1 ch\u1eadm l\u1ea1i trong t\u1ed1c \u0111\u1ed9 suy gi\u1ea3m c\u1ee7a kh\u1ed1i l\u01b0\u1ee3ng giao d\u1ecbch.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Trong l\u1ecbch s\u1eed, nh\u1eefng tr\u1ea1ng th\u00e1i nh\u01b0 v\u1eady th\u01b0\u1eddng xu\u1ea5t hi\u1ec7n \u1edf giai \u0111o\u1ea1n chuy\u1ec3n ti\u1ebfp gi\u1eefa \u0111i\u1ec1u ch\u1ec9nh v\u00e0 t\u00edch l\u0169y, khi \u00e1p l\u1ef1c b\u00e1n d\u1ea7n suy y\u1ebfu nh\u01b0ng l\u1ef1c c\u1ea7u v\u1eabn ch\u01b0a \u0111\u1ee7 m\u1ea1nh \u0111\u1ec3 k\u00edch ho\u1ea1t m\u1ed9t nh\u1ecbp t\u0103ng m\u1edbi.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Gia_giu_cao_du_thanh_khoan_suy_giam\"><\/span><b>Gi\u00e1 gi\u1eef cao d\u00f9 thanh kho\u1ea3n suy gi\u1ea3m<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400\">M\u1ed9t \u0111i\u1ec3m \u0111\u00e1ng ch\u00fa \u00fd l\u00e0 gi\u00e1 Bitcoin v\u1eabn duy tr\u00ec \u1edf v\u00f9ng cao, b\u1ea5t ch\u1ea5p s\u1ef1 co h\u1eb9p r\u00f5 r\u1ec7t c\u1ee7a kh\u1ed1i l\u01b0\u1ee3ng giao d\u1ecbch. \u0110i\u1ec1u n\u00e0y cho th\u1ea5y m\u1ed9t s\u1ef1 l\u1ec7ch pha t\u1ea1m th\u1eddi gi\u1eefa gi\u00e1 v\u00e0 thanh kho\u1ea3n.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Trong nhi\u1ec1u tr\u01b0\u1eddng h\u1ee3p, h\u00e0nh vi n\u00e0y ph\u1ea3n \u00e1nh r\u1eb1ng bi\u1ebfn \u0111\u1ed9ng gi\u00e1 hi\u1ec7n t\u1ea1i kh\u00f4ng \u0111\u01b0\u1ee3c d\u1eabn d\u1eaft b\u1edfi d\u00f2ng ti\u1ec1n giao d\u1ecbch ch\u1ee7 \u0111\u1ed9ng, m\u00e0 nhi\u1ec1u kh\u1ea3 n\u0103ng \u0111\u1ebfn t\u1eeb ngu\u1ed3n cung b\u1ecb k\u00ecm h\u00e3m ho\u1eb7c ng\u01b0\u1eddi b\u00e1n kh\u00f4ng s\u1eb5n s\u00e0ng x\u1ea3 h\u00e0ng \u1edf v\u00f9ng gi\u00e1 hi\u1ec7n t\u1ea1i. N\u00f3i c\u00e1ch kh\u00e1c, th\u1ecb tr\u01b0\u1eddng \u0111ang gi\u1eef gi\u00e1 nh\u1edd thi\u1ebfu \u00e1p l\u1ef1c b\u00e1n, h\u01a1n l\u00e0 nh\u1edd d\u00f2ng ti\u1ec1n mua m\u1edbi m\u1ea1nh m\u1ebd.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Thi_truong_buoc_vao_pha_%E2%80%9Ccooling-off%E2%80%9D\"><\/span><b>Th\u1ecb tr\u01b0\u1eddng b\u01b0\u1edbc v\u00e0o pha \u201ccooling-off\u201d<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400\">D\u1eef li\u1ec7u c\u0169ng cho th\u1ea5y m\u00f4 h\u00ecnh chu k\u1ef3 m\u1edf r\u1ed9ng &#8211; thu h\u1eb9p l\u1eb7p l\u1ea1i c\u1ee7a kh\u1ed1i l\u01b0\u1ee3ng. Khi MA 30D c\u1ee7a volume v\u1eabn n\u1eb1m trong v\u00f9ng \u00e2m, c\u00f3 th\u1ec3 k\u1ebft lu\u1eadn r\u1eb1ng th\u1ecb tr\u01b0\u1eddng \u0111ang \u1edf giai \u0111o\u1ea1n h\u1ea1 nhi\u1ec7t theo chu k\u1ef3, sau m\u1ed9t nh\u1ecbp t\u0103ng m\u1ea1nh tr\u01b0\u1edbc \u0111\u00f3.<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u0110\u1ec3 x\u00e1c nh\u1eadn m\u1ed9t \u0111\u1ea3o chi\u1ec1u b\u1ec1n v\u1eefng trong t\u01b0\u01a1ng lai, th\u1ecb tr\u01b0\u1eddng c\u1ea7n h\u1ed9i t\u1ee5 c\u00e1c \u0111i\u1ec1u ki\u1ec7n sau. M\u1ed9t l\u00e0 kh\u1ed1i l\u01b0\u1ee3ng giao d\u1ecbch h\u00e0ng ng\u00e0y chuy\u1ec3n sang v\u00f9ng d\u01b0\u01a1ng v\u00e0 hai l\u00e0. Hai l\u00e0 \u0111\u01b0\u1eddng MA 30D c\u1ee7a kh\u1ed1i l\u01b0\u1ee3ng \u0111\u1ea3o chi\u1ec1u \u0111i l\u00ean. Ch\u1ec9 khi \u0111\u00f3, Bitcoin m\u1edbi th\u1ef1c s\u1ef1 b\u01b0\u1edbc v\u00e0o m\u1ed9t chu k\u1ef3 m\u1edf r\u1ed9ng m\u1edbi \u0111\u01b0\u1ee3c h\u1eadu thu\u1eabn b\u1edfi thanh kho\u1ea3n th\u1ef1c, thay v\u00ec ch\u1ec9 l\u00e0 tr\u1ea1ng th\u00e1i gi\u1eef gi\u00e1 trong m\u00f4i tr\u01b0\u1eddng giao d\u1ecbch tr\u1ea7m l\u1eafng.<\/span><\/p>\n<p><span style=\"font-weight: 400\">T\u00f3m l\u1ea1i, Bitcoin hi\u1ec7n \u0111ang trong giai \u0111o\u1ea1n \u0111i ngang, h\u1ea1 nhi\u1ec7t, n\u01a1i gi\u00e1 v\u1eabn \u0111\u01b0\u1ee3c gi\u1eef v\u1eefng nh\u01b0ng thi\u1ebfu x\u00e1c nh\u1eadn t\u1eeb kh\u1ed1i l\u01b0\u1ee3ng. \u0110\u00e2y l\u00e0 v\u00f9ng nh\u1ea1y c\u1ea3m, \u0111\u00f2i h\u1ecfi s\u1ef1 ki\u00ean nh\u1eabn v\u00e0 quan s\u00e1t s\u00e1t sao s\u1ef1 thay \u0111\u1ed5i c\u1ee7a d\u00f2ng ti\u1ec1n tr\u01b0\u1edbc khi k\u1ef3 v\u1ecdng m\u1ed9t xu h\u01b0\u1edbng r\u00f5 r\u00e0ng h\u01a1n.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Hoat_dong_chi_tieu_cua_Long-Term_Holder_Bitcoin_phat_tin_hieu_chuyen_pha_cuoi_chu_ky\"><\/span><b>Ho\u1ea1t \u0111\u1ed9ng chi ti\u00eau c\u1ee7a Long-Term Holder Bitcoin ph\u00e1t t\u00edn hi\u1ec7u chuy\u1ec3n pha cu\u1ed1i chu k\u1ef3<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400\">D\u1eef li\u1ec7u m\u1edbi nh\u1ea5t v\u1ec1 h\u00e0nh vi chi ti\u00eau c\u1ee7a nh\u00f3m Long-Term Holder (LTH) \u0111ang cho th\u1ea5y m\u1ed9t m\u00f4 h\u00ecnh quen thu\u1ed9c, t\u1eebng nhi\u1ec1u l\u1ea7n xu\u1ea5t hi\u1ec7n g\u1ea7n c\u00e1c \u0111i\u1ec3m ngo\u1eb7t l\u1edbn c\u1ee7a chu k\u1ef3 th\u1ecb tr\u01b0\u1eddng Bitcoin. C\u1ee5 th\u1ec3, t\u1ed5ng chi ti\u00eau c\u1ee7a LTH trong 30 ng\u00e0y \u0111ang ti\u1ebfn s\u00e1t c\u00e1c m\u1ee9c t\u1eebng ghi nh\u1eadn \u1edf nh\u1eefng \u0111\u1ec9nh chu k\u1ef3 tr\u01b0\u1edbc, khi c\u00e1c \u0111\u1ed3ng BTC l\u00e2u n\u0103m quay tr\u1edf l\u1ea1i l\u01b0u th\u00f4ng sau th\u1eddi gian d\u00e0i b\u1ea5t \u0111\u1ed9ng.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Nh\u1eefng \u0111\u1ee3t gia t\u0103ng t\u01b0\u01a1ng t\u1ef1 \u0111\u00e3 xu\u1ea5t hi\u1ec7n v\u00e0o c\u00e1c n\u0103m 2013, 2017 v\u00e0 \u0111\u1ea7u 2021, v\u00e0 \u0111\u1ec1u tr\u00f9ng v\u1edbi giai \u0111o\u1ea1n bi\u1ebfn \u0111\u1ed9ng m\u1ea1nh, c\u1ea5u tr\u00fac th\u1ecb tr\u01b0\u1eddng thay \u0111\u1ed5i v\u00e0 xu h\u01b0\u1edbng b\u1eaft \u0111\u1ea7u chuy\u1ec3n pha.<\/span><\/p>\n<figure id=\"attachment_34554\" aria-describedby=\"caption-attachment-34554\" style=\"width: 1245px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-34554\" src=\"https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-08-builink-bitcoin-lth.png\" alt=\"Ch\u1ec9 b\u00e1o Bitcoin Long-Term Holder Spending\" width=\"1245\" height=\"680\" srcset=\"https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-08-builink-bitcoin-lth.png 1245w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-08-builink-bitcoin-lth-300x164.png 300w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-08-builink-bitcoin-lth-1024x559.png 1024w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-08-builink-bitcoin-lth-150x82.png 150w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-08-builink-bitcoin-lth-768x419.png 768w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-08-builink-bitcoin-lth-450x246.png 450w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-08-builink-bitcoin-lth-1200x655.png 1200w\" sizes=\"(max-width: 1245px) 100vw, 1245px\" \/><figcaption id=\"caption-attachment-34554\" class=\"wp-caption-text\">Ch\u1ec9 b\u00e1o Bitcoin Long-Term Holder Spending<\/figcaption><\/figure>\n<h3><span class=\"ez-toc-section\" id=\"Diem_khac_biet_quan_trong_cua_chu_ky_hien_tai\"><\/span><b>\u0110i\u1ec3m kh\u00e1c bi\u1ec7t quan tr\u1ecdng c\u1ee7a chu k\u1ef3 hi\u1ec7n t\u1ea1i<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400\">\u0110i\u1ec3m \u0111\u00e1ng ch\u00fa \u00fd trong l\u1ea7n gia t\u0103ng n\u00e0y n\u1eb1m \u1edf th\u00e0nh ph\u1ea7n c\u1ee7a d\u00f2ng chi ti\u00eau. Theo \u0111\u00f3, m\u1ed9t t\u1ef7 tr\u1ecdng l\u1edbn trong m\u1ee9c t\u0103ng g\u1ea7n \u0111\u00e2y \u0111\u1ebfn t\u1eeb c\u00e1c giao d\u1ecbch li\u00ean quan \u0111\u1ebfn s\u00e0n giao d\u1ecbch. \u0110\u1ed9ng th\u00e1i n\u00e0y t\u01b0\u01a1ng t\u1ef1 nh\u1eefng g\u00ec t\u1eebng x\u1ea3y ra v\u00e0o cu\u1ed1i n\u0103m 2018 ho\u1eb7c trong c\u00e1c \u0111\u1ee3t lu\u00e2n chuy\u1ec3n n\u1ed9i b\u1ed9 tr\u00ean c\u00e1c n\u1ec1n t\u1ea3ng l\u1edbn tr\u01b0\u1edbc \u0111\u00e2y.<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u0110i\u1ec1u n\u00e0y cho th\u1ea5y m\u1ed9t ph\u1ea7n d\u00f2ng chi ti\u00eau mang t\u00ednh v\u1eadn h\u00e0nh (operational), thay v\u00ec ho\u00e0n to\u00e0n l\u00e0 h\u00e0nh vi ph\u00e2n ph\u1ed1i \u0111\u1ec3 b\u00e1n ra th\u1ecb tr\u01b0\u1eddng.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Khi lo\u1ea1i b\u1ecf c\u00e1c d\u00f2ng ch\u1ea3y li\u00ean quan \u0111\u1ebfn s\u00e0n, ho\u1ea1t \u0111\u1ed9ng chi ti\u00eau c\u1ee7a LTH v\u1eabn \u1edf m\u1ee9c cao, nh\u01b0ng ch\u01b0a ch\u1ea1m t\u1edbi c\u00e1c ng\u01b0\u1ee1ng c\u1ef1c \u0111oan trong l\u1ecbch s\u1eed. \u0110i\u1ec1u \u0111\u00f3 h\u00e0m \u00fd r\u1eb1ng th\u1ecb tr\u01b0\u1eddng \u0111ang ch\u1ee9ng ki\u1ebfn ch\u1ed1t l\u1eddi c\u00f3 ki\u1ec3m so\u00e1t, thay v\u00ec m\u1ed9t l\u00e0n s\u00f3ng x\u1ea3 h\u00e0ng mang t\u00ednh ho\u1ea3ng lo\u1ea1n hay \u0111\u1ea7u h\u00e0ng.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Goc_nhin_chu_ky_Dau_hieu_moi_truong_cuoi_chu_ky\"><\/span><b>G\u00f3c nh\u00ecn chu k\u1ef3: D\u1ea5u hi\u1ec7u m\u00f4i tr\u01b0\u1eddng cu\u1ed1i chu k\u1ef3<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400\">T\u1eeb g\u00f3c \u0111\u1ed9 macro on-chain, h\u00e0nh vi n\u00e0y ph\u00f9 h\u1ee3p v\u1edbi m\u1ed9t m\u00f4i tr\u01b0\u1eddng cu\u1ed1i chu k\u1ef3, n\u01a1i c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 d\u00e0i h\u1ea1n b\u1eaft \u0111\u1ea7u t\u1eebng b\u01b0\u1edbc cung c\u1ea5p thanh kho\u1ea3n cho th\u1ecb tr\u01b0\u1eddng trong b\u1ed1i c\u1ea3nh nhu c\u1ea7u v\u1eabn c\u00f2n hi\u1ec7n di\u1ec7n.<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u0110i\u1ec1u n\u00e0y kh\u00f4ng \u0111\u1ed3ng ngh\u0129a v\u1edbi vi\u1ec7c \u0111\u1ec9nh gi\u00e1 \u0111\u00e3 ngay l\u1eadp t\u1ee9c h\u00ecnh th\u00e0nh, nh\u01b0ng n\u00f3 cho th\u1ea5y \u00e1p l\u1ef1c b\u00e1n c\u1eadn bi\u00ean t\u1eeb nh\u00f3m n\u1eafm gi\u1eef l\u00e2u n\u0103m \u0111ang gia t\u0103ng, qua \u0111\u00f3 l\u00e0m suy gi\u1ea3m d\u1ea7n \u201cph\u00ed khan hi\u1ebfm\u201d \u2013 y\u1ebfu t\u1ed1 th\u01b0\u1eddng n\u00e2ng \u0111\u1ee1 c\u00e1c pha t\u0103ng parabol.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Trong c\u00e1c chu k\u1ef3 tr\u01b0\u1edbc, giai \u0111o\u1ea1n n\u00e0y th\u01b0\u1eddng l\u00e0 b\u01b0\u1edbc \u0111\u1ec7m cho qu\u00e1 tr\u00ecnh chuy\u1ec3n t\u1eeb m\u1edf r\u1ed9ng sang t\u00edch l\u0169y\/\u0111i ngang, thay v\u00ec \u0111\u1ea3o chi\u1ec1u ngay l\u1eadp t\u1ee9c.<\/span><\/p>\n<figure id=\"attachment_34555\" aria-describedby=\"caption-attachment-34555\" style=\"width: 1280px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-34555\" src=\"https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-09-builink-bitcoin-lth.png\" alt=\"Ch\u1ec9 b\u00e1o Bitcoin Long-Term Holder Spending\" width=\"1280\" height=\"584\" srcset=\"https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-09-builink-bitcoin-lth.png 1280w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-09-builink-bitcoin-lth-300x137.png 300w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-09-builink-bitcoin-lth-1024x467.png 1024w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-09-builink-bitcoin-lth-150x68.png 150w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-09-builink-bitcoin-lth-768x350.png 768w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-09-builink-bitcoin-lth-450x205.png 450w, https:\/\/www.fiahub.com\/blog\/wp-content\/uploads\/2026\/01\/01-13-09-builink-bitcoin-lth-1200x548.png 1200w\" sizes=\"(max-width: 1280px) 100vw, 1280px\" \/><figcaption id=\"caption-attachment-34555\" class=\"wp-caption-text\">Ch\u1ec9 b\u00e1o Bitcoin Long-Term Holder Spending<\/figcaption><\/figure>\n<h3><span class=\"ez-toc-section\" id=\"Yeu_to_quyet_dinh_trong_ngan_han\"><\/span><b>Y\u1ebfu t\u1ed1 quy\u1ebft \u0111\u1ecbnh trong ng\u1eafn h\u1ea1n<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400\">Trong th\u1eddi gian t\u1edbi, xu h\u01b0\u1edbng c\u1ee7a Bitcoin s\u1ebd ph\u1ee5 thu\u1ed9c l\u1edbn v\u00e0o vi\u1ec7c d\u00f2ng c\u1ea7u m\u1edbi, \u0111\u1eb7c bi\u1ec7t l\u00e0 t\u1eeb nh\u00e0 \u0111\u1ea7u t\u01b0 t\u1ed5 ch\u1ee9c v\u00e0 c\u00e1c qu\u1ef9 ETF, c\u00f3 \u0111\u1ee7 s\u1ee9c h\u1ea5p th\u1ee5 l\u01b0\u1ee3ng cung b\u1ed5 sung n\u00e0y hay kh\u00f4ng. N\u1ebfu c\u1ea7u duy tr\u00ec m\u1ea1nh m\u1ebd, ho\u1ea1t \u0111\u1ed9ng chi ti\u00eau cao c\u1ee7a LTH c\u00f3 th\u1ec3 \u0111\u00f3ng vai tr\u00f2 nh\u01b0 m\u1ed9t qu\u00e1 tr\u00ecnh t\u00e1i ph\u00e2n ph\u1ed1i l\u00e0nh m\u1ea1nh, gi\u00fap th\u1ecb tr\u01b0\u1eddng \u1ed5n \u0111\u1ecbnh v\u00e0 thi\u1ebft l\u1eadp n\u1ec1n gi\u00e1 m\u1edbi. Ng\u01b0\u1ee3c l\u1ea1i, n\u1ebfu c\u1ea7u suy y\u1ebfu, l\u1ecbch s\u1eed cho th\u1ea5y vi\u1ec7c LTH chi ti\u00eau k\u00e9o d\u00e0i th\u01b0\u1eddng \u0111\u00e1nh d\u1ea5u s\u1ef1 kh\u1edfi \u0111\u1ea7u c\u1ee7a m\u1ed9t giai \u0111o\u1ea1n th\u1ecb tr\u01b0\u1eddng bi\u1ebfn \u0111\u1ed9ng cao v\u00e0 \u0111i ngang trong bi\u00ean \u0111\u1ed9 r\u1ed9ng.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Ket_luan_chung\"><\/span><b>K\u1ebft lu\u1eadn chung<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400\">Bitcoin ch\u01b0a b\u01b0\u1edbc v\u00e0o ph\u00e2n ph\u1ed1i m\u1ea1nh, nh\u01b0ng c\u00e1c d\u1eef li\u1ec7u on-chain cho th\u1ea5y th\u1ecb tr\u01b0\u1eddng \u0111ang h\u1ea1 nhi\u1ec7t r\u00f5 r\u1ec7t. OI gi\u1ea3m, CVD suy y\u1ebfu v\u00e0 d\u00f2ng ti\u1ec1n c\u00e1 voi nh\u00edch l\u00ean l\u00e0 nh\u1eefng t\u00edn hi\u1ec7u c\u1ea3nh b\u00e1o s\u1edbm cho r\u1ee7i ro \u0111i\u1ec1u ch\u1ec9nh ng\u1eafn h\u1ea1n. Tuy nhi\u00ean, khi Puell, NUPL v\u00e0 MVRV ch\u01b0a x\u00e1c nh\u1eadn \u0111\u1ec9nh chu k\u1ef3, c\u00e1c nh\u1ecbp gi\u1ea3m hi\u1ec7n t\u1ea1i nhi\u1ec1u kh\u1ea3 n\u0103ng ch\u1ec9 l\u00e0 \u0111i\u1ec1u ch\u1ec9nh trong xu h\u01b0\u1edbng t\u0103ng v\u0129 m\u00f4, thay v\u00ec s\u1ef1 \u0111\u1ea3o chi\u1ec1u c\u1ea5u tr\u00fac.<\/span><\/p>\n<ul>\n<li><strong>Xem th\u00eam<\/strong>: <a href=\"https:\/\/www.fiahub.com\/buy-crypto?coin=BTC\" target=\"_blank\" rel=\"noopener\">Mua BTC b\u1eb1ng VN\u0110 t\u1ea1i Fiahub<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>D\u1eef li\u1ec7u c\u1eadp nh\u1eadt t\u1eeb ng\u00e0y 05\/12 &#8211; 11\/01. Xem th\u00eam: Ph\u00e2n t\u00edch d\u1eef li\u1ec7u on-chain Bitcoin tu\u1ea7n 01\/2026: C\u00e1 voi b\u00e1n ra, t\u00edch l\u0169y suy y\u1ebfu: R\u1ee7i ro n\u00e0o \u0111ang ch\u1edd Bitcoin? Open Interest BTC tr\u00ean Binance gi\u1ea3m, c\u00e1 voi b\u1eaft \u0111\u1ea7u c\u00f3 \u0111\u1ed9ng th\u00e1i Th\u1ecb tr\u01b0\u1eddng ph\u00e1i sinh Bitcoin (BTC) tr\u00ean Binance \u0111ang<\/p>\n","protected":false},"author":23,"featured_media":34556,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21849],"tags":[221,3102,8097],"class_list":{"0":"post-34546","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 v26.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Ph\u00e2n t\u00edch d\u1eef li\u1ec7u on-chain Bitcoin tu\u1ea7n 02\/2026 - Fiahub<\/title>\n<meta name=\"description\" content=\"Bitcoin ch\u01b0a b\u01b0\u1edbc v\u00e0o ph\u00e2n ph\u1ed1i m\u1ea1nh, nh\u01b0ng c\u00e1c d\u1eef li\u1ec7u on-chain cho th\u1ea5y th\u1ecb tr\u01b0\u1eddng \u0111ang h\u1ea1 nhi\u1ec7t r\u00f5 r\u1ec7t. OI gi\u1ea3m, CVD suy y\u1ebfu v\u00e0 d\u00f2ng ti\u1ec1n c\u00e1 voi nh\u00edch l\u00ean l\u00e0 nh\u1eefng t\u00edn hi\u1ec7u c\u1ea3nh b\u00e1o s\u1edbm cho r\u1ee7i ro \u0111i\u1ec1u ch\u1ec9nh ng\u1eafn h\u1ea1n.\" \/>\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-02-2026\/\" \/>\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\/2026: Bitcoin \u0111ang \u0111i v\u00e0o giai \u0111o\u1ea1n \u201ccooling-off\u201d\" \/>\n<meta property=\"og:description\" content=\"Bitcoin ch\u01b0a b\u01b0\u1edbc v\u00e0o ph\u00e2n ph\u1ed1i m\u1ea1nh, nh\u01b0ng c\u00e1c d\u1eef li\u1ec7u on-chain cho th\u1ea5y th\u1ecb tr\u01b0\u1eddng \u0111ang h\u1ea1 nhi\u1ec7t r\u00f5 r\u1ec7t. 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