{"id":78891,"date":"2026-05-12T08:57:42","date_gmt":"2026-05-12T01:57:42","guid":{"rendered":"https:\/\/hbbgroup.net\/bitcoin-exits-panic-zone-but-capital-inflows-remain-weak\/"},"modified":"2026-05-12T09:30:12","modified_gmt":"2026-05-12T02:30:12","slug":"bitcoin-exits-panic-zone-but-capital-inflows-remain-weak","status":"publish","type":"post","link":"https:\/\/hbbgroup.net\/vi\/bitcoin-exits-panic-zone-but-capital-inflows-remain-weak\/","title":{"rendered":"Bitcoin tho\u00e1t kh\u1ecfi \u201cv\u00f9ng ho\u1ea3ng lo\u1ea1n\u201d, nh\u01b0ng d\u00f2ng v\u1ed1n \u0111\u1ed5 v\u00e0o th\u1ecb tr\u01b0\u1eddng v\u1eabn c\u00f2n y\u1ebfu."},"content":{"rendered":"
\n

D\u1eef li\u1ec7u on-chain cho th\u1ea5y c\u00e1c \u0111i\u1ec1u ki\u1ec7n c\u1ee7a m\u1ea1ng l\u01b0\u1edbi Bitcoin g\u1ea7n \u0111\u00e2y \u0111\u00e3 \u0111\u01b0\u1ee3c c\u1ea3i thi\u1ec7n, tuy nhi\u00ean d\u00f2ng v\u1ed1n r\u00f2ng \u0111\u1ed5 v\u00e0o th\u1ecb tr\u01b0\u1eddng v\u1eabn c\u00f2n t\u01b0\u01a1ng \u0111\u1ed1i y\u1ebfu.<\/p>\n

V\u1ed1n h\u00f3a th\u1ef1c t\u1ebf (Realized Cap) c\u1ee7a Bitcoin hi\u1ec7n \u0111ang t\u0103ng tr\u1edf l\u1ea1i, nh\u01b0ng t\u1ed1c \u0111\u1ed9 v\u1eabn kh\u00e1 ch\u1eadm.<\/h2>\n

Nh\u01b0 t\u00e1c gi\u1ea3 Axel Adler Jr c\u1ee7a CryptoQuant \u0111\u00e3 ch\u1ec9 ra trong m\u1ed9t b\u00e0i \u0111\u0103ng tr\u00ean X, Bitcoin \u0111\u00e3 tho\u00e1t kh\u1ecfi \u201cv\u00f9ng ho\u1ea3ng lo\u1ea1n\u201d theo ch\u1ec9 s\u1ed1 T\u1ef7 l\u1ec7 L\u1ee3i nhu\u1eadn\/Thua l\u1ed7 Th\u1ef1c t\u1ebf (Realized Profit\/Loss Ratio). Ch\u1ec9 b\u00e1o on-chain n\u00e0y cho bi\u1ebft, \u0111\u00fang nh\u01b0 t\u00ean g\u1ecdi, li\u1ec7u c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 BTC \u0111ang b\u00e1n coin c\u1ee7a h\u1ecd trong tr\u1ea1ng th\u00e1i c\u00f3 l\u1eddi hay thua l\u1ed7.<\/p>\n

B\u00ean d\u01b0\u1edbi l\u00e0 bi\u1ec3u \u0111\u1ed3 \u0111\u01b0\u1ee3c Adler Jr chia s\u1ebb, th\u1ec3 hi\u1ec7n c\u00e1ch gi\u00e1 tr\u1ecb \u0111\u01b0\u1eddng trung b\u00ecnh \u0111\u1ed9ng (MA) 30 ng\u00e0y c\u1ee7a ch\u1ec9 s\u1ed1 n\u00e0y thay \u0111\u1ed5i \u0111\u1ed1i v\u1edbi Bitcoin trong su\u1ed1t th\u1eadp k\u1ef7 qua.<\/p>\n

\"Bitcoin
Gi\u00e1 tr\u1ecb c\u1ee7a ch\u1ec9 s\u1ed1 n\u00e0y d\u01b0\u1eddng nh\u01b0 \u0111\u00e3 t\u0103ng tr\u1edf l\u1ea1i trong nh\u1eefng ng\u00e0y g\u1ea7n \u0111\u00e2y | Ngu\u1ed3n: @AxelAdlerJr tr\u00ean X<\/p>\n

Nh\u01b0 c\u00f3 th\u1ec3 th\u1ea5y tr\u00ean bi\u1ec3u \u0111\u1ed3, \u0111\u01b0\u1eddng SMA 30 ng\u00e0y c\u1ee7a t\u1ef7 l\u1ec7 L\u1ee3i nhu\u1eadn\/Thua l\u1ed7 Th\u1ef1c t\u1ebf (Realized P\/L Ratio) c\u1ee7a Bitcoin \u0111\u00e3 t\u0103ng v\u1ecdt l\u00ean c\u00e1c m\u1ee9c \u0111\u00e1ng k\u1ec3 trong n\u0103m 2025, cho th\u1ea5y c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111\u00e3 t\u1eadn d\u1ee5ng \u0111\u00e0 t\u0103ng m\u1ea1nh c\u1ee7a th\u1ecb tr\u01b0\u1eddng \u0111\u1ec3 ch\u1ed1t l\u1eddi. Tuy nhi\u00ean, xu h\u01b0\u1edbng n\u00e0y \u0111\u00e3 \u0111\u1ea3o chi\u1ec1u v\u00e0o qu\u00fd cu\u1ed1i n\u0103m khi to\u00e0n b\u1ed9 th\u1ecb tr\u01b0\u1eddng b\u01b0\u1edbc v\u00e0o giai \u0111o\u1ea1n suy gi\u1ea3m.<\/p>\n

Sau khi \u0111\u1ee3t \u0111i\u1ec1u ch\u1ec9nh k\u00e9o d\u00e0i sang n\u0103m 2026, ch\u1ec9 b\u00e1o n\u00e0y \u0111\u00e3 gi\u1ea3m m\u1ea1nh xu\u1ed1ng m\u1ee9c m\u00e0 trong l\u1ecbch s\u1eed th\u01b0\u1eddng g\u1eafn li\u1ec1n v\u1edbi c\u00e1c \u0111\u1ee3t \u201c\u0111\u1ea7u h\u00e0ng trong ho\u1ea3ng lo\u1ea1n\u201d c\u1ee7a nh\u00e0 \u0111\u1ea7u t\u01b0. Tuy nhi\u00ean, k\u1ec3 t\u1eeb sau l\u00e0n s\u00f3ng b\u00e1n c\u1eaft l\u1ed7 \u0111\u00f3, th\u1ecb tr\u01b0\u1eddng \u0111\u00e3 d\u1ea7n t\u00ecm l\u1ea1i \u0111\u01b0\u1ee3c s\u1ef1 \u1ed5n \u0111\u1ecbnh v\u00e0 ch\u1ec9 s\u1ed1 n\u00e0y c\u0169ng \u0111ang t\u1eeb t\u1eeb ph\u1ee5c h\u1ed3i tr\u1edf l\u1ea1i.<\/p>\n

\u1ede th\u1eddi \u0111i\u1ec3m hi\u1ec7n t\u1ea1i, t\u1ef7 l\u1ec7 Realized P\/L kh\u00f4ng c\u00f2n ph\u00e1t t\u00edn hi\u1ec7u r\u1eb1ng m\u1ea1ng l\u01b0\u1edbi \u0111ang \u1edf trong giai \u0111o\u1ea1n ho\u1ea3ng lo\u1ea1n n\u1eefa, \u0111i\u1ec1u n\u00e0y cho th\u1ea5y \u0111i\u1ec1u ki\u1ec7n th\u1ecb tr\u01b0\u1eddng \u0111\u00e3 b\u1eaft \u0111\u1ea7u c\u1ea3i thi\u1ec7n. D\u00f9 v\u1eady, hi\u1ec7n t\u1ea1i gi\u00e1 tr\u1ecb c\u1ee7a ch\u1ec9 s\u1ed1 n\u00e0y v\u1eabn c\u00f2n t\u01b0\u01a1ng \u0111\u1ed1i th\u1ea5p.<\/p>\n

M\u1ed9t di\u1ec5n bi\u1ebfn \u0111\u00e1ng ch\u00fa \u00fd kh\u00e1c tr\u00ean th\u1ecb tr\u01b0\u1eddng l\u00e0 ch\u1ec9 s\u1ed1 Realized Cap cu\u1ed1i c\u00f9ng c\u0169ng \u0111\u00e3 \u0111\u1ea3o chi\u1ec1u t\u0103ng tr\u1edf l\u1ea1i, nh\u01b0 nh\u00e0 ph\u00e2n t\u00edch \u0111\u00e3 nh\u1ea5n m\u1ea1nh trong m\u1ed9t b\u00e0i \u0111\u0103ng kh\u00e1c tr\u00ean X.<\/p>\n

\u201cRealized Cap\u201d l\u00e0 m\u1ed9t m\u00f4 h\u00ecnh v\u1ed1n h\u00f3a on-chain c\u1ee7a Bitcoin, d\u00f9ng \u0111\u1ec3 \u0111o t\u1ed5ng gi\u00e1 tr\u1ecb m\u1ea1ng l\u01b0\u1edbi b\u1eb1ng c\u00e1ch gi\u1ea3 \u0111\u1ecbnh r\u1eb1ng \u201cgi\u00e1 tr\u1ecb th\u1ef1c\u201d c\u1ee7a m\u1ed7i \u0111\u1ed3ng coin \u0111ang l\u01b0u h\u00e0nh b\u1eb1ng v\u1edbi m\u1ee9c gi\u00e1 t\u1ea1i l\u1ea7n cu\u1ed1i c\u00f9ng n\u00f3 \u0111\u01b0\u1ee3c giao d\u1ecbch tr\u00ean blockchain.<\/p>\n

N\u00f3i ng\u1eafn g\u1ecdn, m\u00f4 h\u00ecnh n\u00e0y ph\u1ea3n \u00e1nh t\u1ed5ng l\u01b0\u1ee3ng v\u1ed1n m\u00e0 to\u00e0n b\u1ed9 c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111\u00e3 b\u1ecf ra \u0111\u1ec3 mua BTC.<\/p>\n

D\u01b0\u1edbi \u0111\u00e2y l\u00e0 bi\u1ec3u \u0111\u1ed3 cho th\u1ea5y xu h\u01b0\u1edbng c\u1ee7a ch\u1ec9 s\u1ed1 n\u00e0y, c\u0169ng nh\u01b0 m\u1ee9c thay \u0111\u1ed5i trong 30 ng\u00e0y c\u1ee7a n\u00f3 trong v\u00e0i n\u0103m g\u1ea7n \u0111\u00e2y:<\/p>\n<\/figcaption><\/figure>\n

\"Bitcoin
C\u00f3 v\u1ebb nh\u01b0 ch\u1ec9 s\u1ed1 n\u00e0y \u0111\u00e3 xu\u1ea5t hi\u1ec7n m\u1ed9t s\u1ef1 thay \u0111\u1ed5i nh\u1eb9 v\u1ec1 xu h\u01b0\u1edbng | Ngu\u1ed3n: @AxelAdlerJr tr\u00ean X<\/p>\n

T\u1eeb bi\u1ec3u \u0111\u1ed3 c\u00f3 th\u1ec3 th\u1ea5y r\u1eb1ng Realized Cap c\u1ee7a Bitcoin \u0111\u00e3 suy gi\u1ea3m c\u00f9ng v\u1edbi \u0111\u1ee3t gi\u1ea3m gi\u00e1 tr\u01b0\u1edbc \u0111\u00f3, khi m\u1ee9c thay \u0111\u1ed5i trong 30 ng\u00e0y c\u1ee7a ch\u1ec9 s\u1ed1 n\u00e0y r\u01a1i xu\u1ed1ng v\u00f9ng \u00e2m \u0111\u00e1ng k\u1ec3. Tuy nhi\u00ean, \u0111\u1ee3t ph\u1ee5c h\u1ed3i g\u1ea7n \u0111\u00e2y c\u1ee7a th\u1ecb tr\u01b0\u1eddng \u0111\u00e3 khi\u1ebfn d\u00f2ng v\u1ed1n r\u00f2ng \u0111\u1ea3o chi\u1ec1u tr\u1edf l\u1ea1i.<\/p>\n

Hi\u1ec7n t\u1ea1i, m\u1ee9c thay \u0111\u1ed5i 30 ng\u00e0y c\u1ee7a ch\u1ec9 s\u1ed1 \u0111\u00e3 quay v\u1ec1 gi\u00e1 tr\u1ecb d\u01b0\u01a1ng nh\u1eb9, cho th\u1ea5y \u0111\u00e3 c\u00f3 m\u1ed9t ph\u1ea7n d\u00f2ng v\u1ed1n ch\u1ea3y tr\u1edf l\u1ea1i v\u00e0o BTC trong th\u00e1ng qua, d\u00f9 quy m\u00f4 v\u1eabn c\u00f2n kh\u00e1 nh\u1ecf n\u1ebfu so v\u1edbi c\u00e1c giai \u0111o\u1ea1n t\u0103ng tr\u01b0\u1edfng m\u1ea1nh tr\u01b0\u1edbc \u0111\u00e2y.<\/p>\n

Gi\u00e1 BTC<\/p>\n

Bitcoin g\u1ea7n \u0111\u00e2y \u0111ang c\u00f3 xu h\u01b0\u1edbng \u0111i ngang khi gi\u00e1 v\u1eabn dao \u0111\u1ed9ng quanh m\u1ed1c 81.000 USD.<\/p>\n<\/figcaption><\/figure>\n

\"Bitcoin
Xu h\u01b0\u1edbng gi\u00e1 c\u1ee7a \u0111\u1ed3ng coin n\u00e0y trong 5 ng\u00e0y g\u1ea7n nh\u1ea5t | Ngu\u1ed3n: BTCUSDT tr\u00ean TradingView<\/p>\n

\u1ea2nh minh h\u1ecda \u0111\u01b0\u1ee3c t\u1ea1o b\u1edfi Dall-E, bi\u1ec3u \u0111\u1ed3 t\u1eeb TradingView.com<\/p>\n<\/figcaption><\/figure>\n<\/div>","protected":false},"excerpt":{"rendered":"

D\u1eef li\u1ec7u on-chain cho th\u1ea5y c\u00e1c \u0111i\u1ec1u ki\u1ec7n c\u1ee7a m\u1ea1ng l\u01b0\u1edbi Bitcoin g\u1ea7n \u0111\u00e2y \u0111\u00e3 \u0111\u01b0\u1ee3c c\u1ea3i thi\u1ec7n, tuy nhi\u00ean […]<\/p>","protected":false},"author":5,"featured_media":78892,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[220],"tags":[],"class_list":["post-78891","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tien-dien-tu"],"acf":[],"_links":{"self":[{"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/posts\/78891","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/comments?post=78891"}],"version-history":[{"count":2,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/posts\/78891\/revisions"}],"predecessor-version":[{"id":79118,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/posts\/78891\/revisions\/79118"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/media\/78892"}],"wp:attachment":[{"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/media?parent=78891"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/categories?post=78891"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/tags?post=78891"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}