# 實現利潤｜Realized Profit

## 指標概念

實現利潤表示是**當天花費的所有比特幣的已實現利潤總價值**（美元計算）。當創建 UTXO 的價格（最後一次移動）低於當前花費的價格時，就會被計入已實現利潤。&#x20;

已實現利潤指標是已實現淨利潤/損失指標的一個組成部分，可提供對資本流入、需求強度和網絡盈利能力的洞察。較高的值表示較大的美元計價利潤正在通過花費的比特幣實現。&#x20;

一般來說，實現利潤通常應用於以下的框架：&#x20;

* 牛市：投資人陸續獲利了結，通常隨著牛市的進行而增加。在實現利潤並且價格繼續走高的地方，它代表著資本流入。&#x20;
* 局部/宏觀頂部：實現利潤創造了超過需求的供應。已實現利潤的極端或逐漸升高的價值可能會增加本地或全球市場頂部的可能性。&#x20;
* 熊市阻力：在宏觀下跌趨勢期間，利潤會激更加鼓勵投資者退出波段交易，或在成本基礎附近收回資金。這會在看跌的趨勢中產生阻力。

![圖片來源：glassnode](https://lh6.googleusercontent.com/6K6Cqu8Ynvi4YCklTABZt7NNqS4B4JWN9TH0jFPgDG-TTd7cPwVJ7kn0asxSxO0okP_1zjMTLz3RUkpZIOujWoU2ndBwqLheJo7-FvJAfEA4J_5hswHTZosWu1o52jgnxqz9j7sX)

## 指標如何衡量、計算？

實現利潤 = UTXO花費時的價格－UTXO創建時的價格（只計算此值為正的部位）


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