{"id":202898,"date":"2026-04-03T11:30:20","date_gmt":"2026-04-03T08:30:20","guid":{"rendered":"https:\/\/coinmuhendisi.com\/blog\/?p=202898"},"modified":"2026-04-03T09:12:29","modified_gmt":"2026-04-03T06:12:29","slug":"bitcoin-ayi-piyasasi-seviyelerine-mi-geriliyor-iste-nedenler","status":"publish","type":"post","link":"https:\/\/coinmuhendisi.com\/blog\/bitcoin-ayi-piyasasi-seviyelerine-mi-geriliyor-iste-nedenler\/","title":{"rendered":"Bitcoin Ay\u0131 Piyasas\u0131 Seviyelerine mi Geriliyor? \u0130\u015fte Nedenler"},"content":{"rendered":"

Bitcoin<\/strong> neden d\u00fc\u015f\u00fcyor ve piyasa ger\u00e7ekten ay\u0131 d\u00f6ng\u00fcs\u00fcne mi giriyor? Zincir \u00fcst\u00fc veriler kritik bir de\u011fi\u015fime i\u015faret ediyor. K\u00e2rda olan Bitcoin arz\u0131 h\u0131zla azal\u0131rken zarardaki BTC miktar\u0131 2022 ay\u0131 piyasas\u0131ndan bu yana g\u00f6r\u00fclen en y\u00fcksek seviyelere yakla\u015f\u0131yor.<\/p>\n

Bitcoin arz\u0131 k\u00e2rda m\u0131 yoksa zararda m\u0131? Zincir \u00fcst\u00fc metrikler, piyasan\u0131n giderek \u201cger\u00e7ek ay\u0131 piyasas\u0131\u201d seviyelerine yakla\u015ft\u0131\u011f\u0131n\u0131 g\u00f6steriyor. CryptoQuant verilerine g\u00f6re yakla\u015f\u0131k 8,2 milyon BTC \u015fu anda zararda, k\u00e2rda bulunan Bitcoin miktar\u0131 ise 11,2 milyon BTC civar\u0131nda.<\/p>\n

Bu da\u011f\u0131l\u0131m, ge\u00e7mi\u015f d\u00f6ng\u00fclerde dip b\u00f6lgelerine yakla\u015f\u0131l\u0131rken g\u00f6r\u00fclen arz yap\u0131s\u0131na giderek daha fazla benzemeye ba\u015flad\u0131.<\/p>\n

Zincir \u00fcst\u00fc analiz platformu CryptoQuant analisti Darkfost, mevcut tabloyu \u00f6nceki d\u00f6ng\u00fclerle kar\u015f\u0131la\u015ft\u0131rarak dikkat \u00e7ekici bir noktaya i\u015faret ediyor. Son b\u00fcy\u00fck ay\u0131 piyasas\u0131n\u0131n en d\u00fc\u015f\u00fck a\u015famas\u0131nda k\u00e2rda bulunan Bitcoin miktar\u0131 yakla\u015f\u0131k 9 milyon BTC seviyesine kadar gerilemi\u015fti.<\/p>\n

Bug\u00fcn k\u00e2rda olan arz h\u00e2l\u00e2 bu seviyenin \u00fczerinde bulunuyor. Ancak fark h\u0131zla kapan\u0131yor.<\/p>\n

Glassnode verileri de benzer bir tablo \u00e7iziyor. Zarardaki Bitcoin miktar\u0131 2022 sonundan bu yana g\u00f6r\u00fclmeyen seviyelere ula\u015fm\u0131\u015f durumda.<\/p>\n

Analiste g\u00f6re bu geli\u015fme tesad\u00fcf de\u011fil. Piyasa de\u011ferlemesi giderek daha fazla bask\u0131 alt\u0131nda kal\u0131yor.<\/p>\n

Darkfost, mevcut verilerin \u00f6nceki d\u00f6ng\u00fc diplerine benzer bir yap\u0131ya i\u015faret etti\u011fini belirterek \u015fu de\u011ferlendirmeyi yap\u0131yor:<\/p>\n

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\u201cPiyasa, \u00f6nceki ay\u0131 piyasas\u0131nda g\u00f6r\u00fclen ko\u015fullara benzer \u00f6l\u00e7ekte belirgin bir de\u011fer d\u00fc\u015f\u00fckl\u00fc\u011f\u00fc b\u00f6lgesine yakla\u015fm\u0131\u015f durumda.\u201d<\/p>\n<\/blockquote>\n

Bitcoin Ger\u00e7ekten Ay\u0131 Piyasas\u0131na m\u0131 Giriyor?<\/h2>\n

Her analist ayn\u0131 g\u00f6r\u00fc\u015f\u00fc payla\u015fm\u0131yor.<\/p>\n

Kripto para borsas\u0131 Bitrue ara\u015ft\u0131rma lideri Andri Fauzan Adziima, mevcut verilerin hen\u00fcz ger\u00e7ek bir dip olu\u015fumuna i\u015faret etmedi\u011fini d\u00fc\u015f\u00fcn\u00fcyor. Ona g\u00f6re zincir \u00fcst\u00fc g\u00f6stergeler, ucuzluk sinyalinden \u00e7ok artan piyasa stresini yans\u0131t\u0131yor.<\/p>\n

Ge\u00e7mi\u015f d\u00f6ng\u00fclerde ger\u00e7ek kapit\u00fclasyon d\u00f6nemleri \u00e7ok daha sert ger\u00e7ekle\u015fmi\u015fti.<\/p>\n

2022 ay\u0131 piyasas\u0131nda zarardaki Bitcoin arz\u0131 %50\u2019nin \u00fczerine \u00e7\u0131km\u0131\u015f, k\u00e2rda olan arz ise %45 seviyesinin alt\u0131na d\u00fc\u015fm\u00fc\u015ft\u00fc. Ayn\u0131 d\u00f6nemde NUPL ve MVRV gibi zincir \u00fcst\u00fc metrikler de a\u015f\u0131r\u0131 de\u011fer b\u00f6lgelerine ula\u015fm\u0131\u015ft\u0131.<\/p>\n

Bug\u00fcnk\u00fc veriler ise daha farkl\u0131 bir tablo ortaya koyuyor.<\/p>\n

Adziima\u2019ya g\u00f6re piyasa \u015fu anda erken veya orta a\u015famal\u0131 bir ay\u0131 ge\u00e7i\u015f s\u00fcrecinde bulunuyor. Teknik yap\u0131 yakla\u015f\u0131k 55.000 dolar civar\u0131nda yap\u0131sal bir dip ihtimaline i\u015faret etse de piyasada h\u00e2l\u00e2 a\u015fa\u011f\u0131 y\u00f6nl\u00fc bask\u0131 veya uzun s\u00fcreli bir konsolidasyon g\u00f6r\u00fclebilir.<\/p>\n

\"\"<\/p>\n

Bu D\u00f6ng\u00fcdeki D\u00fc\u015f\u00fc\u015f \u00d6nceki Ay\u0131 Piyasalar\u0131ndan Daha S\u0131\u011f<\/h2>\n

Bitcoin fiyat hareketi de zincir \u00fcst\u00fc verileri destekliyor.<\/p>\n

Bu d\u00f6ng\u00fcde Bitcoin, t\u00fcm zamanlar\u0131n en y\u00fcksek seviyesinden yakla\u015f\u0131k %52 gerilemi\u015f durumda. \u00d6nceki ay\u0131 piyasalar\u0131nda ise fiyat d\u00fc\u015f\u00fc\u015fleri \u00e7ok daha sert ger\u00e7ekle\u015fmi\u015fti.<\/p>\n

\u00d6nceki ay\u0131 d\u00f6ng\u00fclerinde tablo \u00e7ok daha sertti. Bitcoin genellikle zirveden dibe %77 ile %84 aras\u0131nda de\u011fer kaybederek ger\u00e7ek kapit\u00fclasyon b\u00f6lgelerine ula\u015fm\u0131\u015ft\u0131.<\/p>\n

Bu nedenle baz\u0131 analistler mevcut d\u00f6ng\u00fcn\u00fcn hen\u00fcz klasik bir ay\u0131 piyasas\u0131n\u0131n derinli\u011fine ula\u015fmad\u0131\u011f\u0131n\u0131 d\u00fc\u015f\u00fcn\u00fcyor.<\/p>\n

\u0130lginizi \u00c7ekebilir: Balinalar Neden Bitcoin Bo\u015falt\u0131yor? 63.000 BTC Eksik<\/a><\/em><\/p>\n

G\u00fc\u00e7l\u00fc Dolar Bitcoin\u2019i Nas\u0131l Bask\u0131l\u0131yor?<\/h2>\n

Makro tarafta ise farkl\u0131 bir bask\u0131 mekanizmas\u0131 \u00e7al\u0131\u015f\u0131yor.<\/p>\n

Bitcoin yazar\u0131 Timothy Peterson, g\u00fc\u00e7l\u00fc dolar ortam\u0131n\u0131n kripto piyasas\u0131 i\u00e7in tarihsel olarak zorlu oldu\u011funu vurguluyor. Ona g\u00f6re Bitcoin \u00f6zellikle iki ko\u015ful alt\u0131nda zorlan\u0131yor:<\/p>\n