{"id":7531,"date":"2026-09-13T13:12:28","date_gmt":"2026-09-13T05:12:28","guid":{"rendered":"https:\/\/www.zgwlgc.com\/?p=7531"},"modified":"2026-09-13T13:12:28","modified_gmt":"2026-09-13T05:12:28","slug":"%e6%af%94%e7%89%b9%e5%b8%81%e5%86%8d%e6%ac%a1%e4%b8%8b%e6%8e%a28%e4%b8%87%e7%be%8e%e5%85%83%ef%bc%8c%e5%ba%95%e9%83%a8%e5%9c%a8%e5%93%aa%ef%bc%9f","status":"publish","type":"post","link":"https:\/\/www.xztj168.com\/?p=7531","title":{"rendered":"\u6bd4\u7279\u5e01\u518d\u6b21\u4e0b\u63a28\u4e07\u7f8e\u5143\uff0c\u5e95\u90e8\u5728\u54ea\uff1f"},"content":{"rendered":"

\u539f\u6587\u6807\u9898\uff1a\u300a\u5e02\u573a\u66b4\u8dcc\uff0c\u6bd4\u7279\u5e01\u518d\u6b21\u4e0b\u63a2 8w \u7f8e\u91d1\uff0c\u718a\u5e02\u8981\u6765\u4e86\u5417\u300b<\/p>\n

\u539f\u6587\u4f5c\u8005\uff1aLuke\uff0c\u706b\u661f\u8d22\u7ecf<\/p>\n

\u5f15\u8a00<\/h3>\n

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\u5e02\u573a\u60c5\u7eea\u4e0e\u6050\u614c\u6307\u6570<\/h3>\n

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CryptoQuant \u6570\u636e\u663e\u793a\uff0c\u6bd4\u7279\u5e01\u73b0\u8d27\u5e02\u573a\u7684\u9700\u6c42\u589e\u957f\u6b63\u5728\u653e\u7f13\uff0c\u671f\u8d27\u5e02\u573a\u7684\u672a\u5e73\u4ed3\u5408\u7ea6\uff08Open Interest\uff09\u4e2d\u7a7a\u5934\u4ed3\u4f4d\u5360\u6bd4\u663e\u8457\u4e0a\u5347\uff0c\u622a\u81f3 3 \u6708 9 \u65e5\uff0cCME \u6bd4\u7279\u5e01\u671f\u8d27\u7a7a\u5934\u5934\u5bf8\u5360\u603b\u6301\u4ed3\u7684 45%\uff0c\u8f83 2 \u6708\u521d\u7684 30% \u4e0a\u5347\u4e86 15 \u4e2a\u767e\u5206\u70b9\uff0c\u8fd9\u79cd\u7a7a\u5934\u4e3b\u5bfc\u8d8b\u52bf\u52a0\u5267\u4e86\u5e02\u573a\u6050\u614c\u60c5\u7eea\uff0c\u6295\u8d44\u8005\u5bf9\u4ef7\u683c\u4e0b\u884c\u7684\u9884\u671f\u589e\u5f3a\uff0c\u751a\u81f3\u6709\u4eba\u8ba8\u8bba\u6bd4\u7279\u5e01\u662f\u5426\u4f1a\u8dcc\u7834 6 \u4e07\u7f8e\u5143\u7684\u5fc3\u7406\u5173\u53e3\u3002<\/p>\n

\u7206\u4ed3\u6570\u636e\u8fdb\u4e00\u6b65\u63ed\u793a\u4e86\u5e02\u573a\u52a8\u6001\uff0c\u8fc7\u53bb 1 \u5c0f\u65f6\u5185 BTC \u7206\u4ed3\u91d1\u989d\u8fbe 470.72 \u4e07\u7f8e\u5143\uff0cETH \u4e3a 130.61 \u4e07\u7f8e\u5143\uff0c\u603b\u989d 1154.82 \u4e07\u7f8e\u5143\uff0c\u5176\u4e2d\u591a\u5934\u7206\u4ed3 829.25 \u4e07\u7f8e\u5143\uff0c\u7a7a\u5934\u7206\u4ed3 2433.01 \u4e07\u7f8e\u5143\uff0c\u7a7a\u5934\u7206\u4ed3\u8fdc\u8d85\u591a\u5934\u53ef\u80fd\u5f15\u53d1\u300c\u7a7a\u5934\u6324\u538b\u300d\u5bfc\u81f4\u77ed\u671f\u53cd\u5f39\uff1b\u800c\u5728\u8fc7\u53bb 24 \u5c0f\u65f6\u5185\uff0c\u603b\u7206\u4ed3\u91d1\u989d\u8fbe 6.16 \u4ebf\u7f8e\u5143\uff0c\u591a\u5934\u7206\u4ed3 5.40 \u4ebf\u7f8e\u5143\uff0c\u7a7a\u5934\u7206\u4ed3 7630.75 \u4e07\u7f8e\u5143\uff0c\u591a\u5934\u7206\u4ed3\u5360\u4e3b\u5bfc\u53cd\u6620\u718a\u5e02\u538b\u529b\u7684\u6301\u7eed\uff0c\u8fd9\u4e0e NUPL \u6076\u5316\u548c\u7a7a\u5934\u4ed3\u4f4d\u4e0a\u5347\u76f8\u543b\u5408\uff0c\u77ed\u671f\u6ce2\u52a8\u4e0e\u957f\u671f\u98ce\u9669\u5e76\u5b58\uff0c\u6295\u8d44\u8005\u9700\u8b66\u60d5\u590d\u6742\u6027\uff0c\u5173\u6ce8\u7a7a\u5934\u6324\u538b\u673a\u4f1a\u7684\u540c\u65f6\u9632\u8303\u718a\u5e02\u4e0b\u884c\u98ce\u9669\u3002<\/p>\n

\"\u6bd4\u7279\u5e01\u518d\u6b21\u4e0b\u63a28\u4e07\u7f8e\u5143\uff0c\u5e95\u90e8\u5728\u54ea\uff1f\"<\/p>\n

\u6280\u672f\u9762\u5206\u6790\uff1a\u5173\u952e\u652f\u6491\u4e0e\u963b\u529b<\/h3>\n

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\u6b64\u5916\uff0c\u76f8\u5bf9\u5f3a\u5f31\u6307\u6570\uff08RSI\uff09\u5f53\u524d\u4e3a 42\uff0c\u5df2\u4ece\u8d85\u4e70\u533a\uff0870 \u4ee5\u4e0a\uff09\u56de\u843d\u81f3\u4e2d\u6027\u504f\u4f4e\u6c34\u5e73\uff0c\u6697\u793a\u77ed\u671f\u629b\u538b\u6709\u6240\u7f13\u89e3\uff0c\u4f46\u5c1a\u672a\u8fdb\u5165\u8d85\u5356\u533a\uff0830 \u4ee5\u4e0b\uff09\u3002\u6280\u672f\u5206\u6790\u5efa\u8bae\u6295\u8d44\u8005\u4fdd\u6301\u89c2\u671b\uff0c\u907f\u514d\u76f2\u76ee\u8ffd\u9ad8\u6216\u6284\u5e95\uff0c\u7b49\u5f85\u8d8b\u52bf\u660e\u6717\u3002<\/p>\n

\u5b8f\u89c2\u7ecf\u6d4e\u80cc\u666f\uff1a\u5229\u597d\u51fa\u5c3d\u4e0e\u4e0d\u786e\u5b9a\u6027<\/h3>\n

\u5b8f\u89c2\u7ecf\u6d4e\u56e0\u7d20\u5bf9\u52a0\u5bc6\u8d27\u5e01\u5e02\u573a\u7684\u5f71\u54cd\u4e0d\u5bb9\u5ffd\u89c6\u3002\u9996\u5148\uff0c\u5168\u7403\u5229\u7387\u73af\u5883\u7684\u53d8\u5316\u6b63\u5728\u65bd\u538b\u9ad8\u98ce\u9669\u8d44\u4ea7\u3002\u7f8e\u56fd 10 \u5e74\u671f\u56fd\u503a\u6536\u76ca\u7387\u8fd1\u671f\u5347\u81f3 4.2%\uff0c\u8f83\u5e74\u521d\u7684 3.8% \u4e0a\u5347\u4e86 40 \u4e2a\u57fa\u70b9\uff0c\u5438\u5f15\u8d44\u91d1\u4ece\u52a0\u5bc6\u5e02\u573a\u56de\u6d41\u81f3\u4f20\u7edf\u907f\u9669\u8d44\u4ea7\u3002\u4e0e\u6b64\u540c\u65f6\uff0c\u901a\u80c0\u9884\u671f\u5c45\u9ad8\u4e0d\u4e0b\uff0c\u7f8e\u8054\u50a8\u53ef\u80fd\u63a8\u8fdf\u964d\u606f\uff0c\u8fd9\u8fdb\u4e00\u6b65\u524a\u5f31\u4e86\u6bd4\u7279\u5e01\u4f5c\u4e3a\u300c\u6570\u5b57\u9ec4\u91d1\u300d\u7684\u5438\u5f15\u529b\u3002<\/p>\n

\u7acb\u6cd5\u5c42\u9762\uff0c\u5229\u597d\u6d88\u606f\u7684\u51cf\u5f31\u4e5f\u52a0\u5267\u4e86\u5e02\u573a\u538b\u529b\u3002\u4ee5\u72b9\u4ed6\u5dde\u7684\u6bd4\u7279\u5e01\u6cd5\u6848\u4e3a\u4f8b\uff0c\u8be5\u6cd5\u6848\u4e8e 3 \u6708 7 \u65e5\u5728\u5dde\u53c2\u8bae\u9662\u4ee5 19 \u7968\u8d5e\u6210\u30017 \u7968\u53cd\u5bf9\u901a\u8fc7\uff0c\u5e76\u5373\u5c06\u7531\u5dde\u957f\u7b7e\u7f72\u6210\u6cd5\u3002\u7136\u800c\uff0c\u5176\u6838\u5fc3\u6761\u6b3e\u2014\u2014\u5141\u8bb8\u72b9\u4ed6\u5dde\u6301\u6709\u6bd4\u7279\u5e01\u4f5c\u4e3a\u50a8\u5907\u8d44\u4ea7\u2014\u2014\u5728\u6700\u540e\u5ba1\u8bae\u4e2d\u88ab\u5220\u9664\u3002\u539f\u6761\u6b3e\u5c06\u6388\u6743\u5dde\u8d22\u653f\u90e8\u957f\u6295\u8d44\u6bd4\u7279\u5e01\uff0c\u4e0a\u9650\u4e3a\u5176\u5e02\u503c\u7684 5%\uff08\u7ea6 250 \u4ebf\u7f8e\u5143\uff09\uff0c\u8fd9\u672c\u53ef\u4f7f\u72b9\u4ed6\u5dde\u6210\u4e3a\u7f8e\u56fd\u9996\u4e2a\u62e5\u6709\u6bd4\u7279\u5e01\u50a8\u5907\u7684\u5dde\u3002\u5982\u4eca\uff0c\u6cd5\u6848\u4ec5\u4fdd\u7559\u4e86\u6258\u7ba1\u4fdd\u62a4\u53ca\u6bd4\u7279\u5e01\u6316\u77ff\u3001\u8282\u70b9\u8fd0\u884c\u7b49\u57fa\u672c\u6743\u5229\uff0c\u5f71\u54cd\u529b\u5927\u6253\u6298\u6263\u3002<\/p>\n

\u5b8f\u89c2\u5229\u597d\u7684\u51fa\u5c3d\u4f7f\u5f97\u5e02\u573a\u4fe1\u5fc3\u53d7\u632b\uff0c\u800c\u5916\u90e8\u4e0d\u786e\u5b9a\u6027\uff08\u5982\u7279\u6717\u666e\u653f\u5e9c\u5bf9\u52a0\u5bc6\u653f\u7b56\u7684\u6f5c\u5728\u8c03\u6574\uff09\u4e5f\u5728\u4e3a\u5e02\u573a\u589e\u6dfb\u53d8\u6570\u3002\u5f6d\u535a\u793e\u5206\u6790\u5e08\u9884\u6d4b\uff0c\u82e5\u7279\u6717\u666e\u8fde\u4efb\uff0c\u5176\u51cf\u7a0e\u548c\u653e\u677e\u76d1\u7ba1\u7684\u653f\u7b56\u53ef\u80fd\u77ed\u671f\u63d0\u632f\u52a0\u5bc6\u5e02\u573a\uff0c\u4f46\u957f\u671f\u6548\u679c\u4ecd\u9700\u89c2\u5bdf\u3002<\/p>\n

ETF \u6d41\u51fa\uff1a\u673a\u6784\u70ed\u60c5\u51cf\u9000<\/h3>\n

\"\u6bd4\u7279\u5e01\u518d\u6b21\u4e0b\u63a28\u4e07\u7f8e\u5143\uff0c\u5e95\u90e8\u5728\u54ea\uff1f\"<\/p>\n

\u673a\u6784\u9700\u6c42\u66fe\u662f 2024 \u5e74\u6bd4\u7279\u5e01\u4ef7\u683c\u4e0a\u6da8\u7684\u91cd\u8981\u63a8\u624b\uff0c\u4f46\u8fd1\u671f\u73b0\u8d27 ETF \u7684\u8d44\u91d1\u6d41\u51fa\u4ee4\u4eba\u62c5\u5fe7\u3002\u636e sosovalue \u6570\u636e\uff0c3 \u6708\u4ee5\u6765\uff0c\u7f8e\u56fd\u6bd4\u7279\u5e01\u73b0\u8d27 ETF \u51c0\u6d41\u51fa\u8d85\u8fc7 5 \u4ebf\u7f8e\u5143\uff0c\u5176\u4e2d\u7070\u5ea6\uff08Grayscale\uff09\u7684 GBTC \u6d41\u51fa\u5c24\u4e3a\u663e\u8457\u3002CryptoQuant \u7814\u7a76\u4e3b\u7ba1 Julio Moreno \u6307\u51fa\uff1a\u300c\u6bd4\u7279\u5e01\u73b0\u8d27\u9700\u6c42\u589e\u957f\u6b63\u5728\u6536\u7f29\uff0c\u800c\u671f\u8d27\u5e02\u573a\u7684\u7a7a\u5934\u4ed3\u4f4d\u5360\u636e\u4e3b\u5bfc\uff0c\u8fd9\u76f4\u63a5\u5bfc\u81f4\u4e86\u4ef7\u683c\u4e0b\u8dcc\u3002\u300d<\/p>\n

WhaleWire \u521b\u59cb\u4eba Jacob King \u66f4\u76f4\u8a00\uff1a\u300c\u6bd4\u7279\u5e01\u718a\u5e02\u5df2\u5230\u6765\u3002ETF \u8d44\u91d1\u6d41\u51fa\u521b\u7eaa\u5f55\uff0c\u673a\u6784\u9700\u6c42\u53d9\u4e8b\u5d29\u6e83\uff0c\u6bd4\u7279\u5e01\u6b63\u8d70\u5411\u591a\u5e74\u4f4e\u70b9\u3002\u300d\u5c3d\u7ba1\u8fd9\u4e00\u89c2\u70b9\u8f83\u4e3a\u6781\u7aef\uff0c\u4f46 ETF \u6d41\u51fa\u7684\u786e\u53cd\u6620\u51fa\u673a\u6784\u70ed\u60c5\u7684\u51cf\u9000\u30022024 \u5e74\u521d\uff0cETF \u65e5\u5747\u51c0\u6d41\u5165\u66fe\u9ad8\u8fbe 2 \u4ebf\u7f8e\u5143\uff0c\u800c\u5982\u4eca\u8f6c\u4e3a\u51c0\u6d41\u51fa\uff0c\u663e\u793a\u673a\u6784\u6295\u8d44\u8005\u6b63\u5728\u91cd\u65b0\u8bc4\u4f30\u52a0\u5bc6\u8d44\u4ea7\u7684\u98ce\u9669\u6536\u76ca\u6bd4\u3002\u8fd9\u79cd\u53d8\u5316\u5bf9\u5e02\u573a\u4fe1\u5fc3\u6784\u6210\u4e86\u8fdb\u4e00\u6b65\u6253\u51fb\u3002<\/p>\n

\u94fe\u4e0a\u6570\u636e\uff1a\u5e0c\u671b\u4e0e\u4e0d\u786e\u5b9a\u6027\u5e76\u5b58<\/h3>\n

\u94fe\u4e0a\u6570\u636e\u4e3a\u5e02\u573a\u63d0\u4f9b\u4e86\u4e00\u7ebf\u5e0c\u671b\u3002\u6839\u636e Glassnode \u7684\u5206\u6790\uff0c\u957f\u671f\u6301\u6709\u8005\uff08\u6301\u4ed3\u8d85\u8fc7\u4e00\u5e74\u7684\u6295\u8d44\u8005\uff09\u7684\u884c\u4e3a\u6b63\u5728\u53d1\u751f\u8f6c\u53d8\uff0c\u4ece\u6d3e\u53d1\u9636\u6bb5\u8f6c\u5411\u79ef\u7d2f\u9636\u6bb5\u3002\u622a\u81f3 3 \u6708 9 \u65e5\uff0c\u957f\u671f\u6301\u6709\u8005\u7684\u51c0\u6301\u4ed3\u53d8\u5316\uff08Net Position Change\uff09\u8f6c\u4e3a\u6b63\u503c\uff0c\u65e5\u5747\u6d41\u5165\u7ea6 5000 \u679a\u6bd4\u7279\u5e01\u3002\u5386\u53f2\u4e0a\uff0c\u8fd9\u4e00\u8d8b\u52bf\u7684\u8f6c\u53d8\u5f80\u5f80\u662f\u5e02\u573a\u4ece\u9876\u90e8\u8f6c\u5411\u5e95\u90e8\u7684\u53ef\u9760\u4fe1\u53f7\uff0c\u4f8b\u5982 2019 \u5e74\u521d\u548c 2020 \u5e74 3 \u6708\u7684\u5e95\u90e8\u5f62\u6210\u671f\u3002<\/p>\n

\"\u6bd4\u7279\u5e01\u518d\u6b21\u4e0b\u63a28\u4e07\u7f8e\u5143\uff0c\u5e95\u90e8\u5728\u54ea\uff1f\"<\/p>\n

\u7136\u800c\uff0c\u5f53\u524d\u60c5\u51b5\u4e0e\u4ee5\u5f80\u5468\u671f\u6709\u6240\u4e0d\u540c\u3002\u9996\u5148\uff0c\u4ef7\u683c\u4e0b\u964d\u53ef\u80fd\u662f\u7f13\u6162\u800c\u6301\u7eed\u7684\uff0c\u53ea\u6709\u5f53\u957f\u671f\u6301\u6709\u8005\u6301\u4ed3\u8fbe\u5230\u65b0\u9ad8\uff08\u4f8b\u5982\u8d85\u8fc7 70 \u4e07\u679a\uff09\u65f6\uff0c\u624d\u53ef\u80fd\u89e6\u53ca\u76f8\u5bf9\u5e95\u90e8\u3002\u5176\u6b21\uff0c\u73b0\u8d27 ETF \u7684\u5174\u8d77\u6539\u53d8\u4e86\u6301\u6709\u8005\u7ed3\u6784\u3002Arkham Intelligence \u6570\u636e\u663e\u793a\uff0cETF \u6301\u6709\u8005\u76ee\u524d\u63a7\u5236\u7ea6 4% \u7684\u6bd4\u7279\u5e01\u6d41\u901a\u4f9b\u5e94\uff08\u7ea6 84 \u4e07\u679a\uff09\uff0c\u800c\u4f20\u7edf\u94fe\u4e0a\u957f\u671f\u6301\u6709\u8005\u7684\u6bd4\u4f8b\u4ece 2023 \u5e74\u7684 65% \u964d\u81f3 60%\u3002\u8fd9\u53ef\u80fd\u524a\u5f31\u4f20\u7edf\u94fe\u4e0a\u6307\u6807\u7684\u9884\u6d4b\u80fd\u529b\u3002<\/p>\n

\u5c3d\u7ba1\u957f\u671f\u6301\u6709\u8005\u8f6c\u4e3a\u4e70\u5165\u6a21\u5f0f\u4ee4\u4eba\u632f\u594b\uff0c\u4f46\u76ee\u524d\u4ecd\u5904\u4e8e\u6d41\u5165\u521d\u671f\uff0c\u53cd\u8f6c\u7684\u53ef\u80fd\u6027\u5c1a\u672a\u6392\u9664\u3002\u5e02\u573a\u5e95\u90e8\u9884\u6d4b\u4ecd\u9700\u7ed3\u5408\u66f4\u591a\u5916\u90e8\u4fe1\u53f7\u52a0\u4ee5\u9a8c\u8bc1\u3002<\/p>\n

\u5386\u53f2\u5bf9\u6bd4\uff1a\u718a\u5e02\u7684\u5f02\u540c<\/h3>\n

\u56de\u987e\u5386\u53f2\uff0c\u5f53\u524d\u5e02\u573a\u4e0e 2018 \u5e74\u548c 2022 \u5e74\u718a\u5e02\u6709\u76f8\u4f3c\u4e4b\u5904\uff0c\u4f46\u4e5f\u5b58\u5728\u663e\u8457\u5dee\u5f02\u30022018 \u5e74\uff0c\u6bd4\u7279\u5e01\u4ece$20,000 \u8dcc\u81f3$3,200\uff0c\u8dcc\u5e45\u8d85 80%\uff0c\u4f34\u968f\u7740 ICO \u6ce1\u6cab\u7834\u88c2\u548c\u4ea4\u6613\u91cf\u840e\u7f29\uff1b2022 \u5e74\uff0c\u4ece$69,000 \u8dcc\u81f3$16,000\uff0c\u8dcc\u5e45\u7ea6 76%\uff0c\u53d7 FTX \u5d29\u76d8\u548c\u52a0\u606f\u5f71\u54cd\u3002\u800c\u5f53\u524d\uff0c\u6bd4\u7279\u5e01\u81ea\u9ad8\u70b9$82,000 \u4e0b\u8dcc\u7ea6 7%-13%\uff0c\u5e45\u5ea6\u8fdc\u672a\u8fbe\u5230\u5386\u53f2\u718a\u5e02\u6c34\u5e73\u3002<\/p>\n

\u76f8\u4f3c\u4e4b\u5904\u5728\u4e8e\u4ea4\u6613\u91cf\u4e0b\u964d\u548c\u5e02\u573a\u5206\u5316\u3002\u4f8b\u5982\uff0c2018 \u5e74 CEX \u6210\u4ea4\u989d\u4ece\u5cf0\u503c\u4e0b\u964d 70%\uff0c\u800c\u5f53\u524d\u4ec5\u4e0b\u964d 23.7%\u3002\u4e0d\u540c\u4e4b\u5904\u5728\u4e8e\u673a\u6784\u53c2\u4e0e\u5ea6\u548c ETF \u7684\u51fa\u73b0\uff0c\u8fd9\u4e3a\u5e02\u573a\u63d0\u4f9b\u4e86\u65b0\u7684\u7f13\u51b2\u673a\u5236\u3002\u56e0\u6b64\uff0c\u5f53\u524d\u6050\u614c\u53ef\u80fd\u662f\u8c03\u6574\u671f\u800c\u975e\u5168\u9762\u718a\u5e02\uff0c\u4f46\u82e5 ETF \u6d41\u51fa\u6301\u7eed\u6269\u5927\uff0c\u5386\u53f2\u60b2\u5267\u6216\u5c06\u91cd\u6f14\u3002<\/p>\n

\u5e02\u573a\u662f\u5426\u5df2\u6b65\u5165\u718a\u5e02\uff0c\u5c1a\u65e0\u5b9a\u8bba\u3002\u6280\u672f\u9762\u663e\u793a\u56de\u8c03\u98ce\u9669\u72b9\u5b58\uff0c$78,000 \u548c$75,000 \u7b49\u5173\u952e\u652f\u6491\u4f4d\u6b63\u63a5\u53d7\u8003\u9a8c\uff1b\u5b8f\u89c2\u5c42\u9762\uff0c\u5229\u597d\u53d7\u9650\u3001ETF \u6d41\u51fa\u52a0\u5267\uff0c\u673a\u6784\u53d9\u4e8b\u51cf\u5f31\uff1b\u94fe\u4e0a\u6570\u636e\u867d\u6697\u793a\u957f\u671f\u6301\u6709\u8005\u4fe1\u5fc3\u56de\u5347\uff0c\u4f46\u5e95\u90e8\u5c1a\u672a\u660e\u6717\u3002\u5f53\u524d\u6050\u614c\u6216\u8bb8\u662f\u66f4\u6df1\u5c42\u8c03\u6574\u7684\u524d\u5146\uff0c\u4e5f\u53ef\u80fd\u662f\u9ece\u660e\u524d\u7684\u9ed1\u6697\u3002<\/p>\n

\u5bf9\u4e8e\u6295\u8d44\u8005\u800c\u8a00\uff0c\u8c28\u614e\u4e3a\u4e0a\u3002\u6b63\u5982 Miles Deutscher \u6240\u8a00\uff1a\u300c\u8fd9\u662f\u4e00\u4e2a\u8f6e\u52a8\u5e02\u573a\uff0c\u6301\u5e01\u8005\u6b63\u5728\u88ab\u60e9\u7f5a\u3002\u300d\u4e0e\u5176\u8ffd\u9010\u77ed\u671f\u6ce2\u52a8\uff0c\u4e0d\u5982\u5173\u6ce8\u6280\u672f\u652f\u6491\u3001\u5b8f\u89c2\u52a8\u6001\u4e0e\u94fe\u4e0a\u4fe1\u53f7\u7684\u4ea4\u6c47\u3002\u501f\u9274\u6c83\u4f26\u00b7\u5df4\u83f2\u7279\u7684\u667a\u6167\u2014\u2014\u300c\u5728\u522b\u4eba\u6050\u60e7\u65f6\u8d2a\u5a6a\uff0c\u5728\u522b\u4eba\u8d2a\u5a6a\u65f6\u6050\u60e7\u300d\u2014\u2014\u5728\u52a0\u5bc6\u5e02\u573a\u7684\u60ca\u6d9b\u9a87\u6d6a\u4e2d\uff0c\u98ce\u9669\u7ba1\u7406\u4e0e\u957f\u671f\u89c6\u89d2\u624d\u662f\u751f\u5b58\u4e4b\u9053\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"

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