比特幣交易所儲備暴跌，顯示長期持有趨勢

比特幣交易所儲備已降至 2021 年初以來的最低水平，表明持有者行為轉向長期儲存。超過90,700 BTC已從主要交易所撤出，顯示該資產的流動性供應減少以及投資者長期持有BTC的趨勢。這種資金外流與多年模式一致，儘管供應緊張，但 Glassnode 指出，由於價格上漲和未實現利潤，投資者從長期持有者轉向短期持有者。

Bitcoin Exchange Reserves Plummet, Signaling Long-Term Holding Trend

比特幣交易所儲備暴跌，顯示長期持有趨勢

In a significant development that could reshape the Bitcoin market, exchange reserves have dwindled to their lowest levels since early 2021, indicating a shift in investor behavior towards long-term storage.

這是一個可能重塑比特幣市場的重大發展，交易所儲備已減少至 2021 年初以來的最低水平，顯示投資者行為轉向長期儲存。

According to data released by CryptoQuant, a leading cryptocurrency analytics firm, over 90,700 bitcoins have been withdrawn from major exchanges in the past month. This outflow is seen as a sign of reduced liquidity in the Bitcoin market and suggests that investors are increasingly opting to store their digital assets in cold storage, a more secure and long-term storage method.

根據領先的加密貨幣分析公司 CryptoQuant 發布的數據，過去一個月已有超過 90,700 枚比特幣從主要交易所提領。這種資金外流被視為比特幣市場流動性減少的跡象，表明投資者越來越多地選擇將數位資產儲存在冷儲存中，這是一種更安全、更長期的儲存方法。

Analysts attribute this trend to a combination of factors. One key driver is the rising price of Bitcoin, which has consistently appreciated over the past year. The approval of spot Bitcoin exchange-traded funds (ETFs) has also contributed to the allure of Bitcoin as a long-term investment, providing investors with easier access to the digital asset.

分析師將這一趨勢歸因於多種因素。一個關鍵驅動因素是比特幣價格上漲，比特幣在過去一年中持續升值。現貨比特幣交易所交易基金（ETF）的批准也增強了比特幣作為長期投資的吸引力，為投資者提供了更容易獲得數位資產的機會。

Additionally, the upcoming Bitcoin halving event, scheduled for 2024, is likely influencing investor sentiment. The halving, a pre-programmed event that reduces the supply of new bitcoins entering the market by 50%, is anticipated to further drive up the price of Bitcoin.

此外，即將於 2024 年舉行的比特幣減半事件可能會影響投資者的情緒。減半是一項預先設定的事件，將進入市場的新比特幣供應量減少 50%，預計將進一步推高比特幣的價格。

The data from CryptoQuant aligns with a multi-year trend of reduced Bitcoin exchange reserves. Since July 2021, when reserves peaked at around 2.8 million coins, there has been a steady decline to the current level of approximately 1.9 million coins.

CryptoQuant 的數據與多年來比特幣交易儲備減少的趨勢相符。自 2021 年 7 月儲備量達到約 280 萬枚代幣的峰值以來，一直穩步下降至目前約 190 萬枚代幣的水平。

However, despite the tightening of supply, a recent report from Glassnode, another leading cryptocurrency analytics firm, suggests a shift in the market dynamic. Glassnode's analysis indicates a shift from long-term to short-term holders.

然而，儘管供應收緊，另一家領先的加密貨幣分析公司 Glassnode 最近的一份報告表明，市場動態發生了變化。 Glassnode 的分析表明，持有者已從長期持有者轉向短期持有者。

"Following a historical tightness in supply, the divergence between long and short-term holder supply has started closing," Glassnode reported. "Rising prices and increasing unrealized profits are prompting long-term holders to liquidate their assets."

Glassnode 報導：“在供應歷史性緊張之後，長期和短期持有者供應之間的差距已經開始縮小。” “價格上漲和未實現利潤增加正在促使長期持有者變現其資產。”

The report also notes a surge in short-term holder supply by around 1.12 million bitcoins, suggesting that these investors are absorbing the selling pressure from long-term holders.

該報告還指出，短期持有者供應量激增約 112 萬枚比特幣，顯示這些投資者正在吸收長期持有者的拋售壓力。

On the macroeconomic front, Bitcoin's price has experienced a modest uptick of approximately 3.2% in the past 24 hours, trading at $68,265 as of 1:46 p.m. ET. However, it still trails about 10% behind its all-time high of $73,000 from mid-March.

在宏觀經濟方面，比特幣的價格在過去 24 小時內小幅上漲約 3.2%，截至下午 1:46 交易價格為 68,265 美元。等。然而，與 3 月中旬以來的歷史高點 73,000 美元相比，仍落後約 10%。

Market experts view the declining exchange reserves and shifting investor behavior as positive indicators for the long-term prospects of Bitcoin. Kurt Wuckert Jr., the Chief Bitcoin Historian at CoinGeek, likened Bitcoin to gold and cash, noting its resistance to regulatory suppression.

市場專家認為，外匯存底的下降和投資者行為的轉變是比特幣長期前景的正面指標。 CoinGeek 首席比特幣歷史學家 Kurt Wuckert Jr. 將比特幣比作黃金和現金，並指出其對監管打壓的抵制。

Joshua Petty, CEO of Ordinals Wallet, remains optimistic about Bitcoin's future, suggesting that it could evolve or serve as a base for digital cash even under regulatory challenges.

Ordinals Wallet 執行長 Joshua Petty 對比特幣的未來仍然持樂觀態度，認為即使面臨監管挑戰，它也可以發展或成為數位現金的基礎。

The declining Bitcoin exchange reserves and the shift towards long-term holding are significant developments that could shape the market dynamics of Bitcoin in the coming months and years. Investors and enthusiasts alike will continue to monitor these trends closely as they seek to navigate the ever-evolving cryptocurrency landscape.

比特幣交易儲備的下降和向長期持有的轉變是重大發展，可能會在未來幾個月和幾年內塑造比特幣的市場動態。投資者和愛好者將繼續密切關注這些趨勢，以應對不斷變化的加密貨幣格局。