比特幣交易所鯨魚比率觸及 2022 年 11 月以來的最高值，BTC 價格走勢看起來看跌

根據價格走勢數據，10 月的最後兩週是比特幣價格史上最看漲的時期。然而，為什麼這不是故事

The price of Bitcoin has failed to capitalize on its recent bullish momentum, falling to as low as $65,000 at some point in the past week. This lackluster performance has left many investors wondering why the بازار ارز دیجیتال’s strongest bullish period—the last two weeks of October—hasn’t been the story for BTC over the past two weeks.

比特幣的價格未能利用近期的看漲勢頭，在過去一周的某個時間點跌至 65,000 美元。這種低迷的表現讓許多投資者想知道，為什麼 10 月的最後兩週——巴貝多最強勁的看漲期——在過去兩周里卻沒有成為 BTC 的故事。

An interesting observation from the on-chain analysis front might provide some insight into this matter.

來自鏈上分析前沿的有趣觀察可能會為此事提供一些見解。

On-chain data now shows that the Bitcoin “Exchange Whale Ratio” has seen a notable surge in recent weeks. This metric measures the ratio between the sum of the top 10 largest transfers into centralized exchanges and the total exchange inflow.

現在鏈上數據顯示，比特幣「交易所鯨魚比率」在最近幾週出現了顯著飆升。此指標衡量中心化交易所前 10 筆最大轉帳總和與交易所總流入量之間的比率。

To provide some context, it is assumed that the 10 largest inflows into exchanges are executed by whales, which are entities that wield significant influence on the market due to their substantial crypto holdings. The Exchange Whale Ratio essentially assesses the level of activity of this cohort of investors compared to the rest of the market.

為了提供一些背景信息，假設流入交易所的 10 筆最大資金是由鯨魚執行的，這些鯨魚是由於持有大量加密貨幣而對市場產生重大影響的實體。交易所鯨魚比率本質上是評估這群投資者與市場其他投資者相比的活動水平。

A high Exchange Whale Ratio indicates that the top 10 largest exchange inflows dwarves the incoming transfers from the rest of the market. On the other hand, when the value of this metric is low, it suggests that the whales only make up a relatively healthy part of funds flowing into centralized exchanges.

高交易所鯨魚比率顯示前 10 名最大的交易所流入量使來自市場其他部分的傳入轉帳相形見絀。另一方面，當該指標的值較低時，表示鯨魚僅佔流入中心化交易所的資金中相對健康的部分。

According to data from CryptoQuant, the seven-day moving average of Bitcoin’s Exchange Whale Ratio hit its highest value since November 2022 recently.

根據CryptoQuant數據顯示，近期比特幣交易巨鯨比率7日均線觸及2022年11月以來最高值。

The Quicktake analyst pointed out that the spike in this metric could be bearish for the value of the flagship cryptocurrency. This is because the metric implies that whales might be putting a significant amount of selling pressure on the market.

Quicktake 分析師指出，該指標的飆升可能對旗艦加密貨幣的價值不利。這是因為該指標意味著鯨魚可能會給市場帶來巨大的拋售壓力。

Inflows into centralized exchanges typically have a bearish impact on the Bitcoin price, as selling is one of the services offered by these platforms. Moreover, whales moving their funds to trading platforms can set off a sell-off cascade, as other investors often watch their moves due to their market influence.

流入中心化交易所通常會對比特幣價格產生看跌影響，因為出售是這些平台提供的服務之一。此外，鯨魚將資金轉移到交易平台可能會引發一連串拋售，因為其他投資者經常因其市場影響力而關注他們的舉動。

At the time of writing, the price of Bitcoin is trading around $66,700, which reflects an almost 2% decline in the past 24 hours. This single-day performance underscores how sluggish the premier cryptocurrency has been in recent days. According to CoinGecko data, the price of BTC is down by over 3% in the past week.

截至撰寫本文時，比特幣價格約為 66,700 美元，在過去 24 小時內下跌了近 2%。這一單日表現凸顯了這種主要加密貨幣最近幾天的低迷程度。根據CoinGecko數據，過去一周BTC價格下跌超過3%。