比特幣美國與其他國家的準備率最近飆升

鏈上數據顯示，美國平台最近的比特幣儲備主導地位飆升至歷史新高（ATH）。

On-chain data reveals that the Bitcoin reserve dominance of US-based platforms has recently spiked to an all-time high (ATH). Here's a breakdown of the observation and its potential implications.

鏈上數據顯示，美國平台的比特幣儲備主導地位最近已飆升至歷史新高（ATH）。以下是觀察結果及其潛在影響的詳細分析。

Bitcoin US To The Rest Reserve Ratio Shows A Clear Trend

比特幣美國與其他國家的準備率顯示出明顯的趨勢

As highlighted by CryptoQuant founder and CEO Ki Young Ju in a new post on X, the platforms based in the US have seen their Bitcoin dominance grow recently.

正如 CryptoQuant 創始人兼執行長 Ki Young Ju 在 X 上的一篇新文章中所強調的那樣，總部位於美國的平台最近的比特幣主導地位不斷增強。

The on-chain indicator that showcases this trend is the “US to The Rest Reserve Ratio.” This metric tracks the ratio between the BTC holdings of the American platforms and that of the offshore platforms.

顯示這一趨勢的鏈上指標是「美國與其他國家的準備率」。該指標追蹤美國平台和離岸平台持有的比特幣之間的比率。

The ‘platforms’ being considered here include not just the exchanges, but also the other large entities like spot exchange-traded funds (ETFs).

這裡考慮的「平台」不僅包括交易所，還包括現貨交易所交易基金（ETF）等其他大型實體。

When the value of this metric decreases, it signifies a transfer of coins from the American platforms to foreign ones. On the other hand, an increase in the indicator suggests that the US-based entities are gaining dominance.

當該指標的數值下降時，就意味著代幣從美國平台轉移到外國平台。另一方面，該指標的上升表明美國實體正在獲得主導地位。

With that in mind, here's a chart that showcases the trend in the Bitcoin US to The Rest Reserve Ratio over the past decade:

考慮到這一點，下面的圖表顯示了過去十年美國比特幣與其他儲備金比率的趨勢：

The chart above shows that the Bitcoin US to The Rest Reserve Ratio fell below the 1 mark during the 2022 bear market. This indicated that the American platforms held a smaller share of the BTC supply compared to the offshores entities.

上圖顯示，2022 年熊市期間，美國比特幣與其他國家的儲備金比率跌破 1 大關。這表明，與離岸實體相比，美國平台在 BTC 供應中所佔份額較小。

The indicator went on to consolidate sideways around its lows during 2023, but towards the end of the year, the trend finally shifted again, with the metric starting on a rise this time.

該指標繼續在 2023 年的低點附近橫盤整理，但到了年底，趨勢終於再次轉變，這次指標開始上升。

2024 then saw the indicator shoot back above the 1 level with a sharp surge. This trajectory of rapid increase continued throughout the year, except for a phase in the middle that coincided with the sideways movement in BTC's price.

2024 年，該指標急劇飆升，回到 1 水平上方。這種快速增長的軌跡全年持續，除了中間的一個階段與比特幣價格的橫盤走勢一致。

The reason behind this rotation of tokens into the wallets associated with US-based platforms could be partially attributed to the introduction of spot ETFs in the US at the start of 2024.

代幣輪流進入與美國平台相關的錢包背後的原因可能部分歸因於 2024 年初在美國引入現貨 ETF。

These ETFs quickly became a popular alternate means of exposure into BTC's price action, and their presence might have contributed to the increase in on-exchange holdings.

這些 ETF 很快就成為了解 BTC 價格走勢的流行替代手段，它們的存在可能有助於增加交易所持股。

Following the latest continuation of this rise, the Bitcoin US to The Rest Reserve Ratio has now reached a new ATH, indicating that the American entities hold 65% more BTC than the foreign ones.

繼最新的上漲之後，美國比特幣與其他國家的儲備金比率現已達到新的 ATH，這表明美國實體持有的 BTC 比外國實體多 65%。

In the current bull cycle, a growth in US dominance has been observed to be bullish for the asset’s price so far, just like it was during the 2021 bull market. Thus, this indicator may be one to keep an eye on in the near future, as any further increases in it might also lead to positive price action for the cryptocurrency.

在當前的牛市週期中，迄今為止，美國主導地位的成長被認為對該資產的價格有利，就像 2021 年牛市期間一樣。因此，該指標可能是近期值得關注的指標，因為該指標的任何進一步上漲也可能導致加密貨幣的積極價格走勢。

BTC PriceA glance at BTC's price over the last 24 hours shows that the coin has only continued its recent bearish momentum. Its price has now dropped to $92,700 during this period.

BTC 價格 過去 24 小時內 BTC 的價格顯示，該代幣只是延續了近期的看跌勢頭。在此期間其價格現已降至 92,700 美元。