比特幣供應危機迫在眉睫，減半迫在眉睫，外匯存底陷入困境

Bybit的最新報告表明，由於即將到來的減半事件，比特幣目前的供應動態表明，交易所的供應量僅剩九個月。減半後，供應緊張預計將加劇，機構投資者積極應對這種稀缺性，並認識到比特幣作為類似於數位黃金的稀缺數位資產的地位。

Bitcoin Supply Squeeze: Halving Imminent, Exchange Reserves Dwindling

比特幣供應緊張：減半迫在眉睫，外匯存底減少

Bybit, a renowned global crypto exchange, has unveiled a comprehensive report that paints an alarming picture of Bitcoin's dwindling supply on exchanges. This market trend, largely attributed to the impending Bitcoin halving, has far-reaching implications for the cryptocurrency's value and future trajectory.

全球知名加密貨幣交易所 Bybit 發布了一份綜合報告，描繪了交易所比特幣供應減少的令人震驚的景象。這種市場趨勢主要歸因於即將到來的比特幣減半，對加密貨幣的價值和未來軌跡具有深遠的影響。

Halving Intensifies Supply Squeeze

減半加劇供應緊張

The Bitcoin halving, a significant event scheduled for April 2024, will reduce the block reward for Bitcoin miners by 50%. This fundamental change in supply dynamics is expected to exacerbate the current supply squeeze on exchanges.

比特幣減半是定於 2024 年 4 月舉行的重大事件，屆時比特幣礦工的區塊獎勵將減少 50%。供應動態的這種根本性變化預計將加劇當前交易所的供應緊張。

As Bybit's report highlights, "Bitcoin reserves in all centralized exchanges have been depleting faster." With only 2 million bitcoins remaining in exchange reserves, the report estimates that a daily inflow of $500 million into Bitcoin spot exchange-traded funds (ETFs) would deplete exchange reserves within nine months.

正如 Bybit 的報告所強調的那樣，“所有中心化交易所的比特幣儲備都在加速耗盡。”由於外匯存底只剩下 200 萬枚比特幣，該報告估計，每天流入比特幣現貨交易所交易基金 (ETF) 的 5 億美元將在 9 個月內耗盡外匯存底。

Bitcoin Rarer Than Gold

比特幣比黃金還稀有

The diminishing supply of Bitcoin has profound implications for its value. According to the report, the halving will make Bitcoin "twice as rare as gold." The stock-to-flow (S2F) ratio, a measure of scarcity, is projected to double from its current value of 56 to 112 after the halving. This would make Bitcoin even more scarce than the precious metal, which boasts an S2F ratio of 60.

比特幣供應量的減少對其價值產生了深遠的影響。報告稱，減半將使比特幣「比黃金稀有兩倍」。減半後，庫存流量 (S2F) 比率（衡量稀缺性的指標）預計將從目前的 56 翻倍至 112。這將使比特幣比貴金屬更稀缺，而貴金屬的 S2F 比率為 60。

Institutional Investors Positioned

機構投資人定位

Recognizing the significance of this event, institutional investors have already begun to position themselves. The report notes that "institutional investors have been ahead of the curve and positioned for this event in advance, especially since the U.S. approval of Bitcoin spot ETFs."

認識到這一事件的重要性，機構投資者已經開始佈局。報告指出，“機構投資者一直處於領先地位，並提前為這一事件做好了準備，特別是自美國批准比特幣現貨 ETF 以來。”

Bitcoin: Safe Haven for Investors

比特幣：投資者的避風港

Against this backdrop, Bitcoin is emerging as a compelling investment choice even for the most sophisticated investors. The report underscores that "Bitcoin is becoming the safest investment choice even for the most sophisticated investors in the crypto field." This sentiment is bolstered by the persistent high price correlation between Bitcoin and other cryptocurrencies, as well as its status as the cryptocurrency with the lowest beta.

在這種背景下，即使對於最成熟的投資者來說，比特幣也正在成為一種引人注目的投資選擇。該報告強調，“即使對於加密領域最成熟的投資者來說，比特幣也正在成為最安全的投資選擇。”比特幣與其他加密貨幣之間持續的高價格相關性及其作為貝塔係數最低的加密貨幣的地位增強了這種情緒。

Halving Catalyst for Scarcity

稀缺性減半催化劑

Ben Zhou, Co-Founder and CEO of Bybit, succinctly summarizes the transformative impact of the halving on Bitcoin's supply dynamics: "Each Bitcoin halving sharpens the narrative of Bitcoin as not just a currency, but a scarce digital asset, akin to digital gold. This upcoming halving in 2024 will thrust Bitcoin into an era of unprecedented scarcity, making it twice as rare as gold."

Bybit 聯合創辦人兼執行長週本簡潔地總結了減半對比特幣供應動態的變革性影響：「每次比特幣減半都強化了比特幣不僅是一種貨幣，而且是一種稀缺數字資產，類似於數字黃金的形象。

As the halving approaches, the implications for Bitcoin's value and market dominance become increasingly apparent. With shrinking exchange reserves and the backing of institutional investors, the cryptocurrency is poised to solidify its status as a unique and valuable asset in the global financial landscape.

隨著減半的臨近，對比特幣價值和市場主導地位的影響變得越來越明顯。隨著外匯存底的萎縮和機構投資者的支持，加密貨幣有望鞏固其作為全球金融格局中獨特且有價值的資產的地位。