交易所枯竭，比特幣供應危機迫在眉睫

Bybit的報告預測，由於2024年即將到來的比特幣減半事件，比特幣在九個月內的交易所供應將受到嚴重限制。由於中心化交易所僅持有 200 萬枚比特幣，比特幣現貨 ETF 每日流出約 7,142 枚比特幣可能會在短短 9 個月內耗盡這些儲備。這種稀缺性預計將增加比特幣的市場價值，減半後其庫存流量比將飆升至 112，超過黃金的稀缺性。

Bitcoin Supply Constraint Looms as Exchanges Face Depletion of Reserves

隨著交易所面臨儲備耗盡，比特幣供應緊張迫在眉睫

New York, April 17, 2024 - Bybit, a leading cryptocurrency exchange, has released a comprehensive report that unveils a substantial decline in Bitcoin reserves held by centralized exchanges worldwide, pointing towards a severe supply constraint in the upcoming months. This shortage is anticipated to intensify following the highly anticipated Bitcoin halving event expected to occur in 2024.

紐約，2024 年 4 月 17 日 - 領先的加密貨幣交易所 Bybit 發布了一份綜合報告，揭示了全球中心化交易所持有的比特幣儲備大幅下降，表明未來幾個月供應將面臨嚴重限制。隨著備受期待的比特幣減半事件預計將於 2024 年發生，這種短缺預計將加劇。

The halving event, which occurs approximately every four years, reduces Bitcoin mining rewards by 50%. This significant decrease in the supply of newly minted Bitcoin is projected to escalate its scarcity, as evidenced by the dwindling reserves on exchanges.

減半事件大約每四年發生一次，使比特幣挖礦獎勵減少 50%。新鑄造的比特幣供應量的大幅減少預計將加劇其稀缺性，而交易所儲備的減少就證明了這一點。

According to Bybit's report, the remaining Bitcoin reserves on centralized exchanges globally have dwindled to a mere 2 million. With the continuous inflow of Bitcoin into Spot Exchange-Traded Funds (ETFs), averaging approximately $500 million daily, an estimated 7,142 bitcoins are expected to be withdrawn from exchanges on a daily basis.

根據Bybit的報告，全球中心化交易所的剩餘比特幣儲備已減少至僅200萬枚。隨著比特幣持續流入現貨交易所交易基金（ETF），平均每天約 5 億美元，預計每天將從交易所提取 7,142 枚比特幣。

At this rate of depletion, the report predicts that the remaining reserves could be exhausted within the next nine months. This impending supply constraint is expected to have significant implications for the market value of Bitcoin, potentially triggering an upswing due to its increased scarcity.

按照這樣的消耗速度，報告預測剩餘的儲備可能會在未來九個月內耗盡。這種即將到來的供應限制預計將對比特幣的市場價值產生重大影響，由於其稀缺性增加，可能會引發上漲。

Bybit's analysis incorporates the Stock-to-Flow (S2F) ratio, a metric that evaluates the scarcity of a commodity by comparing its current circulation to its yearly production. Prior to the halving event, Bitcoin's S2F ratio stands at approximately 56, similar to that of gold (60). However, post-halving, this ratio is projected to surge to 112, surpassing gold's scarcity and further enhancing Bitcoin's allure as a "digital gold."

Bybit 的分析納入了庫存流量 (S2F) 比率，該指標透過將商品的當前流通量與其年產量進行比較來評估商品的稀缺性。在減半事件之前，比特幣的 S2F 比率約為 56，與黃金 (60) 相似。然而，減半後，這一比率預計將飆升至112，超越黃金的稀缺性，並進一步增強比特幣作為「數位黃金」的吸引力。

"This forthcoming halving event will not only reduce the supply of Bitcoin but also solidify its prominence among digital assets, akin to gold," said Ben Zhou, Co-Founder and CEO of Bybit. "The increasing scarcity underscores Bitcoin's value proposition, particularly in the eyes of institutional investors who have shown growing interest in Bitcoin following the regulatory approval of Bitcoin Spot ETFs in the United States."

Bybit 聯合創始人兼執行長週本表示：“即將到來的減半事件不僅會減少比特幣的供應量，還會鞏固其在類似於黃金的數位資產中的地位。” “日益稀缺凸顯了比特幣的價值主張，特別是在機構投資者眼中，在美國監管機構批准比特幣現貨 ETF 後，他們對比特幣表現出越來越大的興趣。”

The report further highlights the persistent high correlation between Bitcoin and other cryptocurrencies, indicating that Bitcoin remains a bellwether for the broader cryptocurrency market.

該報告進一步強調了比特幣與其他加密貨幣之間持續的高度相關性，表明比特幣仍然是更廣泛的加密貨幣市場的領導者。

The exact timing of the Bitcoin halving event is projected to occur during the night between April 19th and 20th. As the halving approaches, investors are closely monitoring the evolving supply dynamics and its potential implications for the cryptocurrency market.

比特幣減半事件的確切時間預計將發生在 4 月 19 日至 20 日夜間。隨著減半的臨近，投資者正在密切關注不斷變化的供應動態及其對加密貨幣市場的潛在影響。