貝萊德的 BTC 轉移：戰略博弈還是拋售？

比特幣最近上漲超過 10 萬美元，重新點燃了機構和散戶投資者的熱情。然而，有報道稱貝萊德將價值超過 100 億美元的 10 萬枚比特幣轉移到 29 個不同的錢包，市場面臨動盪。

Institutional investors are keeping a close watch on BlackRock’s recent transfer of 100,000 BTC from a single address to 29 separate wallets. The move has sparked speculation about the world’s largest asset manager preparing to sell its BTC holdings.

機構投資者正在密切關注貝萊德最近從一個地址向 29 個獨立錢包轉移 100,000 BTC 的情況。此舉引發了全球最大資產管理公司準備出售其持有的比特幣的猜測。

However, a closer examination of the on-chain activity reveals a more nuanced scenario.

然而，對鏈上活動的仔細檢查揭示了更微妙的情況。

BlackRock’s BTC holdings, valued at over $10 billion at current prices, have been the subject of intense interest ever since the asset manager began disclosing its crypto holdings with the U.S. Securities and Exchange Commission.

貝萊德持有的 BTC 以當前價格計算價值超過 100 億美元，自從該資產管理公司開始向美國證券交易委員會披露其加密貨幣持有量以來，該公司一直備受關注。

While BlackRock has not officially commented on the recent BTC transfers, the activity has raised flags, considering that past large-scale sell-offs by institutions have resulted in sharp sell-offs in the crypto market.

儘管貝萊德尚未對最近的比特幣轉移正式發表評論，但考慮到機構過去的大規模拋售導致加密貨幣市場大幅拋售，這一活動已經引起了警惕。

For example, the sell-off of Mt. Gox’s BTC holdings in 2018 led to a 30% drop in Bitcoin’s price over a month.

例如，2018 年 Mt. Gox 拋售持有的 BTC，導致比特幣價格在一個月內下跌 30%。

However, a closer analysis of BlackRock’s BTC transfers suggests that the intention may not be an immediate sell-off. The distribution of the BTC into 29 wallets and the lack of any counterparty addresses indicate that BlackRock may be preparing for something else.

然而，對貝萊德的比特幣轉移的仔細分析表明，其意圖可能並不是立即拋售。 BTC 被分配到 29 個錢包中，並且沒有任何交易對手地址，這表明貝萊德可能正在為其他事情做準備。

Independent crypto analyst Symbiote has suggested that BlackRock may be preparing to capitalize on the record profits or setting the stage for some market manipulation.

獨立加密貨幣分析師 Symbiote 表示，貝萊德可能正準備利用創紀錄的利潤或為某些市場操縱奠定基礎。

The comparison to Mt. Gox is particularly relevant because even a smaller sell-off can amplify panic in a bullish market.

與 Mt. Gox 的比較尤其重要，因為即使是較小的拋售也會加劇牛市中的恐慌。

Bitcoin has shown resilience above the $100,000 threshold, with bullish sentiment outweighing bearish pressure. However, retail investors who recently joined the BTC bandwagon could succumb to FUD and sell their positions, further exacerbating the selling pressure against the token.

比特幣在 10 萬美元大關上方表現出韌性，看漲情緒超過看跌壓力。然而，最近加入比特幣潮流的散戶投資者可能會屈服於 FUD 並出售其頭寸，從而進一步加劇對該代幣的拋售壓力。

Institutions’ BTC Sell-Offs and Impact on Price

機構拋售BTC及其對價格的影響

Historical data shows that BlackRock’s previous significant BTC sell-offs were followed by an immediate 15-20% correction. However, these moves eventually stabilized as institutions re-entered the market, seeing lower prices as a buying opportunity.

歷史數據顯示，貝萊德先前大幅拋售 BTC 後立即出現了 15-20% 的回檔。然而，隨著機構重新進入市場，將價格下跌視為買進機會，這些走勢最終趨於穩定。

For example, institutions began selling their BTC holdings in March 2021, leading to a 15% correction in Bitcoin’s price over a week. But the token recovered and continued rising, eventually reaching a new all-time high in April 2021.

例如，機構於 2021 年 3 月開始出售其持有的 BTC，導致比特幣價格在一周內回調 15%。但代幣恢復並持續上漲，最終在 2021 年 4 月創下歷史新高。

Similarly, another round of institutional sell-offs occurred in January 2022, which was followed by a 20% correction in BTC’s price. However, the token price recovered and rose again, reaching the $40,000 level in March 2022.

同樣，2022 年 1 月發生了另一輪機構拋售，隨後 BTC 價格回調了 20%。然而，代幣價格恢復並再次上漲，於 2022 年 3 月達到 40,000 美元的水平。