隨著比特幣持有量達到歷史低點，投資者避開交易所

根據 CryptoQuant 最近的數據分析，比特幣在主要加密貨幣交易所的可訪問性已達到迄今為止的最低水平。過去一個月，已有超過 9 萬枚比特幣被撤回，顯示投資者長期保留比特幣的趨勢日益明顯。這種「冷儲存」運動受到了比特幣價格上漲、比特幣相關 ETF 的潛在批准以及即將到來的比特幣減半的影響。

Bitcoin Exchange Reserves Dwindle to All-Time Low as Investors Opt for Long-Term Holding

隨著投資者選擇長期持有，比特幣交易所儲備減少至歷史低點

Key Findings:

主要發現：

• Over 90,000 Bitcoin withdrawn from major cryptocurrency exchanges in the past month alone
• Bitcoin reserves on exchanges have declined by approximately 900,000 since July 2021
• Short-term holders absorb selling pressure from long-term holders as prices rise

Analysis:

光是過去一個月就有超過90,000 枚比特幣從主要加密貨幣交易所撤資自2021 年7 月以來，交易所的比特幣儲備已減少約900,000 枚，隨著價格上漲，短期持有者吸收了長期持有者的拋售壓力分析：

Data analysis firm CryptoQuant has revealed that Bitcoin's availability on major exchanges has plummeted to its lowest point ever. This unprecedented withdrawal trend suggests that an increasing number of investors are adopting a long-term hold strategy.

數據分析公司 CryptoQuant 透露，比特幣在主要交易所的可用性已跌至有史以來的最低點。這種前所未有的撤資趨勢表明，越來越多的投資者正在採取長期持有策略。

In the past month alone, over 90,000 Bitcoin have been transferred from exchanges, a significant amount that underscores the shift towards "cold storage" - the practice of storing Bitcoin in offline wallets for enhanced security. This trend has been unfolding over several years and is driven by a confluence of factors.

僅在過去一個月，就有超過 90,000 枚比特幣從交易所轉移，這一數字凸顯了向「冷儲存」的轉變——將比特幣存儲在離線錢包中以增強安全性的做法。這種趨勢已經持續了好幾年，並且是由多種因素共同推動的。

Firstly, the rising price of Bitcoin has encouraged investors to view it as a long-term store of value, similar to gold. Secondly, the potential approval of exchange-traded funds (ETFs) directly linked to Bitcoin has generated anticipation among institutional investors. Thirdly, the upcoming Bitcoin halving event, which reduces the number of newly mined Bitcoin by half, has further fueled long-term holding sentiment.

首先，比特幣價格的上漲鼓勵投資者將其視為類似於黃金的長期價值儲存手段。其次，與比特幣直接掛鉤的交易所交易基金（ETF）的潛在批准引起了機構投資者的期望。第三，即將到來的比特幣減半事件使新開採的比特幣數量減少一半，進一步刺激了長期持有情緒。

CryptoQuant's data, extending back to early 2021, depicts a steady decline in Bitcoin exchange reserves. In July 2021, reserves stood at approximately 2.8 million coins, a figure that has since dropped by nearly 900,000.

CryptoQuant 的數據可以追溯到 2021 年初，顯示比特幣交易儲備穩定下降。 2021 年 7 月，儲備量約為 280 萬枚，此後這一數字下降了近 90 萬枚。

However, despite the overall trend towards long-term holding, on-chain analysis platform Glassnode has identified a contrasting dynamic within the remaining exchange-traded Bitcoin. Their data indicates a recent shift, with long-term holders transferring coins to short-term holders.

然而，儘管整體趨勢是長期持有，但鏈上分析平台 Glassnode 發現，剩餘的交易所交易比特幣存在對比動態。他們的數據顯示了最近的轉變，長期持有者將代幣轉移給短期持有者。

"Historically, we've observed a tight supply situation," notes a recent Glassnode report. "Lately, we're witnessing a narrowing gap between long-term and short-term holder supply."

Glassnode 最近的一份報告指出：“從歷史上看，我們觀察到供應緊張的情況。” “最近，我們看到長期和短期持有者供應之間的差距正在縮小。”

Glassnode suggests that as prices rise and unrealized profits accumulate, long-term holders may be tempted to sell a portion of their holdings. This has led to an increase in short-term holder supply, which has absorbed the selling pressure from long-term holders, estimated at approximately 1.121 million Bitcoin.

Glassnode 表示，隨著價格上漲和未實現利潤積累，長期持有者可能會忍不住出售部分持股。這導致短期持有者供應量增加，從而吸收了長期持有者的拋售壓力，估計約為 1,12.1 萬比特幣。

Understanding the motivations of different investor groups is paramount for navigating the cryptocurrency market. While the prevailing trend indicates a sustained long-term belief in Bitcoin, the recent shift within exchange-traded coins signals potential short-term volatility.

了解不同投資者群體的動機對於駕馭加密貨幣市場至關重要。雖然當前趨勢表明人們對比特幣的長期信心持續存在，但交易所交易代幣最近的轉變預示著潛在的短期波動。

The ongoing Future of Digital Assets conference, hosted by Benzinga on November 19, will provide an invaluable platform for experts to delve into the intricate drivers influencing Bitcoin's price movements.

Benzinga 於 11 月 19 日主辦的數位資產未來會議將為專家提供一個寶貴的平台，讓他們深入研究影響比特幣價格走勢的複雜驅動因素。