穩定幣交易所近期淨流量維持正值

鏈上數據顯示，交易所最近繼續收到穩定幣存款，這一跡象可能對比特幣和其他數位資產有利。

The price of Bitcoin has seen a strong recovery during the last few days, and the asset is now just shy of the $100,000 level. Several factors could be contributing to this rally, and one of them might be the stablecoin exchange netflows.

過去幾天，比特幣的價格強勁反彈，目前已接近 10 萬美元水準。有幾個因素可能促成了這次上漲，其中之一可能是穩定幣交易所的淨流量。

Related Reading | TA: Bitcoin Price Surges Past $95,000 Resistance, Door Open For Fresh High?

相關閱讀 | TA：比特幣價格飆升至 95,000 美元阻力位，新高之門已打開？

As highlighted by an analyst in a recent post, stablecoins have been flowing into exchanges, and this could be a bullish sign for BTC.

正如一位分析師在最近的一篇文章中所強調的那樣，穩定幣一直在流入交易所，這對 BTC 來說可能是一個看漲訊號。

Stablecoin Exchange Netflow Shows Inflows Continuing

穩定幣交易所淨流量顯示資金持續流入

As pointed out by the analyst in the CryptoQuant Quicktake post, stablecoins have been flowing into exchanges recently. The on-chain metric of relevance here is the “Exchange Netflow,” which keeps track of the net amount of a given asset that's moving into or out of the wallets associated with centralized platforms.

正如分析師在 CryptoQuant Quicktake 帖子中指出的那樣，穩定幣最近一直在流入交易所。這裡相關的鏈上指標是“交換淨流量”，它追蹤進出與中心化平台相關的錢包的給定資產的淨金額。

When the value of this metric is positive, it means the investors are making net deposits of the coin to exchanges. Such a trend suggests the holders want to trade the asset away.

當該指標的值為正數時，表示投資者正在向交易所淨存入代幣。這種趨勢顯示持有者希望將資產交易出去。

On the other hand, the indicator being negative implies investors prefer to hold onto the cryptocurrency, as they are taking their tokens off into self-custody. The implication of these trends for the wider sector and the asset itself can be different depending on the exact type of coin that’s witnessing the outflows/inflows.

另一方面，該指標為負意味著投資者更願意持有加密貨幣，因為他們正在將代幣進行自我託管。這些趨勢對更廣泛的行業和資產本身的影響可能會有所不同，具體取決於流出/流入的代幣的特定類型。

In the case of volatile assets like Bitcoin, a positive Netflow can be bearish for the price, as it means the holders are looking to sell. BTC also acts as one of the main transition points for capital in the sector as a whole, so it being sold can be a bad sign for the rest of the coins as well.

對於像比特幣這樣的波動性資產，正的淨流量可能對價格不利，因為這意味著持有者正在尋求出售。比特幣也是整個產業資本的主要過渡點之一，因此它的出售對其他代幣來說也可能是個壞兆頭。

Stablecoin deposits also imply traders want to sell them, but since their price always remains stable around the $1 mark, the selling has no 'bearish' effect on them.

穩定幣存款也意味著交易者想要出售它們，但由於其價格始終穩定在 1 美元附近，因此出售對他們沒有「看跌」影響。

Like Bitcoin, the stablecoins act as a gateway for capital into the sector. More particularly, investors invest their money into the stables whenever they want to avoid the volatility associated with other assets.

與比特幣一樣，穩定幣充當資本進入該行業的門戶。更具體地說，每當投資者想要避免與其他資產相關的波動時，他們就會將資金投資到馬厩。

Such holders usually eventually plan to delve into the volatile coins, and once they are ready, they transfer these fiat-tied tokens into exchanges to make the swap. This naturally acts as buying pressure for whatever asset that they are shifting to. As such, positive stablecoin Exchange Netflows are considered bullish for Bitcoin.

這些持有者通常最終計劃深入研究不穩定的代幣，一旦準備好，他們就會將這些與法定貨幣掛鉤的代幣轉移到交易所進行交換。這自然會對他們轉向的任何資產產生購買壓力。因此，積極的穩定幣交易淨流量被認為對比特幣有利。

Now, here is the chart shared by the quant that shows the recent trend in the Exchange Netflow for the stablecoins:

現在，以下是量化交易者分享的圖表，顯示了穩定幣交易所淨流量的最新趨勢：

The stablecoin exchange netflow has mostly been positive over the last few weeks, as highlighted by the graph. Bitcoin has been setting new record highs in conjunction with these inflows, so it's likely that these stablecoin deposits have been serving as fuel for the asset.

如圖所示，過去幾週穩定幣交易所的淨流量大多為正。隨著這些資金流入，比特幣一直創下新高，因此這些穩定幣存款很可能一直在充當該資產的燃料。

The indicator's value has remained strong recently, suggesting that investors may not be finished accumulating BTC. If the previous trend continues, the latest stablecoin inflows may extend the rally and eventually assist the asset in reaching the fabled $100,000 target.

該指標的價值最近仍然強勁，表明投資者可能尚未完成比特幣的累積。如果先前的趨勢持續下去，最新的穩定幣流入可能會延續漲勢，並最終幫助該資產達到傳說中的 10 萬美元目標。

Bitcoin Price

比特幣價格

Bitcoin had seen a plunge under the $96,000 level yesterday, but it appears the coin has already bounced back as its price is now trading around $98,400.

比特幣昨天暴跌至 96,000 美元以下，但似乎已經反彈，目前價格約為 98,400 美元。