Tether 的收購未能阻止比特幣價格下跌

最近有消息指出 Tether 大量購買比特幣（8,888 BTC），加密貨幣市場的價格令人驚訝地跌破了 70,000 美元。儘管Tether 持有大量BTC，但市場仍受到多種因素的影響，這些因素掩蓋了此次購買的影響，包括零售為主的交易所的清算、現貨比特幣ETF 的資金流出以及衍生品市場拋售壓力的增加。

Tether's Bitcoin Acquisition Fails to Halt Price Correction

Tether 收購比特幣未能阻止價格調整

Amidst a flurry of market volatility, a recent acquisition of 8,888 Bitcoin (BTC) by Tether, the world's largest stablecoin issuer, has sparked speculation within the crypto community. Counterintuitively, Bitcoin's price has declined following Tether's purchase, causing analysts to question the underlying factors driving the market.

在一系列市場波動中，全球最大的穩定幣發行商 Tether 最近收購了 8,888 個比特幣 (BTC)，引發了加密社群的猜測。與直覺相反的是，在 Tether 購買比特幣後，比特幣的價格已經下跌，導致分析師質疑推動市場的根本因素。

Data from Arkham Intelligence, a blockchain analysis platform, reveals that Tether's Bitcoin holdings now stand at a staggering 75,400 BTC. This substantial acquisition places Tether among the largest Bitcoin holders globally, surpassing even some of the most prominent crypto exchanges and Spot Bitcoin ETF issuers.

區塊鏈分析平台 Arkham Intelligence 的數據顯示，Tether 的比特幣持有量目前已達到驚人的 75,400 BTC。這項重大收購使 Tether 躋身全球最大的比特幣持有者之列，甚至超過了一些最著名的加密貨幣交易所和現貨比特幣 ETF 發行人。

In the past, Tether has expressed its intention to allocate a portion of its operational profits towards regular Bitcoin purchases for its stablecoin reserves. As a result, the recent acquisition comes as no surprise, reflecting the company's ongoing efforts to enhance the stability of its stablecoin offerings.

過去，Tether 曾表示打算將部分營運利潤用於定期購買比特幣，作為其穩定幣儲備。因此，最近的收購併不令人意外，這反映出該公司正在努力增強其穩定幣產品的穩定性。

However, to the dismay of many crypto enthusiasts, Bitcoin's price has tumbled below $70,000 in the wake of Tether's purchase. Typically, such a large-scale Bitcoin acquisition would be expected to buoy the cryptocurrency's price, but this time, it appears that other factors have overshadowed the positive impact of Tether's investment.

然而，令許多加密貨幣愛好者沮喪的是，在 Tether 收購後，比特幣的價格已跌至 7 萬美元以下。通常情況下，如此大規模的比特幣收購預計會提振加密貨幣的價格，但這一次，其他因素似乎掩蓋了 Tether 投資的正面影響。

Crypto trading firm QCP Capital has attributed the sharp price drop to "large liquidations on retail-heavy exchanges like Binance," causing perp funding rates to plummet from 77% to flat.

加密貨幣交易公司 QCP Capital 將價格大幅下跌歸因於“像幣安這樣的零售密集型交易所的大規模清算”，導致永久融資利率從 77% 暴跌至持平。

The decline has also been exacerbated by significant outflows from Grayscale's GBTC, a Spot Bitcoin ETF. On April 1 alone, GBTC experienced an outflow of $302.6 million, contributing to the combined net outflows of $85.7 million witnessed across these Bitcoin ETFs. This selling pressure has further weighed down on Bitcoin's price.

Grayscale 旗下現貨比特幣 ETF GBTC 的大量資金外流也加劇了跌勢。光是 4 月 1 日，GBTC 就經歷了 3.026 億美元的流出，導致這些比特幣 ETF 的淨流出總額達到 8,570 萬美元。這種拋售壓力進一步打壓了比特幣的價格。

The derivatives market has also played a role in the bear market sentiment, with bears firmly in control. Data from Coinglass indicates that $409 million has been liquidated from the market in the last 24 hours, with $328 million in long positions being liquidated during this period.

衍生性商品市場也對熊市情緒產生了影響，空頭牢牢控制著市場。 Coinglass 的數據顯示，在過去 24 小時內，市場已清算 4.09 億美元，其中多頭部位在此期間被清算 3.28 億美元。

At the time of writing, Bitcoin is trading around $66,500, down over 4% in the last 24 hours, according to CoinMarketCap.

根據 CoinMarketCap 的數據，截至撰寫本文時，比特幣交易價格約為 66,500 美元，在過去 24 小時內下跌超過 4%。

While Tether's Bitcoin acquisition had initially raised expectations of a price rally, the subsequent market correction highlights the complex interplay of factors that influence cryptocurrency prices. The ongoing liquidations, outflows from Grayscale's GBTC, and bearish sentiment in the derivatives market have overshadowed the positive impact of Tether's purchase, leading to a decline in Bitcoin's price.

儘管 Tether 收購比特幣最初引發了價格上漲的預期，但隨後的市場調整凸顯了影響加密貨幣價格的因素之間的複雜相互作用。持續的清算、Grayscale 的 GBTC 資金流出以及衍生性商品市場的看跌情緒掩蓋了 Tether 購買的正面影響，導致比特幣價格下跌。