比特币 (BTC) 逼近历史高点 71,000 美元 –（纽约）散户观望

比特币正逼近历史高点，徘徊在 71,000 美元附近，但这一涨势因散户交易员的明显缺席而黯然失色。

Bitcoin is nearing its record high, trading close to $71,000, but this rally is notably lacking in retail participation.

比特币正接近历史新高，交易价格接近 71,000 美元，但这次反弹明显缺乏散户参与。

Coinbase reported that a decline in retail trading contributed to lower-than-expected revenue for Q3.

Coinbase 报告称，零售交易下降导致第三季度收入低于预期。

“This year in particular, there was a lot of negative sentiment which likely deterred traders,” said Adam Morgan McCarthy, an analyst at data firm Kaiko.

数据公司 Kaiko 的分析师亚当·摩根·麦卡锡 (Adam Morgan McCarthy) 表示：“尤其是今年，出现了很多负面情绪，这可能会让交易者望而却步。”

The exchange warned that the volatility in crypto prices during October could pose further challenges in the upcoming quarter.

该交易所警告称，10 月份加密货币价格的波动可能会给下一季度带来进一步的挑战。

Despite Bitcoin’s ascent, Coinbase now expects Q4 revenue from its subscription and services unit to be in the range of $505 million to $580 million, a 7% decline from Q3. This projection is influenced by a 10% decline in Ethereum prices compared to the Q3 average, and lower interest rates.

尽管比特币价格上涨，Coinbase 目前预计第四季度订阅和服务部门的收入将在 5.05 亿美元至 5.8 亿美元之间，比第三季度下降 7%。这一预测受到以太坊价格与第三季度平均水平相比下降 10% 以及较低利率的影响。

The muted retail participation is evident, as many investors remain hesitant to engage in crypto trading. Coinbase’s forecast, coupled with missed earnings targets, led to a 9% drop in its shares on Thursday.

散户参与度低迷是显而易见的，因为许多投资者仍然对参与加密货币交易犹豫不决。 Coinbase 的预测，加上未达到的盈利目标，导致其股价周四下跌 9%。

The crypto landscape has seen a significant influx of larger institutional investors, which has resulted in a 40% reduction in Bitcoin’s volatility from 2020 to September, according to data from Volmex.

Volmex 的数据显示，大型机构投资者大量涌入加密货币领域，导致 2020 年至 9 月比特币的波动性下降了 40%。

Morgan McCarthy pointed out that recent major selling events, including actions from the German government and bankrupt firms such as Mt. Gox, have compounded the prevailing pessimism.

摩根·麦卡锡指出，最近发生的重大抛售事件，包括德国政府和 Mt. Gox 等破产公司的行动，加剧了普遍的悲观情绪。

It’s not just Coinbase feeling the impact. PayPal reported an almost 11% decrease in the amount of cryptocurrency it holds on behalf of customers from Q2 to Q3, despite Bitcoin’s price increase during that timeframe.

感受到影响的不仅仅是 Coinbase。 PayPal 报告称，从第二季度到第三季度，尽管比特币价格上涨，但其代表客户持有的加密货币数量减少了近 11%。

This trend highlights the growing dominance of institutional investors in the market, with research by CryptoQuant indicating that demand for Bitcoin spot ETFs from so-called “whales” is now twice that of retail investors.

这一趋势凸显了机构投资者在市场上日益占据的主导地位，CryptoQuant 的研究表明，所谓的“鲸鱼”对比特币现货 ETF 的需求现在是散户投资者的两倍。

Nevertheless, there are signs of resilience in the retail trading sector. “We’ve seen volumes bounce back somewhat,” McCarthy noted, adding that Bitcoin trading volumes on Coinbase have increased at a faster rate than on Binance, suggesting that retail interest may not be entirely extinguished.

尽管如此，零售贸易领域还是出现了复苏的迹象。麦卡锡指出：“我们已经看到交易量有所回升。”他补充说，Coinbase 上的比特币交易量增长速度快于币安，这表明散户兴趣可能不会完全消失。