比特币交易所储备暴跌，表明长期持有趋势

比特币交易所储备已降至 2021 年初以来的最低水平，表明持有者行为转向长期存储。超过90,700 BTC已从主要交易所撤出，这表明该资产的流动性供应减少以及投资者长期持有BTC的趋势。这种资金外流与多年模式一致，尽管供应紧张，但 Glassnode 指出，由于价格上涨和未实现利润，投资者从长期持有者转向短期持有者。

Bitcoin Exchange Reserves Plummet, Signaling Long-Term Holding Trend

比特币交易所储备暴跌，表明长期持有趋势

In a significant development that could reshape the Bitcoin market, exchange reserves have dwindled to their lowest levels since early 2021, indicating a shift in investor behavior towards long-term storage.

这是一个可能重塑比特币市场的重大发展，交易所储备已减少至 2021 年初以来的最低水平，表明投资者行为转向长期存储。

According to data released by CryptoQuant, a leading cryptocurrency analytics firm, over 90,700 bitcoins have been withdrawn from major exchanges in the past month. This outflow is seen as a sign of reduced liquidity in the Bitcoin market and suggests that investors are increasingly opting to store their digital assets in cold storage, a more secure and long-term storage method.

根据领先的加密货币分析公司 CryptoQuant 发布的数据，过去一个月已有超过 90,700 枚比特币从主要交易所提现。这种资金外流被视为比特币市场流动性减少的迹象，表明投资者越来越多地选择将数字资产存储在冷存储中，这是一种更安全、更长期的存储方法。

Analysts attribute this trend to a combination of factors. One key driver is the rising price of Bitcoin, which has consistently appreciated over the past year. The approval of spot Bitcoin exchange-traded funds (ETFs) has also contributed to the allure of Bitcoin as a long-term investment, providing investors with easier access to the digital asset.

分析师将这一趋势归因于多种因素。一个关键驱动因素是比特币价格上涨，比特币在过去一年中持续升值。现货比特币交易所交易基金（ETF）的批准也增强了比特币作为长期投资的吸引力，为投资者提供了更容易获得数字资产的机会。

Additionally, the upcoming Bitcoin halving event, scheduled for 2024, is likely influencing investor sentiment. The halving, a pre-programmed event that reduces the supply of new bitcoins entering the market by 50%, is anticipated to further drive up the price of Bitcoin.

此外，即将于 2024 年举行的比特币减半事件可能会影响投资者的情绪。减半是一项预先设定的事件，将进入市场的新比特币供应量减少 50%，预计将进一步推高比特币的价格。

The data from CryptoQuant aligns with a multi-year trend of reduced Bitcoin exchange reserves. Since July 2021, when reserves peaked at around 2.8 million coins, there has been a steady decline to the current level of approximately 1.9 million coins.

CryptoQuant 的数据与多年来比特币交易储备减少的趋势相符。自 2021 年 7 月储备量达到约 280 万枚代币的峰值以来，一直稳步下降至目前约 190 万枚代币的水平。

However, despite the tightening of supply, a recent report from Glassnode, another leading cryptocurrency analytics firm, suggests a shift in the market dynamic. Glassnode's analysis indicates a shift from long-term to short-term holders.

然而，尽管供应收紧，另一家领先的加密货币分析公司 Glassnode 最近的一份报告表明，市场动态发生了变化。 Glassnode 的分析表明，持有者已从长期持有者转向短期持有者。

"Following a historical tightness in supply, the divergence between long and short-term holder supply has started closing," Glassnode reported. "Rising prices and increasing unrealized profits are prompting long-term holders to liquidate their assets."

Glassnode 报道称：“在供应历史性紧张之后，长期和短期持有者供应之间的差距已经开始缩小。” “价格上涨和未实现利润增加正在促使长期持有者变现其资产。”

The report also notes a surge in short-term holder supply by around 1.12 million bitcoins, suggesting that these investors are absorbing the selling pressure from long-term holders.

该报告还指出，短期持有者供应量激增约 112 万枚比特币，表明这些投资者正在吸收长期持有者的抛售压力。

On the macroeconomic front, Bitcoin's price has experienced a modest uptick of approximately 3.2% in the past 24 hours, trading at $68,265 as of 1:46 p.m. ET. However, it still trails about 10% behind its all-time high of $73,000 from mid-March.

在宏观经济方面，比特币的价格在过去 24 小时内小幅上涨约 3.2%，截至下午 1:46 交易价格为 68,265 美元。等。然而，与 3 月中旬以来的历史高点 73,000 美元相比，仍落后约 10%。

Market experts view the declining exchange reserves and shifting investor behavior as positive indicators for the long-term prospects of Bitcoin. Kurt Wuckert Jr., the Chief Bitcoin Historian at CoinGeek, likened Bitcoin to gold and cash, noting its resistance to regulatory suppression.

市场专家认为，外汇储备的下降和投资者行为的转变是比特币长期前景的积极指标。 CoinGeek 首席比特币历史学家 Kurt Wuckert Jr. 将比特币比作黄金和现金，并指出其对监管打压的抵制。

Joshua Petty, CEO of Ordinals Wallet, remains optimistic about Bitcoin's future, suggesting that it could evolve or serve as a base for digital cash even under regulatory challenges.

Ordinals Wallet 首席执行官约书亚·佩蒂 (Joshua Petty) 对比特币的未来仍然持乐观态度，认为即使面临监管挑战，它也可以发展或成为数字现金的基础。

The declining Bitcoin exchange reserves and the shift towards long-term holding are significant developments that could shape the market dynamics of Bitcoin in the coming months and years. Investors and enthusiasts alike will continue to monitor these trends closely as they seek to navigate the ever-evolving cryptocurrency landscape.

比特币交易储备的下降和向长期持有的转变是重大发展，可能会在未来几个月和几年内塑造比特币的市场动态。投资者和爱好者将继续密切关注这些趋势，以应对不断变化的加密货币格局。