比特币供应危机迫在眉睫，减半迫在眉睫，外汇储备陷入困境

Bybit的最新报告表明，由于即将到来的减半事件，比特币当前的供应动态表明，交易所的供应量仅剩九个月。减半后，供应紧张预计将加剧，机构投资者积极应对这种稀缺性，认识到比特币作为类似于数字黄金的稀缺数字资产的地位。

Bitcoin Supply Squeeze: Halving Imminent, Exchange Reserves Dwindling

比特币供应紧张：减半迫在眉睫，外汇储备减少

Bybit, a renowned global crypto exchange, has unveiled a comprehensive report that paints an alarming picture of Bitcoin's dwindling supply on exchanges. This market trend, largely attributed to the impending Bitcoin halving, has far-reaching implications for the cryptocurrency's value and future trajectory.

全球知名加密货币交易所 Bybit 发布了一份综合报告，描绘了交易所比特币供应减少的令人震惊的景象。这种市场趋势主要归因于即将到来的比特币减半，对加密货币的价值和未来轨迹具有深远的影响。

Halving Intensifies Supply Squeeze

减半加剧供应紧张

The Bitcoin halving, a significant event scheduled for April 2024, will reduce the block reward for Bitcoin miners by 50%. This fundamental change in supply dynamics is expected to exacerbate the current supply squeeze on exchanges.

比特币减半是定于 2024 年 4 月举行的重大事件，届时比特币矿工的区块奖励将减少 50%。供应动态的这种根本性变化预计将加剧当前交易所的供应紧张。

As Bybit's report highlights, "Bitcoin reserves in all centralized exchanges have been depleting faster." With only 2 million bitcoins remaining in exchange reserves, the report estimates that a daily inflow of $500 million into Bitcoin spot exchange-traded funds (ETFs) would deplete exchange reserves within nine months.

正如 Bybit 的报告所强调的那样，“所有中心化交易所的比特币储备都在加速耗尽。”由于外汇储备中只剩下 200 万枚比特币，该报告估计，每天流入比特币现货交易所交易基金 (ETF) 的 5 亿美元将在 9 个月内耗尽外汇储备。

Bitcoin Rarer Than Gold

比特币比黄金还稀有

The diminishing supply of Bitcoin has profound implications for its value. According to the report, the halving will make Bitcoin "twice as rare as gold." The stock-to-flow (S2F) ratio, a measure of scarcity, is projected to double from its current value of 56 to 112 after the halving. This would make Bitcoin even more scarce than the precious metal, which boasts an S2F ratio of 60.

比特币供应量的减少对其价值产生了深远的影响。报告称，减半将使比特币“比黄金稀有两倍”。减半后，库存流量 (S2F) 比率（衡量稀缺性的指标）预计将从目前的 56 翻倍至 112。这将使比特币比贵金属更加稀缺，而贵金属的 S2F 比率为 60。

Institutional Investors Positioned

机构投资者定位

Recognizing the significance of this event, institutional investors have already begun to position themselves. The report notes that "institutional investors have been ahead of the curve and positioned for this event in advance, especially since the U.S. approval of Bitcoin spot ETFs."

认识到这一事件的重要性，机构投资者已经开始布局。报告指出，“机构投资者一直处于领先地位，并提前为这一事件做好了准备，特别是自美国批准比特币现货 ETF 以来。”

Bitcoin: Safe Haven for Investors

比特币：投资者的避风港

Against this backdrop, Bitcoin is emerging as a compelling investment choice even for the most sophisticated investors. The report underscores that "Bitcoin is becoming the safest investment choice even for the most sophisticated investors in the crypto field." This sentiment is bolstered by the persistent high price correlation between Bitcoin and other cryptocurrencies, as well as its status as the cryptocurrency with the lowest beta.

在这种背景下，即使对于最成熟的投资者来说，比特币也正在成为一种引人注目的投资选择。该报告强调，“即使对于加密领域最成熟的投资者来说，比特币也正在成为最安全的投资选择。”比特币与其他加密货币之间持续的高价格相关性及其作为贝塔系数最低的加密货币的地位增强了这种情绪。

Halving Catalyst for Scarcity

稀缺性减半催化剂

Ben Zhou, Co-Founder and CEO of Bybit, succinctly summarizes the transformative impact of the halving on Bitcoin's supply dynamics: "Each Bitcoin halving sharpens the narrative of Bitcoin as not just a currency, but a scarce digital asset, akin to digital gold. This upcoming halving in 2024 will thrust Bitcoin into an era of unprecedented scarcity, making it twice as rare as gold."

Bybit 联合创始人兼首席执行官周本简洁地总结了减半对比特币供应动态的变革性影响：“每次比特币减半都强化了比特币不仅是一种货币，而且是一种稀缺数字资产，类似于数字黄金的形象。即将到来的 2024 年减半将把比特币推入一个前所未有的稀缺时代，使其稀有程度是黄金的两倍。”

As the halving approaches, the implications for Bitcoin's value and market dominance become increasingly apparent. With shrinking exchange reserves and the backing of institutional investors, the cryptocurrency is poised to solidify its status as a unique and valuable asset in the global financial landscape.

随着减半的临近，对比特币价值和市场主导地位的影响变得越来越明显。随着外汇储备的萎缩和机构投资者的支持，加密货币有望巩固其作为全球金融格局中独特且有价值的资产的地位。