链上数据显示币安上的比特币净流量近期已转为负值。这对资产价格可能意味着什么

在 CryptoQuant Quicktake 帖子中，一位分析师讨论了币安平台比特币交易净流的 14 天简单移动平均线 (SMA) 的趋势。

The metric, which shows the net flow of a cryptocurrency into or out of exchange wallets, has turned negative for Bitcoin on Binance recently.

该指标显示了加密货币流入或流出交易所钱包的净流量，最近币安上的比特币走势为负。

As per a recent CryptoQuant analysis, the 14-day simple moving average (SMA) of the Bitcoin Exchange Netflow for Binance (computed using 144-block intervals) has dropped into the negative territory.

根据最近的 CryptoQuant 分析，币安比特币交易净流的 14 天简单移动平均线 (SMA)（使用 144 个区块间隔计算）已跌至负数区域。

The Exchange Netflow is an indicator that measures the net amount of a cryptocurrency entering into or leaving the wallets linked to a centralized exchange.

交易所净流量是衡量进入或离开与中心化交易所关联的钱包的加密货币净额的指标。

When the value of this metric is positive, it indicates that a net amount of coins are being deposited into these exchange platforms. One common reason for holders to transfer to exchanges is for selling, and thus, such a trend may be suggestive of a bearish outcome for the asset.

当该指标的值为正数时，表明有净数量的代币被存入这些交易平台。持有者转移到交易所的一个常见原因是出售，因此，这种趋势可能暗示该资产的看跌结果。

On the other hand, the metric being negative implies that there are more outflows taking place on the exchange than inflows. Such a trend could be a sign that investors are accumulating, which may be bullish for the coin’s price.

另一方面，该指标为负意味着交易所发生的流出多于流入。这种趋势可能表明投资者正在积累，这可能有利于代币的价格。

The following chart shows the trend in the Bitcoin Exchange Netflow for Binance, as well as its 14-day SMA, over the last few months:

下图显示了过去几个月币安比特币交易净流及其 14 天 SMA 的趋势：

The above chart highlights the 14-day SMA of the Bitcoin Exchange Netflow on Binance over the last few months. As you can see, the metric has observed a sharp negative spike during the past day, indicating that a large amount of tokens were withdrawn by investors from the platform.

上图突出显示了过去几个月币安上比特币交易净流的 14 天 SMA。正如您所看到的，该指标在过去一天中出现了急剧的负峰值，表明投资者从平台上撤回了大量代币。

During the second half of last month, the indicator remained mostly within the positive territory, leading to the 14-day SMA attaining a value greater than zero.

上个月下半月，该指标大部分保持在正值区域内，导致 14 日移动平均线达到大于零的值。

In the chart, the quant has marked the instances of the 14-day SMA showing this trend in the last few months. It seems that the pattern has generally led to short-term declines for the asset in this period. The latest inflows into the platform, too, were accompanied by a drawdown in the Bitcoin price.

在图表中，量化指标标记了 14 天 SMA 的实例，显示了过去几个月的这一趋势。看来这种模式普遍导致了这一时期资产的短期下跌。最新的资金流入该平台也伴随着比特币价格的下跌。

After the latest sharp negative spike has appeared in the daily version of the Binance Exchange Netflow, its 14-day SMA value has also dipped back into the red zone.

在币安交易所 Netflow 日线版本出现最新的大幅负值飙升后，其 14 天 SMA 值也回落至红色区域。

While a surge into the positive territory precedes a short-term decline for the asset, a plunge into the negative region usually leads to bullish price action. Thus, Bitcoin may be currently well-set in terms of this indicator.

虽然在资产短期下跌之前飙升至正值区域，但跌入负值区域通常会导致看涨的价格走势。因此，比特币目前在该指标方面可能处于良好状态。

In total, a net amount of 5,407 BTC was taken off into self-custody by exchange users during the latest negative spike in the Binance Exchange Netflow.

在币安交易所净流量最近一次负增长期间，交易所用户总共净转移了 5,407 BTC 进行自我托管。