随着比特币持有量达到历史低点，投资者避开交易所

根据 CryptoQuant 最近的数据分析，比特币在主要加密货币交易所的可访问性已达到迄今为止的最低水平。过去一个月，已有超过 90,000 枚比特币被撤回，这表明投资者长期保留比特币的趋势日益明显。这种“冷存储”运动受到了比特币价格上涨、比特币相关 ETF 的潜在批准以及即将到来的比特币减半的影响。

Bitcoin Exchange Reserves Dwindle to All-Time Low as Investors Opt for Long-Term Holding

随着投资者选择长期持有，比特币交易所储备减少至历史低点

Key Findings:

主要发现：

• Over 90,000 Bitcoin withdrawn from major cryptocurrency exchanges in the past month alone
• Bitcoin reserves on exchanges have declined by approximately 900,000 since July 2021
• Short-term holders absorb selling pressure from long-term holders as prices rise

Analysis:

仅过去一个月就有超过 90,000 枚比特币从主要加密货币交易所撤资 自 2021 年 7 月以来，交易所的比特币储备已减少约 900,000 枚，随着价格上涨，短期持有者吸收了长期持有者的抛售压力 分析：

Data analysis firm CryptoQuant has revealed that Bitcoin's availability on major exchanges has plummeted to its lowest point ever. This unprecedented withdrawal trend suggests that an increasing number of investors are adopting a long-term hold strategy.

数据分析公司 CryptoQuant 透露，比特币在主要交易所的可用性已跌至有史以来的最低点。这种前所未有的撤资趋势表明，越来越多的投资者正在采取长期持有策略。

In the past month alone, over 90,000 Bitcoin have been transferred from exchanges, a significant amount that underscores the shift towards "cold storage" - the practice of storing Bitcoin in offline wallets for enhanced security. This trend has been unfolding over several years and is driven by a confluence of factors.

仅在过去一个月，就有超过 90,000 枚比特币从交易所转移，这一数字凸显了向“冷存储”的转变——将比特币存储在离线钱包中以增强安全性的做法。这种趋势已经持续了好几年，并且是由多种因素共同推动的。

Firstly, the rising price of Bitcoin has encouraged investors to view it as a long-term store of value, similar to gold. Secondly, the potential approval of exchange-traded funds (ETFs) directly linked to Bitcoin has generated anticipation among institutional investors. Thirdly, the upcoming Bitcoin halving event, which reduces the number of newly mined Bitcoin by half, has further fueled long-term holding sentiment.

首先，比特币价格的上涨鼓励投资者将其视为类似于黄金的长期价值储存手段。其次，与比特币直接挂钩的交易所交易基金（ETF）的潜在批准引起了机构投资者的期待。第三，即将到来的比特币减半事件使新开采的比特币数量减少一半，进一步刺激了长期持有情绪。

CryptoQuant's data, extending back to early 2021, depicts a steady decline in Bitcoin exchange reserves. In July 2021, reserves stood at approximately 2.8 million coins, a figure that has since dropped by nearly 900,000.

CryptoQuant 的数据可以追溯到 2021 年初，显示比特币交易储备稳步下降。 2021 年 7 月，储备量约为 280 万枚，此后这一数字下降了近 90 万枚。

However, despite the overall trend towards long-term holding, on-chain analysis platform Glassnode has identified a contrasting dynamic within the remaining exchange-traded Bitcoin. Their data indicates a recent shift, with long-term holders transferring coins to short-term holders.

然而，尽管总体趋势是长期持有，但链上分析平台 Glassnode 发现，剩余的交易所交易比特币存在对比动态。他们的数据显示了最近的转变，长期持有者将代币转移给短期持有者。

"Historically, we've observed a tight supply situation," notes a recent Glassnode report. "Lately, we're witnessing a narrowing gap between long-term and short-term holder supply."

Glassnode 最近的一份报告指出：“从历史上看，我们观察到供应紧张的情况。” “最近，我们看到长期和短期持有者供应之间的差距正在缩小。”

Glassnode suggests that as prices rise and unrealized profits accumulate, long-term holders may be tempted to sell a portion of their holdings. This has led to an increase in short-term holder supply, which has absorbed the selling pressure from long-term holders, estimated at approximately 1.121 million Bitcoin.

Glassnode 表示，随着价格上涨和未实现利润积累，长期持有者可能会忍不住出售部分持仓。这导致短期持有者供应量增加，从而吸收了长期持有者的抛售压力，估计约为 112.1 万比特币。

Understanding the motivations of different investor groups is paramount for navigating the cryptocurrency market. While the prevailing trend indicates a sustained long-term belief in Bitcoin, the recent shift within exchange-traded coins signals potential short-term volatility.

了解不同投资者群体的动机对于驾驭加密货币市场至关重要。虽然当前趋势表明人们对比特币的长期信心持续存在，但交易所交易代币最近的转变预示着潜在的短期波动。

The ongoing Future of Digital Assets conference, hosted by Benzinga on November 19, will provide an invaluable platform for experts to delve into the intricate drivers influencing Bitcoin's price movements.

Benzinga 于 11 月 19 日主办的数字资产未来会议将为专家提供一个宝贵的平台，让他们深入研究影响比特币价格走势的复杂驱动因素。