Tether 的收购未能阻止比特币价格下跌

最近有消息称 Tether 大量购买比特币（8,888 BTC），加密货币市场的价格令人惊讶地跌破了 70,000 美元。尽管 Tether 持有大量 BTC，但市场仍受到多种因素的影响，这些因素掩盖了此次购买的影响，包括零售为主的交易所的清算、现货比特币 ETF 的资金流出以及衍生品市场抛售压力的增加。

Tether's Bitcoin Acquisition Fails to Halt Price Correction

Tether 收购比特币未能阻止价格调整

Amidst a flurry of market volatility, a recent acquisition of 8,888 Bitcoin (BTC) by Tether, the world's largest stablecoin issuer, has sparked speculation within the crypto community. Counterintuitively, Bitcoin's price has declined following Tether's purchase, causing analysts to question the underlying factors driving the market.

在一系列市场波动中，全球最大的稳定币发行商 Tether 最近收购了 8,888 个比特币 (BTC)，引发了加密社区的猜测。与直觉相反的是，在 Tether 购买比特币后，比特币的价格已经下跌，导致分析师质疑推动市场的根本因素。

Data from Arkham Intelligence, a blockchain analysis platform, reveals that Tether's Bitcoin holdings now stand at a staggering 75,400 BTC. This substantial acquisition places Tether among the largest Bitcoin holders globally, surpassing even some of the most prominent crypto exchanges and Spot Bitcoin ETF issuers.

区块链分析平台 Arkham Intelligence 的数据显示，Tether 的比特币持有量目前已达到惊人的 75,400 BTC。此次重大收购使 Tether 跻身全球最大的比特币持有者之列，甚至超过了一些最著名的加密货币交易所和现货比特币 ETF 发行人。

In the past, Tether has expressed its intention to allocate a portion of its operational profits towards regular Bitcoin purchases for its stablecoin reserves. As a result, the recent acquisition comes as no surprise, reflecting the company's ongoing efforts to enhance the stability of its stablecoin offerings.

过去，Tether 曾表示打算将部分运营利润用于定期购买比特币，作为其稳定币储备。因此，最近的收购并不令人意外，这反映出该公司正在努力增强其稳定币产品的稳定性。

However, to the dismay of many crypto enthusiasts, Bitcoin's price has tumbled below $70,000 in the wake of Tether's purchase. Typically, such a large-scale Bitcoin acquisition would be expected to buoy the cryptocurrency's price, but this time, it appears that other factors have overshadowed the positive impact of Tether's investment.

然而，令许多加密货币爱好者沮丧的是，在 Tether 收购后，比特币的价格已跌至 7 万美元以下。通常情况下，如此大规模的比特币收购预计会提振加密货币的价格，但这一次，其他因素似乎掩盖了 Tether 投资的积极影响。

Crypto trading firm QCP Capital has attributed the sharp price drop to "large liquidations on retail-heavy exchanges like Binance," causing perp funding rates to plummet from 77% to flat.

加密货币交易公司 QCP Capital 将价格大幅下跌归因于“像币安这样的零售密集型交易所的大规模清算”，导致永久融资利率从 77% 暴跌至持平。

The decline has also been exacerbated by significant outflows from Grayscale's GBTC, a Spot Bitcoin ETF. On April 1 alone, GBTC experienced an outflow of $302.6 million, contributing to the combined net outflows of $85.7 million witnessed across these Bitcoin ETFs. This selling pressure has further weighed down on Bitcoin's price.

Grayscale 旗下现货比特币 ETF GBTC 的大量资金外流也加剧了跌势。仅 4 月 1 日，GBTC 就经历了 3.026 亿美元的流出，导致这些比特币 ETF 的净流出总额达到 8570 万美元。这种抛售压力进一步打压了比特币的价格。

The derivatives market has also played a role in the bear market sentiment, with bears firmly in control. Data from Coinglass indicates that $409 million has been liquidated from the market in the last 24 hours, with $328 million in long positions being liquidated during this period.

衍生品市场也对熊市情绪产生了影响，空头牢牢控制着市场。 Coinglass 的数据显示，过去 24 小时内，市场已清算 4.09 亿美元，其中多头头寸在此期间被清算 3.28 亿美元。

At the time of writing, Bitcoin is trading around $66,500, down over 4% in the last 24 hours, according to CoinMarketCap.

根据 CoinMarketCap 的数据，截至撰写本文时，比特币交易价格约为 66,500 美元，在过去 24 小时内下跌超过 4%。

While Tether's Bitcoin acquisition had initially raised expectations of a price rally, the subsequent market correction highlights the complex interplay of factors that influence cryptocurrency prices. The ongoing liquidations, outflows from Grayscale's GBTC, and bearish sentiment in the derivatives market have overshadowed the positive impact of Tether's purchase, leading to a decline in Bitcoin's price.

尽管 Tether 收购比特币最初引发了价格上涨的预期，但随后的市场调整凸显了影响加密货币价格的因素之间复杂的相互作用。持续的清算、Grayscale 的 GBTC 资金流出以及衍生品市场的看跌情绪掩盖了 Tether 购买的积极影响，导致比特币价格下跌。