比特幣持有者從交易所撤出 7.5 億美元的 BTC，引發自 5 月以來最大規模的淨流出

從歷史上看，類似的資金外流往往會導致價格上漲，因為如果需求保持穩定或上升，交易所供應減少往往會導致價格上漲。

Bitcoin holders have shifted around $750 million in the leading cryptocurrency out of centralized exchanges in a single day this week, marking the largest net Bitcoin outflow since May.

本週，比特幣持有者在一天內從中心化交易所轉移了約 7.5 億美元的主要加密貨幣，這是自 5 月以來最大的比特幣淨流出。

The four-month peak in net Bitcoin outflows occurred on September 10, as the price of Bitcoin recovered to surpass the $57,000 mark. Bitcoin is now already above $58,000.

比特幣淨流出的四個月高峰出現在 9 月 10 日，當時比特幣價格回升至 57,000 美元大關。比特幣現在已經超過 58,000 美元。

According to IntoTheBlock’s data, large net outflows from exchanges have historically been followed by price increases. This is because a lower supply on exchanges can lead to a price rise if demand remains steady or rises.

根據IntoTheBlock的數據，從歷史上看，交易所的大量淨流出往往伴隨著價格上漲。這是因為，如果需求保持穩定或上升，交易所供應減少可能會導致價格上漲。

For example, a significant withdrawal in late May coincided with a rally that propelled Bitcoin’s price from just below $68,000 to $72,000 within days. Conversely, large inflows have often led to price declines, as evidenced by the crash in late July and early August.

例如，5 月底的大規模撤資恰逢比特幣價格反彈，幾天之內比特幣價格從略低於 68,000 美元升至 72,000 美元。相反，大量資金流入往往會導致價格下跌，7 月底和 8 月初的暴跌證明了這一點。

The net outflows come at a time when data from crypto analytics firm CryptoQuant reveals a significant shift in the dynamics of Bitcoin ownership.

資金淨流出發生之際，加密貨幣分析公司 CryptoQuant 的數據顯示，比特幣所有權動態發生了重大轉變。

The data shows that short-term holders, defined as those who have held their bitcoin for 155 days or less, have been steadily reducing their positions since late May, indicating weakening demand for the cryptocurrency.

數據顯示，短期持有者（即持有比特幣時間不超過 155 天的人）自 5 月底以來一直在穩步減少頭寸，這表明對加密貨幣的需求正在減弱。

In contrast, long-term BTC holders appear to be accumulating their positions as short-term holders sell off their holdings.

相比之下，隨著短期持有者拋售所持比特幣，長期比特幣持有者似乎正在累積部位。

CryptoQuant’s data shows a notable trend over the past few months, as short-term holders have significantly reduced their positions, particularly in July and August.

CryptoQuant 的數據顯示了過去幾個月的顯著趨勢，短期持有者大幅減持頭寸，尤其是在 7 月和 8 月。

This sell-off by short-term holders could lead to medium-term price appreciation and market stabilization, according to CryptoQuant contributor IT Tech, who wrote that the “data shows a clear capital flow from weak hands (STH) to strong hands (LTH), signaling market stability.”

CryptoQuant 撰稿人 IT Tech 表示，短期持有者的拋售可能會導致中期價格升值和市場穩定，他寫道，「數據顯示明顯的資金從弱手 (STH) 流向強手 (LTH) ），表明市場穩定。