交易所的比特幣流入量仍然較低，是否足以緩衝 Mt.Gox 的 BTC 拋售？

昨天，比特幣一度突破 7 萬美元，隨後即期匯率跌破 6.9 萬美元。儘管存在疲軟跡象，但 X 的一位分析師指出

Bitcoin price dropped sharply yesterday after failing to break past $72,000. BTC price plunged below the $69,000 level to reach spot rates of $68,9K. However, despite the sell-off, one analyst on X claims that the lack of user enthusiasm to sell is evident in the low exchange inflows.

比特幣價格在未能突破 72,000 美元後，昨天大幅下跌。 BTC 價格跌破 69,000 美元水平，現貨價格達到 68,900 美元。然而，儘管遭到拋售，X 的一位分析師聲稱，用戶缺乏拋售熱情在交易所流入量較低中顯而易見。

Bitcoin Inflows To Exchanges Remain Low

交易所的比特幣流入量仍然較低

The analyst highlights that exchange inflows are low at spot rates. On May 28, exchanges received only 25.9K BTC daily. According to historical exchange inflow data from CryptoQuant, the current inflow rate is comparable to 2016 levels.

分析師強調，以即期匯率計算，外匯流入量較低。 5 月 28 日，交易所每天僅收到 2.59 萬 BTC。根據 CryptoQuant 的歷史交易所流入數據，目前的流入速度與 2016 年的水準相當。

After 2016, there was a significant uptick in momentum. However, since the beginning of the year, the inflow to exchanges has been decreasing. It’s worth noting that around this time, the United States Securities and Exchange Commission (SEC) approved nine spot Bitcoin exchange-traded funds (ETFs).

2016年之後，勢頭明顯回升。然而，自今年年初以來，流入交易所的資金一直在減少。值得注意的是，大約在這個時候，美國證券交易委員會（SEC）批准了九隻現貨比特幣交易所交易基金（ETF）。

With this product available in the United States, some large whales may have chosen to convert their coins and hold ETFs instead. In doing so, they transferred custody to an approved custodian, depending on the spot Bitcoin ETF issuer they selected.

由於該產品在美國上市，一些大型鯨魚可能會選擇轉換其代幣並持有 ETF。在此過程中，他們將託管權轉移給經批准的託管人，具體取決於他們選擇的現貨比特幣 ETF 發行人。

Mt. Gox Moving BTC: How Will Prices React If They Sell?

Mt. Gox 轉移 BTC：如果拋售，價格將如何反應？

While the average BTC inflow to exchanges is at 2016 levels, this may change in the coming months. On May 28, Token Unlocks data shows that Mt. Gox, the defunct crypto exchange hacked in 2014, moved over $9.4 billion in BTC.

雖然交易所的 BTC 平均流入量處於 2016 年的水平，但未來幾個月可能會改變。 5 月 28 日，Token Unlocks 數據顯示，已解散的加密貨幣交易所 Mt. Gox 在 2014 年遭到駭客攻擊，轉移了超過 94 億美元的 BTC。

This unexpected transfer has sparked market concerns. Currently, the intention remains unclear. However, if they decide to liquidate on exchanges, the implications could be significant.

這一意外的轉會引發了市場擔憂。目前，其意圖尚不清楚。然而，如果他們決定在交易所清算，影響可能會很大。

Despite this possibility, the analyst argues that BTC’s low average exchange inflow to exchanges would serve as a timely cushion. Should Mt.Gox creditors decide to sell, the analyst believes the market will easily absorb this sell-off despite increased initial volatility. In other words, the price impact will be minimal.

儘管存在這種可能性，但分析師認為，比特幣交易所的平均交易流入量較低，將起到及時的緩衝作用。分析師認為，如果 Mt.Gox 債權人決定出售，儘管初始波動性增加，但市場將很容易吸收此次拋售。換句話說，價格影響將是最小的。

Before being hacked and losing over 800,000 BTC, Mt. Gox was a prominent Bitcoin exchange. At one point, it handled over 70% of all global BTC trading volume. Victims of the unfortunate hack will be compensated in the next few months.

在遭到駭客攻擊並損失超過 800,000 BTC 之前，Mt. Gox 是一家著名的比特幣交易所。它一度處理了全球 70% 以上的 BTC 交易量。不幸的駭客攻擊的受害者將在未來幾個月內獲得賠償。