減半後比特幣供應緊縮加劇

最近的比特幣減半事件引發了供應緊張，導致需求增加和價格上漲。根據 Bitfinex 市場報告，中心化交易所的比特幣供應量大幅減少，而礦工則保留了其持有量。該報告預計拋售壓力將進一步下降，現貨比特幣現金流入將激增，造成供需失衡。

Bitcoin Supply Squeeze Intensifies Post-Halving Event

減半後比特幣供應緊張加劇

London, April 26, 2024 - The anticipated Bitcoin supply squeeze has commenced following the recent halving event, as reported by Bitfinex in its latest market analysis.

倫敦，2024 年 4 月 26 日 - 據 Bitfinex 在其最新市場分析中報道，在最近的減半事件之後，預期的比特幣供應緊縮已經開始。

After a bullish rally post-halving, Bitcoin (BTC) has sustained its upward momentum, reaching a peak of $67,200 within the past 24 hours before stabilizing around $66,200 during the mid-London session on Tuesday.

在減半後的看漲反彈之後，比特幣（BTC）保持了上漲勢頭，在過去 24 小時內達到了 67,200 美元的峰值，然後在周二倫敦時段中期穩定在 66,200 美元左右。

Notably, the supply of Bitcoin on centralized exchanges has witnessed a substantial decline in the months leading up to the halving, an unprecedented occurrence in the cryptocurrency's history. Moreover, Bitcoin miners have maintained their supply despite the halving of their block rewards.

值得注意的是，在減半前的幾個月裡，中心化交易所上的比特幣供應量大幅下降，這是加密貨幣史上前所未有的情況。此外，儘管區塊獎勵減半，比特幣礦工仍維持供應。

The recent approval of spot Bitcoin exchange-traded funds (ETFs) in Hong Kong and the growing interest from institutional investors seeking to hedge against inflation have further fueled the demand for Bitcoin.

最近香港批准現貨比特幣交易所交易基金（ETF），以及尋求對沖通貨膨脹的機構投資者的興趣日益濃厚，進一步刺激了對比特幣的需求。

With a current daily emission rate of approximately 450 Bitcoins, the rising global demand is expected to drive Bitcoin prices higher. Nation-states, such as El Salvador, are also accumulating Bitcoin, contributing to the supply shock.

目前每日發行量約 450 個比特幣，全球需求的成長預計將推動比特幣價格走高。薩爾瓦多等民族國家也在累積比特幣，加劇了供應衝擊。

Bitfinex's market report emphasizes that the Bitcoin supply squeeze has already begun. The analysts at Bitfinex anticipate that the overall selling pressure on Bitcoin, including from miners and other traders, will soon decline to approximately $30 million.

Bitfinex 的市場報告強調，比特幣供應緊張已經開始。 Bitfinex 的分析師預計，比特幣的整體拋售壓力（包括礦工和其他交易者的拋售壓力）將很快下降至約 3,000 萬美元。

Combined with the daily average spot Bitcoin cash inflows of around $150 million, despite the recent price correction, this creates a significant supply-demand imbalance. On-chain data further indicates a surge in Bitcoin outflows from exchanges, mirroring the behavior observed during previous bull cycles.

儘管近期價格出現調整，但加上每日平均現貨比特幣現金流入約 1.5 億美元，造成了嚴重的供需失衡。鏈上數據進一步表明，比特幣從交易所流出激增，反映了先前牛市週期中觀察到的行為。

"Remarkably, the active selling by long-term holders has not yet triggered the typical pre-halving price drop, suggesting strong absorption of this selling pressure by new market entrants," the Bitfinex analysts noted.

Bitfinex 分析師指出：“值得注意的是，長期持有者的積極拋售尚未引發典型的減半前價格下跌，這表明新市場進入者有力地吸收了這種拋售壓力。”

In terms of medium-term price expectations, Bitcoin's price has oscillated between $74,000 and $60,000 over the past two months. Despite the ongoing consolidation, popular crypto analyst Michaël van de Poppe suggests that Bitcoin could remain range-bound in the coming months, potentially leading to an altseason characterized by strong performance from alternative cryptocurrencies.

就中期價格預期而言，過去兩個月比特幣價格在 74,000 美元至 60,000 美元之間波動。儘管整合正在進行，但受歡迎的加密貨幣分析師 Michaël van de Poppe 表示，比特幣在未來幾個月可能會保持區間波動，這可能會導致以替代加密貨幣表現強勁為特徵的山寨季。

"Bitcoin is still consolidating within the range, through which this is now more than six weeks. Boredom has come back into the markets, but anything sub $60K is a massive buy opportunity," van de Poppe tweeted.

van de Poppe 在推特上寫道：「比特幣仍在該區間內盤整，目前已經過去六週多了。市場又回到了無聊的狀態，但任何低於6 萬美元的東西都是一個巨大的買入機會。

From a technical perspective, Bitcoin's monthly Relative Strength Index (RSI) is currently retesting the bullish breakout level of 70. This trend bears striking similarities to the crypto bubble observed in 2016-2017, which underscores the potential for further price appreciation.

從技術角度來看，比特幣的月度相對強弱指數（RSI）目前正在重新測試70 的看漲突破水平。潛力。