Tether（USDT）的交易所流出可能是比特幣（5.8 萬美元）回調背後的原因

過去一天，比特幣回調至 58,000 美元水準。根據鏈上數據，這可能是背後的原因。

The price of Bitcoin has observed a pullback down to the $58,000 level during the past day. While the coin did observe a recovery from the lows of $57,000, it has failed to observe any strong upwards momentum to propel it towards the next resistance.

過去一天，比特幣價格回落至 58,000 美元水準。雖然該代幣確實從 57,000 美元的低點反彈，但未能觀察到任何強勁的上漲勢頭來推動其向下一個阻力位。

Here’s what could be the cause behind this lackluster price action, according to on-chain data. Exchanges Have Seen A Large Amount Of Tether Withdrawals Recently

根據鏈上數據，這可能是價格走勢低迷背後的原因。近期交易所出現大量Tether提現

According to data from the market intelligence platform IntoTheBlock, centralized exchanges have recently seen a Tether (USDT) outflow spree that crossed the $1 billion mark.

市場情報平台IntoTheBlock數據顯示，中心化交易所近期出現Tether（USDT）流出熱潮，突破10億美元大關。

Investors usually keep their coins in exchanges when they want to trade them in the near future, so them making the move to withdraw their tokens could potentially imply that they are interested in holding into the long-term.

當投資者想在不久的將來進行交易時，他們通常會將代幣留在交易所，因此他們撤回代幣的舉動可能意味著他們有興趣長期持有。

For volatile assets like Bitcoin, exchange outflows can naturally be a bullish sign for this reason. In the context of the current topic, though, the asset being withdrawn is a stablecoin, so the implication for the market is a bit different.

對於像比特幣這樣的波動性資產來說，外匯流出自然是一個看漲訊號。不過，在當前主題的背景下，被撤回的資產是穩定幣，因此對市場的影響有點不同。

Generally, investors store their capital in the form of fiat-tied tokens like Tether when they want to escape the volatility associated with coins like BTC. Such holders do eventually plan to venture back into the other side of the market and they may use exchanges for doing so.

一般來說，當投資者想要逃避與 BTC 等代幣相關的波動性時，他們會以 Tether 等與法定貨幣掛鉤的代幣形式儲存資金。這些持有者最終確實計劃冒險回到市場的另一邊，他們可能會利用交易所來這樣做。

When holders buy into assets like Bitcoin using their stablecoin, they naturally end up boosting their prices. As such, exchange inflows of stables can be a bullish sign for the sector.

當持有者使用穩定幣購買比特幣等資產時，他們自然會提高價格。因此，穩定幣的外匯流入對該行業來說可能是一個看漲訊號。

Withdrawals of USDT and others into self-custody instead, however, can be a bearish sign for the market, as it shows the investors don’t believe they would be making a swap into the volatile side in the near future.

然而，將 USDT 和其他貨幣撤回自我託管可能對市場來說是一個看跌信號，因為這表明投資者不相信他們會在不久的將來將資金轉入波動較大的市場。

The latest Tether withdrawals may, therefore, be why the Bitcoin price has tumbled. This USDT exiting exchanges could even have represented fresh BTC sells, as many investors like to move into self-custody as soon as they have swapped between assets.

因此，最新的 Tether 提款可能是比特幣價格暴跌的原因。退出交易所的 USDT 甚至可能代表新的 BTC 拋售，因為許多投資者喜歡在資產交換後立即進入自我託管狀態。

As IntoTheBlock has pointed out in the chart, the last two large USDT exchange outflows also had a bearish effect on BTC.

正如IntoTheBlock在圖表中指出的那樣，最近兩次USDT交易所的大額資金流出也對BTC產生了利空影響。

In some other news, the cryptocurrency derivatives market as a whole has seen a large amount of liquidations as a result of the volatility that Bitcoin and other coins have displayed during the past day.

在其他一些消息中，由於比特幣和其他代幣在過去一天所表現出的波動性，整個加密貨幣衍生性商品市場出現了大量清算。

Below is a table from CoinGlass that sums up the liquidations that have occurred in the latest volatile market phase.

以下是 CoinGlass 的表格，總結了最新波動市場階段發生的清算情況。

As is visible above, around $146 million in cryptocurrency liquidations have occurred over the past day, with $120 million coming from the long contracts alone, which is more than 80% of the total.

如上圖所示，過去一天發生了約 1.46 億美元的加密貨幣清算，其中僅多頭合約就產生了 1.2 億美元，佔總數的 80% 以上。

Interestingly, Ethereum (ETH) is the symbol that has contributed the most towards this derivatives flush and not Bitcoin like is usually the case. That said, ETH has only $6 million more liquidations than BTC.

有趣的是，以太幣（ETH）是對這種衍生性商品暴漲貢獻最大的符號，而不是像通常情況下的比特幣。也就是說，ETH 的清算量僅比 BTC 多 600 萬美元。

BTC Price

比特幣價格

At the time of writing, Bitcoin is trading around $58,800, down 4% over the last 24 hours.

截至撰寫本文時，比特幣交易價格約為 58,800 美元，在過去 24 小時內下跌 4%。