Binance上的比特币（BTC）交易所最近崩溃了，看涨标志？

链上的数据显示，Binance平台的比特币交易所最近暴跌，这一标志可能是BTC的价格。

On-chain data shows the Bitcoin Exchange Reserve for the Binance platform has plummeted recently, a sign that could be bullish for BTC’s price.

链上的数据显示，Binance平台的比特币交易所最近暴跌，这一标志可能是BTC的价格。

Bitcoin Binance Exchange Reserve Crashes As Investors Pull Out Funds

比特币二手货币储备坠毁，投资者撤出资金

As pointed out by an analyst in a CryptoQuant Quicktake post, the Bitcoin Exchange Reserve for Binance has seen a large decline since mid-April. The “Exchange Reserve” here refers to an indicator that keeps track of the total amount of BTC that’s sitting in the wallets of a given centralized exchange.

正如分析师在一个加密快速帖子中指出的那样，自4月中旬以来，Binance的比特币交易所储备大幅下降。这里的“交易储备”是指一个指标，该指标可以跟踪坐在给定集中式交易所钱包中的BTC总数。

When the value of this metric goes up, it means the investors are depositing a net number of tokens of the asset into the platform. As one of the main reasons why holders transfer their coins to exchanges is for selling-related purposes, this kind of trend can have a bearish effect on the cryptocurrency’s price.

当该指标的价值上升时，这意味着投资者正在将资产的净数量存储到平台中。作为持有人将硬币转移到交换的主要原因之一是出于销售相关的目的，这种趋势可能会对加密货币的价格产生看跌作用。

On the other hand, the indicator observing a decline suggests the outflows are overwhelming the inflows and a net amount of the asset is leaving the exchange. Such a trend can be a sign that the investors are accumulating, which can naturally be bullish for BTC.

另一方面，观察到下降的指标表明流出量使流入压倒了，资产净额正在离开交换。这样的趋势可能表明投资者正在积累，这自然可以看涨BTC。

Now, here is the chart that shows the trend in the Bitcoin Exchange Reserve for the cryptocurrency exchange Binance over the last couple of years:

现在，以下图表显示了过去几年中加密货币交易所二进制比特币交易所储备的趋势：

The above chart, which is from CryptoQuant's analysis, shows the Bitcoin Binance Exchange Reserve has been following a steep downward trajectory since mid-April, implying that the investors have been in net withdrawal mode.

上面的图表来自CryptoQuant的分析，表明比特币二元交易所储备自4月中旬以来一直沿着陡峭的向下轨迹，这意味着投资者处于净撤回模式。

In total, the platform has seen the outflow of around 51,000 BTC ($4.8 billion) during this period. Considering the large amount involved, it’s likely that whale-sized holders are behind the moves.

在此期间，该平台总共看到了约51,000 BTC（48亿美元）的流出。考虑到涉及的大量数量，鲸鱼大小的持有人可能是在动作后面的。

These latest large outflows from the exchange have accompanied a recovery rally in the BTC price. From the chart, it’s visible that a similar trend was also seen in the last two months of 2024.

这些交易所的最新大量流出伴随着BTC价格的恢复集会。从图表中可以看到，在2024年的最后两个月中也出现了类似的趋势。

Back then, the Bitcoin bull run hit a top at around the same time as the bottom in the metric. Considering this trend, it’s possible that the rally in the asset’s price may also be able to continue so long as the current trend of a decline in the Exchange Reserve continues for Binance.

那时，比特币公牛跑步与度量标准中的底部大约同时达到了顶峰。考虑到这一趋势，只要当前的交易所储备金持续下降，资产价格的集会也可能会持续下去。

That said, in today’s market, exchanges are no longer as relevant as they once used to be, due to the emergence of other gateways like the spot exchange-traded funds (ETFs). Thus, while exchange withdrawals can still be a bullish sign, where BTC would head next also comes down to how the other parts of the sector are looking.

也就是说，在当今市场上，由于诸如现货交易所交易基金（ETF）等其他网关的出现，交流不再像以前那样重要。因此，尽管交换取款仍然可能是看涨的迹象，而BTC接下来也将归结于该行业的其他部分的样子。

BTC Price

BTC价格

Bitcoin made recovery beyond the $97,000 level just a few days ago, but it seems the coin has faced a pullback since then as it’s declined to $94,000 to kick off the new week.

比特币在几天前就恢复了97,000美元的水平，但从那时起，硬币似乎面临着回调，因为它降至94,000美元，开始了新的一周。