Tether（USDT）的交易所流出可能是比特币（5.8 万美元）回调背后的原因

过去一天，比特币回调至 58,000 美元水平。根据链上数据，这可能是其背后的原因。

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.

过去一天，比特币价格回落至 58,000 美元水平。虽然该代币确实从 57,000 美元的低点反弹，但未能观察到任何强劲的上涨势头来推动其向下一个阻力位。

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

根据链上数据，这可能是价格走势低迷背后的原因。近期交易所出现大量Tether提现

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.

市场情报平台IntoTheBlock数据显示，中心化交易所近期出现Tether（USDT）流出热潮，突破10亿美元大关。

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.

当投资者想在不久的将来进行交易时，他们通常会将代币留在交易所，因此他们撤回代币的举动可能意味着他们有兴趣长期持有。

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 In the context of the current topic, though, the asset being withdrawn is a stablecoin, so the implication for the market is a bit different.

对于像比特币这样的波动性资产来说，外汇流出自然是一个看涨信号。不过，在当前主题的背景下，被撤回的资产是稳定币，因此对市场的影响有点不同。

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.

一般来说，当投资者想要逃避与 BTC 等代币相关的波动性时，他们会以 Tether 等与法定货币挂钩的代币形式存储资金。这些持有者最终确实计划冒险回到市场的另一边，他们可能会利用交易所来这样做。

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.

当持有者使用稳定币购买比特币等资产时，他们自然会抬高价格。因此，稳定币的外汇流入对该行业来说可能是一个看涨信号。

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，将 USDT 和其他货币撤回自我托管可能对市场来说是一个看跌信号，因为这表明投资者不相信他们会在不久的将来将资金转入波动较大的市场。

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 提款可能是比特币价格暴跌的原因。退出交易所的 USDT 甚至可能代表新的 BTC 抛售，因为许多投资者喜欢在资产交换后立即进入自我托管状态。

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在图表中指出的那样，最近两次USDT交易所的大规模流出也对BTC产生了看跌影响。

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，由于比特币和其他代币在过去一天表现出的波动性，整个加密货币衍生品市场出现了大量清算。

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

下面是 CoinGlass 的表格，总结了最新波动市场阶段发生的清算情况。

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.

如上图所示，过去一天发生了约 1.46 亿美元的加密货币清算，其中仅多头合约就产生了 1.2 亿美元，占总数的 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，以太坊（ETH）是对这种衍生品暴涨贡献最大的符号，而不是像通常情况下的比特币。也就是说，ETH 的清算量仅比 BTC 多 600 万美元。

BTC Price

比特币价格

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

截至撰写本文时，比特币交易价格约为 58,800 美元，在过去 24 小时内下跌 4%。