# 市场趋势

## 比特币：所有交易所储备

自比特币诞生以来，各大交易所持有的比特币数量一直在稳步增长。但从2020年2月开始，机构投资者已开始从这些交易所提取大量比特币，目的是战略性的长期持有。大规模提币给比特币的流动性造成了压力，从下方图表可以看出，自2020年中期以来，卖方紧缩推高了比特币的价格。

### 👉 [保存图表](https://cryptoquant.com/prochart/fp272opepr)  

![](/files/-MSRSRa1AsOeG2wcu6sH)

{% content-ref url="/pages/-MSlW6DEcPtp5wCCn2FK" %}
[交易所储备](/zh/exchange-flows/jiao-yi-suo-chu-bei.md)
{% endcontent-ref %}

## 比特币：所有交易所净流入量（30日移动均线）

净流入是指交易所上比特币流入、流出数额的差值。在牛市中，净流入一般为负。而在熊市中，净流入一般为正。例如，在30日移动均线中，净流入在2018年比特币价格达到高位时创下年度高点，而在2020年，当比特币价格在1万美元附近徘徊时则创下了年度低点。

### 👉 [保存图表](https://cryptoquant.com/prochart/nfihpalo76)

![](/files/-MSRSe7LpzCaMFWiQI7x)

![](/files/-MSRSfZrL7I7dk37MVGv)

{% content-ref url="/pages/-MSlVoLc7XKvcbGc8o5q" %}
[交易所流入/流出与净流入](/zh/exchange-flows/jiao-yi-suo-liu-ru-liu-chu-yu-jing-liu-ru.md)
{% endcontent-ref %}


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