<p>根據鏈上數據跟蹤比特幣儲備和交易所流動性，近期圍繞幣安的猜測並未轉化為用户大規模撤資事件。</p>
<p>儘管受到重新審視和社交媒體討論的加劇，但數據顯示交易所上的客户資產總體保持穩定。</p>
<h2><strong>比特幣儲備沒有出現大幅下降</strong></h2>
<p>幣安錢包中的比特幣沒有顯示出在最新一波擔憂後，交易所儲備出現突然或持續下降的證據。</p>
<p>雖然儲備隨着更廣泛的市場週期而波動，但餘額一直保持在一個良好建立的範圍內。截至目前，儲備已降至約 <strong>650,000 BTC</strong>，佔比不足 <strong>1%</strong>。</p>
<p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/02/Bitcoin-Exchange-Reserve-Binance-scaled.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/02/Bitcoin-Exchange-Reserve-Binance-scaled.png"/></p>
<p>來源：CryptoQuant</p>
<p>歷史上，嚴重的交易所相關恐慌事件通常伴隨着用户急於自我保管而導致的儲備急劇下降。</p>
<p>這種模式在此次事件中明顯缺失。相反，幣安上的比特幣餘額似乎與長期趨勢一致，而不是對短期敍事做出劇烈反應。</p>
<h2><strong>淨流量數據指向常規活動，而非恐慌</strong></h2>
<p>交易所淨流量數據進一步支持幣安用户沒有進行大規模撤資的觀點。</p>
<p>儘管流入和流出都出現了週期性激增，但近期的淨流量並未顯示出通常與信心喪失相關的持續單向流出。</p>
<p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/02/Bitcoin-Exchange-Netflow-Total-Binance-scaled.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/02/Bitcoin-Exchange-Netflow-Total-Binance-scaled.png"/></p>
<p>來源：CryptoQuant</p>
<p>截至目前，淨流出超過 <strong>4,000 BTC</strong>。這些水平與常規交易行為和投資組合再平衡一致，而非大型持有者的協調性退出。</p>
<h2><strong>市場背景很重要</strong></h2>
<p>在更廣泛的市場下行背景下，鏈上的反應顯得温和，比特幣最近跌至自 2024 年底以來的最低水平。在這種環境中，交易所餘額通常會波動，因為交易者重新定位、減少槓桿或在不同場所之間轉移資產。</p>
<p>儲備沒有異常減少表明，幣安最近的 FUD 並未在用户行為上產生實質性變化，超出了正常市場動態。</p>
<p>這與幣安最近的公開回應一致，回應了與過去市場波動相關的擔憂。</p>
<p>交易所強調，在之前的壓力期間，其系統保持正常運作，並且在平台特定問題發生時，受影響的用户得到了補償。</p>
<h2><strong>數據驅動的信號與在線敍事形成對比</strong></h2>
<p>儘管猜測和批評在網上持續傳播，但鏈上指標幾乎沒有提供幣安用户信心受到衝擊的證據。</p>
<p>穩定的儲備和非極端的淨流量表明，市場正在吸收信息，而不是採取防禦性資產逃離。</p>
<hr/>
<h2><strong>最後的思考</strong></h2>
<ul>
<li>鏈上數據未顯示出用户因恐慌而從幣安撤資的證據，儘管審查加劇和市場波動。</li>
<li>穩定的儲備和受控的淨流量表明，近期的 FUD 在很大程度上仍然是敍事驅動，而非反映在用户行為上。</li>
</ul>
<hr/>

<p>最近關於幣安的猜測並沒有導致用户大量提現，因為鏈上數據表明比特幣儲備穩定。儘管市場受到關注，交易所的客户資產依然穩定，儲備約為 650,000 BTC。淨流量數據顯示的是常規交易活動，而非恐慌性提現。儲備沒有異常減少表明，近期圍繞幣安的恐懼、不確定性和懷疑（FUD）並未對用户行為產生顯著影響。總體來看，鏈上指標反映出市場在吸收信息的過程中並沒有出現劇烈的資產外流</p>

<p>Recent speculation surrounding Binance has failed to translate into a material user withdrawal event, according to on-chain data tracking Bitcoin reserves and exchange flows.</p>
<div class="lb-trans"><p>根據鏈上數據跟蹤比特幣儲備和交易所流動性，近期圍繞幣安的猜測並未轉化為用户大規模撤資事件。</p>
</div><p>Despite renewed scrutiny and heightened social media chatter, data suggest that customer assets on the exchange have remained broadly stable.</p>
<div class="lb-trans"><p>儘管受到重新審視和社交媒體討論的加劇，但數據顯示交易所上的客户資產總體保持穩定。</p>
</div><h2><strong>Bitcoin reserves show no sharp drawdown</strong></h2>
<div class="lb-trans"><h2><strong>比特幣儲備沒有出現大幅下降</strong></h2>
</div><p>Bitcoin held on Binance wallets shows no evidence of a sudden or sustained decline in exchange reserves following the latest wave of concern.</p>
<div class="lb-trans"><p>幣安錢包中的比特幣沒有顯示出在最新一波擔憂後，交易所儲備出現突然或持續下降的證據。</p>
</div><p>While reserves have fluctuated over time alongside broader market cycles, balances have remained within a well-established range. As of this writing, the reserve has dropped to around <strong>650,000 BTC</strong>, representing less than <strong>1%</strong>.</p>
<div class="lb-trans"><p>雖然儲備隨着更廣泛的市場週期而波動，但餘額一直保持在一個良好建立的範圍內。截至目前，儲備已降至約 <strong>650,000 BTC</strong>，佔比不足 <strong>1%</strong>。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/02/Bitcoin-Exchange-Reserve-Binance-scaled.png" alt="" original-src="https://ambcrypto.com/wp-content/uploads/2026/02/Bitcoin-Exchange-Reserve-Binance-scaled.png"/></p>
<p>Source: CryptoQuant</p>
<div class="lb-trans"><p>來源：CryptoQuant</p>
</div><p>Historically, episodes of severe exchange-related fear have been accompanied by abrupt reserve drawdowns as users rush to self-custody.</p>
<div class="lb-trans"><p>歷史上，嚴重的交易所相關恐慌事件通常伴隨着用户急於自我保管而導致的儲備急劇下降。</p>
</div><p>That pattern is notably absent this time. Instead, Bitcoin balances on Binance appear to be moving in line with longer-term trends rather than reacting sharply to short-term narratives.</p>
<div class="lb-trans"><p>這種模式在此次事件中明顯缺失。相反，幣安上的比特幣餘額似乎與長期趨勢一致，而不是對短期敍事做出劇烈反應。</p>
</div><h2><strong>Netflow data points to routine activity, not panic</strong></h2>
<div class="lb-trans"><h2><strong>淨流量數據指向常規活動，而非恐慌</strong></h2>
</div><p>Exchange netflow data further supports the view that Binance users have not engaged in mass withdrawals.</p>
<div class="lb-trans"><p>交易所淨流量數據進一步支持幣安用户沒有進行大規模撤資的觀點。</p>
</div><p>While periodic spikes in both inflows and outflows remain visible, recent netflows do not show the sustained, one-directional outflows typically associated with loss of confidence.</p>
<div class="lb-trans"><p>儘管流入和流出都出現了週期性激增，但近期的淨流量並未顯示出通常與信心喪失相關的持續單向流出。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/02/Bitcoin-Exchange-Netflow-Total-Binance-scaled.png" alt="" original-src="https://ambcrypto.com/wp-content/uploads/2026/02/Bitcoin-Exchange-Netflow-Total-Binance-scaled.png"/></p>
<p>Source: CryptoQuant</p>
<div class="lb-trans"><p>來源：CryptoQuant</p>
</div><p>As of this writing, there was a negative netflow of over <strong>4,000 BTC</strong>. These levels are consistent with routine trading behavior and portfolio rebalancing rather than coordinated exits by large holders.</p>
<div class="lb-trans"><p>截至目前，淨流出超過 <strong>4,000 BTC</strong>。這些水平與常規交易行為和投資組合再平衡一致，而非大型持有者的協調性退出。</p>
</div><h2><strong>Market context matters</strong></h2>
<div class="lb-trans"><h2><strong>市場背景很重要</strong></h2>
</div><p>The muted on-chain response comes amid a broader market downturn, with Bitcoin recently falling to its lowest levels since late 2024. In such environments, exchange balances often fluctuate as traders reposition, reduce leverage, or move assets between venues.</p>
<div class="lb-trans"><p>在更廣泛的市場下行背景下，鏈上的反應顯得温和，比特幣最近跌至自 2024 年底以來的最低水平。在這種環境中，交易所餘額通常會波動，因為交易者重新定位、減少槓桿或在不同場所之間轉移資產。</p>
</div><p>The absence of abnormal reserve depletion suggests that Binance’s latest bout of FUD has not materially altered user behavior beyond normal market dynamics.</p>
<div class="lb-trans"><p>儲備沒有異常減少表明，幣安最近的 FUD 並未在用户行為上產生實質性變化，超出了正常市場動態。</p>
</div><p>This aligns with Binance’s recent public response addressing concerns related to past market volatility.</p>
<div class="lb-trans"><p>這與幣安最近的公開回應一致，回應了與過去市場波動相關的擔憂。</p>
</div><p>The exchange has emphasized that its systems remained operational during previous stress periods and that affected users were compensated where platform-specific issues occurred.</p>
<div class="lb-trans"><p>交易所強調，在之前的壓力期間，其系統保持正常運作，並且在平台特定問題發生時，受影響的用户得到了補償。</p>
</div><h2><strong>Data-driven signal contrasts online narrative</strong></h2>
<div class="lb-trans"><h2><strong>數據驅動的信號與在線敍事形成對比</strong></h2>
</div><p>While speculation and criticism continue to circulate online, on-chain indicators provide little evidence of a confidence shock among Binance users.</p>
<div class="lb-trans"><p>儘管猜測和批評在網上持續傳播，但鏈上指標幾乎沒有提供幣安用户信心受到衝擊的證據。</p>
</div><p>Stable reserves and non-extreme netflows point to a market that is absorbing information without resorting to defensive asset flight.</p>
<div class="lb-trans"><p>穩定的儲備和非極端的淨流量表明，市場正在吸收信息，而不是採取防禦性資產逃離。</p>
</div><hr/>
<div class="lb-trans"><hr/>
</div><h2><strong>Final Thoughts</strong></h2>
<div class="lb-trans"><h2><strong>最後的思考</strong></h2>
</div><ul>
<li>On-chain data shows no evidence of panic-driven withdrawals from Binance, despite heightened scrutiny and market volatility.</li>
<li>Stable reserves and contained netflows suggest recent FUD has remained largely narrative-driven rather than reflected in user behaviour.</li>
</ul>
<div class="lb-trans"><ul>
<li>鏈上數據未顯示出用户因恐慌而從幣安撤資的證據，儘管審查加劇和市場波動。</li>
<li>穩定的儲備和受控的淨流量表明，近期的 FUD 在很大程度上仍然是敍事驅動，而非反映在用户行為上。</li>
</ul>
</div><hr/>
<div class="lb-trans"><hr/>
</div>

Binance FUD fails to trigger user exodus as on-chain data shows stable reserves

- 數據顯示，Binance 用户未出現大規模提款現象，資產保持穩定。  
- 比特幣儲備並無明顯下降，近期流動性依舊正常。  
- 儘管市場波動，用户行為未受到實質性影響。

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幣安的 FUD 未能引發用户流失，因為鏈上數據顯示其儲備保持穩定