ChainCatcher 消息，Matrixport 发文分析称，自 10 月以来，比特币在 Coinbase 上的价格持续低于全球其他交易所，形成较明显的折价。虽然这一价差在一定程度上受到 USDT 价格波动的影响，但折价长期存在，仍反映出 Coinbase 平台上投资者的卖出倾向更为明显。
来自美国市场的资金流出现失衡，可能是近几个月市场持续承压的重要原因之一。不过，当比特币价格一度回落至 60,000 美元附近时，折价开始收窄，目前已基本回到中性水平。我们此前提到，这种修复往往意味着大部分卖压已被市场逐步消化，比特币的交易状态也有望随之改善。
近期价格走势似乎正在印证这一判断。尽管地缘政治风险仍在，整体风险资产表现偏弱，但比特币整体走势依然相对稳健。这或许表明，前期较重的抛压释放阶段正在逐步接近尾声，市场环境也有望迎来边际改善。
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