加密量牌的新分析顯示，當比特幣達到89700美元時，一場重大的比特幣長清算活動刪除了約2.453億美元

該活動也引起了開放興趣的大幅度下降。快速拋售導致波動的增加，迫使交易者重新評估市場狀況

A major Bitcoin (BTC) long liquidation event wiped out approximately $245.3 million when the cryptocurrency hit $89,700, according to a new analysis from CryptoQuant.

根據CryptoQuant的一項新分析，當加密貨幣達到89,700美元時，一項重大的比特幣（BTC）長期清算活動消除了約2.453億美元。

This event also led to a big drop in open interest and saw traders forced to reassess market conditions as Bitcoin formed a potential new support level.

這項活動還導致了開放興趣的大幅度下降，並且隨著比特幣形成潛在的新支持水平，交易者被迫重新評估市場狀況。

However, the rapid sell-off also led to increased volatility, which could be a concern for traders.

但是，迅速拋售也導致了波動性的增加，這可能是交易者的關注點。

The event also highlights the dangers of too much leverage in the crypto market.

該活動還強調了加密市場中槓桿過多的危險。

Long squeezes often lead to cascading liquidations, where forced sell-offs push prices lower, accelerating downward momentum.

長時間的擠壓通常會導致級聯清算，在這種清算中，強迫拋售的價格降低，加速下降。

How the Bitcoin Long Squeeze Unfolded

比特幣長擠壓如何展開

A long squeeze occurs when long-position holders are forced to sell as prices decline, explained CryptoQuant’s Amr Taha in a recent analysis.

CryptoQuant的Amr Taha在最近的分析中解釋說，當長位持有人被迫隨著價格下跌而被迫出售時，就會發生長時間的擠壓。

This starts automatic liquidations, speeding up a fast sell-off. Bitcoin’s fall below $89K resulted in lots of liquidations, removing liquidity from the market.

這開始自動清算，加快了快速拋售。比特幣的下跌低於$ 89K，導致了大量清算，從而消除了市場流動性。

As liquidation engines closed positions, large buy orders from whales and market makers absorbed the selling pressure. According to Taha, this high-volume liquidation usually levels out prices, as institutional investors use the chance to buy assets at lower prices.

當清算發動機關閉位置時，鯨魚和做市商的大型購買訂單吸收了銷售壓力。據塔哈（Taha）稱，這種大批量清算通常會降低價格，因為機構投資者利用機會以較低的價格購買資產。

Also, he added market makers often use these liquidation zones to place limit orders at good prices.

此外，他補充說，做市商經常使用這些清算區以高價下限額訂單。

Related: Bitcoin Bull Run Cycle? Chart Points to Next Phase for BTC with Price Analysis

相關：比特幣公牛運行週期？圖表指向BTC的下一階段，並通過價格分析

Bitcoin Derivative Market Data

比特幣衍生品市場數據

In the past 24 hours, $226.72 million was liquidated from crypto traders, with $177.52 million coming from long positions. The largest liquidation event happened in a single hour, reaching $657.28K, with short traders making up $630.62K of that amount. This underlines the market’s ongoing volatility.

在過去的24小時中，從加密貨幣交易員那裡清算了2.2672億美元，其中1.7752億美元來自長位。最大的清算事件發生在一個小時內，達到657.28K美元，短交易者佔了630.62k美元的金額。這強調了市場持續的波動。

Despite the liquidation, Bitcoin’s open interest (OI) increased slightly by 0.69%, reaching $57.09 billion. This uptick from over $60 billion prior to the liquidation event suggests that traders are still maintaining leveraged positions.

儘管進行了清算，但比特幣的開放興趣（OI）略有增加0.69％，達到570.9億美元。從清算活動之前的600億美元上升，這表明交易者仍在維持槓桿率。

Options open interest also saw growth, rising 3.33% to $32.50 billion, indicating continued interest in BTC options contracts.

期權開放利息也使增長增長，增長了3.33％，至325億美元，表明對BTC期權合約的持續利息。

However, Bitcoin’s derivatives trading volume dropped by 18.57% to $125.73 billion, while options volume fell by 7.12% to $4.14 billion.

但是，比特幣的衍生品交易量下降了18.57％，至1.2573億美元，而期權量下降了7.12％，至41.4億美元。

Funding Rates and Long/Short Ratios Signal Sentiment

資金率和長/短比率信號情緒

The BTC OI-weighted funding rate remains slightly positive, reflecting a neutral-to-bullish sentiment. Funding rates across major exchanges such as Binance, Bybit, and OKX are currently between 0.0010% and 0.0100%, suggesting that traders have a mixed opinion on Bitcoin’s recovery.

BTC OI加權的融資率仍然略有正向，反映出中立性的情緒。當前，Binance，Bybit和OKX等主要交易所的資金率目前在0.0010％至0.0100％之間，這表明交易員對比特幣的複蘇有不同的看法。

Moreover, the long/short ratios remain elevated, with Binance at 2.5423 and OKX at 2.91. This indicates that traders continue to bet on upward price movement despite the recent long liquidations.

此外，長度/短比保持升高，二元為2.5423，OKX為2.91。這表明，儘管最近清算了很長的清算，但交易者仍繼續下注向上的價格變動。

Related: Bitcoin Price Prediction: $90K Break – Dip or Rebound Next?

相關：比特幣價格預測：$ 90K休息 - 下一步或反彈？

What’s Next for Bitcoin?

比特幣的下一步是什麼？

In conclusion, while the rise in open interest indicates traders are keeping leverage, the decline in trading volume signals a possible reduction in speculative activity. If traders keep using too much leverage, the risk of more liquidation waves is still high.

總之，儘管開放興趣的上升表明交易者保持槓桿作用，但交易量的下降信號可能會減少投機活動。如果交易者繼續使用過多的槓桿作用，那麼更多的清算波仍然很高。

As of the latest data, Bitcoin is trading at $88,763, marking a 0.3% decline over the past 24 hours and bringing its weekly loss to 7.1%.

截至最新數據，比特幣的交易價格為88,763美元，在過去24小時內下降了0.3％，並將其每週虧損提高到7.1％。

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