隨著市場動態的掉頭，比特幣（BTC）開放興趣急劇下降

由於幾個關鍵指標表現出負面趨勢，比特幣的市場動態可能會發生急劇的轉變。

The beginning of this week has turned out to be bullish for Bitcoin after several weeks of robust volatility, which constrained its price below the $90,000 level. Although BTC’s price has briefly gained upside movements, there is potential for a pullback as its Open Interest shows significant weakness.

經過數周強大的波動性，本週開始的比特幣是看好比特幣的看漲，這限制了其價格低於90,000美元的水平。儘管BTC的價格已短暫地獲得了上升的變動，但由於其開放興趣表現出明顯的弱點，因此有可能引起回調。

A Sharp Drop In Bitcoin’s Open Interest

比特幣的開放興趣急劇下降

Bitcoin’s market dynamics could be taking a drastic turnaround as several key metrics display a negative trend. These metrics’ waning performance in conjunction with recent price fluctuations raises the risk of BTC witnessing a further decline to key support levels.

由於幾個關鍵指標表現出負面趨勢，比特幣的市場動態可能會發生急劇的轉變。這些指標與最近的價格波動結合使用的衰落表現增加了BTC進一步下降到關鍵支持水平的風險。

As prices see a slight upswing, Alphractal, an advanced on-chain data and investment platform, has reported that Bitcoin’s Open Interest (OI) has witnessed a sharp decline. BTC’s open interest decline signals a shift in market sentiment as investors withdraw their positions in the face of continued volatility.

當價格看到略有上升時，Alphractal是一個先進的鏈上數據和投資平台，報導比特幣的開放興趣（OI）見證了急劇下降的幅度。 BTC的開放興趣下降標誌著市場情緒的轉變，因為投資者面對持續波動，他們的頭寸撤回了自己的立場。

Furthermore, this decrease in open interest, which typically serves as a sign of speculative activity, is likely to lead to price fluctuations in the short term since leverage is being reduced. With the metric decreasing, determining BTC’s next price becomes difficult, causing investors to adopt strategic approaches.

此外，由於槓桿率降低，因此通常可以作為投機活動的跡象的開放利息下降可能會導致價格波動。隨著度量的減少，確定BTC的下一個價格變得困難，導致投資者採用戰略方法。

Data from the on-chain platform shows that the open interest fell by over $7.4 billion in the last 7 days. This drop was recorded among all crypto exchanges except for the Hong Kong-based trading platform Bitfinex, which experienced a slight increase.

鍊鍊平台的數據表明，過去7天的開放利息下降了超過74億美元。除了基於香港的交易平台Bitfinex之外，所有加密交易所都記錄了這一下降，後者略有增加。

Alphractal also highlighted the massive liquidation of leveraged positions, triggering  Monday’s volatility. Should this trend continue, confidence among derivatives traders would drop, influencing BTC’s short-term price prospects.

字形還強調了槓杆位置的大量清算，從而觸發了周一的波動性。如果這種趨勢持續下去，衍生品交易者之間的信心會下降，從而影響了BTC的短期價格前景。

While Bitcoin’s open interest has declined sharply, the aggregated funding rate is still in positive territory in spite of these sell-offs. Such developments suggest that long positions continue to dominate at the current price level.

儘管比特幣的開放興趣急劇下降，但儘管這些拋售，總共籌資率仍處於積極的領域。這樣的事態發展表明，在當前價格水平上，長職位繼續占主導地位。

BTC’s Long-Term Holders Are Adding To Their Holdings

BTC的長期持有人正在增加其股份

Amid the drop in BTC’s open interest, long-term investors are showing confidence in the flagship asset, as reported by Darkfost, an on-chain and technical expert. Over the last 30 days, long-term holders have purchased over 159,000 BTC, reflecting strong interest in the asset. 

在BTC開放興趣的下降中，長期投資者對旗艦資產表現出信心，正如鍊和技術專家Darkfost報導的那樣。在過去的30天中，長期持有人購買了159,000多個BTC，反映了對資產的濃厚興趣。

According to the expert, these long-term holders have been accumulating Bitcoin despite recent volatility, which is a sign of market growth. Although this is a positive sign, Darkfost stated it does not always indicate that the bottom is in. 

據專家說，儘管最近波動性，這些長期持有人仍在積累比特幣，這是市場增長的標誌。儘管這是一個積極的信號，但DarkFost表示，並不總是表明底部所在。

This is because these accumulation periods can last for several months, akin to bear market phases. Meanwhile, the market uncertainty still lingers, caused by the deteriorated macroeconomic climate as well as political issues like United States President Donald Trump’s initiatives.

這是因為這些積累期可以持續幾個月，類似於熊市階段。同時，由於宏觀經濟氣候惡化以及美國總統唐納德·特朗普（Donald Trump）的倡議，市場不確定性仍然存在。

At the time of writing, BTC was trading at $85,107, indicating a more than 3% increase in the last 24 hours. Bitcoin’s trading volume has decreased by over 1%, suggesting renewed bearish sentiment.

在撰寫本文時，BTC的交易價格為85,107美元，表明過去24小時內增長了3％以上。比特幣的交易量減少了1％以上，這表明更新了看跌情緒。