比特幣（BTC）開放興趣從歷史最高高度下降了35％，這意味著對沖和投機性交易

開放興趣在任何時候跟踪未銷售衍生合同的總數

Open interest in Bitcoin (BTC) has dropped 35% from its all-time high, indicating less hedging and speculative trading, according to Glassnode.

根據GlassNode的數據，對比特幣（BTC）的開放興趣已從其歷史最高升高下降了35％，表明對沖和投機性交易較少。

Bitcoin open interest drops as market uncertainty lessens

隨著市場不確定性減少，比特幣開放興趣下降

隨著市場不確定性減少，比特幣開放興趣下降

Open interest, which tracks the total number of outstanding derivative contracts at any time, reached a peak of $57 billion when BTC hit its all-time high of $109,000. However, it has since decreased to $24.5 billion today. This decrease in open interest suggests that market movers are closing out uncertainty or unwinding leverage.

當BTC達到其歷史最高點109,000美元時，開放興趣隨時跟踪未償還衍生品合同的總數達到570億美元。但是，此後已減少到今天的245億美元。開放興趣的減少表明，市場推動者正在閉合不確定性或放鬆槓桿作用。

The digital asset is now attempting to regain momentum after recent selling pressure. Despite hitting an ATH of over $109,000 in January, Bitcoin has struggled to reclaim the $90,000 level, which serves as a crucial resistance.

在最近的銷售壓力之後，數字資產現在正試圖恢復動力。儘管一月份達到了超過109,000美元的ATH，但比特幣仍在努力收回90,000美元的水平，這是至關重要的抵抗。

Bitcoin has been attempting to break above the $90,000 resistance level for the last two weeks. This follows its failure to remain upward after hitting its all-time high, putting downward pressure on BTC and sparking speculation on whether the most recent bull run was complete or if a second rally could see it soar higher than ever.

在過去兩周中，比特幣一直試圖超過90,000美元的電阻水平。這是因為它在達到歷史最高水平之後未能保持向上，對BTC施加了向下壓力，並激發了人們對最近的公牛奔跑是否完成的猜測，或者第二次集會是否可以看到它比以往任何時候都高。

This fall in open interest comes amid an overall trend of falling on-chain liquidity, according to on-chain data provider Glassnode. The unwinding of long-side bias from cash-and-carry trade, where traders make money on the difference between spot and futures prices, has also contributed to downward pressure.

根據鍊鍊數據提供商GlassNode的數據，這是鏈接流動性下降的總體趨勢，這是一個開放興趣。從現金和交易中，貿易商在現貨和期貨價格之間的差額中賺錢的長期偏見也導致了下降壓力。

Furthermore, some CME futures contracts are terminating, which puts more pressure on the price of Bitcoin. The Bitcoin exchange-traded funds (ETFs) are also under pressure and recorded outflows.

此外，一些CME期貨合約正在終止，這給比特幣的價格帶來了更大的壓力。比特幣交易所交易的基金（ETF）也處於壓力下並記錄了流出。

Another notable shift is the decline in BTC’s “Hot Supply”—coins held for one week or less. In the last three months, the hot supply dropped from 5.9% of Bitcoin’s circulating supply to a mere 2.8%, a decline of more than 50%. This suggests fewer newly acquired Bitcoins are being actively traded, reducing market liquidity.

另一個值得注意的轉變是BTC“熱供應”的下降 - 持有一周或更短的股份。在過去的三個月中，熱供應從比特幣循環供應的5.9％下降到僅2.8％，下降超過50％。這表明，正在積極交易的新收購比特幣更少，從而降低了市場流動性。

Bitcoin exchange inflows have also dramatically declined, going from 58,600 BTC / day to 26,900 BTC / day — a 54% decrease. While that may signal less selling pressure, it also means that demand is weaker, as fewer coins are being sent to exchanges to be traded.

比特幣交換的流入也大大下降，從58,600 BTC /天增加到26,900 BTC /天，下降了54％。雖然這可能表明銷售壓力較小，但這也意味著需求較弱，因為將硬幣發送到交易的交易量較少。

BTC is currently trading at $84,001, holding above the important support at $85,000. Industry analyst “Unknown Trader” stressed that the Bitcoin uptrend is only intact above this level, and BTC only closed recently.

BTC目前的交易價格為84,001美元，持有高於重要的支持，為85,000美元。行業分析師“未知交易者”強調，比特幣上升趨勢僅超過此級別，而BTC最近才關閉。

Additionally, the asset remains above the 200-day moving average, a historically bullish indicator for long-term price momentum. BTC is back up to the retest of around $85,000 again. If it soars, analysts anticipate a move to the resistance zone of $90,500-$92,441. Yet, this solid rejection level can keep fine-tuning a swoop back up until another retest at $85,000.

此外，資產仍然高於200天移動平均水平，這是歷史上看漲的長期價格勢頭的指標。 BTC再次重新獲得了約85,000美元的重新測試。如果飆升，分析師預計將轉移到90,500- $ 92,441的電阻區。但是，這種穩固的拒絕水平可以繼續進行微調，直到再次重新測試為85,000美元。

CryptoQuant analyst Woominkyu, for his part, reported potential institutional accumulation. He pointed out how the 30-day EMA of the Coinbase Premium Index is struggling to cross above the one-hundred-day EMA.

加密分析師Woominkyu就其出現了潛在的機構積累。他指出，Coinbase Premium指數的30天EMA如何努力超過一百天EMA。

This crossover happened before BTC’s price rallies typically; therefore, institutional players could be accumulating Bitcoin. As institutional demand continues to pour in, BTC’s price could still rise, prolonging this bull market instead of signaling its top.

這種交叉發生在BTC的價格集會通常是在通常的情況下發生的。因此，機構參與者可能會積累比特幣。隨著機構需求繼續湧入，BTC的價格仍然可能上升，延長了這個牛市，而不是發出最高的信號。