比特幣（BTC）在4月24日以上的$ 93,000大關以上，這表明52天熊市的潛在結論為74,400美元。

儘管比特幣開始顯示與股票市場脫鉤的跡象，但專業交易者並沒有改變其策略，如BTC期貨和保證金市場數據所示。

Despite a decisive rally that saw Bitcoin (BTC) price break above $90,000 and professional traders largely remaining on the sidelines, the crypto behemoth is continuing its ascent.

儘管一場決定性的集會使比特幣（BTC）的價格下跌超過90,000美元，而專業交易員則在很大程度上保持了場外，但加密省的龐然大物仍在繼續上升。

Bitcoin holds above $93K as traders prefer longs over shorts

比特幣的售價超過$ 93K，因為交易者更喜歡短褲

After hitting lows of $74,400 in mid-March, Bitcoin had appeared to find a bottom around the same time that the U.S. stock market also hit lows.

在3月中旬達到74,400美元的低點之後，比特幣似乎在美國股市也達到低點的同時發現了底部。

This year, professional traders had largely limited their activity in BTC futures and margin markets, preferring to observe the unfolding macroeconomic scene.

今年，專業貿易商在很大程度上限制了他們在BTC期貨和利潤市場中的活動，而寧願觀察不斷發展的宏觀經濟現場。

A higher long-to-short ratio indicates a preference for long (buy) positions, while a lower ratio indicates a tilt toward short (sell) contracts.

較高的長期比率表明對長（買）頭寸的偏好，而較低的比率表示傾向於短（賣出）合同。

At present, the top traders’ long-to-short ratio on Binance stands at 1.5x, marking a decrease from the 2x level observed ten days earlier. Over at OKX, the ratio peaked at nearly 1.1x on April 17 but has since lost momentum and now sits at 0.9x.

目前，最高交易者的二元比率為1.5倍，與十天前觀察到的2倍水平相比下降。在OKX上，該比率在4月17日達到近1.1倍，但此後失去了動力，現在處於0.9倍。

Chart of BTC price performance vs major assets and all-time highs in 2024.

BTC價格績效與主要資產和歷史最高高點的圖表。

The 10% rally in Bitcoin between April 20 and April 24 came amid a more conciliatory stance from U.S. President Donald Trump on import tariffs and his criticism of Federal Reserve Chair Jerome Powell, who has faced scrutiny for maintaining high interest rates.

在4月20日至4月24日之間，比特幣的10％集會是在美國總統唐納德·特朗普（Donald Trump）對進口關稅的更和解立場以及對美聯儲主席杰羅姆·鮑威爾（Jerome Powell）的批評的情況下，他因維持高利率而面臨審查。

On April 24, Trump stated that he had “no intention” of firing Powell, marking a shift from his prior comments.

4月24日，特朗普表示，他“無意”解僱鮑威爾，這標誌著他先前的評論的轉變。

"I have no intention of firing Fed Chair Jerome Powell. I like and respect him. Perhaps, in fact, he'll do what's best for the American people and reduce the Fed Rates so that we can compete with China and beat the Tariffs imposed on us by other countries. We'll see!"

“我無意解僱美聯儲主席杰羅姆·鮑威爾（Jerome Powell）。我喜歡並尊重他。也許，他實際上會為美國人民做最好的事情，並降低美聯儲的利率，以便我們可以與中國競爭並擊敗其他國家對我們徵收的關稅。我們會看到！”

Deutsche Bank strategists have reduced their year-end S&P 500 target by 12% to 6,150 amid economic uncertainty. Meanwhile, the U.S. dollar has weakened against other major currencies, pushing the DXY index below 99 for the first time in three years.

在經濟不確定性的情況下，德意志銀行戰略家將其年終標準普爾500目標降低了12％至6,150。同時，美元對其他主要貨幣的削弱，三年來首次將DXY指數提高到99以下。

Despite a modest 30-day gain of 6%, Bitcoin's performance has secured it a place among the world's top eight tradable assets, with a market capitalization of $1.84 trillion.

儘管30天的30天增長幅度為6％，但比特幣的業績使它成為世界前八名可交易資產的位置，市值為18.4萬億美元。

Short liquidations as more funds pour into Bitcoin

短暫的清算，隨著越來越多的資金倒入比特幣

The sharp move above $90,000 took bearish traders by surprise, leading to over $390 million in leveraged short (sell) futures liquidations between April 21 and April 22, according to data from CoinGlass.

根據Coinglass的數據，這一迅速的舉動超過了90,000美元，使看跌貿易商感到驚訝，導致4月21日至4月22日之間的槓桿作用超過3.9億美元。

More importantly, the aggregate open interest in BTC futures remains just 5% below its all-time high, suggesting that bearish traders have not yet fully exited their positions.

更重要的是，BTC期貨的總開放興趣仍然比其歷史最高高的5％，這表明看跌貿易商尚未完全退出其頭寸。

Should Bitcoin price continue to rise and break above the $95,000 mark, an additional $700 million in short (sell) futures positions could be liquidated, according to the data.

數據顯示，如果比特幣的價格繼續上漲並超過95,000美元的大關，則可以清算另外7億美元（賣出）期貨頭寸。

This potential short squeeze could pose a significant challenge to bears, especially considering the strong inflows into spot Bitcoin exchange-traded funds (ETFs), which amounted to over $2.2 billion between April 21 and April 23.

這種潛在的短擠壓可能會對熊構成重大挑戰，尤其是考慮到4月21日至4月23日之間的大量投入到現貨比特幣交易所交易基金（ETF）的挑戰。

This influx of institutional capital is noteworthy, given that retail traders have been net sellers of Bitcoin over the past 30 days, according to Glassnode data.

根據GlassNode的數據，鑑於零售商人在過去30天內一直是比特幣的淨賣方，因此機構資本的這種湧入值得注意。

Moreover, SoftBank, Cantor Fitzgerald, and Tether are launching a Bitcoin treasury company called Twenty One Capital, which will begin with 42,000 BTC and plans to accumulate more through convertible bonds and equity financing.

此外，軟銀，康托爾·菲茨杰拉德（Cantor Fitzgerald）和特特（Tether）正在成立一家名為“二十一家資本”的比特幣財政部公司，該公司將以42,000 BTC開始，併計劃通過可轉換債券和股權融資來積累更多的資金。

The initiative is part of a broader trend of institutions increasing their involvement in the crypto space.

該計劃是製度增加其參與加密貨幣領域的更廣泛趨勢的一部分。

The muted response from top traders in BTC margin and futures markets suggests that the recent buying pressure has originated mainly from spot markets, which is generally considered a positive indicator for a sustainable bull run.

BTC利潤率和期貨市場中高級交易者的靜音反應表明，最近的購買壓力主要來自現貨市場，這通常被認為是可持續公牛運行的積極指標。

The longer Bitcoin manages to consolidate above the $90,000 mark, the greater the pressure on bears to cover their shorts, and the more this level serves to reinforce the narrative of Bitcoin decoupling from the stock market. This could provide the confidence needed to challenge the $100,000 psychological threshold.

更長的比特幣設法將其合併到90,000美元以上，熊覆蓋短褲的壓力就越大，這種水平越多地加強比特幣與股票市場解耦的敘述。這可以提供挑戰100,000美元的心理門檻所需的信心。