比特幣 (BTC) 市場顯示出看漲潛力，未平倉合約觸及兩個月低點

加密貨幣市場顯示出令人鼓舞的跡象，比特幣的未平倉合約觸及兩個月來的最低水平，顯示拋售壓力減輕。

The crypto market is showing encouraging signs. Open interest in bitcoin has hit its lowest level in two months, indicating a decrease in selling pressure. This development comes as BTC has been fluctuating around $95,000 since late December 2024.

加密貨幣市場正在顯示出令人鼓舞的跡象。比特幣的未平倉部位已降至兩個月來的最低水平，顯示拋售壓力減輕。這項進展正值 BTC 自 2024 年 12 月下旬以來一直在 95,000 美元左右波動之際。

Bearish traders are retreating in the face of BTC’s resilience

面對比特幣的彈性，看空交易者正在撤退

On December 28, the bitcoin market experienced massive liquidations, with long positions being liquidated to the tune of $470 million.

12 月 28 日，比特幣市場出現大規模清算，多頭部位清算金額高達 4.7 億美元。

Open interest on futures contracts has dropped by 11% since peaking on December 20, falling from 668,100 BTC to 595,700 BTC. This decrease in bearish trader activity suggests limited confidence in their ability to push prices lower.

自 12 月 20 日達到高峰以來，期貨合約的未平倉合約已下降 11%，從 668,100 BTC 降至 595,700 BTC。看跌交易者活動的減少表明他們對壓低價格的能力信心有限。

The futures contracts premium is reflecting this dynamic, with a rapid rebound above 10% after briefly touching 9.5% at the end of December. More revealingly, this premium is now at 15%, signaling renewed confidence from bullish investors. This premium hit its highest level on December 20.

期貨合約溢價也反映了這一動態，繼 12 月底短暫觸及 9.5% 後，迅速反彈至 10% 以上。更能說明問題的是，這項溢價目前為 15%，顯示看漲投資者重燃信心。該溢價在12月20日達到最高水準。

The funding rate for perpetual futures contracts, a key indicator of retail trader sentiment, remains at 1.3% monthly, its highest level in over two weeks. This funding rate still remains in a zone considered neutral.

永續期貨合約的融資利率是零售交易者情緒的關鍵指標，每月仍維持在 1.3%，為兩週多來的最高水準。該融資利率仍處於中性區域。

U.S. budget impasse boosts bitcoin’s safe-haven appeal

美國預算僵局增強了比特幣的避險吸引力

A warning from Janet Yellen regarding the ceiling of the U.S. debt, which could be reached as early as January 14, is creating a favorable context for bitcoin.

珍妮特耶倫 (Janet Yellen) 關於美國債務上限的警告（最早可能在 1 月 14 日達到）為比特幣創造了有利的環境。

The political deadlock surrounding the increase in the debt ceiling, fueled by the opposition from some Republicans, is boosting bitcoin’s appeal as a safe haven.

由於一些共和黨人的反對，圍繞提高債務上限的政治僵局正在增強比特幣作為避風港的吸引力。

The growing presence of bitcoin ETFs, which now hold $105 billion in assets under management, is helping to establish crypto as a credible alternative to traditional assets during periods of economic uncertainty. This institutionalization of the market is contributing to greater stability, despite short-term volatility.

比特幣 ETF 的不斷增長，目前管理著 1050 億美元的資產，正在幫助將加密貨幣確立為經濟不確定時期傳統資產的可靠替代品。儘管有短期波動，但市場的製度化有助於提高穩定性。

In conclusion, the current market configuration—with bearish positions largely disengaged at levels below $95,000 and technical indicators pointing to bullish potential—suggests a promising outlook for bitcoin. U.S. political uncertainty is also paradoxically strengthening its status as a safe-haven asset.

總之，當前的市場格局——看跌頭寸在 95,000 美元以下的水平上基本解除​​，技術指標顯示看漲潛力——表明比特幣前景光明。矛盾的是，美國政治的不確定性也強化了其作為避險資產的地位。

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