比特幣（BTC）市場動態似乎正在向新的價格領域變化

儘管市場上的波動率很大，但比特幣還是設法將其位置保持在80,000美元的支持之上，因為它恢復了價格水平

Bitcoin has faced significant price fluctuations, but market dynamics are undergoing a notable change that would be crucial in the asset's next trajectory.

比特幣面臨著很大的價格波動，但是市場動態正在發生明顯的變化，這對於資產的下一個軌跡至關重要。

An Adjustment In Bitcoin's Market Trend

比特幣市場趨勢的調整

This persistent move comes after the flagship asset's notable correction of about -30%, signaling a period of stabilization. A stabilization of BTC's price suggests that momentum is building for its next major move. However, a breakdown could still occur, triggering renewed selling pressure among investors and traders if Bitcoin fails to maintain key support levels.

這種持續的舉動是在旗艦資產的顯著糾正約為-30％之後，標誌著一段穩定時期。 BTC價格的穩定表明，動力正在為下一個重大舉措而發展。但是，如果比特幣無法維持關鍵支持水平，則可能會發生故障，從而引發投資者和交易員之間的新銷售壓力。

"At present, liquidity conditions are decreasing in both the on-chain and futures markets as the price continues to swing. As to where the market is in a strong overbought or oversold zone, it remains to be seen. In addition, long-term Bitcoin holders remain largely dormant, which supports the notion of a slow market and sideways price performance," the on-chain platform noted in a recent X post.

"At present, liquidity conditions are decreasing in both the on-chain and futures markets as the price continues to swing. As to where the market is in a strong overbought or oversold zone, it remains to be seen. In addition, long-term Bitcoin holders remain largely dormant, which supports the notion of a slow market and sideways price performance," the on-chain platform noted in a recent X post.

Bitcoin Long-Term Holder Count Remains Stagnant Since December 2023

比特幣長期持有人數自2023年12月以來一直停滯不前

A substantial drop in BTC's Open Interest (OI) in a period of 2 weeks is also reflecting the slow market. Almost $10 billion in open interest was lost between February 20 and March 4, on-chain and technical expert Darkfost reported.

在2週內，BTC的開放興趣（OI）大幅下降也反映了市場緩慢。據報導，在2月20日至3月4日之間，近100億美元的開放利息損失了。

This decline in open interest is equivalent to the previous drop in a period of 2 months. It is worth noting that Bitcoin's open interest has fallen since it hit an all-time high of over $33 billion on January 17, reflecting its highest level of leverage in the market.

開放興趣的這種下降相當於2個月內的前幾次下降。值得注意的是，比特幣的開放興趣自1月17日達到330億美元以上的歷史最高水平，這反映了其在市場上的最高水平。

However, there has been a significant liquidation of leverage following the recent panic caused by political instability due to US President Donald Trump's action. Thus Darkfost claims that the BTC market is deleveraging.

但是，由於美國總統唐納德·特朗普（Donald Trump）的行動，最近由於政治動盪而引起的恐慌之後，槓桿作用已大量清算。因此，Darkfost聲稱BTC市場是去槓桿化的。

While the development raises serious concerns, the expert noted that it is a necessary stage for maintaining a bullish continuation and can be considered a natural market reset. The Aggregated Open Interest metric illustrates these reset stages by highlighting times when the 90-day open interest change is negative. Meanwhile, the open interest change for 90-day Bitcoin futures has plummeted to -14%.

儘管該發展引起了嚴重的關注，但專家指出，它是維持看漲延續的必要階段，可以被視為自然市場。匯總的開放興趣指標通過突出90天的開放興趣變化為負面的時間來說明這些重置階段。同時，90天比特幣期貨的開放興趣變化跌至-14％。