分析師警告稱，比特幣價格修正即將減半

儘管減半事件即將到來，但 CryptoQuant 分析師警告稱，比特幣 (BTC) 仍然容易受到價格大幅調整的影響。由於高持倉量和樂觀的市場情緒，對於槓桿交易者來說，市場處於潛在危險區域。大幅調整可能會打破比特幣當前的價格結構，導致比特幣在觸及新高之前進一步下跌。

Bitcoin Correction Risk Looms Ahead of Halving Event, Analyst Warns

分析師警告稱，減半事件之前比特幣修正風險迫在眉睫

Amidst the impending halving event, Bitcoin (BTC) faces a heightened risk of a significant price correction, according to an analysis by CryptoQuant analyst Gaah.

根據 CryptoQuant 分析師 Gaah 的分析，在即將到來的減半事件中，比特幣 (BTC) 面臨著價格大幅調整的風險。

Danger Zone for Leveraged Traders

槓桿交易者的危險區

Observing the open interest range for Bitcoin, Gaah notes that it currently hovers in the middle range, indicating a neutral sentiment among investors in terms of new positions. However, the price of BTC remains within the region of the previous top positions established in March.

Gaah 觀察比特幣的未平倉合約範圍，指出目前它徘徊在中間區間，這表明投資者對新頭寸持中性情緒。然而，BTC 的價格仍處於 3 月建立的先前最高位置的區域內。

Crucially, the open interest range exhibits volatility in the upper region, implying the potential for further liquidations by leveraged traders seeking liquidity. Gaah emphasizes that this price zone is particularly perilous for traders, and substantial pressure could trigger a correction that would reshape the asset's price structure, driving BTC lower before it can reach new all-time highs.

至關重要的是，未平倉合約範圍在上部區域表現出波動性，這意味著尋求流動性的槓桿交易者有可能進一步清算。 Gaah 強調，這個價格區域對交易者來說尤其危險，巨大的壓力可能會引發調整，從而重塑該資產的價格結構，推動 BTC 在達到新的歷史高點之前下跌。

"It's a dangerous price region for leveraged traders and if pressured could trigger a deeper correction breaking the current price structure. This would take the Open Interest range down to the lower band, the Region of Extreme Fear, marked in red on the chart," Gaah states.

「對於槓桿交易者來說，這是一個危險的價格區域，如果受到壓力，可能會引發更深層的修正，打破當前的價格結構。這將使未平倉合約範圍下降到下限，即圖表上以紅色標記的極度恐懼區域，」加赫說。

Euphoric Market Sentiment Fuels Concerns

欣快的市場情緒引發擔憂

Compounding the risks, the broader market sentiment remains euphoric, evidenced by elevated funding rates in the Bitcoin futures market. This indicates a period of extreme greed, creating the conditions for a potential major decline.

令風險雪上加霜的是，更廣泛的市場情緒仍然樂觀，比特幣期貨市場融資利率的上升證明了這一點。這預示著一段極度貪婪的時期，為潛在的大幅下跌創造了條件。

Post-Halving Rally Uncertain

減半後反彈不確定

Gaah's analysis comes at a juncture when BTC is attempting to recover from a three-week decline. The cryptocurrency has retreated from its all-time high of $73,700 recorded on March 14 to below $62,000. Despite briefly regaining the $70,000 mark this week, BTC has since retreated to around $69,300 at the time of writing, according to CoinMarketCap data.

Gaah 的分析是在 BTC 試圖從三週下跌中恢復的關鍵時刻做出的。該加密貨幣已從 3 月 14 日創下的歷史高點 73,700 美元回落至 62,000 美元以下。根據 CoinMarketCap 的數據，儘管 BTC 本週短暫收復 70,000 美元大關，但截至撰寫本文時，BTC 已回落至 69,300 美元左右。

Meanwhile, CryptoQuant recently highlighted that high demand from large BTC investors will be crucial in driving the asset's post-halving rally, as the impact of the quadrennial event has been diminishing.

同時，CryptoQuant 最近強調，大型 BTC 投資者的高需求對於推動資產減半後的反彈至關重要，因為四年一次的事件的影響一直在減弱。

In conclusion, while the halving event is often anticipated to trigger a surge in Bitcoin's price, analysts like Gaah caution that a deeper correction remains a significant risk due to the current market conditions. Leveraged traders and investors are advised to exercise caution and monitor market developments closely.

總之，雖然人們通常預計減半事件會引發比特幣價格飆升，但 Gaah 等分析師警告稱，由於當前的市場狀況，進一步的調整仍然是一個重大風險。建議槓桿交易者和投資人謹慎行事，密切關注市場動態。