在過去的一天

數據表明，比特幣開放興趣與BTC價格最新恢復旁邊急劇增加，這一標誌可能不是正面的。

Bitcoin price kicked off the week with a crash to the $98,000 level, but the cryptocurrency now appears to be headed for a positive close to the week as it has recovered back above $105,000.

比特幣價格在一周的撞車事故中脫穎而出，達到98,000美元，但是現在的加密貨幣似乎已經靠近一周，因為它已經恢復了105,000美元以上。

This latest recovery in the BTC price comes after a sustained decline that began at a new all-time high of $118,000.

BTC價格的最新恢復是在持續下降的持續下降之後，歷史新高118,000美元。

Bitcoin Has Recovered Back Above $105,000 During Past Day

過去一天，比特幣恢復了105,000美元以上

Bitcoin began to experience a strong rally last week that pushed it to a new all-time high. However, the rally stalled at this peak and the cryptocurrency started to decline.

上週，比特幣開始體驗強烈的集會，將其推向了新的高潮。但是，集會在這個高峰上停滯不前，加密貨幣開始下降。

This decline continued for several days and brought the coin to a low of $98,000. At this level, BTC found some support and began to rebound, leading to the recovery seen over the last few days.

這種下降持續了幾天，將硬幣提高到98,000美元。在這個級別上，BTC找到了一些支持並開始反彈，從而導致了過去幾天的恢復。

As of writing, the cryptocurrency has even broken above $106,000 earlier today, though it has since retraced slightly and now trades at $105,700. Despite this pullback, BTC is still up about 4 percent in the last 24 hours.

截至撰寫本文時，今天早些時候的加密貨幣甚至已經折斷了106,000美元，儘管此後略有回顧，現在以105,700美元的價格進行了交易。儘管有這種回調，但在過去的24小時內，BTC仍在增長約4％。

One question that’s now bound to be on the minds of investors is whether this recovery will be sustainable. There are many factors at play here, but one that might point to a negative outcome is the trend in the Open Interest.

現在，投資者心目中的一個問題是，這種複蘇是否將是可持續的。這裡有許多因素，但可能指出負面結果的一個因素是開放興趣的趨勢。

BTC Open Interest Has Just Seen A Big Jump

BTC開放興趣剛剛看到了很大的跳躍

As explained by CryptoQuant community analyst Maartunn in a new post on Medium, the Bitcoin Open Interest has seen some rapid growth alongside the latest rally in the cryptocurrency’s price.

正如加密社區分析師Maartunn在新文章中所解釋的那樣，比特幣的開放興趣與加密貨幣價格的最新集會相同，有了一些迅速的增長。

The “Open Interest” here refers to an indicator that keeps track of the total amount of BTC-related positions that are currently open on all centralized derivatives exchanges.

這裡的“開放興趣”是指一個指標，該指標可以跟踪目前在所有集中式衍生品交易所開放的BTC相關頭寸的總數。

When the value of this metric rises, it means the derivatives users are opening up fresh positions in the market. Typically, the leverage present in the sector goes up when this trend forms, and the asset can start behaving in a more volatile manner.

當該指標的價值上升時，這意味著衍生品用戶正在市場上開設新的位置。通常，當這種趨勢形成時，該行業中存在的槓桿率會上升，並且資產可以開始以更揮發的方式行事。

On the other hand, the indicator going down implies the holders are either closing up positions of their own accord or ending up getting forcibly liquidated by their platform. BTC can see calmer price action following such a decrease.

另一方面，下降的指標意味著持有人要么要自行關閉位置，要么最終被其平台強行清算。 BTC可以在如此下降之後看到平靜的價格行動。

Now, here is the chart shared by the analyst that shows the trend in the Bitcoin Open Interest, as well as its 24-hour percentage change, over the past week:

現在，這是分析師共享的圖表，該圖表顯示了比特幣開放興趣的趨勢及其在過去一周的24小時變化的趨勢：

As displayed in the above graph, the Bitcoin Open Interest has shot up over the past day, which suggests the traders have opened up a large amount of positions on the derivatives market.

如上圖中所示，比特幣開放興趣在過去一天中已經興起，這表明交易者已經在衍生品市場上開設了大量職位。

The scale of the increase is quite notable, as is visible from the plot of the 24-hour percentage change. Maartunn has noted that this means the asset’s rally is being driven by leverage.

增加的規模非常值得注意，從24小時百分比變化的情節中可以看到。 Maartunn指出，這意味著資產的集會是由槓桿驅動的。

Historically, this is something that hasn’t been a good sign for any price move’s longevity, as mass liquidation events can become probable to take place in these market conditions.

從歷史上看，這對於任何價格轉移的壽命來說都不是一個好兆頭，因為大規模清算事件可能在這些市場條件下發生。

Such events tend to be quite violent and can flip the market in the blink of an eye. It now remains to be seen whether the rally can push on regardless of the overheated derivatives market, or if a squeeze will cause at least a temporary pullback.

這些事件往往很暴力，可以眨眼間將市場翻轉。現在，不管過熱的衍生品市場，還是擠壓至少會引起暫時的回調，是否可以推動拉力賽，是否可以推動集會。