賣空者的擠壓推動比特幣反彈至 7 萬美元和未知領域

在比特幣的上漲趨勢和下跌趨勢逐漸減弱的情況下，分析師推測賣空者正面臨擠壓。正如 Swyftx 的 Pav Hundal 所言，這種情況在多頭頭寸和空頭頭寸之間創紀錄的利潤推動下，可能會將比特幣的價格推至 80,000 美元。同時，Swan Bitcoin 的 Cory Klippsten 預計多頭和空頭頭寸之間持續的拉鋸戰將得到解決，這表明對沖策略和對即將到來的比特幣減半的預期可能會影響市場活動。

Squeeze on Short-Sellers Fuels Bitcoin's Climb to $70,000 and Beyond

賣空者的擠壓推動比特幣攀升至 70,000 美元及以上

As Bitcoin (BTC) hovers around the $70,000 threshold, market participants are speculating that short-sellers are facing mounting pressure amid waning downtrends and accelerating uptrends, a dynamic that could potentially propel the cryptocurrency to $80,000, according to analysts.

分析師表示，隨著比特幣(BTC) 徘徊在70,000 美元的關口附近，市場參與者猜測，在下行趨勢減弱和上行趨勢加速的情況下，賣空者面臨著越來越大的壓力，這種動態可能會將加密貨幣推升至80,000 美元。

Insights from The Kobeissi Letter, published on March 26, suggest that the current market conditions are indicative of a classic short squeeze, characterized by a narrowing gap between institutional long positions and hedge fund short positions. Data indicates that institutions hold approximately 20,000 net long contracts, while hedge funds hold nearly 15,000 net short contracts, setting the stage for a potential capitulation among short-sellers.

3 月 26 日發表的《Kobeissi Letter》的見解表明，當前的市場狀況預示著典型的空頭擠壓，其特點是機構多頭頭寸與對沖基金空頭部位之間的差距縮小。數據顯示，機構持有約20,000份淨多頭合約，而對沖基金持有近15,000份淨空頭合約，為賣空者潛在的投降奠定了基礎。

Over the past seven days, Bitcoin's price fluctuations have become progressively shorter, trading between a low of $61,224 on March 20 and a high of $71,511 on March 26, marking an 8.7% range.

過去7天裡，比特幣的價格波動逐漸縮短，交易價格在3月20日的低點61,224美元和3月26日的高點71,511美元之間，波動幅度為8.7%。

Currently trading at $70,480, Bitcoin's ascent to $71,000 could trigger the liquidation of approximately $156.18 million in short positions, according to data. A further surge to $75,000 would liquidate $3.85 billion worth of short positions.

數據顯示，比特幣目前的交易價格為 70,480 美元，若升至 71,000 美元，可能會引發約 1.5,618 億美元的空頭部位被清算。進一步飆升至 75,000 美元將清算價值 38.5 億美元的空頭部位。

Pav Hundal, lead analyst at Swyftx, speculates that this squeeze could propel Bitcoin to unprecedented heights, with $80,000 being a potential target. Hundal suggests that a short squeeze could result in a vertical surge in Bitcoin's price, raising the possibility of reaching $100,000 before year-end.

Swyftx 首席分析師 Pav Hundal 推測，這次擠壓可能會將比特幣推向前所未有的高度，潛在目標為 80,000 美元。 Hundal 表示，空頭擠壓可能會導致比特幣價格垂直飆升，年底前達到 10 萬美元的可能性增加。

However, Swan Bitcoin CEO Cory Klippsten emphasizes the ongoing tug-of-war between long and short positions, predicting that eventually, one faction will capitulate. Klippsten notes that asset managers may be hedging their bets by holding both long and short positions, rather than engaging in a typical bull versus bears scenario. This hedging strategy suggests that institutional investors are seeking to mitigate downside risks.

然而，Swan Bitcoin 執行長 Cory Klippsten 強調多頭和空頭部位之間持續的拉鋸戰，並預測最終會有一方投降。 Klippsten 指出，資產管理公司可能會透過持有多頭和空頭部位來對沖他們的賭注，而不是參與典型的牛市與熊市情景。這種對沖策略顯示機構投資者正在尋求減輕下行風險。

Klippsten also suggests that the recent increase in Bitcoin trading activity may be driven by anticipation of the upcoming Bitcoin halving scheduled for April 21. Historically, Bitcoin halving events have been accompanied by speculative trading, where traders buy on rumors and sell on news, potentially leading to short-term price fluctuations.

Klippsten 也表示，最近比特幣交易活動的增加可能是由於對4 月21 日即將到來的比特幣減半的預期所推動的。從歷史上看，比特幣減半事件一直伴隨著投機交易，交易者根據謠言買入並根據訊息賣出，這可能會導致比特幣減半。來應對短期的價格波動。

In summary, the current market dynamics suggest that short-sellers are facing increasing pressure, creating a potential catalyst for Bitcoin's price to soar past the $70,000 mark. However, analysts caution that the ongoing tug-of-war between long and short positions may result in short-term volatility as the market awaits the outcome of this market battle.

綜上所述，當前的市場動態表明，賣空者面臨越來越大的壓力，這為比特幣價格飆升至 70,000 美元大關創造了潛在的催化劑。不過，分析師警告稱，多空部位之間持續的拉鋸戰可能會導致短期波動，市場正在等待這場市場之戰的結果。