未平倉合約激增顯示投資者對比特幣現金減半的預期

比特幣現金永續期貨合約的未平倉合約已飆升至7 億美元以上，這表明在4 月4 日即將到來的減半事件之前，交易活動和投資者興趣將會增加。儘管最近價格上漲，但BCH 仍遠低於其創下的4,355 美元的歷史高點2017年。

Soaring Open Interest Precedes Bitcoin Cash Halving

比特幣現金減半前未平倉合約飆升

In the lead-up to the highly anticipated Bitcoin Cash (BCH) halving event, open interest in BCH perpetual futures contracts has surged to an unprecedented $700 million. This surge in trading activity and investor interest signals growing market anticipation for the upcoming halving, scheduled to occur on April 4.

在備受期待的比特幣現金 (BCH) 減半事件之前，BCH 永續期貨合約的未平倉合約已飆升至前所未有的 7 億美元。交易活動和投資者興趣的激增表明，市場對即將於 4 月 4 日發生的減半的預期不斷增強。

The last BCH halving in May 2021 witnessed a similar surge in open interest, accompanied by a significant price increase. While the current market conditions differ significantly from those of the previous halving, with BCH's price still significantly below its all-time high of $4,355, the rising open interest suggests market optimism remains strong.

上一次 BCH 減半發生在 2021 年 5 月，未平倉合約也出現了類似的激增，同時價格也大幅上漲。儘管當前的市場狀況與先前減半時的情況有很大不同，BCH 的價格仍遠低於 4,355 美元的歷史高點，但未平倉合約的增加表明市場樂觀情緒依然強勁。

Despite the pre-halving rally, BCH's price remains substantially lower than its peak, indicating that the market has yet to reach the same level of euphoria seen in the past. Nonetheless, the rising open interest is a positive sign that investors are preparing for the potential impact of the halving.

儘管減半前出現反彈，但 BCH 的價格仍遠低於峰值，這表明市場尚未達到過去的興奮水平。儘管如此，未平倉合約的增加是一個積極的信號，表明投資者正在為減半的潛在影響做好準備。

Notably, the BCH halving precedes the Bitcoin (BTC) halving, scheduled for April 21. This divergence in dates stems from an algorithmic adjustment implemented in 2017 that accelerated block creation time on the BCH network.

值得注意的是，BCH 減半先於定於4 月21 日進行的比特幣(BTC) 減半。這種日期差異源於2017 年實施的演算法調整，該調整加快了BCH 網路上的區塊創建時間。

Concurrent with the surge in open interest, BCH's hash rate has also experienced a rise in recent weeks, suggesting an increase in mining power ahead of the halving. This combination of indicators paints a positive picture of growing optimism and expectations among investors and participants in the BCH market.

在未平倉合約激增的同時，BCH的算力在最近幾週也出現了上升，這表明在減半之前算力有所增加。這些指標的組合描繪了 BCH 市場投資者和參與者日益樂觀和期望的積極景象。

As the halving approaches, market participants will closely monitor price movements, seeking to gauge whether the current trend will continue or if a correction is imminent. The halving event has historically been a catalyst for price volatility, and it remains to be seen how the market will react in the coming days and weeks.

隨著減半的臨近，市場參與者將密切關注價格走勢，試圖判斷當前的趨勢是否會持續，或是否即將出現調整。從歷史上看，減半事件一直是價格波動的催化劑，未來幾天和幾週市場將如何反應仍有待觀察。