加密量牌的新分析显示，当比特币达到89700美元时，一场重大的比特币长清算活动删除了约2.453亿美元

该活动也引起了开放兴趣的大幅度下降。快速抛售导致波动的增加，迫使交易者重新评估市场状况

A major Bitcoin (BTC) long liquidation event wiped out approximately $245.3 million when the cryptocurrency hit $89,700, according to a new analysis from CryptoQuant.

根据CryptoQuant的一项新分析，当加密货币达到89,700美元时，一项重大的比特币（BTC）长期清算活动消除了约2.453亿美元。

This event also led to a big drop in open interest and saw traders forced to reassess market conditions as Bitcoin formed a potential new support level.

这项活动还导致了开放兴趣的大幅度下降，并且随着比特币形成潜在的新支持水平，交易者被迫重新评估市场状况。

However, the rapid sell-off also led to increased volatility, which could be a concern for traders.

但是，迅速抛售也导致了波动性的增加，这可能是交易者的关注点。

The event also highlights the dangers of too much leverage in the crypto market.

该活动还强调了加密市场中杠杆过多的危险。

Long squeezes often lead to cascading liquidations, where forced sell-offs push prices lower, accelerating downward momentum.

长时间的挤压通常会导致级联清算，在这种清算中，强迫抛售的价格降低，加速下降。

How the Bitcoin Long Squeeze Unfolded

比特币长挤压如何展开

A long squeeze occurs when long-position holders are forced to sell as prices decline, explained CryptoQuant’s Amr Taha in a recent analysis.

CryptoQuant的Amr Taha在最近的分析中解释说，当长位持有人被迫随着价格下跌而被迫出售时，就会发生长时间的挤压。

This starts automatic liquidations, speeding up a fast sell-off. Bitcoin’s fall below $89K resulted in lots of liquidations, removing liquidity from the market.

这开始自动清算，加快了快速抛售。比特币的下跌低于$ 89K，导致了大量清算，从而消除了市场流动性。

As liquidation engines closed positions, large buy orders from whales and market makers absorbed the selling pressure. According to Taha, this high-volume liquidation usually levels out prices, as institutional investors use the chance to buy assets at lower prices.

当清算发动机关闭位置时，鲸鱼和做市商的大型购买订单吸收了销售压力。据塔哈（Taha）称，这种大批量清算通常会降低价格，因为机构投资者利用机会以较低的价格购买资产。

Also, he added market makers often use these liquidation zones to place limit orders at good prices.

此外，他补充说，做市商经常使用这些清算区以高价下限额订单。

Related: Bitcoin Bull Run Cycle? Chart Points to Next Phase for BTC with Price Analysis

相关：比特币公牛运行周期？图表指向BTC的下一阶段，并通过价格分析

Bitcoin Derivative Market Data

比特币衍生品市场数据

In the past 24 hours, $226.72 million was liquidated from crypto traders, with $177.52 million coming from long positions. The largest liquidation event happened in a single hour, reaching $657.28K, with short traders making up $630.62K of that amount. This underlines the market’s ongoing volatility.

在过去的24小时中，从加密货币交易员那里清算了2.2672亿美元，其中1.7752亿美元来自长位。最大的清算事件发生在一个小时内，达到657.28K美元，短交易者占了630.62k美元的金额。这强调了市场持续的波动。

Despite the liquidation, Bitcoin’s open interest (OI) increased slightly by 0.69%, reaching $57.09 billion. This uptick from over $60 billion prior to the liquidation event suggests that traders are still maintaining leveraged positions.

尽管进行了清算，但比特币的开放兴趣（OI）略有增加0.69％，达到570.9亿美元。从清算活动之前的600亿美元上升，这表明交易者仍在维持杠杆率。

Options open interest also saw growth, rising 3.33% to $32.50 billion, indicating continued interest in BTC options contracts.

期权开放利息也使增长增长，增长了3.33％，至325亿美元，表明对BTC期权合约的持续利息。

However, Bitcoin’s derivatives trading volume dropped by 18.57% to $125.73 billion, while options volume fell by 7.12% to $4.14 billion.

但是，比特币的衍生品交易量下降了18.57％，至1.2573亿美元，而期权量下降了7.12％，至41.4亿美元。

Funding Rates and Long/Short Ratios Signal Sentiment

资金率和长/短比率信号情绪

The BTC OI-weighted funding rate remains slightly positive, reflecting a neutral-to-bullish sentiment. Funding rates across major exchanges such as Binance, Bybit, and OKX are currently between 0.0010% and 0.0100%, suggesting that traders have a mixed opinion on Bitcoin’s recovery.

BTC OI加权的融资率仍然略有正向，反映出中立性的情绪。当前，Binance，Bybit和OKX等主要交易所的资金率目前在0.0010％至0.0100％之间，这表明交易员对比特币的复苏有不同的看法。

Moreover, the long/short ratios remain elevated, with Binance at 2.5423 and OKX at 2.91. This indicates that traders continue to bet on upward price movement despite the recent long liquidations.

此外，长度/短比保持升高，二元为2.5423，OKX为2.91。这表明，尽管最近清算了很长的清算，但交易者仍继续下注向上的价格变动。

Related: Bitcoin Price Prediction: $90K Break – Dip or Rebound Next?

相关：比特币价格预测：$ 90K休息 - 下一步或反弹？

What’s Next for Bitcoin?

比特币的下一步是什么？

In conclusion, while the rise in open interest indicates traders are keeping leverage, the decline in trading volume signals a possible reduction in speculative activity. If traders keep using too much leverage, the risk of more liquidation waves is still high.

总之，尽管开放兴趣的上升表明交易者保持杠杆作用，但交易量的下降信号可能会减少投机活动。如果交易者继续使用过多的杠杆作用，那么更多的清算波仍然很高。

As of the latest data, Bitcoin is trading at $88,763, marking a 0.3% decline over the past 24 hours and bringing its weekly loss to 7.1%.

截至最新数据，比特币的交易价格为88,763美元，在过去24小时内下降了0.3％，并将其每周亏损提高到7.1％。

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