随着市场动态的掉头，比特币（BTC）开放兴趣急剧下降

由于几个关键指标表现出负面趋势，比特币的市场动态可能会发生急剧的转变。

The beginning of this week has turned out to be bullish for Bitcoin after several weeks of robust volatility, which constrained its price below the $90,000 level. Although BTC’s price has briefly gained upside movements, there is potential for a pullback as its Open Interest shows significant weakness.

经过数周强大的波动性，本周开始的比特币是看好比特币的看涨，这限制了其价格低于90,000美元的水平。尽管BTC的价格已短暂地获得了上升的变动，但由于其开放兴趣表现出明显的弱点，因此有可能引起回调。

A Sharp Drop In Bitcoin’s Open Interest

比特币的开放兴趣急剧下降

Bitcoin’s market dynamics could be taking a drastic turnaround as several key metrics display a negative trend. These metrics’ waning performance in conjunction with recent price fluctuations raises the risk of BTC witnessing a further decline to key support levels.

由于几个关键指标表现出负面趋势，比特币的市场动态可能会发生急剧的转变。这些指标与最近的价格波动结合使用的衰落表现增加了BTC进一步下降到关键支持水平的风险。

As prices see a slight upswing, Alphractal, an advanced on-chain data and investment platform, has reported that Bitcoin’s Open Interest (OI) has witnessed a sharp decline. BTC’s open interest decline signals a shift in market sentiment as investors withdraw their positions in the face of continued volatility.

当价格看到略有上升时，Alphractal是一个先进的链上数据和投资平台，报道比特币的开放兴趣（OI）见证了急剧下降的幅度。 BTC的开放兴趣下降标志着市场情绪的转变，因为投资者面对持续波动，他们的头寸撤回了自己的立场。

Furthermore, this decrease in open interest, which typically serves as a sign of speculative activity, is likely to lead to price fluctuations in the short term since leverage is being reduced. With the metric decreasing, determining BTC’s next price becomes difficult, causing investors to adopt strategic approaches.

此外，由于杠杆率降低，因此通常可以作为投机活动的迹象的开放利息下降可能会导致价格波动。随着度量的减少，确定BTC的下一个价格变得困难，导致投资者采用战略方法。

Data from the on-chain platform shows that the open interest fell by over $7.4 billion in the last 7 days. This drop was recorded among all crypto exchanges except for the Hong Kong-based trading platform Bitfinex, which experienced a slight increase.

链链平台的数据表明，过去7天的开放利息下降了超过74亿美元。除了基于香港的交易平台Bitfinex之外，所有加密交易所都记录了这一下降，后者略有增加。

Alphractal also highlighted the massive liquidation of leveraged positions, triggering  Monday’s volatility. Should this trend continue, confidence among derivatives traders would drop, influencing BTC’s short-term price prospects.

字形还强调了杠杆位置的大量清算，从而触发了周一的波动性。如果这种趋势持续下去，衍生品交易者之间的信心会下降，从而影响了BTC的短期价格前景。

While Bitcoin’s open interest has declined sharply, the aggregated funding rate is still in positive territory in spite of these sell-offs. Such developments suggest that long positions continue to dominate at the current price level.

尽管比特币的开放兴趣急剧下降，但尽管这些抛售，总共筹资率仍处于积极的领域。这样的事态发展表明，在当前价格水平上，长职位继续占主导地位。

BTC’s Long-Term Holders Are Adding To Their Holdings

BTC的长期持有人正在增加其股份

Amid the drop in BTC’s open interest, long-term investors are showing confidence in the flagship asset, as reported by Darkfost, an on-chain and technical expert. Over the last 30 days, long-term holders have purchased over 159,000 BTC, reflecting strong interest in the asset. 

在BTC开放兴趣的下降中，长期投资者对旗舰资产表现出信心，正如链和技术专家Darkfost报道的那样。在过去的30天中，长期持有人购买了159,000多个BTC，反映了对资产的浓厚兴趣。

According to the expert, these long-term holders have been accumulating Bitcoin despite recent volatility, which is a sign of market growth. Although this is a positive sign, Darkfost stated it does not always indicate that the bottom is in. 

据专家说，尽管最近波动性，这些长期持有人仍在积累比特币，这是市场增长的标志。尽管这是一个积极的信号，但DarkFost表示，并不总是表明底部所在。

This is because these accumulation periods can last for several months, akin to bear market phases. Meanwhile, the market uncertainty still lingers, caused by the deteriorated macroeconomic climate as well as political issues like United States President Donald Trump’s initiatives.

这是因为这些积累期可以持续几个月，类似于熊市阶段。同时，由于宏观经济气候恶化以及美国总统唐纳德·特朗普（Donald Trump）的倡议，市场不确定性仍然存在。

At the time of writing, BTC was trading at $85,107, indicating a more than 3% increase in the last 24 hours. Bitcoin’s trading volume has decreased by over 1%, suggesting renewed bearish sentiment.

在撰写本文时，BTC的交易价格为85,107美元，表明过去24小时内增长了3％以上。比特币的交易量减少了1％以上，这表明更新了看跌情绪。