比特币（BTC）开放兴趣从历史最高高度下降了35％，这意味着对冲和投机性交易

开放兴趣在任何时候跟踪未销售衍生合同的总数

Open interest in Bitcoin (BTC) has dropped 35% from its all-time high, indicating less hedging and speculative trading, according to Glassnode.

根据GlassNode的数据，对比特币（BTC）的开放兴趣已从其历史最高升高下降了35％，表明对冲和投机性交易较少。

Bitcoin open interest drops as market uncertainty lessens

随着市场不确定性减少，比特币开放兴趣下降

随着市场不确定性减少，比特币开放兴趣下降

Open interest, which tracks the total number of outstanding derivative contracts at any time, reached a peak of $57 billion when BTC hit its all-time high of $109,000. However, it has since decreased to $24.5 billion today. This decrease in open interest suggests that market movers are closing out uncertainty or unwinding leverage.

当BTC达到其历史最高点109,000美元时，开放兴趣随时跟踪未偿还衍生品合同的总数达到570亿美元。但是，此后已减少到今天的245亿美元。开放兴趣的减少表明，市场推动者正在闭合不确定性或放松杠杆作用。

The digital asset is now attempting to regain momentum after recent selling pressure. Despite hitting an ATH of over $109,000 in January, Bitcoin has struggled to reclaim the $90,000 level, which serves as a crucial resistance.

在最近的销售压力之后，数字资产现在正试图恢复动力。尽管一月份达到了超过109,000美元的ATH，但比特币仍在努力收回90,000美元的水平，这是至关重要的抵抗。

Bitcoin has been attempting to break above the $90,000 resistance level for the last two weeks. This follows its failure to remain upward after hitting its all-time high, putting downward pressure on BTC and sparking speculation on whether the most recent bull run was complete or if a second rally could see it soar higher than ever.

在过去两周中，比特币一直试图超过90,000美元的电阻水平。这是因为它在达到历史最高水平之后未能保持向上，对BTC施加了向下压力，并激发了人们对最近的公牛奔跑是否完成的猜测，或者第二次集会是否可以看到它比以往任何时候都高。

This fall in open interest comes amid an overall trend of falling on-chain liquidity, according to on-chain data provider Glassnode. The unwinding of long-side bias from cash-and-carry trade, where traders make money on the difference between spot and futures prices, has also contributed to downward pressure.

根据链链数据提供商GlassNode的数据，这是链接流动性下降的总体趋势，这是一个开放兴趣。从现金和交易中，贸易商在现货和期货价格之间的差额中赚钱的长期偏见也导致了下降压力。

Furthermore, some CME futures contracts are terminating, which puts more pressure on the price of Bitcoin. The Bitcoin exchange-traded funds (ETFs) are also under pressure and recorded outflows.

此外，一些CME期货合约正在终止，这给比特币的价格带来了更大的压力。比特币交易所交易的基金（ETF）也处于压力下并记录了流出。

Another notable shift is the decline in BTC’s “Hot Supply”—coins held for one week or less. In the last three months, the hot supply dropped from 5.9% of Bitcoin’s circulating supply to a mere 2.8%, a decline of more than 50%. This suggests fewer newly acquired Bitcoins are being actively traded, reducing market liquidity.

另一个值得注意的转变是BTC“热供应”的下降 - 持有一周或更短的股份。在过去的三个月中，热供应从比特币循环供应的5.9％下降到仅2.8％，下降超过50％。这表明，正在积极交易的新收购比特币更少，从而降低了市场流动性。

Bitcoin exchange inflows have also dramatically declined, going from 58,600 BTC / day to 26,900 BTC / day — a 54% decrease. While that may signal less selling pressure, it also means that demand is weaker, as fewer coins are being sent to exchanges to be traded.

比特币交换的流入也大大下降，从58,600 BTC /天增加到26,900 BTC /天，下降了54％。虽然这可能表明销售压力较小，但这也意味着需求较弱，因为将硬币发送到交易的交易量较少。

BTC is currently trading at $84,001, holding above the important support at $85,000. Industry analyst “Unknown Trader” stressed that the Bitcoin uptrend is only intact above this level, and BTC only closed recently.

BTC目前的交易价格为84,001美元，持有高于重要的支持，为85,000美元。行业分析师“未知交易者”强调，比特币上升趋势仅超过此级别，而BTC最近才关闭。

Additionally, the asset remains above the 200-day moving average, a historically bullish indicator for long-term price momentum. BTC is back up to the retest of around $85,000 again. If it soars, analysts anticipate a move to the resistance zone of $90,500-$92,441. Yet, this solid rejection level can keep fine-tuning a swoop back up until another retest at $85,000.

此外，资产仍然高于200天移动平均水平，这是历史上看涨的长期价格势头的指标。 BTC再次重新获得了约85,000美元的重新测试。如果飙升，分析师预计将转移到90,500- $ 92,441的电阻区。但是，这种稳固的拒绝水平可以继续进行微调，直到再次重新测试为85,000美元。

CryptoQuant analyst Woominkyu, for his part, reported potential institutional accumulation. He pointed out how the 30-day EMA of the Coinbase Premium Index is struggling to cross above the one-hundred-day EMA.

加密分析师Woominkyu就其出现了潜在的机构积累。他指出，Coinbase Premium指数的30天EMA如何努力超过一百天EMA。

This crossover happened before BTC’s price rallies typically; therefore, institutional players could be accumulating Bitcoin. As institutional demand continues to pour in, BTC’s price could still rise, prolonging this bull market instead of signaling its top.

这种交叉发生在BTC的价格集会通常是在通常的情况下发生的。因此，机构参与者可能会积累比特币。随着机构需求继续涌入，BTC的价格仍然可能上升，延长了这个牛市，而不是发出最高的信号。