比特币（BTC）在4月24日以上的$ 93,000大关以上，这表明52天熊市的潜在结论为74,400美元。

尽管比特币开始显示与股票市场脱钩的迹象，但专业交易者并没有改变其策略，如BTC期货和保证金市场数据所示。

Despite a decisive rally that saw Bitcoin (BTC) price break above $90,000 and professional traders largely remaining on the sidelines, the crypto behemoth is continuing its ascent.

尽管一场决定性的集会使比特币（BTC）的价格下跌超过90,000美元，而专业交易员则在很大程度上保持了场外，但加密省的庞然大物仍在继续上升。

Bitcoin holds above $93K as traders prefer longs over shorts

比特币的售价超过$ 93K，因为交易者更喜欢短裤

After hitting lows of $74,400 in mid-March, Bitcoin had appeared to find a bottom around the same time that the U.S. stock market also hit lows.

在3月中旬达到74,400美元的低点之后，比特币似乎在美国股市也达到低点的同时发现了底部。

This year, professional traders had largely limited their activity in BTC futures and margin markets, preferring to observe the unfolding macroeconomic scene.

今年，专业贸易商在很大程度上限制了他们在BTC期货和利润市场中的活动，而宁愿观察不断发展的宏观经济现场。

A higher long-to-short ratio indicates a preference for long (buy) positions, while a lower ratio indicates a tilt toward short (sell) contracts.

较高的长期比率表明对长（买）头寸的偏好，而较低的比率表示倾向于短（卖出）合同。

At present, the top traders’ long-to-short ratio on Binance stands at 1.5x, marking a decrease from the 2x level observed ten days earlier. Over at OKX, the ratio peaked at nearly 1.1x on April 17 but has since lost momentum and now sits at 0.9x.

目前，最高交易者的二元比率为1.5倍，与十天前观察到的2倍水平相比下降。在OKX上，该比率在4月17日达到近1.1倍，但此后失去了动力，现在处于0.9倍。

Chart of BTC price performance vs major assets and all-time highs in 2024.

BTC价格绩效与主要资产和历史最高高点的图表。

The 10% rally in Bitcoin between April 20 and April 24 came amid a more conciliatory stance from U.S. President Donald Trump on import tariffs and his criticism of Federal Reserve Chair Jerome Powell, who has faced scrutiny for maintaining high interest rates.

在4月20日至4月24日之间，比特币的10％集会是在美国总统唐纳德·特朗普（Donald Trump）对进口关税的更和解立场以及对美联储主席杰罗姆·鲍威尔（Jerome Powell）的批评的情况下，他因维持高利率而面临审查。

On April 24, Trump stated that he had “no intention” of firing Powell, marking a shift from his prior comments.

4月24日，特朗普表示，他“无意”解雇鲍威尔，这标志着他先前的评论的转变。

"I have no intention of firing Fed Chair Jerome Powell. I like and respect him. Perhaps, in fact, he'll do what's best for the American people and reduce the Fed Rates so that we can compete with China and beat the Tariffs imposed on us by other countries. We'll see!"

“我无意解雇美联储主席杰罗姆·鲍威尔（Jerome Powell）。我喜欢并尊重他。也许，他实际上会为美国人民做最好的事情，并降低美联储的利率，以便我们可以与中国竞争并击败其他国家对我们征收的关税。我们会看到！”

Deutsche Bank strategists have reduced their year-end S&P 500 target by 12% to 6,150 amid economic uncertainty. Meanwhile, the U.S. dollar has weakened against other major currencies, pushing the DXY index below 99 for the first time in three years.

在经济不确定性的情况下，德意志银行战略家将其年终标准普尔500目标降低了12％至6,150。同时，美元对其他主要货币的削弱，三年来首次将DXY指数提高到99以下。

Despite a modest 30-day gain of 6%, Bitcoin's performance has secured it a place among the world's top eight tradable assets, with a market capitalization of $1.84 trillion.

尽管30天的30天增长幅度为6％，但比特币的业绩使它成为世界前八名可交易资产的位置，市值为18.4万亿美元。

Short liquidations as more funds pour into Bitcoin

短暂的清算，随着越来越多的资金倒入比特币

The sharp move above $90,000 took bearish traders by surprise, leading to over $390 million in leveraged short (sell) futures liquidations between April 21 and April 22, according to data from CoinGlass.

根据Coinglass的数据，这一迅速的举动超过了90,000美元，使看跌贸易商感到惊讶，导致4月21日至4月22日之间的杠杆作用超过3.9亿美元。

More importantly, the aggregate open interest in BTC futures remains just 5% below its all-time high, suggesting that bearish traders have not yet fully exited their positions.

更重要的是，BTC期货的总开放兴趣仍然比其历史最高高的5％，这表明看跌贸易商尚未完全退出其头寸。

Should Bitcoin price continue to rise and break above the $95,000 mark, an additional $700 million in short (sell) futures positions could be liquidated, according to the data.

数据显示，如果比特币的价格继续上涨并超过95,000美元的大关，则可以清算另外7亿美元（卖出）期货头寸。

This potential short squeeze could pose a significant challenge to bears, especially considering the strong inflows into spot Bitcoin exchange-traded funds (ETFs), which amounted to over $2.2 billion between April 21 and April 23.

这种潜在的短挤压可能会对熊构成重大挑战，尤其是考虑到4月21日至4月23日之间的大量投入到现货比特币交易所交易基金（ETF）的挑战。

This influx of institutional capital is noteworthy, given that retail traders have been net sellers of Bitcoin over the past 30 days, according to Glassnode data.

根据GlassNode的数据，鉴于零售商人在过去30天内一直是比特币的净卖方，因此机构资本的这种涌入值得注意。

Moreover, SoftBank, Cantor Fitzgerald, and Tether are launching a Bitcoin treasury company called Twenty One Capital, which will begin with 42,000 BTC and plans to accumulate more through convertible bonds and equity financing.

此外，软银，康托尔·菲茨杰拉德（Cantor Fitzgerald）和特特（Tether）正在成立一家名为“二十一家资本”的比特币财政部公司，该公司将以42,000 BTC开始，并计划通过可转换债券和股权融资来积累更多的资金。

The initiative is part of a broader trend of institutions increasing their involvement in the crypto space.

该计划是制度增加其参与加密货币领域的更广泛趋势的一部分。

The muted response from top traders in BTC margin and futures markets suggests that the recent buying pressure has originated mainly from spot markets, which is generally considered a positive indicator for a sustainable bull run.

BTC利润率和期货市场中高级交易者的静音反应表明，最近的购买压力主要来自现货市场，这通常被认为是可持续公牛运行的积极指标。

The longer Bitcoin manages to consolidate above the $90,000 mark, the greater the pressure on bears to cover their shorts, and the more this level serves to reinforce the narrative of Bitcoin decoupling from the stock market. This could provide the confidence needed to challenge the $100,000 psychological threshold.

更长的比特币设法将其合并到90,000美元以上，熊覆盖短裤的压力就越大，这种水平越多地加强比特币与股票市场解耦的叙述。这可以提供挑战100,000美元的心理门槛所需的信心。