随着市场情绪的转变

传统上，清算被用作市场情绪和方向的衡量标准，并从比特币（BTC）上的Bitfinex进行判断，交易者感到很长时间的热量

Liquidations have traditionally been used as a gauge of market sentiment and direction, and judging by the Bitcoin (BTC) trades on Bitfinex, traders are feeling the heat of a long squeeze in March 2025.

传统上，清算被用作市场情绪和方向的衡量标准，并从比特币（BTC）上的Bitfinex进行判断，交易者在2025年3月感受到了长期挤压的热量。

According to the data Finbold retrieved from the crypto lending analytics platform Datamish on March 14, Bitfinex saw a wave of liquidations this month, with long positions taking a devastating hit.

根据3月14日从加密贷款分析平台Datamish检索到的数据Finbold，Bitfinex本月看到了一波清算，长位置遭受了毁灭性的命中。

Specifically, out of the total of 4,226.8 BTC liquidated, 4,196.9 of those were related to long positions, a staggering 99.29%.

具体而言，在总计4,226.8 BTC的总计中，其中4,196.9个与长位置有关，惊人的99.29％。

Generally, such long and short squeezes occur when the market moves against traders who made a leveraged trade – borrowed money to set up their investment – thus rendering the collateral (margin) insufficient and forcing the closure of the position.

通常，当市场反对从事杠杆交易的交易者（借钱以进行投资）时，会发生如此长的短挤压，从而使抵押品（利润率）不足并迫使该职位关闭。

Why are Bitcoin long positions getting wiped in March?Examining Bitcoin’s price action in 2025 and March, the long squeeze appears to be a natural extension of the cryptocurrency market bloodbath.

为什么比特币长的位置在3月会被抹去？在2025年和3月检查比特币的价格行动，长期的挤压似乎是加密货币市场血液浴缸的自然延伸。

Though BTC has been showing resilience in the $80,000 to $83,000 range, even such a support level appears somewhat underwhelming, given multiple dips, including the one toward $77,000 on March 10.

尽管BTC一直在80,000美元至83,000美元的范围内显示出弹性，但鉴于多次下降，即使在3月10日达到77,000美元的支持水平也有些不知所措。

Additionally, though the press time price range remains impressive when compared with historical levels, it, yet again, becomes bearish given that Bitcoin hit its all-time highs (ATH) above $109,000 as recently as January.

此外，尽管与历史水平相比，新闻时间的价格范围仍然令人印象深刻，但由于比特币在最近的一月份上达到了109,000美元以上，因此它再次变得看跌。

In the last 30 days, the world’s premier cryptocurrency dropped 13.41% to its press time price of $82.596, while the March share of the drop is a more modest 3.5%. Still, the month featured substantial volatility with highs above $94,000 and lows near $77,000.

在过去的30天内，全球总理加密货币的新闻时间价格下降了13.41％，而三月下降的份额为3.5％。尽管如此，这个月仍有大量波动，高于94,000美元，低点接近77,000美元。

What is next for Bitcoin in 2025Despite high hopes that Bitcoin’s bullish cycle is not over, the coin has slowly been forming a pattern akin to the summer of 2024. Specifically, between June and November of the year, BTC was on a slow downtrend, continuously finding lower lows followed by lower highs.

比特币在2025年的接下来是高希望比特币的看涨周期还没有结束，硬币慢慢地形成了一种类似于2024年夏天的模式。具体来说，在今年的6月至11月之间，BTC的下降速度很缓慢，不断地发现下部的低点较低的高高。

During the time frame and akin to the cryptocurrency’s March performance, it managed to maintain a somewhat stable level near $60,000. Such a trajectory was abruptly reversed with Donald Trump’s November re-election.

在时间范围内，类似于加密货币的三月性能，它设法保持了一个稳定的水平接近60,000美元。唐纳德·特朗普（Donald Trump）的11月连任突然扭转了这样的轨迹。

At press time, no comparable events are scheduled for the future, making the ending of the current turmoil – provided Bitcoin’s performance truly mirrors the previous summer – difficult to speculate on.

在发稿时，未来没有安排可比较的事件，这使当前动荡的结束 - 提供了比特币的性能真正反映了上个夏天 - 很难推测。

Still, previous analysis, regulatory developments, institutional adoption, and historical halving cycles have left many investors optimistic that a breakout to a new high will occur in 2025.

尽管如此，先前的分析，监管发展，机构采用和历史性的减半周期仍使许多投资者乐观地认为，将在2025年发生新的高潮。