比特币（BTC）市场动态似乎正在向新的价格领域变化

尽管市场上的波动率很大，但比特币还是设法将其位置保持在80,000美元的支持之上，因为它恢复了价格水平

Bitcoin has faced significant price fluctuations, but market dynamics are undergoing a notable change that would be crucial in the asset's next trajectory.

比特币面临着很大的价格波动，但是市场动态正在发生明显的变化，这对于资产的下一个轨迹至关重要。

An Adjustment In Bitcoin's Market Trend

比特币市场趋势的调整

This persistent move comes after the flagship asset's notable correction of about -30%, signaling a period of stabilization. A stabilization of BTC's price suggests that momentum is building for its next major move. However, a breakdown could still occur, triggering renewed selling pressure among investors and traders if Bitcoin fails to maintain key support levels.

这种持续的举动是在旗舰资产的显着纠正约为-30％之后，标志着一段稳定时期。 BTC价格的稳定表明，动力正在为下一个重大举措而发展。但是，如果比特币无法维持关键支持水平，则可能会发生故障，从而引发投资者和交易员之间的新销售压力。

"At present, liquidity conditions are decreasing in both the on-chain and futures markets as the price continues to swing. As to where the market is in a strong overbought or oversold zone, it remains to be seen. In addition, long-term Bitcoin holders remain largely dormant, which supports the notion of a slow market and sideways price performance," the on-chain platform noted in a recent X post.

"At present, liquidity conditions are decreasing in both the on-chain and futures markets as the price continues to swing. As to where the market is in a strong overbought or oversold zone, it remains to be seen. In addition, long-term Bitcoin holders remain largely dormant, which supports the notion of a slow market and sideways price performance," the on-chain platform noted in a recent X post.

Bitcoin Long-Term Holder Count Remains Stagnant Since December 2023

比特币长期持有人数自2023年12月以来一直停滞不前

A substantial drop in BTC's Open Interest (OI) in a period of 2 weeks is also reflecting the slow market. Almost $10 billion in open interest was lost between February 20 and March 4, on-chain and technical expert Darkfost reported.

在2周内，BTC的开放兴趣（OI）大幅下降也反映了市场缓慢。据报道，在2月20日至3月4日之间，近100亿美元的开放利息损失了。

This decline in open interest is equivalent to the previous drop in a period of 2 months. It is worth noting that Bitcoin's open interest has fallen since it hit an all-time high of over $33 billion on January 17, reflecting its highest level of leverage in the market.

开放兴趣的这种下降相当于2个月内的前几次下降。值得注意的是，比特币的开放兴趣自1月17日达到330亿美元以上的历史最高水平，这反映了其在市场上的最高水平。

However, there has been a significant liquidation of leverage following the recent panic caused by political instability due to US President Donald Trump's action. Thus Darkfost claims that the BTC market is deleveraging.

但是，由于美国总统唐纳德·特朗普（Donald Trump）的行动，最近由于政治动荡而引起的恐慌之后，杠杆作用已大量清算。因此，Darkfost声称BTC市场是去杠杆化的。

While the development raises serious concerns, the expert noted that it is a necessary stage for maintaining a bullish continuation and can be considered a natural market reset. The Aggregated Open Interest metric illustrates these reset stages by highlighting times when the 90-day open interest change is negative. Meanwhile, the open interest change for 90-day Bitcoin futures has plummeted to -14%.

尽管该发展引起了严重的关注，但专家指出，它是维持看涨延续的必要阶段，可以被视为自然市场。汇总的开放兴趣指标通过突出90天的开放兴趣变化为负面的时间来说明这些重置阶段。同时，90天比特币期货的开放兴趣变化跌至-14％。