比特币期权市场预示着 50,000 美元的潜在痛点

3 月 29 日，Deribit 加密货币交易所价值超过 94 亿美元的比特币 (BTC) 期权即将到期，分析师表示“最大痛苦”价格约为 50,000 美元。该价格代表了最未平仓期权合约的执行价格，表明如果价格跌破该水平，大多数期权持有者可能会在到期时遭受财务损失。

Closing Options Signal a Potential "Max Pain" for Bitcoin Around $50,000

关闭期权标志着比特币潜在的“最大痛苦”约为 50,000 美元

With over $9.4 billion worth of Bitcoin (BTC) options set to expire on the Deribit cryptocurrency exchange on March 29th, observers are anticipating a reckoning that could potentially drive Bitcoin's price towards the $50,000 range.

Deribit 加密货币交易所价值超过 94 亿美元的比特币 (BTC) 期权将于 3 月 29 日到期，观察人士预计，这一清算可能会将比特币的价格推向 50,000 美元的区间。

$50,000: A Painful Prospect for Bitcoin Options Holders?

50,000 美元：比特币期权持有者的痛苦前景？

Over 134,000 BTC in open interest is poised to expire on Friday, with data from Unfolded indicating that the "max pain" price—the strike price with the most outstanding options contracts that would result in financial losses for the majority of holders—could be close to $50,000.

超过 134,000 个 BTC 的未平仓合约将于周五到期，Unfolded 的数据表明，“最大痛苦”价格（最未平仓期权合约的执行价格，将导致大多数持有者遭受财务损失）可能会接近至 50,000 美元。

ETFs: A Double-Edged Sword for Bitcoin's Ascent

ETF：比特币崛起的双刃剑

CryptoQuant CEO Ki Young Ju suggests that Bitcoin could experience a correction to around $51,000 as inflows into spot Bitcoin exchange-traded funds (ETFs) slow down. These "new whales," primarily ETF buyers, are estimated to have an on-chain cost basis of $56,000, making a 30% correction—which translates to a fall to $51,000—more likely.

CryptoQuant 首席执行官 Ki Young Ju 表示，随着现货比特币交易所交易基金 (ETF) 的流入放缓，比特币可能会回调至 51,000 美元左右。这些“新鲸鱼”（主要是 ETF 买家）的链上成本基础估计为 56,000 美元，因此更有可能出现 30% 的修正（即下跌至 51,000 美元）。

However, inflows into spot Bitcoin ETFs have picked up some steam recently, with over $15 million coming in on March 25th and an aggregate $418 million net inflow on March 26th. This suggests that the ETF factor may not be as bearish as initially anticipated.

然而，近期比特币现货 ETF 的资金流入有所增加，3 月 25 日流入超过 1500 万美元，3 月 26 日净流入总计 4.18 亿美元。这表明ETF因素可能并不像最初预期的那样看跌。

Is the Pre-Halving Correction Over for Bitcoin?

比特币减半前的调整结束了吗？

Analyst Rekt Capital believes that Bitcoin's pre-halving price correction is in line with historical patterns, having occurred right on schedule. With the price now back above $70,000, Rekt Capital sees potential for a breakout to new all-time highs if the previous high of $69,000 can be established as support.

分析师 Rekt Capital 认为，比特币减半前的价格调整符合历史模式，如期发生。随着价格现在回到 70,000 美元以上，Rekt Capital 认为，如果之前的高点 69,000 美元能够成为支撑位，那么就有可能突破历史新高。

Local Bottom in Sight for Bitcoin?

比特币已见局部底部？

A recent price correction last week and Bitcoin's subsequent recovery indicate that the price may have formed a local bottom or is close to doing so. Bitfinex analysts note that the approximate 17.5% correction from the all-time high of $73,666 suggests a local bottom may be near or already established.

上周最近的价格调整以及比特币随后的复苏表明，价格可能已经形成局部底部或接近底部。 Bitfinex 分析师指出，较历史高点 73,666 美元回调约 17.5%，表明局部底部可能已接近或已经确立。

Caution: Remember the Risks

注意：记住风险

It's important to remember that cryptocurrency trading involves inherent risks, and this article does not constitute investment advice. Conducting thorough research and making informed decisions is crucial when navigating the cryptocurrency markets.

重要的是要记住，加密货币交易涉及固有风险，本文不构成投资建议。在探索加密货币市场时，进行彻底的研究并做出明智的决策至关重要。