在过去的一天

数据表明，比特币开放兴趣与BTC价格最新恢复旁边急剧增加，这一标志可能不是正面的。

Bitcoin price kicked off the week with a crash to the $98,000 level, but the cryptocurrency now appears to be headed for a positive close to the week as it has recovered back above $105,000.

比特币价格在一周的撞车事故中脱颖而出，达到98,000美元，但是现在的加密货币似乎已经靠近一周，因为它已经恢复了105,000美元以上。

This latest recovery in the BTC price comes after a sustained decline that began at a new all-time high of $118,000.

BTC价格的最新恢复是在持续下降的持续下降之后，历史新高118,000美元。

Bitcoin Has Recovered Back Above $105,000 During Past Day

过去一天，比特币恢复了105,000美元以上

Bitcoin began to experience a strong rally last week that pushed it to a new all-time high. However, the rally stalled at this peak and the cryptocurrency started to decline.

上周，比特币开始体验强烈的集会，将其推向了新的高潮。但是，集会在这个高峰上停滞不前，加密货币开始下降。

This decline continued for several days and brought the coin to a low of $98,000. At this level, BTC found some support and began to rebound, leading to the recovery seen over the last few days.

这种下降持续了几天，将硬币提高到98,000美元。在这个级别上，BTC找到了一些支持并开始反弹，从而导致了过去几天的恢复。

As of writing, the cryptocurrency has even broken above $106,000 earlier today, though it has since retraced slightly and now trades at $105,700. Despite this pullback, BTC is still up about 4 percent in the last 24 hours.

截至撰写本文时，今天早些时候的加密货币甚至已经折断了106,000美元，尽管此后略有回顾，现在以105,700美元的价格进行了交易。尽管有这种回调，但在过去的24小时内，BTC仍在增长约4％。

One question that’s now bound to be on the minds of investors is whether this recovery will be sustainable. There are many factors at play here, but one that might point to a negative outcome is the trend in the Open Interest.

现在，投资者心目中的一个问题是，这种复苏是否将是可持续的。这里有许多因素，但可能指出负面结果的一个因素是开放兴趣的趋势。

BTC Open Interest Has Just Seen A Big Jump

BTC开放兴趣刚刚看到了很大的跳跃

As explained by CryptoQuant community analyst Maartunn in a new post on Medium, the Bitcoin Open Interest has seen some rapid growth alongside the latest rally in the cryptocurrency’s price.

正如加密社区分析师Maartunn在新文章中所解释的那样，比特币的开放兴趣与加密货币价格的最新集会相同，有了一些迅速的增长。

The “Open Interest” here refers to an indicator that keeps track of the total amount of BTC-related positions that are currently open on all centralized derivatives exchanges.

这里的“开放兴趣”是指一个指标，该指标可以跟踪目前在所有集中式衍生品交易所开放的BTC相关头寸的总数。

When the value of this metric rises, it means the derivatives users are opening up fresh positions in the market. Typically, the leverage present in the sector goes up when this trend forms, and the asset can start behaving in a more volatile manner.

当该指标的价值上升时，这意味着衍生品用户正在市场上开设新的位置。通常，当这种趋势形成时，该行业中存在的杠杆率会上升，并且资产可以开始以更挥发的方式行事。

On the other hand, the indicator going down implies the holders are either closing up positions of their own accord or ending up getting forcibly liquidated by their platform. BTC can see calmer price action following such a decrease.

另一方面，下降的指标意味着持有人要么要自行关闭位置，要么最终被其平台强行清算。 BTC可以在如此下降之后看到平静的价格行动。

Now, here is the chart shared by the analyst that shows the trend in the Bitcoin Open Interest, as well as its 24-hour percentage change, over the past week:

现在，这是分析师共享的图表，该图表显示了比特币开放兴趣的趋势及其在过去一周的24小时变化的趋势：

As displayed in the above graph, the Bitcoin Open Interest has shot up over the past day, which suggests the traders have opened up a large amount of positions on the derivatives market.

如上图中所示，比特币开放兴趣在过去一天中已经兴起，这表明交易者已经在衍生品市场上开设了大量职位。

The scale of the increase is quite notable, as is visible from the plot of the 24-hour percentage change. Maartunn has noted that this means the asset’s rally is being driven by leverage.

增加的规模非常值得注意，从24小时百分比变化的情节中可以看到。 Maartunn指出，这意味着资产的集会是由杠杆驱动的。

Historically, this is something that hasn’t been a good sign for any price move’s longevity, as mass liquidation events can become probable to take place in these market conditions.

从历史上看，这对于任何价格转移的寿命来说都不是一个好兆头，因为大规模清算事件可能在这些市场条件下发生。

Such events tend to be quite violent and can flip the market in the blink of an eye. It now remains to be seen whether the rally can push on regardless of the overheated derivatives market, or if a squeeze will cause at least a temporary pullback.

这些事件往往很暴力，可以眨眼间将市场翻转。现在，不管过热的衍生品市场，还是挤压至少会引起暂时的回调，是否可以推动拉力赛，是否可以推动集会。