未平仓合约激增表明投资者对比特币现金减半的预期

比特币现金永续期货合约的未平仓合约已飙升至 7 亿美元以上，这表明在 4 月 4 日即将到来的减半事件之前，交易活动和投资者兴趣将会增加。尽管最近价格上涨，但 BCH 仍远低于其创下的 4,355 美元的历史高点2017年。

Soaring Open Interest Precedes Bitcoin Cash Halving

比特币现金减半之前未平仓合约飙升

In the lead-up to the highly anticipated Bitcoin Cash (BCH) halving event, open interest in BCH perpetual futures contracts has surged to an unprecedented $700 million. This surge in trading activity and investor interest signals growing market anticipation for the upcoming halving, scheduled to occur on April 4.

在备受期待的比特币现金 (BCH) 减半事件之前，BCH 永续期货合约的未平仓合约已飙升至前所未有的 7 亿美元。交易活动和投资者兴趣的激增表明，市场对即将于 4 月 4 日发生的减半的预期不断增强。

The last BCH halving in May 2021 witnessed a similar surge in open interest, accompanied by a significant price increase. While the current market conditions differ significantly from those of the previous halving, with BCH's price still significantly below its all-time high of $4,355, the rising open interest suggests market optimism remains strong.

上一次 BCH 减半发生在 2021 年 5 月，未平仓合约也出现了类似的激增，同时价格也大幅上涨。尽管当前的市场状况与之前减半时的情况有很大不同，BCH 的价格仍远低于 4,355 美元的历史高点，但未平仓合约的增加表明市场乐观情绪依然强劲。

Despite the pre-halving rally, BCH's price remains substantially lower than its peak, indicating that the market has yet to reach the same level of euphoria seen in the past. Nonetheless, the rising open interest is a positive sign that investors are preparing for the potential impact of the halving.

尽管减半前出现反弹，但 BCH 的价格仍远低于峰值，这表明市场尚未达到过去的兴奋水平。尽管如此，未平仓合约的增加是一个积极的信号，表明投资者正在为减半的潜在影响做好准备。

Notably, the BCH halving precedes the Bitcoin (BTC) halving, scheduled for April 21. This divergence in dates stems from an algorithmic adjustment implemented in 2017 that accelerated block creation time on the BCH network.

值得注意的是，BCH 减半先于定于 4 月 21 日进行的比特币 (BTC) 减半。这种日期差异源于 2017 年实施的算法调整，该调整加快了 BCH 网络上的区块创建时间。

Concurrent with the surge in open interest, BCH's hash rate has also experienced a rise in recent weeks, suggesting an increase in mining power ahead of the halving. This combination of indicators paints a positive picture of growing optimism and expectations among investors and participants in the BCH market.

在未平仓合约激增的同时，BCH的算力在最近几周也出现了上升，这表明在减半之前算力有所增加。这些指标的组合描绘了 BCH 市场投资者和参与者日益乐观和期望的积极景象。

As the halving approaches, market participants will closely monitor price movements, seeking to gauge whether the current trend will continue or if a correction is imminent. The halving event has historically been a catalyst for price volatility, and it remains to be seen how the market will react in the coming days and weeks.

随着减半的临近，市场参与者将密切关注价格走势，试图判断当前的趋势是否会持续，或者是否即将出现调整。从历史上看，减半事件一直是价格波动的催化剂，未来几天和几周市场将如何反应仍有待观察。