Altcoingordon發出有關流動性傳染的警告

5月17日，加密分析師Altcoingordon（@altcoingordon）發出了明顯的市場警告。他強調了加密清算風險在主要交換和衍生品平台上迫在眉睫。

Crypto analyst AltcoinGordon (@AltcoinGordon) has issued a stark market warning on Wednesday.

加密分析師Altcoingordon（@altcoingordon）在周三發布了鮮明的市場警告。

Major exchanges and derivatives platforms are juggling billions in leveraged positions that can be liquidated in minutes, he explained.

他解釋說，主要的交流和衍生工具平台正在以槓桿率的位置進行數十億美元的挑戰。

It WILL happen.Many will be sidelinedFew will change their lives.Choose which side you will be on.Easy as pic.twitter.com/6lD94aI7dq

它將發生。

As shared by AltcoinGordon, a heatmap shows clustered leveraged positions on Bitcoin (BTC) and Ethereum (ETH).

正如Altcoingordon共享的那樣，熱圖顯示了比特幣（BTC）和以太坊（ETH）上的槓桿率。

These clusters are essentially targets that can be “engineered” for forced liquidation by whales.Using shallow liquidity, large actors can trigger a domino effect, crashing prices in seconds.

這些集群本質上是可以被鯨魚強迫清算“工程”的目標。使用淺流動性，大型參與者可以觸發多米諾骨牌效應，並在幾秒鐘內降價。

Most importantly, traders aren't focused enough on how central the liquidation engines have become. Everyone’s watching price. Few are watching liquidation books.

最重要的是，交易者不足以專注於清算發動機的中心。每個人都在看價。很少有人看清算書。

This post has since gained traction on crypto Twitter, but not yet mainstream exposure.

此後，這篇文章在加密推特上引起了人們的關注，但尚未主流風險。

Centralized Engines Amplify Price Swings, Not Just Mirror Them

集中發動機放大價格波動，而不僅僅是鏡像

While liquidations are known risks in leveraged trading, AltcoinGordon suggests deeper issues.

儘管清算是槓桿交易中已知的風險，但Altcoingordon提出了更深入的問題。

Most liquidation mechanisms are run on proprietary algorithms by centralized platforms like Binance, Bitfinex, and major exchanges.

大多數清算機制都是通過二心，Bitfinex和主要交易所等集中式平台上的專有算法運行的。

These engines operate without public transparency or external oversight.

這些發動機在沒有公共透明度或外部監督的情況下運行。

When price volatility rises, exchanges liquidate positions to maintain solvency and margin thresholds. But in doing so, they also accelerate downward price momentum with programmed selloffs. Analysts call this "feedback liquidation."

當價格波動率上升時，交換清算頭寸以保持償付能力和保證金閾值。但是這樣做，他們也隨著編程的拋售而加速了下降價格勢頭。分析師稱此“反饋清算”。

This design flaw creates structural fragility in both bull and bear cycles. Smaller price moves can now trigger mass liquidations, especially at key resistance or support zones.

這種設計缺陷在牛和熊週期中都會產生結構性脆弱性。現在，較小的價格移動可以觸髮質量清算，尤其是在關鍵阻力或支撐區域。

As reported by Benzinga earlier this week, BTC's recent resistance at $66K has seen substantial leverage-heavy open interest building up. Similarly, Ethereum's long positions above $3,100 may be vulnerable if a similar cascade starts.

正如本辛加本週早些時候報導的那樣，BTC最近的抵抗力為66K美元，已經看到了大量的槓桿率高的開放利息。同樣，如果類似的級聯開始，以太坊的長位置以上的長度以上$ 3,100。

Traders are advised to use tools like HyblockCapital and CoinGlass to track current and historical liquidation levels. These platforms visualize heat zones where forced liquidation chains are most likely to begin.

建議商人使用諸如HyblockCapital和Coinglass之類的工具來跟踪當前和歷史清算水平。這些平台可視化熱區，其中強迫清算鏈最有可能開始。