比特幣 (BTC) 和以太坊 (ETH) 九月底儘管有所下跌，但仍波動較大

比特幣 [BTC] 和以太幣 [ETH] 9 月底波動較大，兩種資產均下跌。空頭交易者主導市場

Both Bitcoin [BTC] and Ethereum [ETH] ended September on a mixed note, with both assets experiencing declines. Short-position traders seemed to dominate the market, driving long liquidation volumes higher.

比特幣 [BTC] 和以太幣 [ETH] 九月底的表現好壞參半，兩種資產都出現下跌。空頭交易者似乎主導了市場，推動多頭清算量增加。

However, the absence of a significant sell-off seemed to indicate a positive sign for the market.

然而，沒有出現大幅拋售似乎顯示市場出現了正面跡象。

Bitcoin and Ethereum open interest drops

比特幣和以太坊未平倉合約下降

As highlighted by CryptoQuant, both Bitcoin and Ethereum’s open interest (OI) saw noticeable declines during the last trading session. Bitcoin’s open interest dropped from $18.6 billion to $18.1 billion, indicating that traders were closing futures positions.

正如 CryptoQuant 所強調的那樣，比特幣和以太坊的未平倉合約 (OI) 在上一個交易日均明顯下降。比特幣的未平倉合約從 186 億美元下降至 181 億美元，顯示交易者正在平倉期貨部位。

This decrease in OI, as a rule, signals lower liquidity, volatility, and interest in derivatives trading, which can potentially lead to a long/short squeeze.

一般來說，持倉量的下降表示流動性、波動性和衍生性商品交易興趣下降，這可能會導致多頭/空頭擠壓。

Source: CryptoQuant

來源：CryptoQuant

Similarly, Ethereum’s open interest also saw a slight decline, albeit less significant than Bitcoin’s. At the time of writing, BTC’s open interest has bounced back to $18.3 billion, and ETH’s OI has risen to $9.4 billion, reflecting renewed market activity.

同樣，以太坊的未平倉合約也略有下降，儘管幅度不如比特幣。截至本文撰寫時，BTC 的未平倉合約已反彈至 183 億美元，ETH 的未平倉合約已升至 94 億美元，反映出市場活動重新活躍。

Bitcoin and Ethereum prices follow OI trends

比特幣和以太坊價格跟隨 OI 趨勢

The drop in open interest had a direct impact on both Bitcoin and Ethereum prices. Bitcoin experienced a 3.50% decline, falling from $65,600 to $63,301, dipping below its 200-day moving average.

未平倉合約的下降對比特幣和以太坊的價格產生了直接影響。比特幣下跌 3.50%，從 65,600 美元跌至 63,301 美元，跌破 200 日移動均線。

Source: TradingView

來源：TradingView

Similarly, Ethereum dropped by 2.13%, moving from $2,657 to $2,601, staying below its 200-day moving average but still above the 50-day moving average.

同樣，以太幣下跌 2.13%，從 2,657 美元跌至 2,601 美元，低於 200 日移動均線，但仍高於 50 日移動均線。

Source: TradingView

來源：TradingView

At the time of writing, both assets have shown a slight rebound with Bitcoin trading at $63,789 and showing a 0.7% increase, while Ethereum gained over 1%, trading around $2,639.

截至撰寫本文時，兩種資產均出現小幅反彈，比特幣交易價格為 63,789 美元，上漲 0.7%，而以太坊上漲超過 1%，交易價格約為 2,639 美元。

Exchange flows remain stable

外匯流量保持穩定

Despite the recent declines, there hasn’t been a major sell-off. Data from CryptoQuant showed that Bitcoin recorded a negative exchange flow, indicating a balanced flow of BTC into and out of exchanges.

儘管最近有所下跌，但並未出現大規模拋售。 CryptoQuant 的數據顯示，比特幣交易流量為負，顯示 BTC 進出交易所的流量平衡。

On the other hand, Ethereum saw a slight increase in exchange inflows, with 14,000 ETH flowing into exchanges during the last trading session.

另一方面，以太坊的交易所流入略有增加，上一交易日有 14,000 ETH 流入交易所。

However, this volume was not enough to trigger a major sell-off. At the time of writing, the flow has turned negative again, with over 23,000 ETH being withdrawn from exchanges, signaling reduced selling pressure.

然而，這項成交量不足以引發大規模拋售。截至撰寫本文時，流量再次轉為負值，超過 23,000 個 ETH 從交易所撤出，顯示拋售壓力減輕。

Read Ethereum (ETH) Price Prediction 2024-25

閱讀以太坊 (ETH) 價格預測 2024-25

Conclusion

結論

While Bitcoin and Ethereum faced notable declines in the final days of September, the lack of a major sell-off and the slight price rebound suggested a relatively stable market.

儘管比特幣和以太坊在 9 月最後幾天面臨顯著下跌，但沒有大規模拋售，且價格略有反彈，顯示市場相對穩定。

Open interest trends and exchange flows indicated that investors were not rushing to exit their positions, showing potential for recovery in the near term.

未平倉合約趨勢和外匯流量表明，投資者並不急於平倉，顯示出短期內復甦的潛力。