比特幣（BTC）市場經歷了兩個主要清算，但分析師說已經出現了一種獨特的模式

比特幣市場最近經歷了兩項重大清算活動，導致了一系列從過度驗證的商人出售的強迫銷售，但分析師說已經出現了一種獨特的模式。

Bitcoin markets recently experienced two major liquidation events that caused a cascade of forced selling from over-leveraged traders, but analysts say a distinct pattern has emerged.

比特幣市場最近經歷了兩項重大清算活動，導致了一系列的強迫銷售，但分析師說已經出現了一種獨特的模式。

“Overleveraged short-term traders were flushed out, long-term holders have been quietly capitalizing on the reset,” CryptoQuant analyst Amr Taha said on May 26.

CryptoQuant分析師Amr Taha在5月26日說：“短期交易者被沖出了，長期持有人一直在重置上悄悄地利用。”

They noted the first flush occurred when Bitcoin (BTC) fell below $111,000, and over $97 million in long positions were liquidated. As its price broke $109,000, another $88 million in longs were wiped out in the second wave.

他們指出，當比特幣（BTC）下跌低於111,000美元時，第一次沖洗髮生，而長位置則超過9700萬美元。隨著其價格損失109,000美元，第二波中又淘汰了另外8800萬美元的渴望。

However, as short-term traders faced margin calls and forced selling, long-term holders (LTH) responded very differently and increased their accumulation.

但是，由於短期交易者面臨保證金電話和強迫銷售，長期持有人（LTH）的反應卻大不相同，並增加了積累。

This caused the long-term holder realized capitalization to surge past $28 billion, a level not seen since April. Realized cap is a measure of the value of each Bitcoin based on the last time it was moved, rather than the current market price.

這導致長期持有人意識到資本化超過280億美元，這是自4月以來未見的水平。實現的CAP是根據上次移動而不是當前市場價格的每個比特幣的價值的度量。

Long-term investors are using this period of forced selling to increase their exposure and accumulate more Bitcoin for the long run, Amr Taha noted. “This strategic accumulation during moments of market stress reflects the deep conviction of LTHs.”

阿姆·塔哈（Amr Taha）指出，長期投資者正在使用這一時期的強迫銷售時期來增加其曝光率，並從長遠來看積累更多的比特幣。 “在市場壓力時刻，這種戰略積累反映了對LTH的深刻信念。”

“Rather than being shaken out by short-term volatility, they see these liquidation-driven dips as prime opportunities to strengthen their positions, reinforcing the foundation for future price appreciation.”

“他們沒有被短期波動率震撼，而是將這些以清算驅動的傾角視為加強其立場的主要機會，從而增強了未來價格升值的基礎。”

Related: Bitcoin's new highs may have been driven by Japan bond market crisis

相關：比特幣的新高點可能是由日本債券市場危機驅動的

Meanwhile, CryptoQuant analyst Ibrahim Cosar identified a double bottom chart formation, a reversal signal that indicates “bearish pressure is weakening and buyers are beginning to regain control.”

同時，加密分析師易卜拉欣·卡薩爾（Ibrahim Cosar）確定了雙底圖的形成，這是一個逆轉信號，表明“看跌壓力正在減弱，買家開始恢復控制。”

“If this zone holds as support, levels above $112,000 are well within reach,” he predicted.

他預測：“如果該區域作為支持，那麼高於112,000美元的水平就可以觸及。”

Bitcoin dips below $109,000

比特幣下降到$ 109,000以下

Bitcoin is trading at just under $108,700 on Coinbase at the time of writing, posting a slight rebound from a wick down to $107,550, according to TradingView.

根據TradingView的數據，比特幣在Coinbase上的交易價格不到108,700美元，在撰寫本文時，比特幣的交易量從一個芯片下降到107,550美元。

However, it has retreated from a high on Monday of $110,000, having hit resistance twice at that level.

但是，它在周一的110,000美元中從高處退縮，在該水平上兩次擊中了電阻。