過去一周的比特幣（BTC）價格行動在很大程度上是贖回的

比特幣在過去一周中的價格動作在很大程度上是贖回的，因為總理加密貨幣將其位置在心理上100,000美元以上

The price action of Bitcoin (BTC) over the past week was largely redemptive, as the premier cryptocurrency reclaimed its place above the psychological $100,000 mark. This recent burst of bullish momentum mirrors a healthily growing sentiment amongst investors.

在過去一周中，比特幣（BTC）的價格動作在很大程度上是贖回的，因為總理加密貨幣將其位置在心理$ 100,000的高度之上。最近的看漲勢頭反映了投資者中一種健康增長的情緒。

On Friday, May 15, the Bitcoin price reached as high as $103,800 — its highest level since January. However, the latest on-chain data shows the absence of investor activity in the derivatives market, typically seen when BTC’s value hits this level.

5月15日，星期五，比特幣價格高達103,800美元，這是自1月以來的最高水平。但是，最新的鍊鍊數據表明，衍生品市場沒有投資者活動，通常在BTC的價值達到該水平時會出現。

BTC Price Rally About To Hit A Roadblock?

BTC Price Rally即將撞到障礙？

In a recent post on the social media platform X, crypto analytics platform Alphractal shared that the open interest (OI) has not quite moved in tandem with the Bitcoin price over the past few days. The open interest metric measures the total amount of money flowing into BTC derivatives at any given time.

在社交媒體平台X上的最新帖子中，加密分析平台Alphractal分享說，開放興趣（OI）在過去幾天中並沒有完全與比特幣價格同步。開放利息指標衡量在任何給定時間流入BTC衍生品的總金額。

Rising open interest is often considered a bullish signal for the premier cryptocurrency, especially as it suggests fresh capital influx into the market. Ultimately, this trend suggests improving investor sentiment and surging trader confidence.

開放興趣的上升通常被認為是主要的加密貨幣的看漲信號，尤其是因為它暗示了新的資本湧入市場。最終，這一趨勢表明，提高了投資者的情緒並激發了交易者的信心。

According to data from Alphractal, the current aggregated OI for Bitcoin (valued at around $103,000) stands at an estimated $61.3 billion. The last time BTC was at this monumental price, the open interest was more than $68 billion.

根據Alphractal的數據，當前的比特幣的總OI（價值約為103,000美元）為613億美元。 BTC上次以巨大的價格出售，公開利息超過680億美元。

With the current Bitcoin open interest less than the OI the last time price was at $103,000, Alphractal noted that this trend suggests lower leverage and reduced activity in crypto’s largest market. The analytics firm further explained that this phenomenon could be due to either recent waves of liquidations or position closures.

由於目前的比特幣開放興趣低於OI的最後一次價格為103,000美元，Alphractal指出，這種趨勢表明，加密貨幣最大的市場的槓桿作用和活動降低。這家分析公司進一步解釋說，這種現象可能是由於最近的清算浪或位置封閉。

In the post on X, Alphractal revealed other reasons why the flagship cryptocurrency’s price might be at risk of a short-term correctional movement. The relevant on-chain metric backing this bearish projection is the Whale Position Sentiment.

在X上的帖子中，Alphractal揭示了旗艦加密貨幣價格可能有短期懲教的風險的其他原因。相關的鍊式指標支持這種看跌的投影是鯨魚位置情緒。

The Whale Position Sentiment metric tracks both the directional bias and trading behavior of large holders. It typically reflects the net positioning of whales, their market sentiment, and also changes in open positions.

鯨魚位置情緒指標跟踪大型持有人的方向偏見和交易行為。它通常反映出鯨魚的淨定位，其市場情緒以及開放位置的變化。

According to the latest observations by Alphractal, the Total Futures Market open interest is lower than the last time the Bitcoin price crossed the $103,000 level.

根據Alphractal的最新觀察結果，總的期貨市場開放興趣低於上次比特幣價格超過103,000美元的水平。

Alphractal concluded that the drop in the Whale Position Sentiment reflects large investors’ interest in closing long positions, thereby shifting market sentiment. If the metric continues to drop, the on-chain analytics firm inferred that it could lead to price stagnation, or worse, a correction.

Alphractal得出的結論是，鯨魚位置情緒的下降反映了大型投資者對結束長期職位的興趣，從而改變了市場情緒。如果指標繼續下降，則鏈上分析公司推斷，它可能導致價格停滯，或更糟糕的是更正。

As of this writing, the price of BTC stands at $103,035, reflecting no significant movement in the 24 hours. While the recent bullish momentum suggests that the premier cryptocurrency could hit a new all-time high in the coming days, investors might want to exercise caution, considering recent on-chain observations

截至撰寫本文時，BTC的價格為103,035美元，反映出24小時內沒有重大移動。雖然最近的看漲勢頭表明，考慮到最近的鏈上觀察結果，投資者可能會謹慎行事，但投資者可能會謹慎行事，但總理的加密貨幣可能會達到新的歷史最高水平