隨著空頭受到擠壓，比特幣 (BTC) 價格可能會升至 100,000 美元

現貨累積交易量增量 (CVD) 是首先要注意的。在現貨市場上，此指標顯示淨買入或淨賣出總額。

Bitcoin bears might be in trouble, as open interest on the shorts' side is slowly catching up to spot buying volume. This divergence has often preceded short squeezes, which in the case of Bitcoin will likely result in a breakout and a move toward $100,000.

比特幣空頭可能會遇到麻煩，因為空頭的未平倉合約正在慢慢趕上現貨購買量。這種背離通常發生在軋空之前，就比特幣而言，軋空可能會導致突破併升至 100,000 美元。

The first thing to note is the Spot Cumulative Volume Delta (CVD). This metric shows the net buying or selling on the spot market. In this case, there is a rising spot buy delta, and the Spot CVD is leading with the price. This indicates that the recent rally in Bitcoin price is being driven by the spot market. In other words, as more people are buying Bitcoin on the spot market, the price is going up.

首先要注意的是現貨累積交易量增量（CVD）。此指標顯示現貨市場上的淨買進或淨賣出。在這種情況下，現貨買入增量不斷上升，現貨 CVD 隨價格領先。這顯示近期比特幣價格的上漲是由現貨市場推動的。換句話說，隨著越來越多的人在現貨市場上購買比特幣，價格就會上漲。

Perpetual contracts, however, tell a slightly different story. The Perp CVD is dropping more than the price, indicating bearish sentiment among futures traders. Moreover, there is an increase in perp selling. This suggests that while there is buying pressure in the spot market, the futures market is more likely to be selling.

然而，永續合約的情況略有不同。 Perp CVD 的跌幅超過了價格，顯示期貨交易商的看跌情緒。此外，永續銷售也有所增加。這表明，雖然現貨市場存在買盤壓力，但期貨市場更有可能出現拋售。

The recent surge in Bitcoin price appears to be primarily driven by buying on the spot market. A rising Spot CVD together with the price suggests a strong buying interest.

最近比特幣價格的飆升似乎主要是由現貨市場購買所推動的。現貨 CVD 與價格一起上漲表明購買興趣強勁。

Despite the futures market (perps) showing bearish sentiment, with a decreasing Perp CVD and rising selling pressure.

儘管期貨市場 (perps) 表現出看跌情緒，Perp CVD 下降，拋售壓力上升。

The increasing spot buy delta may indicate buying momentum. If you're a spot trader looking to buy or hold Bitcoin, this could be a positive sign.

現貨購買增量的增加可能表示購買動能。如果您是想要購買或持有比特幣的現貨交易者，這可能是個正面的訊號。

Futures market: The decreasing Perp CVD indicates bearish sentiment, which could be a warning for those trading futures. The futures market is predominantly selling, which may lead to price adjustments or higher volatility.

期貨市場：Perp CVD的下降表明看跌情緒，這可能是對期貨交易者的警告。期貨市場以拋售為主，可能會導致價格調整或波動性加大。