比特幣[BTC]收回了100000美元的地區，並攀升至$ 103443

比特幣[BTC]在過去72小時內收回了100,000美元的地區，並攀升至103,443美元。

Bitcoin [BTC] has been showing strength as it trades above the $100,000 mark. However, on-chain and derivatives data suggest that the bulls’ momentum might be slowing down.

比特幣[BTC]的實力超過了100,000美元。但是，鍊和衍生物的數據表明，公牛的動力可能正在減慢。

Bitcoin price remained above the crucial $100,000 psychological level for the third consecutive day on Tuesday, July 11.

7月11日星期二連續第三天，比特幣價格保持在關鍵的100,000美元心理水平之上。

According to Binance’s daily chart, BTC last closed above this level on 3rd February. Naturally, such a breakout would suggest growing momentum.

根據Binance的每日圖表，BTC在2月3日上一次關閉。自然，這樣的突破會暗示增長的勢頭。

However, on-chain and derivatives data tell a different story—one where leverage is drying up, and whale conviction is slipping.

但是，鍊和衍生物的數據講述了一個不同的故事 - 槓桿正在乾燥的地方，鯨魚的信念正在滑倒。

Bitcoin whales’ momentum is weakening

比特幣鯨的動量正在減弱

Bullish sentiment among Bitcoin whales in the derivatives market is weakening.

衍生品市場中比特幣鯨之間的看漲情緒正在減弱。

Historically, when Bitcoin rallies to the $103,000 level, Open Interest usually hovers above $68 billion. However, that’s not the case now.

從歷史上看，當比特幣集會達到103,000美元時，開放利息通常徘徊在680億美元以上。但是，現在事實並非如此。

At press time, Bitcoin’s Open Interest stood at $61.3 billion, suggesting traders were opening fewer positions than before.

發稿時，比特幣的開放興趣為613億美元，表明交易者的開業職位比以前更少。

Image: Alphractal

圖像：字母

The Whale Position Sentiment revealed that whales were currently closing their long positions, signaling a shift in the market.

鯨魚的情緒表明，鯨魚目前正在關閉其長位置，這表明市場發生了變化。

Since whales control significant liquidity, their exit from long positions suggests declining sentiment and the likelihood of a short-term correction for Bitcoin.

由於鯨魚控制著大量的流動性，因此他們從長位置退出表明情緒下降和比特幣短期校正的可能性。

Where is Bitcoin heading?

比特幣標題在哪裡？

To determine where Bitcoin might decline to, AMBCrypto analyzed the Liquidation Heatmap for liquidity clusters.

為了確定比特幣可能拒絕的地方，Ambcrypto分析了流動性簇的清算熱圖。

Liquidity clusters are levels on the chart that typically attract price action, indicated by shaded areas. A liquidity cluster above the current price implies a likely rally to that level; a cluster below the price indicates an approaching drop.

流動性群集是圖表上通常吸引價格動作的水平，這是由陰影區域指示的。高於當前價格的流動性集群可能意味著該水平的集會。低於價格的集群表示接近下降。

First, there’s a key liquidity pocket around $98,500, with over $103 million in leverage stacked. Should selling intensify, price could wick down into that zone.

首先，有一個約98,500美元的關鍵流動性袋，有超過1.03億美元的槓桿量。應該銷售加劇，價格可能會陷入該區域。

The deeper cluster lies between $93,400 and $92,900—housing over $500 million in liquidation leverage. If bearish pressure builds, this zone becomes a magnet.

該較深的集群在93,400至92,900美元之間，其清算槓桿率超過5億美元。如果造成看跌壓力，該區域將成為磁鐵。

Image: CoinGlass

圖像：小店

These remain the key levels to watch in the market, as price could likely decline to these zones.

這些仍然是市場上關注的關鍵水平，因為價格可能會下降到這些區域。

What factors are likely to influence a price drop?

哪些因素可能會影響價格下跌？

Further fueling bearish odds, the Exchange Whale Ratio climbed to 0.4, reflecting increased whale activity on centralized exchanges.

進一步加劇了看跌的賠率，交換鯨的比率升至0.4，反映了集中式交流的鯨魚活動增加。

Image: CryptoQuant

圖像：加密

Whale Inflows of BTC into centralized exchanges provide further proof.

BTC進入集中交流的鯨魚流入提供了進一步的證明。

Three notable moves include a 1,500 BTC transfer (approximately $154 million) into Coinbase, and two 500 BTC transfers—together worth $103 million—into Robinhood.

三個值得注意的舉動包括Coinbase的1,500 BTC轉移（約1.54億美元）和兩次500 BTC轉移（價值1.03億美元）的轉移。

Such movements from private wallets into centralized exchanges typically indicate intentions to sell.

從私人錢包到集中交易的這種運動通常表明出售意圖。

On top of that, the BTC/ETH chart continues to bleed, suggesting that capital is rotating out of Bitcoin and into other assets, including Ethereum [ETH].

最重要的是，BTC/ETH圖表繼續流血，這表明資本正在從比特幣中旋轉，並轉向其他資產，包括以太坊[ETH]。

Image: TradingView

圖像：TradingView

This chart has trended downward since the start of the year, and the recent rally confirms that more sellers than buyers are currently trading Bitcoin.

自今年年初以來，該圖表一直向下趨勢，最近的集會證實，賣家比買家目前正在交易比特幣。

In summary, if whales continue selling and liquidity keeps flowing out of Bitcoin, the asset is likely to drop notably.

總而言之，如果鯨魚繼續銷售，並且流動性不斷從比特幣中流出，那麼資產可能會大大減少。