儘管出現大量清算，比特幣持倉量仍飆升，價格達到 7 萬美元

比特幣 (BTC) 的未平倉合約隨著價格達到 70,000 美元而激增，顯示市場槓桿增加。儘管近期清算超過 1.9 億美元，但交易員仍保持看漲情緒，多頭部位比例升至 51%。然而，MVRV 比率升高和多空差異擴大等因素表明，比特幣的持續成長存在潛在障礙。

Bitcoin Open Interest Soars as Price Approaches $70,000, Despite Wave of Liquidations

儘管遭遇清算浪潮，比特幣持倉量仍飆升，價格逼近 7 萬美元

Amidst Bitcoin's (BTC) sustained surge, open interest in the digital currency has witnessed a surge, indicating a heightened level of leverage within the market. The influx of over $1 billion in open interest within the past 24 hours underscores the growing appetite among traders to speculate on BTC's future trajectory.

在比特幣（BTC）持續飆升的情況下，數位貨幣的未平倉合約也出現激增，顯示市場槓桿水平有所提高。過去 24 小時內未平倉合約湧入超過 10 億美元，凸顯了交易者對 BTC 未來走勢的猜測興趣日益濃厚。

This development, however, carries the potential to amplify price volatility in either direction. As open interest increases, the market becomes more sensitive to shifts in sentiment, leading to more pronounced price swings.

然而，這種發展有可能放大任一方向的價格波動。隨著未平倉合約的增加，市場對情緒的變化變得更加敏感，導致價格波動更加明顯。

Intriguingly, the surge in open interest comes against a backdrop of substantial liquidations in the Bitcoin market. Data from Coinglass reveals that during the same 24-hour period, a staggering 67,109 traders faced liquidations, resulting in a total loss of $190.70 million.

有趣的是，未平倉合約的激增是在比特幣市場出現大量清算的背景下發生的。 Coinglass 的數據顯示，在同一 24 小時內，有 67,109 名交易者面臨清算，總損失高達 1.907 億美元。

The largest single liquidation, estimated at $1.94 million, occurred on the BTCUSD pair on the Bybit exchange. Moreover, Coinglass identified a significant level of leverage, approximately $1.18 billion, positioned above the $73,000 threshold, indicating a potential area of risk.

最大單筆清算額估計為 194 萬美元，發生在 Bybit 交易所的 BTCUSD 貨幣對上。此外，Coinglass 發現槓桿水平很高，約為 11.8 億美元，位於 73,000 美元的門檻之上，表明存在潛在風險領域。

Despite the wave of liquidations, market sentiment towards BTC remains predominantly bullish. As of writing, the percentage of long positions has increased from 48% to 51%, signaling traders' optimism regarding the digital currency's upward momentum.

儘管出現了清算浪潮，但市場對 BTC 的情緒仍然主要看漲。截至撰寫本文時，多頭部位比例已從 48% 增加至 51%，顯示交易者對數位貨幣的上漲勢頭持樂觀態度。

However, certain metrics suggest potential headwinds for BTC's continued ascent. The MVRV ratio, an indicator of the profitability of BTC addresses, has surged, suggesting that a significant number of holders are in profit at current prices. This may lead to increased selling pressure as traders seek to realize gains, potentially leading to price corrections.

然而，某些指標顯示比特幣的持續上漲可能面臨阻力。 MVRV 比率（BTC 地址獲利能力的指標）大幅上升，顯示大量持有者以當前價格獲利。由於交易者尋求實現收益，這可能會導致拋售壓力增加，從而可能導致價格調整。

Furthermore, the Long/Short difference for BTC has widened, indicating that long-term holders make up a large proportion of the addresses holding the digital currency. These holders are less likely to sell their holdings and tend to be less responsive to short-term market fluctuations.

此外，BTC 的多空差額擴大，顯示長期持有者在持有該數位貨幣的地址中佔很大比例。這些持有者出售其持有的股份的可能性較小，對短期市場波動的反應往往較弱。

The health of the broader Bitcoin ecosystem will also play a crucial role in determining the trajectory of its price. AMBCrypto's analysis reveals a decline in the number of active addresses on the Bitcoin network, potentially signaling a waning interest in the cryptocurrency's ecosystem. A sustained lack of participation could have negative implications for BTC's long-term price performance.

更廣泛的比特幣生態系統的健康狀況也將在決定其價格軌跡方面發揮至關重要的作用。 AMBCrypto 的分析顯示，比特幣網路上的活躍位址數量有所下降，這可能表明人們對加密貨幣生態系統的興趣正在減弱。持續缺乏參與可能會對比特幣的長期價格表現產生負面影響。

In conclusion, the recent surge in Bitcoin's price has been accompanied by a sharp increase in open interest, indicating a rise in leverage within the market. While this development has the potential to amplify price volatility, it comes against a backdrop of substantial liquidations. Despite the bullish sentiment among traders, metrics such as the MVRV ratio and the Long/Short difference hint at potential barriers to BTC's sustained upward trajectory. The health of the broader Bitcoin ecosystem will also be a key factor in determining the digital currency's future price performance.

綜上所述，近期比特幣價格的飆升伴隨著未平倉合約的急劇增加，顯示市場槓桿率上升。儘管這一發展有可能放大價格波動，但它是在大量清算的背景下發生的。儘管交易者情緒看漲，但 MVRV 比率和多空差異等指標暗示著 BTC 持續上漲軌蹟的潛在障礙。更廣泛的比特幣生態系統的健康狀況也將是決定數位貨幣未來價格表現的關鍵因素。