專業交易員表現出韌性，比特幣經歷了風暴

比特幣跌至 56,000 美元，幾天之內就損失了近 5% 的價值。然而，專業交易員表現出了一定的韌性。

Bitcoin fell to $56,000 on Monday, losing nearly 5% of its value over the past few days. However, professional traders are showing some resilience, as evidenced by moderate liquidations and market indicators that suggest an unexpected stability—a stark contrast to previous phases of volatility.

比特幣週一跌至 56,000 美元，在過去幾天裡損失了近 5% 的價值。然而，專業交易員正表現出一定的韌性，適度的清算和市場指標顯示出乎意料的穩定，這與先前的波動階段形成鮮明對比。

Bitcoin’s التجار تحملوا العاصفةrollercoaster ride continues as the world’s leading cryptocurrency dropped to $55,860, having reached $59,090 earlier in the month. This跌幅prompted the liquidation of long positions on the futures market. Available data shows that nearly $58 million was liquidated. This relatively modest amount indicates that long-term investors were not caught off guard by this decline, which is why they don’t seem to have used excessive leverage. In fact, the premium on Bitcoin futures contracts remains at 6% despite this situation. Such a level is considered neutral, as it falls between 5% and 10%.

比特幣的價格像過山車一樣繼續，世界領先的加密貨幣在本月初達到 59,090 美元，跌至 55,860 美元。此次跌幅促使期貨市場多頭部位被清算。現有數據顯示，近 5,800 萬美元被清算。這一相對適中的金額表明，長期投資者並未因此次下跌而措手不及，這就是為什麼他們似乎沒有使用過多的槓桿。事實上，儘管如此，比特幣期貨合約的溢價仍維持在 6%。這樣的水平被認為是中性的，因為它在 5% 到 10% 之間。

Moreover, Bitcoin options, another key market indicator, also reveal this lack of widespread pessimism. The delta skew, which measures the difference between call and put option prices, has remained stable around 3% in recent days, well below the 7% threshold that would indicate fear of a more significant correction. In short, even if Bitcoin is down, professional traders are not anticipating a further drastic drop in the immediate future.

此外，另一個關鍵市場指標比特幣選擇權也揭示了這種普遍悲觀情緒的缺乏。衡量看漲期權和看跌期權價格之間差異的 Delta 偏度最近幾天一直穩定在 3% 左右，遠低於 7% 的閾值，該閾值表明人們擔心會出現更大幅度的調整。簡而言之，即使比特幣下跌，專業交易者也預計不會在不久的將來進一步大幅下跌。

The recent employment figures released in the United States, notably the ADP report, showed the creation of 99,000 jobs in August, which fell short of expectations. This data impacted Bitcoin’s momentum, as it fueled concerns about the Federal Reserve’s ability to avoid a recession and control inflation, although they are not sufficient on their own to trigger a massive wave of Bitcoin sales.

美國近期公佈的就業數據，尤其是ADP報告顯示，8月新增就業人數9.9萬個，低於預期。這項數據影響了比特幣的勢頭，因為它加劇了人們對聯準會避免衰退和控制通膨能力的擔憂，儘管它們本身不足以引發大規模的比特幣銷售浪潮。

Monetary policy and tensions around the upcoming US presidency add a layer of uncertainty that could influence Bitcoin. If the history of halving cycles repeats itself, Bitcoin could still see a recovery in the coming months. If this trend continues, a rebound could materialize by the end of the year.

貨幣政策和即將上任的美國總統的緊張局勢增加了一層可能影響比特幣的不確定性。如果減半週期的歷史重演，比特幣在未來幾個月仍可能出現復甦。如果這種趨勢持續下去，年底可能會出現反彈。

Even if Bitcoin’s decline fuels speculation about the end of a bullish cycle, technical indicators and macroeconomic data still do not offer clear signals of a widespread bearish trend.

即使比特幣的下跌引發了有關看漲週期結束的猜測，但技術指標和宏觀經濟數據仍然沒有提供普遍看跌趨勢的明確訊號。

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A graduate of Sciences Po Toulouse and holder of a blockchain consultant certification from Alyra, I joined the Cointribune adventure in 2019. Convinced of blockchain’s potential to transform numerous sectors of the economy, I am committed to raising awareness and informing the general public about this ever-evolving ecosystem. My goal is to enable everyone to better understand blockchain and seize the opportunities it offers. I strive each day to provide an objective analysis of the news, to decipher market trends, to relay the latest technological innovations, and to put the economic and societal challenges of this unfolding revolution into perspective.

我畢業於圖盧茲政治學院，並持有Alyra 的區塊鏈顧問認證，於2019 年加入了Cointribune 冒險之旅。這一點-不斷發展的生態系統。我的目標是讓每個人都能更了解區塊鏈並抓住它所提供的機會。我每天都努力對新聞進行客觀分析，解讀市場趨勢，傳播最新的技術創新，並正確看待這場正在展開的革命所面臨的經濟和社會挑戰。