随着BTC价格恢复超过87,500美元，比特币开放利息上涨了20亿美元

数据显示，由于加密货币的价格已恢复超过87,500美元，比特币开放兴趣已急剧上升。

Data from CryptoQuant shows that Bitcoin Open Interest has increased sharply in the last 24 hours as the cryptocurrency’s price recovers above $87,500.

来自加密货币的数据表明，由于加密货币的价格在87,500美元以上恢复，比特币开放兴趣在过去24小时内急剧增加。

Bitcoin Open Interest Is Up More Than $2 Billion

比特币开放兴趣增长超过20亿美元

As pointed out by CryptoQuant community analyst Maartunn in a new post on X, the Open Interest has shot up for Bitcoin during the past day. The “Open Interest” here refers to an indicator that measures the total amount of BTC-related positions that are currently open on all derivatives exchanges.

正如隐秘社区分析师Maartunn在X上的一篇新帖子中指出的那样，过去一天的开放兴趣已引起了比特币的兴趣。这里的“开放利息”是指衡量当前在所有衍生工具交换上开放的与BTC相关头寸的总数的指标。

When the value of this metric rises, it means that the investors are opening up fresh positions on the futures market. Generally, the total leverage in the sector goes up when new positions appear, so this kind of trend can induce volatility in the asset’s price.

当该指标的价值上升时，这意味着投资者正在期货市场开设新的职位。通常，当出现新职位时，该行业的总杠杆率会上升，因此这种趋势可以引起资产价格的波动。

On the other hand, the indicator going down implies that the holders are either closing up positions of their own volition or being forcibly liquidated by their platform. Whatever the case may be, such a leverage flush can provide more stability to the cryptocurrency.

另一方面，下降的指标意味着持有人要么关闭自己的意志职位，要么被其平台强行清算。无论如何，这种杠杆冲洗可以为加密货币提供更大的稳定性。

Now, here is the chart shared by the analyst that shows how the Bitcoin Open Interest has changed over the last 24 hours or so:

现在，这是分析师共享的图表，该图表显示了比特币开放兴趣在过去24小时左右如何变化：

As displayed in the above graph, the Bitcoin Open Interest has witnessed a steep rise in this window. The increase in the indicator has come as the coin’s price has recovered to the $87,500 level.

如上图所示，比特币开放兴趣在此窗口中见证了急剧上升。由于硬币的价格已恢复到87,500美元，该指标的增加已经达到。

This isn’t anything too surprising, as exciting price action in the cryptocurrency usually invites speculation. What may be of concern, however, is the scale of the rise that the metric has observed.

这并不令人惊讶，因为加密货币中令人兴奋的价格动作通常会引起人们的猜测。但是，可能令人担忧的是指标观察到的升高规模。

As Maartunn has highlighted in the chart, Open Interest has gone up by more than $2 billion during the past day, which translates to a percentage increase of over 8.3%.

正如Maartunn在图表中强调的那样，在过去的一天中，开放兴趣增长了超过20亿美元，这意味着增长百分比超过8.3％。

This massive increase is despite the fact that Bitcoin has already seen liquidations amounting to around $76 million in this period, as data from CoinGlass shows.

如Coinglass的数据显示，尽管比特币已经看到比特币已经看到了大约7600万美元的清算，但这种大规模增长。

Leverage-driven rallies like this latest one tend not to last because the underlying conditions present during them are generally unstable. The reason behind this instability lies in the fact that leveraged positions can easily end up being liquidated.

杠杆驱动的集会像这样的最新趋势往往不会持续，因为它们中存在的基本条件通常不稳定。这种不稳定背后的原因在于，杠杆位置很容易被清算。

The positions that come during the hype of a rally are often overleveraged, and even if they aren't, their liquidation point is usually at an elevated level within the rally. This means that they can be quite vulnerable to any pullbacks that occur.

集会期间出现的位置通常会被过度驾驶，即使不是，他们的清算点通常在拉力赛内的高度。这意味着它们可能很容易受到任何发生的回调。

When these positions find liquidation, they feed back into the price pullback that caused them, thus elongating its length. It’s possible that something similar could end up taking place with this latest Bitcoin rally as well, but only time will tell.

当这些位置找到清算时，它们会反馈到导致它们的价格下降，从而拉长了其长度。最新的比特币集会也可能会发生类似的事情，但只有时间才能说明。