比特币[BTC]和以太坊[ETH]流动看跌赌注，点燃了近1B $ 1B的清算

比特币[BTC]和以太坊[ETH]蒸汽滚动了看跌赌注，在5月8日点燃了近10亿美元的清算，残酷的80％来自短职位。

Bitcoin [BTC] and Ethereum [ETH] powered through bearish bets on the 8th of May, sparking nearly $1 billion in liquidations.

比特币[BTC]和以太坊[ETH]在5月8日通过看跌赌注供电，引发了近10亿美元的清算。

The majority of the liquidations, an astounding 80%, were short positions, setting the stage for a textbook short squeeze.

大多数清算率令人震惊的80％是短职位，为教科书短暂挤压奠定了基础。

While the image of the bear market wreckage is truly brutal, it might be too early to say game over for the bears just yet.

尽管熊市残骸的形象确实是残酷的，但现在说熊队的比赛还为时过早。

Relative Strength Index (RSI) on both major cryptocurrencies went deep into overbought territory, signaling that momentum could be slowing down.

两种主要加密货币上的相对强度指数（RSI）深入到了超买的领土，这表明势头可能会放慢速度。

Moreover, with both BTC and ETH trading above key resistance-turned-support levels, the market is at a critical juncture.

此外，由于BTC和ETH交易都高于关键阻力转变的支持水平，因此市场处于关键时刻。

According to fresh data from Coinglass, 139,241 traders were liquidated in the past 24 hours, leading to overall liquidations of $328 million.

根据Coinglass的新数据，在过去的24小时内清算了139,241家交易员，总体清算为3.28亿美元。

Despite the bullish momentum, it was the longs who took a bigger hit, with $170 million in longs liquidated.

尽管有看涨的动力，但渴望的人受到了更大的打击，伦敦的1.7亿美元被清算了。

The spread is razor-thin, and technicals are flashing red

传播是剃须刀薄的，技术正在闪烁红色

On-Balance Volume (OBV) began to stall, another indication that the retail-led rally might be running out of steam.

平衡量开始停滞不前，这表明由零售业领导的集会可能耗尽蒸汽。

At the same time, Open Interest (OI) increased by 1.25% to reach $137.44 billion, indicating that leveraged exposure is returning.

同时，开放利息（OI）增加了1.25％，达到1374.4亿美元，这表明杠杆风险正在返回。

However, with bid walls thinning, this spike in OI could also be setting the stage for a liquidation cascade should support falter.

但是，随着投标墙的变化，OI中的这种尖峰也可能为清算级联奠定基础，应支持步履蹒跚。

ETH saw $61.25 million in longs closed in the past 24 hours, and BTC had over $600k in longs wiped out in the 4-hour timeframe.

ETH在过去的24小时内持续了6125万美元的隆起，而BTC在4小时的时间范围内耗尽了60万美元的朗格。

The $170 million long squeeze might have just been the opening act, and if the market stumbles, things could get messy quickly.

1.7亿美元的紧缩可能只是开幕式，如果市场跌跌撞撞，情况可能会很快变得凌乱。

BTC and ETH: Steering the ship or sinking it?

BTC和ETH：转向船或下沉？

As BTC and ETH trade close to local highs, the next move depends on how smart money deploys.

随着BTC和ETH贸易接近本地高点，下一步取决于智能资金的部署方式。

Whale activity at these levels usually signals one of two scenarios: A distribution trap or a controlled consolidation above supply.

在这些级别上的鲸鱼活动通常是两个方案之一：分配陷阱或供应上方的受控巩固。

Either way, the order books will be tested, and it’s the whales who will decide whether this is re-accumulation or exit liquidity.

无论哪种方式，订单簿都将经过测试，而鲸鱼将决定这是重新蓄能还是退出流动性。

With momentum indicators signaling exhaustion, opportunistic shorts are stepping in.

有动量指标信号耗尽，机会短裤正在介入。

Recently, Lookonchain data spotted a whale moving $13 million USDC to Hyperliquid, engaging in short positions on both BTC and ETH—a tactical bet on a near-term price reversal.

最近，Lookonchain数据发现了一条鲸鱼的1300万美元转移到了超流动液，在BTC和ETH上都占据了短暂的位置，这是一种战术上的赌注，以近期的价格逆转。

Unless smart money intervenes to continue the rally and trap bears again, the thin bid-side and exhausted upside momentum could shift the narrative.

除非聪明的钱介入继续拉力赛和陷阱再次承受，否则稀薄的出价侧面疲惫的上行势头可能会改变叙述。

If the bulls falter at this point, it could lead to a cascading unwind, ultimately leading to a payback for the $328 million in short liquidations seen earlier this week.

如果公牛在这一点上步履蹒跚，这可能会导致级联的放松身心，最终导致在本周早些时候看到的3.28亿美元的短暂清算中的回报。