比特币（BTC）市场经历了两个主要清算，但分析师说已经出现了一种独特的模式

比特币市场最近经历了两项重大清算活动，导致了一系列从过度验证的商人出售的强迫销售，但分析师说已经出现了一种独特的模式。

Bitcoin markets recently experienced two major liquidation events that caused a cascade of forced selling from over-leveraged traders, but analysts say a distinct pattern has emerged.

比特币市场最近经历了两项重大清算活动，导致了一系列的强迫销售，但分析师说已经出现了一种独特的模式。

“Overleveraged short-term traders were flushed out, long-term holders have been quietly capitalizing on the reset,” CryptoQuant analyst Amr Taha said on May 26.

CryptoQuant分析师Amr Taha在5月26日说：“短期交易者被冲出了，长期持有人一直在重置上悄悄地利用。”

They noted the first flush occurred when Bitcoin (BTC) fell below $111,000, and over $97 million in long positions were liquidated. As its price broke $109,000, another $88 million in longs were wiped out in the second wave.

他们指出，当比特币（BTC）下跌低于111,000美元时，第一次冲洗发生，而长位置则超过9700万美元。随着其价格损失109,000美元，第二波中又淘汰了另外8800万美元的渴望。

However, as short-term traders faced margin calls and forced selling, long-term holders (LTH) responded very differently and increased their accumulation.

但是，由于短期交易者面临保证金电话和强迫销售，长期持有人（LTH）的反应却大不相同，并增加了积累。

This caused the long-term holder realized capitalization to surge past $28 billion, a level not seen since April. Realized cap is a measure of the value of each Bitcoin based on the last time it was moved, rather than the current market price.

这导致长期持有人意识到资本化超过280亿美元，这是自4月以来未见的水平。实现的CAP是根据上次移动而不是当前市场价格的每个比特币的价值的度量。

Long-term investors are using this period of forced selling to increase their exposure and accumulate more Bitcoin for the long run, Amr Taha noted. “This strategic accumulation during moments of market stress reflects the deep conviction of LTHs.”

阿姆·塔哈（Amr Taha）指出，长期投资者正在使用这一时期的强迫销售时期来增加其曝光率，并从长远来看积累更多的比特币。 “在市场压力时刻，这种战略积累反映了对LTH的深刻信念。”

“Rather than being shaken out by short-term volatility, they see these liquidation-driven dips as prime opportunities to strengthen their positions, reinforcing the foundation for future price appreciation.”

“他们没有被短期波动率震撼，而是将这些以清算驱动的倾角视为加强其立场的主要机会，从而增强了未来价格升值的基础。”

Related: Bitcoin's new highs may have been driven by Japan bond market crisis

相关：比特币的新高点可能是由日本债券市场危机驱动的

Meanwhile, CryptoQuant analyst Ibrahim Cosar identified a double bottom chart formation, a reversal signal that indicates “bearish pressure is weakening and buyers are beginning to regain control.”

同时，加密分析师易卜拉欣·卡萨尔（Ibrahim Cosar）确定了双底图的形成，这是一个逆转信号，表明“看跌压力正在减弱，买家开始恢复控制。”

“If this zone holds as support, levels above $112,000 are well within reach,” he predicted.

他预测：“如果该区域作为支持，那么高于112,000美元的水平就可以触及。”

Bitcoin dips below $109,000

比特币下降到$ 109,000以下

Bitcoin is trading at just under $108,700 on Coinbase at the time of writing, posting a slight rebound from a wick down to $107,550, according to TradingView.

根据TradingView的数据，比特币在Coinbase上的交易价格不到108,700美元，在撰写本文时，比特币的交易量从一个芯片下降到107,550美元。

However, it has retreated from a high on Monday of $110,000, having hit resistance twice at that level.

但是，它在周一的110,000美元中从高处退缩，在该水平上两次击中了电阻。