比特币（BTC）的价格行动表明，美国贸易商的机构贸易商带领了这一新历史最高的高度

比特币（BTC）周日晚些时候享受每周的波动性，上升到约107,000美元，然后果断地降至102,000美元。

Bitcoin (BTC) enjoyed its weekly dose of volatility late Sunday, rising to around $107,000, before decisively plunging back to $102,000.

比特币（BTC）周日晚些时候享受每周的波动性，上升到约107,000美元，然后果断地降至102,000美元。

The crypto market typically experiences a bump in volatility at this time on Sunday as it coincides with the opening of the CME futures market, which takes a few moments to recalibrate to the lower liquidity 24/7 crypto markets.

加密货币市场通常在周日的这个时候发生波动性，因为它与CME期货市场的开放相吻合，这需要花费一些时间才能重新校准低于流动性24/7加密市场。

This weekend was slightly different. Whilst on the surface the price action will go down as a bearish rejection from a key level of resistance, which bitcoin has now failed to break at three attempts. BTC actually spiked first on the CME, indicating that the price action was led by institutional U.S. traders as opposed to retail crypto traders.

这个周末略有不同。尽管在表面上，价格动作将是从关键阻力中的看跌拒绝，而比特币现在未能在三次尝试中破裂。 BTC实际上首先在CME上飙升，表明价格行动是由美国贸易商而非零售加密货币交易者领导的。

Over the past few months the CME has often opened lower than it closed on the Friday, creating a “gap” on the chart, which did not occur this week. As price whiplashed around this $5,000 range, the move wiped out liquidity on both sides, creating a rather crucial inflection point.

在过去的几个月中，CME的开放通常比周五关闭的要低，在图表上造成了“差距”，这本周没有发生。随着价格在这个5,000美元之间的范围左右，这一举动在双方都消除了流动性，从而创造了一个相当关键的拐点。

Now, market depth all the way up to $110,000 is minimal compared to limit orders lining the book down to $100,000. This means that any upside thrust will likely take this level out and see bitcoin trade at a new record high.

现在，市场深度一直高达110,000美元，而限制了这本书的订单至100,000美元。这意味着任何上升推力都可能会将这一水平提高，并以新的纪录高度查看比特币交易。

However, it’s worth considering the other side of the coin. It is also conceivable that the Sunday evening price action was a typical stop-loss hunt, which involves traders targeting a zone where those in short positions would want to exit, thus creating an impulse in buy pressure as short traders scurry to buy back their position.

但是，值得考虑硬币的另一侧。还可以想象的是，周日晚上的价格行动是典型的停止损失狩猎，涉及针对一个较短位置的区域的交易者，从而在买入压力时产生了冲动，因为短交易者急于回购自己的位置。

This strategy often takes place alongside entry into a larger short position. For example, if a trader wants to short BTC with a risk tolerance of 4%, it would be advantageous to open that position at $107,000 with a stop loss at $111,280 as opposed at $105,000 with a stop at $109,200. Astute traders can secure that entry by assessing levels of liquidity and squeezing short positions into closing, which temporarily lifts price to an ideal entry.

这种策略通常是在进入更大的短位置的同时进行的。例如，如果交易者想以4％的风险承受能力缩短BTC，则以107,000美元的价格开放该职位，停止损失为111,280美元，而售价为105,000美元，而停止的价格为109,200美元。敏锐的交易者可以通过评估流动性水平并将短期职位挤进结局来确保该条目，从而暂时将价格提升为理想的入境。

Either way, with liquidity now relatively low around record highs, bitcoin is one news catalyst away from that awaited upside thrust, and these potentially fresh short positions at $107,000 could provide the ammunition to that eventual break out.

无论哪种方式，由于现在的流动性在创纪录的高点附近相对较低，比特币是一个新闻催化剂，远离等待的上升推力，这些潜在的新鲜职位为107,000美元，可以为这种最终爆发提供弹药。