分析师警告称，比特币价格修正即将减半

尽管减半事件即将到来，但 CryptoQuant 分析师警告称，比特币 (BTC) 仍然容易受到价格大幅调整的影响。由于高持仓量和乐观的市场情绪，对于杠杆交易者来说，市场处于潜在危险区域。大幅调整可能会打破比特币当前的价格结构，导致比特币在触及新高之前进一步下跌。

Bitcoin Correction Risk Looms Ahead of Halving Event, Analyst Warns

分析师警告称，减半事件之前比特币修正风险迫在眉睫

Amidst the impending halving event, Bitcoin (BTC) faces a heightened risk of a significant price correction, according to an analysis by CryptoQuant analyst Gaah.

根据 CryptoQuant 分析师 Gaah 的分析，在即将到来的减半事件中，比特币 (BTC) 面临着价格大幅调整的风险。

Danger Zone for Leveraged Traders

杠杆交易者的危险区

Observing the open interest range for Bitcoin, Gaah notes that it currently hovers in the middle range, indicating a neutral sentiment among investors in terms of new positions. However, the price of BTC remains within the region of the previous top positions established in March.

Gaah 观察比特币的未平仓合约范围，指出目前它徘徊在中间区间，这表明投资者对新头寸持中性情绪。然而，BTC 的价格仍处于 3 月份建立的先前最高位置的区域内。

Crucially, the open interest range exhibits volatility in the upper region, implying the potential for further liquidations by leveraged traders seeking liquidity. Gaah emphasizes that this price zone is particularly perilous for traders, and substantial pressure could trigger a correction that would reshape the asset's price structure, driving BTC lower before it can reach new all-time highs.

至关重要的是，未平仓合约范围在上部区域表现出波动性，这意味着寻求流动性的杠杆交易者有可能进一步清算。 Gaah 强调，这个价格区域对交易者来说尤其危险，巨大的压力可能会引发调整，从而重塑该资产的价格结构，推动 BTC 在达到新的历史高点之前下跌。

"It's a dangerous price region for leveraged traders and if pressured could trigger a deeper correction breaking the current price structure. This would take the Open Interest range down to the lower band, the Region of Extreme Fear, marked in red on the chart," Gaah states.

“对于杠杆交易者来说，这是一个危险的价格区域，如果受到压力，可能会引发更深层次的修正，打破当前的价格结构。这将使未平仓合约范围下降到下限，即图表上以红色标记的极度恐惧区域，”加赫说道。

Euphoric Market Sentiment Fuels Concerns

欣快的市场情绪引发担忧

Compounding the risks, the broader market sentiment remains euphoric, evidenced by elevated funding rates in the Bitcoin futures market. This indicates a period of extreme greed, creating the conditions for a potential major decline.

令风险雪上加霜的是，更广泛的市场情绪仍然乐观，比特币期货市场融资利率的上升就证明了这一点。这预示着一段极度贪婪的时期，为潜在的大幅下跌创造了条件。

Post-Halving Rally Uncertain

减半后反弹不确定

Gaah's analysis comes at a juncture when BTC is attempting to recover from a three-week decline. The cryptocurrency has retreated from its all-time high of $73,700 recorded on March 14 to below $62,000. Despite briefly regaining the $70,000 mark this week, BTC has since retreated to around $69,300 at the time of writing, according to CoinMarketCap data.

Gaah 的分析是在 BTC 试图从三周下跌中恢复的关键时刻做出的。该加密货币已从 3 月 14 日创下的历史高点 73,700 美元回落至 62,000 美元以下。根据 CoinMarketCap 的数据，尽管 BTC 本周短暂收复 70,000 美元大关，但截至撰写本文时，BTC 已回落至 69,300 美元左右。

Meanwhile, CryptoQuant recently highlighted that high demand from large BTC investors will be crucial in driving the asset's post-halving rally, as the impact of the quadrennial event has been diminishing.

与此同时，CryptoQuant 最近强调，大型 BTC 投资者的高需求对于推动该资产减半后的反弹至关重要，因为四年一次的事件的影响一直在减弱。

In conclusion, while the halving event is often anticipated to trigger a surge in Bitcoin's price, analysts like Gaah caution that a deeper correction remains a significant risk due to the current market conditions. Leveraged traders and investors are advised to exercise caution and monitor market developments closely.

总之，虽然人们通常预计减半事件会引发比特币价格飙升，但 Gaah 等分析师警告称，由于当前的市场状况，进一步的调整仍然是一个重大风险。建议杠杆交易者和投资者谨慎行事，密切关注市场动态。