比特币达到创纪录的开放兴趣水平

由于其价格调情以107,000美元的价格调情，因此可能会大量清算短职位的大规模清算可能会使BTC达到新的历史最高水平。

Cryptocurrency market today seems marked by a surge in open interest on bitcoin futures contracts. It has now reached a record level of 72 billion dollars. This represents an 8% increase in just one week.

今天的加密货币市场似乎是对比特币期货合约开放兴趣的激增。现在，它达到了720亿美元的创纪录水平。这仅在仅一周内增长8％。

For many crypto experts, this figure showcases the strong institutional participation in the light of the latest price rise. However, this high leveraged exposure carries significant risk for bitcoin. 1.2 billion dollars in short positions concentrated between $107,000 and $108,000 risk being liquidated if a breakout occurs.

对于许多加密专家而言，根据最新价格上涨，这一数字展示了强大的机构参与。但是，这种高杠杆暴露对比特币带来了重大风险。如果发生突破，则有12亿美元的短股份集中在107,000美元至108,000美元之间。

These forced liquidations could propel bitcoin towards a new all-time high (ATH), given the buying pressure that would accompany this scenario. Moreover, this scenario would likely amplify the bullish momentum on the market.

考虑到这种情况会带来购买压力，这些强制清算可能会推动比特币朝着新的历史最高（ATH）推动。此外，这种情况可能会扩大市场上看涨的势头。

Bitcoin: US Debt and Institutional Flows

比特币：美国债务和机构流动

The macroeconomic situation heavily weighs on the financial market. This mainly refers to the US budget debt which creates persistent uncertainty. Adding to this is the rise in 20-year Treasury bond yields. This context indeed pushes investors to seek alternative hedging strategies, with bitcoin leading the list.

宏观经济状况严重在金融市场上。这主要是指美国预算债务，这会导致持续的不确定性。加上这是20年期债券收益率的上升。这种情况确实促使投资者寻求替代性套期保值策略，而比特币则领先。

In parallel, notable movements are observed with the possible reallocation of part of the digital gold reserves towards BTC. A modest rotation of 5% of US gold reserves would equate to an inflow of 105 billion dollars. This represents about one million BTC at $105,000.

同时，通过将一部分数字黄金储量向BTC进行重新分配，观察到了显着的运动。 5％的美国黄金储量的适度轮换将等同于100亿美元的流入。这约为105,000美元的BTC约100万。

This dynamic illustrates BTC’s growing role in diversifying institutional portfolios, as evidenced by the levels of open interest on the futures markets.

这种动态说明了BTC在多样化的机构投资组合中的越来越多的作用，这证明了期货市场的开放兴趣水平。

As bitcoin approaches $108,000, a record open interest could create a dynamic conducive to a new ATH. However, volatility always requires caution. To be continued…

随着比特币接近108,000美元，创纪录的开放兴趣可能会为新的ATH创造一个动态利益。但是，波动总是需要谨慎。待续…

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