The Bitcoin Market: Under Threat of Liquidation

比特幣市場：面臨清算威脅

The highly volatile Bitcoin market faces the looming threat of a massive liquidation. Should Bitcoin rebound to $71,000, approximately $1.38 billion in short positions could potentially be wiped out. This situation underscores the inherent risks associated with cryptocurrency trading.

高度波動的比特幣市場面臨大規模清算的迫在眉睫的威脅。如果比特幣反彈至 71,000 美元，大約 13.8 億美元的空頭部位可能會被消滅。這種情況凸顯了與加密貨幣交易相關的固有風險。

Impact of Economic Reports on Bitcoin

經濟報告對比特幣的影響

Prior to a recent downturn, Bitcoin fluctuated between $70,000 and $71,662. Traders expressed optimism, anticipating a potential rise to the cryptocurrency's all-time high of $73,679.

在最近的低迷之前，比特幣在 70,000 美元至 71,662 美元之間波動。交易員表示樂觀，預計加密貨幣可能會升至 73,679 美元的歷史高點。

However, market conditions deteriorated rapidly on June 7th. Bitcoin experienced a 3.33% decline, dropping from $69,427 to $68,507, before stabilizing above $69,000. This occurred amid macroeconomic uncertainty, particularly the release of the U.S. jobs report.

然而，6月7日市場狀況迅速惡化。比特幣下跌 3.33%，從 69,427 美元跌至 68,507 美元，然後穩定在 69,000 美元以上。這是在宏觀經濟不確定的情況下發生的，特別是美國就業報告的發布。

The jobs report, indicating stronger-than-expected job growth in May, surprised investors and disrupted markets. Concerns arose regarding the future monetary policy of the Federal Reserve, leading to volatility in financial markets. Bitcoin's reaction to this economic data was immediate and severe.

就業報告顯示 5 月就業成長強於預期，令投資者感到驚訝並擾亂了市場。人們對聯準會未來貨幣政策的擔憂加劇，導致金融市場波動。比特幣對這經濟數據的反應是立即而嚴厲的。

Liquidations Across Cryptocurrencies

加密貨幣清算

Alongside Bitcoin's decline, other major cryptocurrencies experienced losses. Ether saw a 3.58% drop, while altcoins such as Solana and Dogecoin fell by 5.61% and 8.70%, respectively.

隨著比特幣的下跌，其他主要加密貨幣也遭受了損失。以太幣下跌 3.58%，而 Solana 和 Dogecoin 等山寨幣分別下跌 5.61% 和 8.70%。

According to CoinGlass, these declines resulted in the liquidation of $409.51 million in long and short positions, including $56.71 million in long Bitcoin positions.

根據 CoinGlass 的數據，這些下跌導致 4.0951 億美元的多頭和空頭部位被清算，其中包括 5,671 萬美元的比特幣多頭部位。

Trader Sentiment and Short Position Dominance

交易者情緒和空頭部位優勢

In light of the recent events, traders have become increasingly pessimistic about a rapid Bitcoin recovery. The prevalence of short positions indicates anticipation of further price declines. If Bitcoin reaches $71,000 again, $1.38 billion in short positions would be liquidated, reflecting the growing skepticism among futures traders.

鑑於最近發生的事件，交易員對比特幣的快速復甦變得越來越悲觀。空頭部位盛行顯示價格進一步下跌的預期。如果比特幣再次達到 71,000 美元，則 13.8 億美元的空頭部位將被清算，反映出期貨交易者日益增長的懷疑情緒。

Factors Influencing Bitcoin's Price

影響比特幣價格的因素

Investors have questioned the reasons behind Bitcoin's recent lack of growth beyond its March highs, despite significant inflows into Bitcoin exchange-traded funds (ETFs) for 19 consecutive days. While these inflows are notable, they have been insufficient to offset sales across the broader ecosystem.

儘管連續 19 天有大量資金流入比特幣交易所交易基金 (ETF)，但投資者仍質疑比特幣近期未能突破 3 月高點的成長背後的原因。儘管這些資金流入引人注目，但不足以抵消整個生態系統的銷售額。

The complexities of the Bitcoin market cannot be overstated. As Charles Edwards, founder of Capriole Investments, has noted, ETF inflows, while positive, are not yet sufficient to counterbalance overall sales. Additionally, crypto trader Christopher Inks emphasizes the market's interconnectedness, including spot transactions, futures, ETFs, and options, each of which influences Bitcoin's price in its own way.

比特幣市場的複雜性怎麼強調都不為過。正如 Capriole Investments 創始人 Charles Edwards 所指出的那樣，ETF 資金流入雖然為正，但還不足以抵消整體銷售。此外，加密貨幣交易員 Christopher Inks 強調了市場的相互關聯性，包括現貨交易、期貨、ETF 和選擇權，每一種都以自己的方式影響比特幣的價格。

Conclusion

結論

The current context highlights the multifaceted and volatile nature of the cryptocurrency market. Investors and traders must navigate an environment where economic data, central bank decisions, and market dynamics interact in intricate and often unpredictable ways.

目前的背景凸顯了加密貨幣市場的多面性和波動性。投資者和交易者必須應對經濟數據、央行決策和市場動態以複雜且往往不可預測的方式相互作用的環境。