Volatility rocked crypto markets less than two days before Bitcoin’s halving, with the asset bouncing between $61,000 and $64,000.

在比特幣減半前不到兩天，波動性震撼了加密貨幣市場，資產價格在 61,000 美元至 64,000 美元之間波動。

According to CoinGlass, this market fluctuation triggered more liquidations in Bitcoin (BTC) positions and across the broader digital asset ecosystem. Long BTC positions suffered the biggest hit on April 18 due to the token’s brief drop under $62,000. 

據 CoinGlass 稱，這種市場波動引發了比特幣（BTC）頭寸和更廣泛的數位資產生態系統的更多清算。由於 BTC 短暫跌破 62,000 美元，4 月 18 日，BTC 多頭部位遭受最大打擊。

Traders betting on higher Bitcoin prices logged over $57 million in liquidations across several trading venues. Short positions, investors predicting price declines, lost north of $36 million in 24 hours. 

押注比特幣價格上漲的交易員在多個交易場所的清算金額超過 5,700 萬美元。投資者預測價格下跌，空頭部位在 24 小時內損失了 3,600 萬美元以上。

Data also ranked a $5.3 million BTC/USDT pair trader on crypto exchange OKX as the single-larget liquidation order at press time, as more than 74,571 traders saw positions wiped out from the market. 

截至發稿時，數據還將加密貨幣交易所 OKX 上的 530 萬美元 BTC/USDT 貨幣對交易者列為單筆最大清算訂單，超過 74,571 名交易者的頭寸從市場上消失。

Ethereum (ETH), the second-largest cryptocurrency, trailed BTC with over $53 million in liquidations comprised of long and short traders. Major altcoin Solana (SOL) boasted considerably less at $14 million, followed by veteran meme token Dogecoin (DOGE) with around $9 million.

第二大加密貨幣以太幣 (ETH) 的多頭和空頭交易者清算額超過 5,300 萬美元，落後於 BTC。主要山寨幣 Solana (SOL) 的價格要低得多，為 1400 萬美元，其次是老牌模因代幣 Dogecoin (DOGE)，價格約為 900 萬美元。

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Bitcoin pre-halving swings

比特幣減半前的波動

Bitcoin’s corrections and subsequent price swings seem to have initiated a market cooldown after racing to a new all-time high last month and buoying the entire crypto market near its 2021 peak. 

比特幣上個月創下歷史新高並提振整個加密貨幣市場接近 2021 年高峰後，其調整和隨後的價格波動似乎引發了市場降溫。

As of writing, the total crypto market traded flat, down 0.9% at a $2.3 trillion valuation per CoinGecko. The sector surpassed $3 trillion during the previous bull run and came close to this height following BTC’s boom earlier this year. 

截至撰寫本文時，整個加密貨幣市場交易持平，下跌 0.9%，CoinGecko 估值為 2.3 兆美元。在上一次牛市期間，該行業的價值超過了 3 兆美元，並在今年稍早 BTC 繁榮後接近這一高度。

However, pre-halving volatility is not a novel pattern in crypto, and markets historically retrace up to 50% before BTC automatically deploys its code change. As the name suggests, the halving will cut block reward by half, potentially stifling mining companies’ revenue. 

然而，減半前的波動性在加密貨幣中並不是一種新穎的模式，歷史上，在 BTC 自動部署其程式碼變更之前，市場會回撤高達 50%。顧名思義，減半將使區塊獎勵減少一半，可能會抑制礦業公司的收入。

As a cautionary measure, miners reportedly turned on more machines before the halving to extract as much value as possible from the blockchain and stockpile cash reserves to cushion operational costs. 

據報道，作為一項謹慎措施，礦商在減半之前開啟了更多機器，以從區塊鏈中提取盡可能多的價值，並儲備現金儲備以緩衝營運成本。

Read more: Bitcoin mining difficulty marks new high before halving

閱讀更多：比特幣挖礦難度在減半前創下新高