A cryptocurrency market crash caused $430 billion in losses for cryptocurrencies and $2 billion in liquidations for traders this weekend. Facing the fear, uncertainty, and doubt of Iran-Israel’s conflict escalation, increased short positions threaten a short squeeze for leading assets.

本週末，加密貨幣市場崩盤導致加密貨幣損失 4,300 億美元，交易員清算 20 億美元。面對伊朗與以色列衝突升級的恐懼、不確定性和懷疑，空頭部位的增加可能會威脅到主要資產的空頭擠壓。

Notably, the crash liquidated over 500,000 cryptocurrency traders during the weekend, most of whom had bullish long positions. As the panic dominated within geopolitical tensions and the Iranian offensive, derivatives pivoted to a bearish state.

值得注意的是，週末崩盤導致超過 50 萬加密貨幣交易者清算，其中大多數持有看漲多頭部位。由於地緣政治緊張局勢和伊朗攻勢引發恐慌，衍生性商品轉向看跌狀態。

In particular, Bitcoin (BTC) and Solana (SOL) saw 41% and 60% of derivatives volume increase in the last 24 hours. The two cryptocurrencies have an open interest of $32.41 billion and $1.98 billion, respectively. Finbold retrieved this data from CoinGlass data on April 14.

特別是，比特幣 (BTC) 和 Solana (SOL) 的衍生性商品交易量在過去 24 小時內分別成長了 41% 和 60%。這兩種加密貨幣的未平倉合約分別為 324.1 億美元和 19.8 億美元。 Finbold 於 4 月 14 日從 CoinGlass 資料中檢索了這些資料。

Furthermore, both have accumulated significant liquidity pools from short-sellers’ liquidation prices. These pools make appealing targets for market makers and professional traders, potentially encouraging a short squeeze and a consequential surge.

此外，兩者都從賣空者的清算價格中累積了大量的流動性池。這些資金池對做市商和專業交易者來說是有吸引力的目標，可能會鼓勵軋空和隨之而來的飆升。

Bitcoin (BTC) short squeeze potential

比特幣（BTC）軋空潛力

The higher potential for an incoming short squeeze lies in the leading cryptocurrency, Bitcoin. Besides the surging volume, and increased open interest with BTC futures, the block subsidy halving is expected for this week.

未來擠壓的更大潛力在於領先的加密貨幣比特幣。除了交易量激增以及比特幣期貨未平倉合約增加之外，預計本周大宗補貼將減半。

Thus, this year’s halving could be a strong ignite for short liquidations, despite the geopolitical uncertainties.

因此，儘管存在地緣政治不確定性，今年的減半可能會強烈引發空頭清算。

Precisely, $2.97 billion in Bitcoin shorts await liquidation at $71,691, being the largest liquidity pool registered this month-over-month. Moreover, smaller pools trace the path for a potential skyrocket above the previous high of $73,805.

準確地說，29.7 億美元的比特幣空頭等待清算，價格為 71,691 美元，這是本月登記的最大流動性池。此外，規模較小的資金池可能會突破先前高點 73,805 美元。

A run to the first levels would result in 11% gains from Bitcoin’s current price of $64,391.

比特幣目前價格 64,391 美元上漲至第一個水準將導致 11% 的漲幅。

On the other hand, Bitcoin average transaction fees have already skyrocketed to a 4-month high above $24. This value nears the world’s average daily income, resulting in one Bitcoin transaction costing an average person’s full working day.

另一方面，比特幣平均交易費用已飆升至 24 美元以上，創 4 個月高點。這個數值接近世界平均每日收入，導致一筆比特幣交易需要花費普通人一整天的時間。

Solana (SOL) could skyrocket

Solana (SOL) 可能會飆升

Solana has a similar landscape with a significant liquidity pool at $190 per token. Yet, SOL needs a strong trigger to revert its current downtrend and short squeeze toward this target.

Solana 也有類似的情況，每個代幣擁有 190 美元的巨大流動性池。然而，SOL 需要一個強有力的觸發因素來扭轉其當前的下跌趨勢並逼近這一目標。

The Solana network is going through relevant challenges facing continued congestion issues and transaction failures. As a result, traders have favored short positions, which were rewarded amid the geopolitical tensions.

Solana 網路正在經歷相關挑戰，面臨持續的擁塞問題和交易失敗。因此，交易員青睞空頭頭寸，而空頭頭寸在地緣政治緊張局勢中得到了回報。

Nevertheless, the underlying bearish fundamentals could be approaching an end. Solana developers are already testing solutions that will potentially improve the network’s performance and could renew investors’ confidence in SOL.

儘管如此，潛在的看跌基本面可能即將結束。 Solana 開發人員已經在測試解決方案，這些解決方案可能會提高網路效能，並可能重振投資者對 SOL 的信心。

A run to $190 would result in over 35% gains from the $140 traded by press time.

如果價格上漲至 190 美元，則較截至發稿時的 140 美元交易價上漲 35% 以上。

However, understanding the macroeconomic risks and financial asset behavior under geopolitical tensions is crucial to navigating the current market. Investors must place their bets carefully and weigh the risks with savvy management.

然而，了解地緣政治緊張局勢下的宏觀經濟風險和金融資產行為對於駕馭當前市場至關重要。投資人必須謹慎下注，並透過精明的管理來權衡風險。

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

免責聲明：本網站上的內容不應被視為投資建議。投資是投機性的。投資時，您的資本面臨風險。