比特币交易者正在撤退吗？市场突然重置，持仓量暴跌 50%

随着加密市场日益看跌，比特币价格再次回调，再次逼近 80,000 美元大关。随着当前价格的下跌，比特币的衍生品市场也呈现出看跌的表现，遭受了当前周期中最大幅度的跌幅之一。

比特币的大规模衍生品平仓

在动荡的环境中，比特币的未平仓合约（OI）急剧收缩，就好像支撑市场的投机框架突然被移除一样。未平仓合约急剧下降是在 BTC 价格突然回落之后发生的，导致其失去之前收复的 91,000 美元大关。

CryptoQuant 市场专家兼作者 Darkfost 的一份报告显示，未平仓头寸已减半，表明投资者情绪和行为发生了巨大转变。随着大部分杠杆被蒸发，市场现在异常安静，同时正在为下一个决定性的触发因素做准备。

Darkfost highlighted that Bitcoin leveraged positions continue to get liquidated or are being intentionally closed.尽管近期比特币价格下跌，但这段不确定时期并没有提振交易者增加风险敞口的热情。

Currently, the market is exhibiting a risk-off attitude, a trend that is understandable given the current state of the crypto environment. As a result, the open interest of BTC has cleared a whopping $20 billion.专家分享的数据显示，10 月 6 日至 12 月期间，这一关键指标从 475 亿比特币下降至 283.5 亿比特币，意味着在此期间下降了一半。 

据专家称，这是自衍生品市场出现以来当前周期和比特币历史上最严重的暴涨。 “I continue to say that the derivatives market has a major impact on Bitcoin and is the number one driver,” Darkfost stated.

BTC 百分比损失达到历史水平

As the Bitcoin price continues to pull back, short-term BTC holders are feeling the weight of the waning action. These holders, also referred to as retail investors, have realized substantial losses from their positions. 

Darkfost’s research is based solely on the spot market. His objective is to identify a very particular group of investors who speculate over the short term. 1 个月到 3 个月内的 BTC 持有者的实际价格为 113,692 美元，目前正在经历当前市场周期中最大的百分比损失。 

For the past two weeks, this group of investors has been holding average unrealized losses between 20% and 25%. During his cycle, these phases have been linked with the creation of a bottom. This is because the cohort often has to decide between two behaviors: selling or holding.

正如最近几周观察到的那样，如果这些交易者中的很大一部分都投降了，那么这通常是积累 BTC 的机会变得更有趣的时刻。 However, this setup becomes valid if the bullish trend remains intact in the long term, which Darkfost expresses trust in for the meantime.