Key Facts
CoinGlass data shows that in the 24 hours as of 5:14 pm EDT on Wednesday, approximately $444 million in long-standing positions were liquidated, the highest level since September 15. Previously, on September 21, about $925 million of short positions were liquidated, so the current rebound may rely more on spot buyers than on buying power from forced liquidations.
Bitcoin is currently trading at just above $84,000, and Glassnode points out that this level is the key dividing line between the path towards $96,700 and the retest of $77,000.
S P Global September Purchasing Managers 'Index (PMI) survey showed the fastest growth in five years.
CoinGlass data showed that about $444 million of positions were cleared by traders betting on price increases in the 24 hours ended Wednesday afternoon, setting a new high since September 15. The core question is whether Bitcoin's rally can be sustained without the previous short market.
Long positions accounted for approximately 77% of the overall market's approximately US$580 million in liquidations. The sell-off came on the same day that Fed officials signaled further interest rates. "In my benchmark scenario, further policy adjustments may be needed to ensure that inflation falls to target levels in a timely manner," Fed Governor Michael Barr said in a speech in Chicago.
How large is the clearing scale? Largest since September 15
CoinGlass 数据显示,约 3.8 亿美元的多头清算发生在美东时间上午 5 点至下午 1 点之间。未平仓合约价值(即未平仓期货头寸的价值)在 24 小时内下降了约 4%,至 1,514 亿美元。
这次清算窗口与上午 9:45 发布的标普全球初值 PMI 调查相重叠。综合指数从 8 月的 56.0 升至 9 月的 58.4,为五年来最快的增长速度。
伦敦 CryptoClub 通讯创始人 X 平台撰文称,此次抛售反映了“风险资产对债券收益率飙升的反应,这得益于强劲的 PMI 数据,且因糟糕的五年期拍卖结果而加剧。”
本周早些时候,看跌交易者承受了损失。CoinGlass 记录显示,9 月 21 日有近 9.25 亿美元的空头头寸被清算,而多头仅为 1.68 亿美元。Farside 数据显示,美国现货比特币 ETF 在 9 月 21 日净流入 9.99 亿美元,在 9 月 22 日净流入 7.147 亿美元。
持有者在卖出吗?Glassnode 表示获利了结依然轻微
周三的下跌也可能反映出周一上涨后轻微的获利了结行为。
短期持有者处于盈利状态。
Glassnode 周三发布的数据显示,过去七天内比特币持有者实现了约 51 亿美元的净利润。该公司表示,这一水平更接近 2023 年底,而非过去的市场高点。
Glassnode's weekly report positions the largest cluster of long-term holder supply in the US$84,000 to US$85,000 range.
Conditions for confirmation of reset: Bitcoin remains above 84K
CoinMarketCap data showed that as of 5:14 pm EST on Wednesday, Bitcoin trading price was approximately US$84,340, down 2.2% in 24 hours. This puts its price not far above the potential support area identified by Glassnode.
Farside's Wednesday ETF flow data released on Thursday will show whether spot demand is maintained during the liquidation process.
Long clearing removes some market leverage. Whether spot buyers will enter at $84,000 will be the next test.
Glassnode wrote in its weekly chain report: "If prices remain above 84K, the path to 96.7K will remain open. If it falls below 84K, 77K will come back to view."

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