Sự siết ngắn kỷ lục của bitcoin và việc thiết lập lại đòn bẩy báo hiệu khả năng phục hồi thị trường tăng giá

The Huoxing Finance report states that on August 26, analysts from K33 and Bitwise indicated that Bitcoin’s record-breaking short squeeze, leverage reset, and macro catalysts brought by U.S. Treasury Secretary Bentsen may signal a broader market shift toward a bull market reset. Bitcoin rose 23% over the past week, marking its strongest weekly performance since the November 2024 U.S. election rally; spot and perpetual contract trading volumes increased by 188%, CME volume rose by 152%, and net inflows into Bitcoin investment products reached 31,740 BTC. K33 Research Director Vetle Lunde noted that on August 19, $1.37 billion in Bitcoin shorts were liquidated, nearly double the previous single-day record of $757 million set in July 2021; another $739 million in shorts were liquidated on August 21. Since then, the notional open interest in perpetual contracts has dropped to 284,000 BTC, the lowest since May, and funding rates have returned to neutral. Historically, large-scale short squeezes typically occur during Bitcoin’s bottoming phases. Other indicators are also shifting in tandem. The six-month 25 Delta options skew for Bitcoin turned negative for the first time since September 2025, indicating that call prices are higher than put prices, ending an 11-month period during which the market paid a premium for downside protection. Bitcoin has also reclaimed its 50-day, 100-day, 200-day, and 200-week moving averages within four days—faster than any previous cycle; previously, such a recovery within 45 days occurred only in October 2015, April 2020, and October 2023—all near the onset of cyclical bull markets. Bentsen’s push to increase long-term U.S. Treasury repurchase agreements is also viewed as an additional catalyst. Bitcoin’s 90-day correlation with gold has risen to 0.52, the highest since October 2020; its correlation with the Nasdaq has fallen to 0.38, a one-year low. Bitwise Chief Investment Officer Matt Hougan believes that as the global financial system becomes increasingly used as a geopolitical tool, a neutral monetary network independent of any single country’s banking system and capable of global transfer will become more valuable.