Odaily星球日报讯 “大摩”摩根士丹利加密货币策略团队指出，当交易员以杠杆工具押注比特币下跌时，价格的持续上涨会使其保证金账户面临穿仓风险，此时必须紧急从市场回购比特币以了结头寸，这种集中性的回购行为反过来进一步推高价格，形成“价格上涨—空头平仓—价格再上涨”的正反馈循环。 Coinglass 数据显示，过去 1 小时多单成交达 57.62 亿美元，上涨 52.94%，但当前空头头寸占比仍达 48%，摩根士丹利称多数空头集中在 115000 美元以下的防御性点位，若价格持续站稳 117000 美元，可能引发新一轮规模达 5 亿美元的空头平仓，进一步强化上涨动能。
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