Bitcoin (BTC) was trading a hair's breadth away from its all-time high on Tuesday, as analysts plotted one final move higher in the coming days.

比特币（BTC）在周二的历史最高水平上交易了头发的宽度，因为分析师在未来几天绘制了最后一步。

Futures open interest across major exchanges hit $75 billion, an all-time high in U.S. dollar terms, as traders upped their leveraged positioning. That came alongside a continued rally in spot markets, with BTC holding above $100,000 for more than 11 straight days - a sign, some traders said, of accumulation and strength at current levels.

交易员提高其杠杆定位，期货在重大交易所之间的期货开放利息达到了750亿美元，这是一美元的历史最高期限。这与现货市场的持续集会同在，而BTC连续11天以上持有超过100,000美元的股份 - 一些交易员说，这是当前水平的积累和实力。

"The current price action appears to be a consolidation phase," said Ruslan Lienkha, chief of markets at YouHodler, in an email. "It's marked by accumulation, potentially setting the stage for another leg higher that could lead to a new all-time high."

YouHodler市场负责人Ruslan Lienkha在一封电子邮件中说：“当前的价格行动似乎是一个合并阶段。” “这是积累的标志，有可能为另一个更高的腿奠定基础，这可能会导致新的历史最高水平。”

Bitcoin was last changing hands above $107,500, up nearly 1.5% over the past 24 hours. Ether (ETH) and Solana's SOL added 2%, while dogecoin (DOGE), Cardano's ADA and xrp (XRP) bumped 3%.

比特币的最后一次易手超过$ 107,500，在过去的24小时内增长了近1.5％。 Ether（ETH）和Solana的SOL增加了2％，而Dogecoin（Doge），Cardano的Ada和XRP（XRP）撞到了3％。

Derivatives data supported the bullish outlook. The call-to-put open interest ratio reached 1.55 this weekend. At the same time, premiums for out-of-the-money calls rose across the board, a sign traders are positioning for a breakout, HTX Research's Chloe Zheng said in a weekend update shared with CoinDesk.

衍生品数据支持看涨的前景。召集的开放利率在本周末达到1.55。同时，HTX Research的Chloe Zheng在与Coindesk分享的周末更新中说，同时，货币货币货币货币货币往来的保费上升了。

At the same time, short-term implied volatility (IV) dropped to an 18-month low of 35–40%, reflecting a relatively calm backdrop despite rising positioning, HTX said.

HTX表示，与此同时，短期隐含波动率（IV）降至18个月的35-40％低点，尽管位置上升，但反映了相对平静的背景。

"This mix of euphoric sentiment and low volatility often conceals the build-up of excessive leverage," HTX Research noted. "But under such conditions, Bitcoin could retest new highs within 30–45 days."

HTX Research指出：“这种欣快情感和低波动性的混合通常掩盖了过度杠杆作用的积累。” “但是在这种情况下，比特币可以在30-45天内重新测量新的高点。”

Still, resistance at the $107,000 level has held for now. FxPro analyst Alex Kuptsikevich said in an email that the market is driven by "a crowd of retail investors" and momentum-chasing traders who remain undeterred by macro uncertainty or recent exchange security concerns.

尽管如此，目前仍保持了107,000美元的抵抗力。 FXPRO分析师Alex Kuptsikevich在一封电子邮件中说，市场是由“散户投资者的人群”和促进交易者驱动的，这些交易者仍然不受宏观不确定性或最近的交换安全问题的关注。

"Further dynamics will depend on changes in global risk appetite," Kuptsikevich wrote. "If the resistance at $107K is broken, there are more chances to restore the uptrend. That opens a path toward $115K."

Kuptsikevich写道：“进一步的动态将取决于全球风险食欲的变化。” “如果$ 107K的抵抗力破损，则有更多机会恢复上升趋势。这为$ 115K的道路打开了道路。”