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分析师:以太坊近期反弹由空头回补推动,而非全因新需求
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链上智者
05-16 20:18
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5 月 16 日,据 CoinDesk 报道,加密指数提供商 CF Benchmarks 首席执行官 Sui Chung 在接受采访时表示:「近期以太坊上涨主要是由于空头回补——交易员解除看跌头寸——而不是市场出现了强烈的做多信念。」


在空头回补的过程中,做空者会回购他们此前卖出的期货合约。这种操作会在短期内增加市场需求,从而对价格造成上行压力。


Chung 指出,CME 比特币期货的溢价(也称基差)仍处于较低水平,这正说明本轮上涨主要由空头回补所驱动。


Chung 补充道:「在更典型的市场情形中,如果交易者开始使用杠杆建立新多头头寸,我们通常会看到基差水平上升。这个现象提醒我们,并非所有上涨行情都是由新增需求推动,有时只是反映了仓位调整和风险降低。」

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