{"id":75294,"date":"2026-04-23T09:45:51","date_gmt":"2026-04-23T02:45:51","guid":{"rendered":"https:\/\/hbbgroup.net\/bitcoin-bulls-rebuild-as-futures-metric-hits-4-month-high\/"},"modified":"2026-04-23T10:09:06","modified_gmt":"2026-04-23T03:09:06","slug":"bitcoin-bulls-rebuild-as-futures-metric-hits-4-month-high","status":"publish","type":"post","link":"https:\/\/hbbgroup.net\/vi\/bitcoin-bulls-rebuild-as-futures-metric-hits-4-month-high\/","title":{"rendered":"Phe b\u00f2 Bitcoin quay tr\u1edf l\u1ea1i khi ch\u1ec9 s\u1ed1 ph\u00e1i sinh \u0111\u1ea1t m\u1ee9c cao nh\u1ea5t trong 4 th\u00e1ng"},"content":{"rendered":"
\n

Th\u1ecb tr\u01b0\u1eddng ph\u00e1i sinh c\u1ee7a Bitcoin \u0111ang cho th\u1ea5y d\u1ea5u hi\u1ec7u t\u00e1i thi\u1ebft xu h\u01b0\u1edbng t\u0103ng, theo b\u1ea3n tin bu\u1ed5i s\u00e1ng m\u1edbi t\u1eeb nh\u00e0 ph\u00e2n t\u00edch on-chain Axel Adler Jr.. \u00d4ng cho bi\u1ebft vi\u1ec7c ch\u1ec9 s\u1ed1 Bitcoin Positioning Index t\u0103ng l\u00ean c\u00f9ng v\u1edbi s\u1ef1 gia t\u0103ng m\u1ea1nh c\u1ee7a open interest tr\u00ean th\u1ecb tr\u01b0\u1eddng futures cho th\u1ea5y d\u00f2ng ti\u1ec1n m\u1edbi \u0111ang ch\u1ea5p nh\u1eadn r\u1ee7i ro, thay v\u00ec ch\u1ec9 l\u00e0 m\u1ed9t nh\u1ecbp h\u1ed3i do \u0111\u00f3ng v\u1ecb th\u1ebf short. V\u1edbi c\u00e1c trader \u0111ang theo d\u00f5i li\u1ec7u \u0111\u1ee3t ph\u1ee5c h\u1ed3i g\u1ea7n \u0111\u00e2y c\u00f3 n\u1ec1n t\u1ea3ng v\u1eefng ch\u1eafc hay kh\u00f4ng, s\u1ef1 kh\u00e1c bi\u1ec7t n\u00e0y l\u00e0 r\u1ea5t quan tr\u1ecdng.<\/p>\n

Trong m\u00f4 h\u00ecnh ph\u00e2n t\u00edch c\u1ee7a Adler, t\u00edn hi\u1ec7u ch\u00ednh n\u1eb1m \u1edf \u0111\u01b0\u1eddng trung b\u00ecnh \u0111\u1ed9ng 30 ng\u00e0y c\u1ee7a Bitcoin Positioning Index, hi\u1ec7n \u0111\u00e3 t\u0103ng l\u00ean m\u1ee9c 4,5 \u2014 m\u1ee9c cao nh\u1ea5t trong 4 th\u00e1ng. Ch\u1ec9 s\u1ed1 theo ng\u00e0y c\u0169ng \u0111\u00e3 t\u0103ng l\u00ean 40,1, trong khi open interest c\u1ee7a h\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai Bitcoin (t\u00ednh theo thay \u0111\u1ed5i 30 ng\u00e0y) t\u0103ng 14,5%, thu\u1ed9c nh\u00f3m m\u1ee9c t\u0103ng m\u1ea1nh nh\u1ea5t trong 120 ng\u00e0y g\u1ea7n \u0111\u00e2y.<\/p>\n

\"Bitcoin
Ch\u1ec9 s\u1ed1 Bitcoin Positioning Index | Ngu\u1ed3n: Axel Adler Jr.<\/p>\n

Futures Bitcoin cho th\u1ea5y thi\u1ebft l\u1eadp \u201crisk-on\u201d m\u1edbi<\/strong><\/h2>\n

Theo Adler, khi k\u1ebft h\u1ee3p c\u00e1c s\u1ed1 li\u1ec7u n\u00e0y l\u1ea1i, c\u00f3 th\u1ec3 th\u1ea5y th\u1ecb tr\u01b0\u1eddng kh\u00f4ng ch\u1ec9 \u0111\u01a1n thu\u1ea7n l\u00e0 \u201c\u00e9p short\u201d c\u00e1c v\u1ecb th\u1ebf bearish c\u0169, m\u00e0 \u0111ang m\u1edf th\u00eam c\u00e1c v\u1ecb th\u1ebf m\u1edbi. \u00d4ng m\u00f4 t\u1ea3 s\u1ef1 thay \u0111\u1ed5i n\u00e0y l\u00e0 m\u1ed9t b\u01b0\u1edbc ngo\u1eb7t \u0111\u00e1ng ch\u00fa \u00fd so v\u1edbi c\u1ea5u tr\u00fac \u0111\u1ea7u n\u0103m. V\u00e0o th\u00e1ng 2, SMA-30 ng\u00e0y ch\u1ea1m \u0111\u00e1y \u1edf m\u1ee9c -10,9 khi Bitcoin gi\u1ea3m xu\u1ed1ng d\u01b0\u1edbi $63,000. K\u1ec3 t\u1eeb \u0111\u00f3, ch\u1ec9 b\u00e1o \u0111\u00e3 ph\u1ee5c h\u1ed3i h\u01a1n 15 \u0111i\u1ec3m, chuy\u1ec3n t\u1eeb tr\u1ea1ng th\u00e1i \u201cb\u1ecb t\u1ed5n th\u01b0\u01a1ng\u201d sang m\u1ed9t c\u1ea5u tr\u00fac \u0111ang c\u1ea3i thi\u1ec7n \u1ed5n \u0111\u1ecbnh, thay v\u00ec ch\u1ec9 t\u0103ng v\u1ecdt r\u1ed3i suy y\u1ebfu.<\/p>\n

B\u00e1o c\u00e1o nh\u1ea5n m\u1ea1nh v\u00e0o s\u1ef1 k\u1ebft h\u1ee3p c\u1ee7a c\u00e1c t\u00edn hi\u1ec7u. Adler cho bi\u1ebft n\u1ebfu SMA-30d c\u1ee7a Positioning t\u0103ng trong khi open interest gi\u1ea3m, th\u1ecb tr\u01b0\u1eddng c\u00f3 xu h\u01b0\u1edbng \u0111ang \u201cd\u1ecdn d\u1eb9p\u201d c\u00e1c v\u1ecb th\u1ebf c\u0169. Ng\u01b0\u1ee3c l\u1ea1i, n\u1ebfu c\u1ea3 hai c\u00f9ng t\u0103ng, \u0111i\u1ec1u \u0111\u00f3 cho th\u1ea5y d\u00f2ng v\u1ed1n m\u1edbi v\u00e0 \u0111\u00f2n b\u1ea9y m\u1edbi \u0111ang tham gia th\u1ecb tr\u01b0\u1eddng.<\/p>\n

Theo \u00f4ng, \u0111\u00f3 ch\u00ednh l\u00e0 nh\u1eefng g\u00ec \u0111ang di\u1ec5n ra hi\u1ec7n t\u1ea1i. \u201cNh\u1eefng g\u00ec ch\u00fang ta \u0111ang th\u1ea5y ch\u00ednh l\u00e0 k\u1ecbch b\u1ea3n th\u1ee9 hai,\u201d Adler vi\u1ebft. \u201cM\u1ee9c thay \u0111\u1ed5i open interest trong 30 ng\u00e0y \u0111\u1ea1t +14,5%. \u0110\u00e2y l\u00e0 m\u1ed9t trong hai m\u1ee9c cao nh\u1ea5t trong 120 ng\u00e0y qua. H\u01a1n n\u1eefa, 23\/30 ng\u00e0y g\u1ea7n nh\u1ea5t \u0111\u1ec1u ghi nh\u1eadn open interest t\u0103ng. \u0110\u00e2y l\u00e0 qu\u00e1 tr\u00ecnh t\u00e1i x\u00e2y d\u1ef1ng \u0111\u00f2n b\u1ea9y theo xu h\u01b0\u1edbng t\u0103ng m\u1ed9t c\u00e1ch b\u1ec1n v\u1eefng.\u201d<\/p>\n<\/figcaption><\/figure>\n

\"Bitcoin
M\u1ee9c thay \u0111\u1ed5i open interest Bitcoin trong 30 ng\u00e0y | Ngu\u1ed3n: Axel Adler Jr.<\/p>\n

\u0110i\u1ec3m n\u00e0y l\u00e0 tr\u1ecdng t\u00e2m c\u1ee7a b\u00e1o c\u00e1o. M\u1ed9t \u0111\u1ee3t t\u0103ng gi\u00e1 do \u0111\u00f3ng v\u1ecb th\u1ebf (position unwinds) c\u00f3 th\u1ec3 r\u1ea5t m\u1ea1nh nh\u01b0ng th\u01b0\u1eddng ng\u1eafn h\u1ea1n. Ng\u01b0\u1ee3c l\u1ea1i, m\u1ed9t \u0111\u1ee3t t\u0103ng \u0111\u01b0\u1ee3c h\u1ed7 tr\u1ee3 b\u1edfi open interest gia t\u0103ng v\u00e0 \u0111\u1ecbnh v\u1ecb th\u1ecb tr\u01b0\u1eddng c\u1ea3i thi\u1ec7n s\u1ebd mang th\u00f4ng \u0111i\u1ec7p kh\u00e1c: nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111ang m\u1edf th\u00eam v\u1ecb th\u1ebf m\u1edbi, v\u00e0 l\u00e0m \u0111i\u1ec1u \u0111\u00f3 \u0111\u1ee7 \u0111\u1ec1u \u0111\u1eb7n \u0111\u1ec3 thay \u0111\u1ed5i c\u1ea5u tr\u00fac chung c\u1ee7a th\u1ecb tr\u01b0\u1eddng ph\u00e1i sinh.<\/p>\n

Adler c\u0169ng so s\u00e1nh thi\u1ebft l\u1eadp hi\u1ec7n t\u1ea1i v\u1edbi th\u00e1ng 1, khi ch\u1ec9 s\u1ed1 Positioning theo ng\u00e0y t\u1eebng t\u0103ng v\u1ecdt nh\u01b0ng kh\u00f4ng chuy\u1ec3n th\u00e0nh xu h\u01b0\u1edbng b\u1ec1n v\u1eefng. \u201cV\u00e0o th\u00e1ng 1, ch\u1ec9 s\u1ed1 Positioning theo ng\u00e0y c\u0169ng \u0111\u00e3 c\u00f3 l\u00fac t\u0103ng tr\u00ean +20 v\u00e0 +30, nh\u01b0ng c\u1ea5u tr\u00fac nhanh ch\u00f3ng suy y\u1ebfu v\u00e0 open interest kh\u00f4ng x\u00e1c nh\u1eadn xu h\u01b0\u1edbng \u0111\u00f3,\u201d \u00f4ng vi\u1ebft. \u201cThi\u1ebft l\u1eadp hi\u1ec7n t\u1ea1i m\u1ea1nh h\u01a1n nhi\u1ec1u: xu h\u01b0\u1edbng SMA-30d \u0111\u01b0\u1ee3c l\u00e0m m\u01b0\u1ee3t \u0111ang \u0111i l\u00ean, \u0111\u1ed3ng th\u1eddi open interest x\u00e1c nh\u1eadn d\u00f2ng \u0111\u00f2n b\u1ea9y m\u1edbi \u0111ang v\u00e0o th\u1ecb tr\u01b0\u1eddng. \u0110\u00e2y kh\u00f4ng ph\u1ea3i l\u00e0 m\u1ed9t c\u00fa b\u1eadt \u0111\u01a1n l\u1ebb \u2014 m\u00e0 l\u00e0 s\u1ef1 \u0111\u1ed3ng thu\u1eadn gi\u1eefa hai ch\u1ec9 s\u1ed1.\u201d<\/p>\n

Tuy nhi\u00ean, \u0111i\u1ec1u \u0111\u00f3 kh\u00f4ng c\u00f3 ngh\u0129a l\u00e0 kh\u00f4ng c\u00f3 r\u1ee7i ro. B\u00e1o c\u00e1o c\u0169ng ch\u1ec9 r\u00f5 c\u00e1c d\u1ea5u hi\u1ec7u cho th\u1ea5y c\u1ea5u tr\u00fac c\u00f3 th\u1ec3 suy y\u1ebfu. C\u1ea3nh b\u00e1o \u0111\u1ea7u ti\u00ean l\u00e0 khi open interest quay l\u1ea1i d\u01b0\u1edbi 0 tr\u00ean c\u01a1 s\u1edf 30 ng\u00e0y, cho th\u1ea5y qu\u00e1 tr\u00ecnh gi\u1ea3m \u0111\u00f2n b\u1ea9y quay tr\u1edf l\u1ea1i. T\u00edn hi\u1ec7u x\u1ea5u th\u1ee9 hai l\u00e0 SMA-30d \u0111\u1ea3o chi\u1ec1u gi\u1ea3m v\u00e0 r\u01a1i xu\u1ed1ng d\u01b0\u1edbi 0, bi\u1ebfn c\u1ea5u tr\u00fac t\u0103ng b\u1ec1n v\u1eefng hi\u1ec7n t\u1ea1i th\u00e0nh m\u1ed9t c\u00fa spike th\u1ea5t b\u1ea1i.<\/p>\n

\u1ede th\u1eddi \u0111i\u1ec3m hi\u1ec7n t\u1ea1i, k\u1ecbch b\u1ea3n c\u01a1 s\u1edf c\u1ee7a Adler v\u1eabn mang t\u00ednh t\u00edch c\u1ef1c, mi\u1ec5n l\u00e0 hai \u0111i\u1ec1u ki\u1ec7n \u0111\u01b0\u1ee3c duy tr\u00ec: open interest d\u01b0\u01a1ng v\u00e0 \u0111\u01b0\u1eddng trung b\u00ecnh \u0111\u1ecbnh v\u1ecb ti\u1ebfp t\u1ee5c \u0111i l\u00ean. H\u00e0m \u00fd l\u1edbn h\u01a1n l\u00e0 \u0111\u1ee3t ph\u1ee5c h\u1ed3i g\u1ea7n \u0111\u00e2y c\u1ee7a Bitcoin \u2014 \u00edt nh\u1ea5t tr\u00ean th\u1ecb tr\u01b0\u1eddng futures \u2014 \u0111ang \u0111i k\u00e8m v\u1edbi s\u1ef1 s\u1eb5n s\u00e0ng quay l\u1ea1i s\u1eed d\u1ee5ng \u0111\u00f2n b\u1ea9y c\u1ee7a d\u00f2ng ti\u1ec1n l\u1edbn.<\/p>\n

T\u1ea1i th\u1eddi \u0111i\u1ec3m vi\u1ebft b\u00e0i, BTC \u0111ang giao d\u1ecbch quanh m\u1ee9c $78,620.<\/p>\n<\/figcaption><\/figure>\n

\"BitcoinBitcoin v\u01b0\u1ee3t l\u00ean tr\u00ean \u0111\u01b0\u1eddng EMA 20 tu\u1ea7n tr\u00ean khung 1 tu\u1ea7n | Ngu\u1ed3n: bi\u1ec3u \u0111\u1ed3<\/span> BTCUSDT on TradingView.com<\/a><\/figure>\n

\u1ea2nh minh h\u1ecda \u0111\u01b0\u1ee3c t\u1ea1o b\u1eb1ng DALL\u00b7E, bi\u1ec3u \u0111\u1ed3 t\u1eeb TradingView.com<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

Th\u1ecb tr\u01b0\u1eddng ph\u00e1i sinh c\u1ee7a Bitcoin \u0111ang cho th\u1ea5y d\u1ea5u hi\u1ec7u t\u00e1i thi\u1ebft xu h\u01b0\u1edbng t\u0103ng, theo b\u1ea3n tin bu\u1ed5i […]<\/p>","protected":false},"author":5,"featured_media":75295,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[220],"tags":[],"class_list":["post-75294","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tien-dien-tu"],"acf":[],"_links":{"self":[{"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/posts\/75294","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/comments?post=75294"}],"version-history":[{"count":1,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/posts\/75294\/revisions"}],"predecessor-version":[{"id":75421,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/posts\/75294\/revisions\/75421"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/media\/75295"}],"wp:attachment":[{"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/media?parent=75294"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/categories?post=75294"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/tags?post=75294"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}