與以前的衝浪相比

當前的比特幣集會在4月初開始接近74,508美元，現在已將價格推高了100,000美元

The current Bitcoin rally, which began near $74,508 in early April and has now pushed the price past $100,000, stands out for its stability compared to previous surges. Recent on-chain and market data show the cryptocurrency rising without the signs of overheating seen in earlier bull cycles. This trend has caught the attention of analysts monitoring the relationship between price movements, futures funding rates, and market buy volume.

目前的比特幣集會在4月初開始接近74,508美元，現在已經將價格推高了100,000美元，與以前的潮流相比，其穩定性脫穎而出。最近的鏈上和市場數據表明，加密貨幣上升，沒有早期牛週期中過熱的跡象。這種趨勢引起了分析師的注意，監測價格變動，期貨融資率和市場購買量之間的關係。

In the last bull phase for Bitcoin, an increase in funding rates on Binance and increases in market buy volume coincided with new all-time highs, followed by notable corrections. As futures markets relied too heavily on leverage, the sharp increase in bullish sentiment caused quick stabilizations. However, the recent rally has not shown any significant changes in funding rates, and a drop in Binance’s buy volume was observed in recent CryptoQuant findings. This indicates that market trading is cautious and accumulation is steady, but short-term speculation can still be observed.

在比特幣的最後一個公牛階段中，二手資金的籌資速率和市場購買量的增加與新的歷史最高高點相吻合，然後進行了明顯的校正。隨著期貨市場過於依賴槓桿率，看漲情緒的急劇增加導致了穩定的快速穩定。但是，最近的集會尚未顯示出資金率的重大變化，並且在最近的加密調查結果中觀察到了Binance的買入量下降。這表明市場交易是謹慎的，積累是穩定的，但是仍然可以觀察到短期投機。

Stable Funding Rates and Steady Buying Indicate Strength

穩定的資金率和穩定的購買表明強度

Data provided by CryptoQuant analysts highlights that Bitcoin’s current price movement is not showing the same overheated signs as previous rallies. Analysts highlight no sudden spikes in funding rates, while buying activity remains positive despite the lack of aggressive leverage.

加密分析師提供的數據強調，比特幣的當前價格變動沒有顯示出與以前的集會相同的過熱標誌。分析師強調，儘管缺乏積極的槓桿作用，但購買活動的籌資速度並沒有突然的峰值。

While subject to short-term fluctuations, market buy volume has risen since 2023, mirroring strength in investor sentiment. Long-term holders are also significantly contributing to this trend. Recent on-chain data reveals these new investors have not increased selling pressure, even as Bitcoin trades close to its previous record high of $108,786 from January.

儘管有短期波動，但自2023年以來，市場購買量增長，反映了投資者情緒的實力。長期持有人也為這一趨勢做出了重大貢獻。最近的鏈上數據表明，即使比特幣交易接近1月以前的108,786美元，這些新投資者並沒有增加銷售壓力。

As crypto holdings keep growing, it indicates a belief in rising prices by those who hold the most considerable amounts. This behavior reduces the likelihood of a sudden supply shock but adds a layer of resilience to the current market.

隨著加密貨幣持有的不斷增長，這表明那些擁有最大數量的人對價格上漲的信念。這種行為降低了突然的供應衝擊的可能性，但為當前市場增加了一層韌性。

Outlook for Bitcoin Price and Market Sentiment

比特幣價格和市場情緒的前景

Analysts remain cautious about whether the next Bitcoin all-time high will happen. Moreover, steady funding, growing ownership from long-term holders, and regular buy volume indicate a positive outlook. The latest stats show that Bitcoin is valued at $104,393, a 1.9% increase from the previous day. The market is still heading for slow and steady development rather than abrupt ups and downs.

分析師對下一個比特幣是否有史以來高高持續謹慎。此外，穩定的資金，長期持有人的所有權不斷增長以及定期購買量表明前景積極。最新統計數據顯示，比特幣的價值為104,393美元，比前一天增長1.9％。市場仍處於緩慢而穩定的發展，而不是突然的起伏。

CryptoQuant’s analyst noted that the present rebound “indicates that the market’s buying sentiment is still favorable for further increases, suggesting that now is not the time to consider exiting.” While short-term volatility may persist, the absence of overheated market conditions sets the stage for a potentially healthier bull market in the coming weeks.

CryptoQuant的分析師指出，目前的反彈“表明市場的購買情緒仍然有利於進一步增加，這表明現在不是考慮退出的時候了。”儘管短期波動率可能會持續存在，但缺乏過熱的市場狀況為未來幾週內可能更健康的牛市奠定了基礎。

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