儘管有反彈，但比特幣（BTC）恢復了基礎

由於短暫的政治爭議引起了上週的下降，比特幣恢復了基礎，恢復了約11萬美元。

Bitcoin price recovered some lost ground on Monday as the cryptocurrency attempted to stabilize following last week’s decline, which was triggered by a brief political controversy and set the asset up for a potential leg higher.

週一，比特幣價格在上週下降後試圖穩定，這是由於短暫的政治爭議引起的，並為潛在的腿部提高了潛在的腿部，因此在周一恢復了一些失敗的立場。

Many traders remained hesitant, showing caution even as Bitcoin traded within 2% of its all-time high around $110,000. A persistent atmosphere of “disbelief” was evident in key market indicators, with participants opting for risk-averse positioning ahead of macroeconomic data releases.

許多貿易商仍然猶豫，即使比特幣在其歷史最高高點的2％左右的交易額約為110,000美元左右。在關鍵市場指標中明顯看出，“難以置信”的持續氣氛很明顯，參與者選擇在宏觀經濟數據發布之前進行避免風險的定位。

A recent report by K33 Research highlighted the lack of bullish conviction in the derivatives market, evident in negative funding rates and flat leveraged inflows. These conditions suggest that rather than a speculative rush, the rally may be driven by underlying demand.

K33 Research的最新報告強調了衍生品市場缺乏看漲信念，這在負資金率和平坦的槓桿流入方面很明顯。這些條件表明，集會可能是由潛在的需求驅動的，而不是投機性的衝動。

Bitcoin Funding Data Reflects Conservative Positioning

比特幣資金數據反映了保守的定位

According to K33 Head of Research Vetle Lunde, Binance’s BTC/USDT perpetual contracts registered negative daily funding rates on Friday and Sunday, while the weekly funding average was just 1.3% annualized, a level usually seen near local bottoms over the last two and a half years.

根據K33研究獸醫Lunde的說法，Binance的BTC/USDT永久合同在周五和周日的每日籌資率負數，而每週的資金平均水平僅為1.3％，在過去兩年半的時間裡，通常在本地底部接近本地底部。

In such conditions, traders are generally paying to remain short, reflecting a prevailing bearish bias despite the price recovery. Lunde noted that such bearish sentiment could act as fuel for a future breakout.

在這種情況下，交易者通常會付費以保持短缺，反映出儘管價格回收，但仍有盛行的看跌偏見。倫德指出，這種看跌的情緒可以充當未來突破的燃料。

Furthermore, data from the Volatility Shares 2x leveraged long Bitcoin ETF (NYSE:BITX) adds to the cautious narrative. The fund holds just 52,435 BTC in exposure, significantly lower than its peak of 76,755 BTC in December.

此外，波動率的數據共享2倍利用的長比特幣ETF（NYSE：BITX）增加了謹慎的敘述。該基金僅持有52,435 BTC的暴露量，明顯低於12月的76,755 BTC的峰值。

Unlike previous rallies in March and November 2024, recent inflows into BITX have remained largely flat over the past month, suggesting that traders are refraining from aggressive bullish exposure via leverage.

與2024年3月和2024年11月的以前的集會不同，最近一個月進入BITX的流入仍然很平坦，這表明交易者通過槓桿作用避免了積極的看漲暴露。

This defensive setup could lead to an unexpected surge if sentiment flips.

如果情緒翻轉，這種防禦性設置可能會導致意外的激增。

Ethereum Derivatives See Leverage Spike As ETF Flows Climb

以太坊衍生品請參見槓桿峰值，因為ETF流攀登

While Bitcoin remains subdued on the leverage front, Ethereum markets are witnessing increased speculative activity. The Volatility Shares 2x leveraged Ethereum ETF (BSE:ETHU) has captured significant attention, becoming a dominant player in the ETH derivatives space.

儘管比特幣在槓桿方面仍然柔和，但以太坊市場目睹了投機活動的增加。波動率分享了2倍槓桿以太坊ETF（BSE：ETHU）引起了極大的關注，成為ETH衍生品空間中的主要參與者。

Since April 8, ETHU has added over 305,000 ETH in exposure, exceeding the increase in CME ETH open interest during the same period, K33 noted.

K33指出，自4月8日以來，ETHU已增加了305,000 ETH的曝光率，超過了同一時期CME ETH開放利息的增加。

ETHU now represents 18.3% of the ETH held by all US spot ETFs and about two-thirds of CME’s ETH open interest. In comparison, BITX makes up only 4.3% of US spot Bitcoin ETF holdings.

ETHU現在代表了美國所有ETF持有的ETH的18.3％，以及CME ETH開放興趣的三分之二。相比之下，BITX僅占美國比特幣ETF持有量的4.3％。

The sharp rise in ETHU positions suggests heightened demand for leveraged Ethereum exposure, even as similar activity is absent from the Bitcoin space. Lunde interpreted this as a signal of traders positioning for upward movement in ETH, potentially ahead of policy developments or fundamental catalysts.

ETHU位置的急劇上升表明，即使比特幣空間中沒有類似的活動，對槓桿以太坊暴露的需求也會增加。倫德將其解釋為交易者定位ETH的向上運動的信號，可能在政策發展或基本催化劑之前。

The post Bitcoin Faces Crucial Hurdle As Key Indicator Hints At A Potential Breakout appeared first on Benzinga.

作為關鍵指標暗示，比特幣後，比特幣面臨著重要的障礙。