比特幣價格突破 71,000 美元：漲勢會持續嗎？

在 3 月價格飆升至 73,800 美元後，該代幣一直在橫向盤整，甚至在 5 月令人擔憂地跌至 56,500 美元。

Bitcoin price has soared to above $71,000. After consolidating for two months, the coin appears to be preparing for a breakout. However, a closer look at exchange activity reveals a potential cause for concern: There is a lack of bullish conviction in the Bitcoin futures market.

比特幣價格已飆升至 71,000 美元以上。經過兩個月的盤整後，該代幣似乎正在為突破做準備。然而，仔細觀察交易活動就會發現一個潛在的擔憂原因：比特幣期貨市場缺乏看漲信念。

One analyst examines the perpetual funding rate, a key indicator of sentiment among futures traders, and notes that it is uncharacteristically low despite rising prices.

一位分析師研究了永續融資利率（期貨交易者情緒的關鍵指標），並指出，儘管價格上漲，但永續融資利率卻異常低。

While currently positive, the funding rate falls significantly short of levels seen in the last leg up to January 2024 when spot Bitcoin ETFs were approved. It is also way lower than when BTC rose to all-time highs in March 2024.

雖然目前為正值，但融資利率遠低於 2024 年 1 月現貨比特幣 ETF 核准之前的水平。它也遠低於 2024 年 3 月 BTC 升至歷史高點時的水平。

All Eyes On The Bitcoin Funding Rate

所有人都關注比特幣融資利率

The funding rate is a crucial concept on platforms like Binance or Bybit, which allow the trading of BTC perpetual futures.

在幣安或 Bybit 等允許進行 BTC 永續期貨交易的平台上，資金費率是一個至關重要的概念。

It is a payment reset every eight hours and exchanged between long (bullish) and short (bearish) positions in a perpetual futures contract.

這是每八小時重置一次付款，並在永續期貨合約的多頭（看漲）和空頭（看跌）頭寸之間進行交換。

The price differential between the perpetual Bitcoin futures price (an index) and the spot rate determines whether the funding rate will be positive or negative.

比特幣永續期貨價格（指數）與現貨價格之間的價差決定了資金費率是正還是負。

When positive, it means the perpetual BTC futures price is higher than the spot rate.

當為正數時，表示永續BTC期貨價格高於現貨價格。

In this event, as is currently the situation, leveraged traders initiating long positions have to pay a fee to sellers. In essence, bulls are paying a premium, anticipating more price gains.

在這種情況下，正如目前的情況一樣，發起多頭部位的槓桿交易者必須向賣家支付費用。從本質上講，多頭正在支付溢價，預計價格將進一步上漲。

The higher the positive reading of the funding rate, the more bullish the crowd is.

資金利率的正面讀數越高，人群就越看多。

Bitcoin Price At Key Resistance: Will This Breakout Fail?

比特幣價格處於關鍵阻力位：這次突破會失敗嗎？

After prices soared to $73,800 in March, the coin has been consolidating horizontally and even worryingly dipping to as low as $56,500 in May.

在 3 月價格飆升至 73,800 美元後，該代幣一直在橫向盤整，甚至在 5 月令人擔憂地跌至 56,500 美元。

Millions of dollars’ worth of leveraged longs were liquidated in the process. However, in early June, things are looking up for Bitcoin.

在此過程中，價值數百萬美元的槓桿多頭被清算。然而，到了六月初，比特幣的情況正在好轉。

Earlier today, the coin broke $71,000 and looks likely to break a key liquidation level at $72,000.

今天早些時候，該代幣突破了 71,000 美元，看起來很可能會突破 72,000 美元的關鍵清算水平。

(BTCUSDT)

(比特幣/USDT)

However, not everyone is convinced that this rally will last. A closer look at exchange activity reveals a potential cause for concern: There is a lack of bullish conviction in the Bitcoin futures market.

然而，並非所有人都相信這次反彈會持續下去。仔細觀察交易活動就會發現一個潛在的擔憂原因：比特幣期貨市場缺乏看漲信念。

One analyst examines the perpetual funding rate, a key indicator of sentiment among futures traders, and notes that it is uncharacteristically low despite rising prices.

一位分析師研究了永續融資利率（期貨交易者情緒的關鍵指標），並指出，儘管價格上漲，但永續融資利率卻異常低。

While currently positive, the funding rate falls significantly short of levels seen in the last leg up to January 2024 when spot Bitcoin ETFs were approved. It is also way lower than when BTC rose to all-time highs in March 2024.

雖然目前為正值，但融資利率遠低於 2024 年 1 月現貨比特幣 ETF 核准之前的水平。它也遠低於 2024 年 3 月 BTC 升至歷史高點時的水平。

Bitcoin Price At Key Resistance: Will This Breakout Fail?

比特幣價格處於關鍵阻力位：這次突破會失敗嗎？

After prices soared to $73,800 in March, the coin has been consolidating horizontally and even worryingly dipping to as low as $56,500 in May.

在 3 月價格飆升至 73,800 美元後，該代幣一直在橫向盤整，甚至在 5 月令人擔憂地跌至 56,500 美元。

Millions of dollars’ worth of leveraged longs were liquidated in the process. However, in early June, things are looking up for Bitcoin.

在此過程中，價值數百萬美元的槓桿多頭被清算。然而，到了六月初，比特幣的情況正在好轉。

Earlier today, the coin broke $71,000 and looks likely to break a key liquidation level at $72,000.

今天早些時候，該代幣突破了 71,000 美元，看起來很可能會突破 72,000 美元的關鍵清算水平。

(BTCUSDT)

(比特幣/USDT)

However, not everyone is convinced that this rally will last. A closer look at exchange activity reveals a potential cause for concern: There is a lack of bullish conviction in the Bitcoin futures market.

然而，並非所有人都相信這次反彈會持續下去。仔細觀察交易活動就會發現一個潛在的擔憂原因：比特幣期貨市場缺乏看漲信念。

One analyst examines the perpetual funding rate, a key indicator of sentiment among futures traders, and notes that it is uncharacteristically low despite rising prices.

一位分析師研究了永續融資利率（期貨交易者情緒的關鍵指標），並指出，儘管價格上漲，但永續融資利率卻異常低。