比特币（BTC）期货激增，现场下降 - 二元数据信号需要谨慎

在过去的几周中，比特币表现出强大的看涨势头，突破了几个阻力水平，以重新获得六位数的估值，并创造了新的历史最高水平。

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Over the past few weeks, Bitcoin has displayed strong bullish momentum, breaking through several resistance levels to reclaim six-figure valuation and forge a new all-time high.

在过去的几周中，比特币表现出强大的看涨势头，突破了几个阻力水平，以重新获得六位数的估值，并创造了新的历史最高水平。

After breaching its previous all-time-high price, the premier cryptocurrency has rekindled positive sentiments regarding its growth across the cryptocurrency market. As BTC continues to grow, however, recent on-chain data suggests that investors may need to check their optimism and approach the market with caution.

在违反了以前的最高价格之后，总理加密货币对其在加密货币市场的增长重新点燃了积极的情绪。但是，随着BTC的不断增长，最近的链上数据表明，投资者可能需要谨慎地检查其乐观情绪并逐渐接近市场。

Futures Surge, Spot Falls — Binance Data Signals Need For Caution

期货激增，现场跌倒 - 二手数据信号需要谨慎

In a May 24 post on social media platform X, on-chain analyst Darkfost reported that trader activity in the Bitcoin futures market on Binance has slightly increased since May 5, while the spot market activity has dwindled considerably.

在5月24日的社交媒体平台X上的一篇文章中，链链分析师Darkfost报告说，自5月5日以来，比特币期货市场的交易者活动略有增加，而现货市场活动却大大减少。

This on-chain observation is based on two metrics: the Daily Binance Future Trade Volume and the Trading Volume on Futures and Spot. As their names suggest, these metrics track the trading volume across various markets on the world’s largest exchange.

这种链上的观察基于两个指标：每日二人未来的贸易量以及期货和现货的交易量。顾名思义，这些指标跟踪了世界上最大的交易所各个市场的交易量。

When the Future Trading Volume metric has a high value, it typically suggests a growing appetite for short-term bets on BTC. On the other hand, a low value implies less willingness of futures traders to bet on Bitcoin’s movement in the short term.

当未来的交易量指标具有较高的价值时，通常表明对BTC短期赌注的需求不断增长。另一方面，低价值意味着未来交易者在短期内押注比特币运动的意愿较少。

For the spot market, a high value on the metric mirrors investors’ inclination towards long-term bets on Bitcoin. Meanwhile, a low value often indicates that investors suggest reduced faith in the long-term promise of the flagship cryptocurrency.

对于现货市场，公制的高价值反映了投资者对比特币长期赌注的倾向。同时，低价值通常表明投资者暗示对旗舰加密货币的长期承诺的信念减少。

According to data shared by Darkfost, the increase in futures activity, combined with the decrease in spot market activity, has created an imbalance in market dynamics. This current imbalance hints at a rise in speculative trading, meaning investors are now more motivated by risk-on sentiment, rather than long-term belief in the cryptocurrency.

根据DarkFost共享的数据，期货活动的增加以及现货市场活动的减少，在市场动态上造成了不平衡。当前的不平衡暗示投机性交易的增加，这意味着投资者现在更具风险性情绪的动机，而不是对加密货币的长期信念。

According to the analyst, this inclination to place bets on BTC’s short-term movement can heighten volatility, especially when these bets are not backed by strong spot demand to support the trend. “This increase in risk-taking on the market makes the trend more fragile and calls for heightened caution before making investment decisions,” Darkfost ended with a warning note.

根据分析师的说法，这种倾向于将BTC短期运动押注的倾向会提高波动性，尤其是当这些赌注不受强烈的点需求支持以支持趋势时。 Darkfost的警告说：“市场上冒险的增加使趋势更加脆弱，并在做出投资决策之前呼吁谨慎行事。”

Bitcoin Price At A Glance

比特币价格一目了然

As of this writing, the price of BTC stands at around $107,770, reflecting a 0.2% increase in the past 24 hours. According to data from CoinGecko, the flagship cryptocurrency is up by over 4% in the past seven days.

截至撰写本文时，BTC的价格约为107,770美元，反映了过去24小时的0.2％。根据Coingecko的数据，在过去的七天中，旗舰加密货币增加了4％以上。