与以前的冲浪相比

当前的比特币集会在4月初开始接近74,508美元，现在已将价格推高了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.

目前的比特币集会在4月初开始接近74,508美元，现在已经将价格推高了100,000美元，与以前的潮流相比，其稳定性脱颖而出。最近的链上和市场数据表明，加密货币上升，没有早期牛周期中过热的迹象。这种趋势引起了分析师的注意，监测价格变动，期货融资率和市场购买量之间的关系。

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.

在比特币的最后一个公牛阶段中，二手资金的筹资速率和市场购买量的增加与新的历史最高高点相吻合，然后进行了明显的校正。随着期货市场过于依赖杠杆率，看涨情绪的急剧增加导致了稳定的快速稳定。但是，最近的集会尚未显示出资金率的重大变化，并且在最近的加密调查结果中观察到了Binance的买入量下降。这表明市场交易是谨慎的，积累是稳定的，但是仍然可以观察到短期投机。

Stable Funding Rates and Steady Buying Indicate Strength

稳定的资金率和稳定的购买表明强度

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.

加密分析师提供的数据强调，比特币的当前价格变动没有显示出与以前的集会相同的过热标志。分析师强调，尽管缺乏积极的杠杆作用，但购买活动的筹资速度并没有突然的峰值。

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.

尽管有短期波动，但自2023年以来，市场购买量增长，反映了投资者情绪的实力。长期持有人也为这一趋势做出了重大贡献。最近的链上数据表明，即使比特币交易接近1月以前的108,786美元，这些新投资者并没有增加销售压力。

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.

随着加密货币持有的不断增长，这表明那些拥有最大数量的人对价格上涨的信念。这种行为降低了突然的供应冲击的可能性，但为当前市场增加了一层韧性。

Outlook for Bitcoin Price and Market Sentiment

比特币价格和市场情绪的前景

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.

分析师对下一个比特币是否有史以来高高持续谨慎。此外，稳定的资金，长期持有人的所有权不断增长以及定期购买量表明前景积极。最新统计数据显示，比特币的价值为104,393美元，比前一天增长1.9％。市场仍处于缓慢而稳定的发展，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的分析师指出，目前的反弹“表明市场的购买情绪仍然有利于进一步增加，这表明现在不是考虑退出的时候了。”尽管短期波动率可能会持续存在，但缺乏过热的市场状况为未来几周内可能更健康的牛市奠定了基础。

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