比特币（BTC）的恢复继续显示动力，当前资产交易

比特币的恢复继续表现出势头，在过去24小时内增长1.6％后，资产交易目前为94,288美元。

Bitcoin (BTC) price continues to recover, currently trading at $94,288 as the cryptocurrency gained 1.6% over the past 24 hours. The price has risen nearly 15% over the past two weeks, recovering from a correction phase and pushing BTC closer to retesting the $100,000 price mark.

比特币（BTC）的价格继续恢复，目前的交易价格为94,288美元，因为过去24小时内加密货币上涨了1.6％。在过去的两周中，价格上涨了近15％，从校正阶段恢复过来，并将BTC推到重新测试100,000美元的价格。

As Bitcoin’s recovery continues to show momentum, recent market analysis points to diverging signals between BTC’s funding rate behavior and growing confidence among US-based investors.

随着比特币的恢复继续展示动力，最近的市场分析指出，BTC的资金率行为与美国投资者的信心越来越大。

Bitcoin Funding Rates Dip Despite Price Increases

尽管价格上涨，比特币资金率下降

According to Nino, an analyst from CryptoQuant, the Bitcoin funding rate—typically used to gauge sentiment in the perpetual futures BTC market has again dipped into negative territory, even as whale accumulation continues on major exchanges like Binance and Coinbase.

尼诺（Nino）的说法，来自隐藏量的分析师是比特币融资率的分析师（通常用来衡量永久期货中的人的情感的人）再次跌入了负地区，即使鲸鱼在Binance和Coinbase等重大交流中仍在继续进行鲸鱼。

Nino particularly identified a notable development in Bitcoin’s derivatives market. The 72-hour average of BTC funding rates, including moving average indicators (MA, EMA, WMA), has entered negative territory for the fourth time this year.

Nino特别确定了比特币衍生品市场的显着发展。 BTC融资率的72小时平均水平，包括移动平均指标（MA，EMA，WMA），在今年的第四次进入负领土。

Funding rates refer to periodic payments made between long and short positions on perpetual futures contracts, with negative rates meaning short positions are paying long positions. This generally reflects that the market is either positioning defensively or becoming cautious at current price levels.

资金率是指永久性期货合约的长期和短职位之间的定期付款，负率为负的，这意味着短期职位正在支付较长的头寸。这通常反映出市场要么在防守上定位，要么在当前价格水平上变得谨慎。

What makes this instance notable is that previous dips into negative funding rates occurred at lower price levels, whereas the current shift has taken place above $94,000.

值得注意的是，以前的筹资率在较低的价格水平上发生，而当前的班次发生在94,000美元以上。

This may point to potential market exhaustion or a phase of profit-taking, where short traders are more active despite the price moving up. If volatility increases and funding rates remain suppressed, a spike in liquidations could follow, especially if open interest in leveraged positions expands rapidly.

这可能指出了潜在的市场疲惫或获利阶段，尽管价格上涨，但短交易者仍然更加活跃。如果波动率增加并抑制了资金率，则可以随后清算的峰值，特别是如果对杠杆位置的开放兴趣迅速扩大。

Coinbase Premium And Whale Behavior Shows US Investor Activity

Coinbase Premium和Whale行为表明美国投资者活动

In a separate analysis, CryptoQuant analyst Crypto Dan noted a trend reversal beginning around April 21, accompanied by renewed buying from large holders, or “whales.” Notably, these purchases were first identified on Binance and were soon followed by similar activity on Coinbase.

在另一项分析中，加密分析师Crypto Dan指出了4月21日左右的趋势逆转，并伴随着从大型持有人或“鲸鱼”购买。值得注意的是，这些购买首先是在Binance上识别的，很快就在Coinbase上进行了类似的活动。

This pattern may indicate rising confidence among US-based investors and greater participation from institutions or high-net-worth individuals.

这种模式可能表明在美国的投资者之间的信心上升，以及机构或高净值个人的更多参与。

One supporting metric is the Coinbase premium, which tracks the price difference between BTC on Coinbase and other global exchanges. A positive premium typically reflects stronger demand from US investors.

一个支持度量的是Coinbase Premium，它跟踪Coinbase和其他全球交易所BTC之间的价格差异。积极的溢价通常反映了美国投资者的强劲需求。

As of now, this premium remains in positive territory, suggesting that US market participants are contributing to BTC’s recent momentum. Dan concludes that the current phase may signal more than a typical price rebound and could represent a broader shift in market structure, driven by renewed capital inflows and institutional positioning.

截至目前，这种溢价仍处于积极的领域，这表明美国市场参与者正在为BTC最近的势头做出贡献。丹得出的结论是，当前阶段的信号可能不仅仅是典型的价格反弹，并且可能代表了在资本流入和机构定位的驱动下，市场结构的更大变化。