尽管有反弹，但比特币（BTC）恢复了基础

由于短暂的政治争议引起了上周的下降，比特币恢复了基础，恢复了约11万美元。

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.

周一，比特币价格在上周下降后试图稳定，这是由于短暂的政治争议引起的，并为潜在的腿部提高了潜在的腿部，因此在周一恢复了一些失败的立场。

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.

许多贸易商仍然犹豫，即使比特币在其历史最高高点的2％左右的交易额约为110,000美元左右。在关键市场指标中明显看出，“难以置信”的持续气氛很明显，参与者选择在宏观经济数据发布之前进行避免风险的定位。

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的最新报告强调了衍生品市场缺乏看涨信念，这在负资金率和平坦的杠杆流入方面很明显。这些条件表明，集会可能是由潜在的需求驱动的，而不是投机性的冲动。

Bitcoin Funding Data Reflects Conservative Positioning

比特币资金数据反映了保守的定位

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.

根据K33研究兽医Lunde的说法，Binance的BTC/USDT永久合同在周五和周日的每日筹资率负数，而每周的资金平均水平仅为1.3％，在过去两年半的时间里，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.

在这种情况下，交易者通常会付费以保持短缺，反映出尽管价格回收，但仍有盛行的看跌偏见。伦德指出，这种看跌的情绪可以充当未来突破的燃料。

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，波动率的数据共享2倍利用的长比特币ETF（NYSE：BITX）增加了谨慎的叙述。该基金仅持有52,435 BTC的暴露量，明显低于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.

与2024年3月和2024年11月的以前的集会不同，最近一个月进入BITX的流入仍然很平坦，这表明交易者通过杠杆作用避免了积极的看涨暴露。

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

如果情绪翻转，这种防御性设置可能会导致意外的激增。

Ethereum Derivatives See Leverage Spike As ETF Flows Climb

以太坊衍生品请参见杠杆峰值，因为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.

尽管比特币在杠杆方面仍然柔和，但以太坊市场目睹了投机活动的增加。波动率分享了2倍杠杆以太坊ETF（BSE：ETHU）引起了极大的关注，成为ETH衍生品空间中的主要参与者。

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日以来，ETHU已增加了305,000 ETH的曝光率，超过了同一时期CME ETH开放利息的增加。

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现在代表了美国所有ETF持有的ETH的18.3％，以及CME ETH开放兴趣的三分之二。相比之下，BITX仅占美国比特币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位置的急剧上升表明，即使比特币空间中没有类似的活动，对杠杆以太坊暴露的需求也会增加。伦德将其解释为交易者定位ETH的向上运动的信号，可能在政策发展或基本催化剂之前。

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

作为关键指标暗示，比特币后，比特币面临着重要的障碍。