比特币价格突破 71,000 美元：涨势会持续吗？

在 3 月份价格飙升至 73,800 美元后，该代币一直在横向盘整，甚至在 5 月份令人担忧地跌至 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.

比特币价格已飙升至 71,000 美元以上。经过两个月的盘整后，该代币似乎正在为突破做准备。然而，仔细观察交易活动就会发现一个潜在的担忧原因：比特币期货市场缺乏看涨信念。

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.

一位分析师研究了永续融资利率（期货交易者情绪的关键指标），并指出，尽管价格上涨，但永续融资利率却异常低。

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.

虽然目前为正值，但融资利率远低于 2024 年 1 月现货比特币 ETF 获批之前的水平。它也远低于 2024 年 3 月 BTC 升至历史高位时的水平。

All Eyes On The Bitcoin Funding Rate

所有人都关注比特币融资利率

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

在币安或 Bybit 等允许进行 BTC 永续期货交易的平台上，资金费率是一个至关重要的概念。

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

这是每八小时重置一次付款，并在永续期货合约的多头（看涨）和空头（看跌）头寸之间进行交换。

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.

比特币永续期货价格（指数）与现货价格之间的价差决定了资金费率是正还是负。

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

当为正数时，意味着永续BTC期货价格高于现货价格。

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.

在这种情况下，正如目前的情况一样，发起多头头寸的杠杆交易者必须向卖家支付费用。从本质上讲，多头正在支付溢价，预计价格会进一步上涨。

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

资金利率的正面读数越高，人群就越看多。

Bitcoin Price At Key Resistance: Will This Breakout Fail?

比特币价格处于关键阻力位：这次突破会失败吗？

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 月份价格飙升至 73,800 美元后，该代币一直在横向盘整，甚至在 5 月份令人担忧地跌至 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.

在此过程中，价值数百万美元的杠杆多头被清算。然而，到了六月初，比特币的情况正在好转。

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

今天早些时候，该代币突破了 71,000 美元，看起来很可能会突破 72,000 美元的关键清算水平。

(BTCUSDT)

(比特币/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，并非所有人都相信这次反弹会持续下去。仔细观察交易活动就会发现一个潜在的担忧原因：比特币期货市场缺乏看涨信念。

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.

一位分析师研究了永续融资利率（期货交易者情绪的关键指标），并指出，尽管价格上涨，但永续融资利率却异常低。

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.

虽然目前为正值，但融资利率远低于 2024 年 1 月现货比特币 ETF 获批之前的水平。它也远低于 2024 年 3 月 BTC 升至历史高位时的水平。

Bitcoin Price At Key Resistance: Will This Breakout Fail?

比特币价格处于关键阻力位：这次突破会失败吗？

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 月份价格飙升至 73,800 美元后，该代币一直在横向盘整，甚至在 5 月份令人担忧地跌至 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.

在此过程中，价值数百万美元的杠杆多头被清算。然而，到了六月初，比特币的情况正在好转。

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

今天早些时候，该代币突破了 71,000 美元，看起来很可能会突破 72,000 美元的关键清算水平。

(BTCUSDT)

(比特币/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，并非所有人都相信这次反弹会持续下去。仔细观察交易活动就会发现一个潜在的担忧原因：比特币期货市场缺乏看涨信念。

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.

一位分析师研究了永续融资利率（期货交易者情绪的关键指标），并指出，尽管价格上涨，但永续融资利率却异常低。