Bitcoin has just broken above the $65,000 level. Here’s a possible reason that may be contributing to this fresh bullish momentum in the asset.

比特幣剛剛突破 65,000 美元的水平。以下是導致該資產出現新的看漲勢頭的一個可能原因。

Bitcoin Has Edged Further Closer To A New High With Its Latest Break

比特幣最新突破進一步接近新高

After consolidating near the $62,000 mark for a few days, Bitcoin has finally witnessed some uptrend in the past day, as it has not only returned back to the earlier high of $64,000, but also smashed past it to claim the $65,000 level.

在連續幾天在62,000 美元大關附近盤整之後，比特幣在過去一天終於出現了一些上漲趨勢，不僅回到了早些時候的高點64,000 美元，而且還突破了該水平，達到了65,000 美元的水平。

相關閱讀：比特幣鯨魚拋售，但價格仍維持在 62,000 美元以上

The chart below reveals how cryptocurrency has performed in the last few days:

下圖顯示了加密貨幣在過去幾天的表現：

Looks like the value of the asset has been sharply going up in the past day | Source: BTCUSD on TradingView

看來過去一天該資產的價值大幅上漲 |來源：TradingView 上的 BTCUSD

With its returns of more than 5% inside the 24 hours, Bitcoin is among the best performers in the market, with only Cardano (ADA) and Dogecoin (DOGE) outperforming it inside the top 10 coins by market cap list.

比特幣在24 小時內的回報率超過5%，是市場上表現最好的貨幣之一，在市值排名前10 名的加密貨幣中，只有卡爾達諾(ADA) 和狗狗幣(DOGE) 的表現優於比特幣。

Following this rally, BTC has now arrived back at the top observed in April 2021 and is now only a 6% rise away from hitting the $69,000 all-time high set in November 2021.

經過這次反彈，比特幣現已回到 2021 年 4 月的最高點，距離 2021 年 11 月創下的 69,000 美元歷史高點僅上漲 6%。

Now, one question that’s bound to be on the minds of investors would be: what’s driving this latest surge in the asset? Naturally, there are always several reasons factoring into a rally like this, but a major one would be institutional buying pressure.

現在，投資人必然會想到的一個問題是：是什麼推動了這項資產的最新飆升？當然，造成這樣的反彈總是有多種原因，但其中一個主要因素是機構購買壓力。

BTC Coinbase Premium Gap Has Been Positive Recently

BTC Coinbase 溢價差距近期呈正值

As explained by CryptoQuant Netherlands community manager Maartunn in a post on X, the BTC Coinbase Premium Gap remained positive through the weekend.

正如 CryptoQuant 荷蘭社群經理 Maartunn 在 X 上的一篇文章中所解釋的那樣，BTC Coinbase 溢價差距在整個週末仍然保持正值。

The “Coinbase Premium Gap” is an indicator that keeps track of the difference between the Bitcoin prices listed on Coinbase (USD pair) and Binance (USDT pair). This metric’s value can tell us about the difference between the buying (or selling) behaviors on the two platforms.

「Coinbase 溢價差距」是一個追蹤 Coinbase（美元對）和 Binance（USDT 對）上列出的比特幣價格之間差異的指標。該指標的值可以告訴我們兩個平台上購買（或出售）行為之間的差異。

The below chart shows what the indicator looked like over the weekend:

下圖顯示了該指標在周末的情況：

Looks like the indicator has been notably positive recently | Source: @JA_Maartun on X

看起來該指標最近非常積極 |來源：X 上的@JA_Maartun

From the graph, it’s apparent that the Bitcoin Coinbase Premium Gap had turned positive in the last few days of February and remained so in the starting days of this month. Positive values suggest that the BTC price listed on Coinbase has been higher than that on Binance.

從圖中可以明顯看出，比特幣 Coinbase 溢價缺口在 2 月最後幾天轉為正值，並在本月初保持這種情況。正值表示 Coinbase 上列出的 BTC 價格高於 Binance 上的價格。

The former exchange is known to be the preferred platform of the US-based institutional entities, while the latter hosts global traffic. This would mean that a positive premium can suggest a stronger buying pressure from the American whales.

眾所周知，前者是美國機構實體的首選平台，而後者則承載全球流量。這意味著正溢價可能表明來自美國鯨魚的購買壓力更大。

相關閱讀：比特幣已實現上限創下歷史新高，下一步價格如何？

It’s visible in the chart that the high Coinbase Premium coincided with BTC’s initial surge above $60,000 at the end of last month, implying that these institutional investors played a role.

從圖表中可以看出，Coinbase 溢價的高企與 BTC 上月底首次飆升至 60,000 美元以上同時發生，這意味著這些機構投資者發揮了作用。

This weekend also saw high values of the indicator, which may be the reason why Bitcoin has seen its latest rally. Given the pattern, the Coinbase Premium Gap could be to keep an eye on in the coming days, as the large American traders continuing to buy could be a sign that BTC is ready to go higher.

本週末該指標也出現了高值，這可能是比特幣最近反彈的原因。鑑於這種模式，Coinbase 溢價缺口可能在未來幾天值得關注，因為美國大型交易員繼續買入可能表明 BTC 準備好走高。

精選圖片來自 Shutterstock.com、CryptoQuant.com，圖表來自 TradingView.com