On-Chain Data Shows Declining Demand for Long Positions in Cryptocurrency Market

鏈上數據顯示，對加密貨幣市場的長位置的需求下降

[Image via U.Today]

[圖片來自今日美國]

According to on-chain analytics platform Glassnode, hourly funding rates for the top five cryptocurrencies (Bitcoin, Ethereum, Solana, XRP, and Dogecoin) indicate a lack of appetite for long positions comparable to the November-December rally. This suggests a subdued demand in the market.

根據鏈上分析平台Glassnode 的數據，前五名加密貨幣（比特幣、以太坊、Solana、XRP 和狗狗幣）的每小時資金費率表明，與11 月至12 月的反彈相比，多頭部位缺乏興趣。這顯示市場需求疲軟。

Funding rates reflect market sentiment, with elevated levels implying bullishness and expectations of price increases. Conversely, low rates often indicate bearish sentiments and expectations of price declines.

融資利率反映了市場情緒，較高的水平意味著看漲和價格上漲的預期。相反，低利率通常表示看跌情緒和價格下跌的預期。

Glassnode observed that based on the 168-hour moving average of funding rates, most assets, including Bitcoin, showed positive momentum early last week. However, Solana's funding rate has been declining since December.

Glassnode觀察到，從資金費率168小時移動平均線來看，包括比特幣在內的大多數資產上周初都呈現出積極的勢頭。然而，Solana 的融資利率自 12 月以來一直在下降。

The cautious stance among traders suggests the market may remain range-bound or experience moderate pullbacks in the coming days.

交易員的謹慎立場表明，未來幾天市場可能會保持區間波動或經歷溫和回檔。

Market Outlook

市場展望

The cryptocurrency market faces a pivotal week as investors anticipate the Federal Reserve's meeting and key inflation data releases.

由於投資者預期聯準會會議和關鍵通膨數據發布，加密貨幣市場面臨關鍵的一周。

The Fed's monetary policy decision on Wednesday and inflation data on Friday are expected to impact market sentiment. The market is currently under selling pressure as investors lock in profits ahead of these events.

美聯儲在周三的貨幣政策決定，預計週五的通貨膨脹數據將影響市場情緒。由於投資者在這些事件之前鎖定利潤，市場目前正處於銷售壓力。

At the time of writing, Bitcoin was down 3.83% in the past 24 hours, dipping to $97,715 during today's session. Solana, Dogecoin, Ethereum, and XRP had similar declines, with losses ranging from 6% to 10%.

截至撰寫本文時，比特幣在過去 24 小時內下跌 3.83%，今日跌至 97,715 美元。 Solana、狗狗幣、以太坊和 XRP 也出現了類似的下跌，跌幅在 6% 到 10% 之間。