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.

比特币刚刚突破 65,000 美元的水平。以下是导致该资产出现新的看涨势头的一个可能原因。

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

比特币最新突破进一步接近新高

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.

在连续几天在 62,000 美元大关附近盘整之后，比特币在过去一天终于出现了一些上涨趋势，不仅回到了早些时候的高点 64,000 美元，而且还突破了该水平，达到了 65,000 美元的水平。

相关阅读：比特币鲸鱼抛售，但价格仍维持在 62,000 美元以上

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

下图显示了加密货币在过去几天的表现：

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

看来过去一天该资产的价值大幅上涨 |来源：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.

比特币在 24 小时内的回报率超过 5%，是市场上表现最好的货币之一，在市值排名前 10 名的加密货币中，只有卡尔达诺 (ADA) 和狗狗币 (DOGE) 的表现优于比特币。

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.

经过这次反弹，比特币现已回到 2021 年 4 月的最高点，距离 2021 年 11 月创下的 69,000 美元历史高点仅上涨 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.

现在，投资者必然会想到的一个问题是：是什么推动了这一资产的最新飙升？当然，造成这样的反弹总是有多种原因，但其中一个主要因素是机构购买压力。

BTC Coinbase Premium Gap Has Been Positive Recently

BTC Coinbase 溢价差距近期呈正值

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 荷兰社区经理 Maartunn 在 X 上的一篇文章中所解释的那样，BTC Coinbase 溢价差距在整个周末仍然保持正值。

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 溢价差距”是一个跟踪 Coinbase（美元对）和 Binance（USDT 对）上列出的比特币价格之间差异的指标。该指标的值可以告诉我们两个平台上购买（或出售）行为之间的差异。

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

下图显示了该指标在周末的情况：

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

看起来该指标最近非常积极 |来源：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.

从图中可以明显看出，比特币 Coinbase 溢价缺口在 2 月最后几天转为正值，并在本月初保持这种情况。正值表明 Coinbase 上列出的 BTC 价格高于 Binance 上的价格。

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.

众所周知，前者是美国机构实体的首选平台，而后者则承载全球流量。这意味着正溢价可能表明来自美国鲸鱼的购买压力更大。

相关阅读：比特币已实现上限创下历史新高，下一步价格如何？

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.

从图表中可以看出，Coinbase 溢价的高企与 BTC 上月底首次飙升至 60,000 美元以上同时发生，这意味着这些机构投资者发挥了作用。

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.

本周末该指标也出现了高值，这可能是比特币最近一次反弹的原因。鉴于这种模式，Coinbase 溢价缺口可能在未来几天值得关注，因为美国大型交易员继续买入可能表明 BTC 已准备好走高。

精选图片来自 Shutterstock.com、CryptoQuant.com，图表来自 TradingView.com