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

链上数据显示，对加密货币市场的长位置的需求下降

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[图片来自今日美国]

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.

根据链分析平台玻璃节的数据，前五名加密货币（比特币，以太坊，Solana，XRP和Dogecoin）的每小时融资率表明缺乏与11月12日集会相当的长位置的胃口。这表明市场需求柔和。

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.

资金率反映了市场的情绪，其水平升高意味着看涨和对价格上涨的期望。相反，低利率通常表明看跌的情绪和价格下降的期望。

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观察到，从资金费率168小时移动平均线来看，包括比特币在内的大多数资产上周初都呈现出积极的势头。然而，Solana 的融资利率自 12 月以来一直在下降。

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

交易员的谨慎立场表明，未来几天市场可能会保持区间波动或经历温和回调。

Market Outlook

市场展望

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

由于投资者预计美联储的会议和关键通货膨胀数据发布，加密货币市场面临着关键的一周。

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.

美联储周三的货币政策决定和周五的通胀数据预计将影响市场情绪。由于投资者在这些事件发生之前锁定利润，市场目前面临抛售压力。

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%.

截至撰写本文时，比特币在过去 24 小时内下跌 3.83%，今日跌至 97,715 美元。 Solana、狗狗币、以太坊和 XRP 也出现了类似的下跌，跌幅在 6% 到 10% 之间。