比特幣對利用的渴望淡出的需求

自2月初以來，比特幣一直面臨著波動和銷售壓力，隨著看跌價格行動佔領市場，拖延了山寨幣和模因硬幣。

Bitcoin’s price action has faced volatility and selling pressure since the start of February, dragging down altcoins and meme coins as bearish price action takes over the market.

自2月初以來，比特幣的價格行動已經面臨著波動和銷售壓力，隨著看跌價格動作佔領了市場，拖延了山寨幣和模因硬幣。

After hitting a new all-time high of $97,857 on Feb. 2, BTC faced strong selling pressure at key supply zones, leading to a downturn in the price. The market structure has shifted, and bulls are showing signs of exhaustion, prompting analysts to call for a broader correction.

在2月2日達到了新的97,857美元的新歷史高點之後，BTC面臨著巨大的銷售壓力，在鑰匙供應區域，導致價格下降。市場結構發生了變化，公牛表現出疲憊的跡象，促使分析師要求進行更廣泛的糾正。

Bitcoin price faces selling pressure at key supply zones. Source: Material Indicators

比特幣價格面對關鍵供應區的銷售壓力。來源：材料指標

According to data from Material Indicators, the 7-day average funding rate has been in a steady decline since late January, now sitting at 0.004% — a staggering 85% drop from its December peak of 0.026%.

根據物質指標的數據，自1月下旬以來，7天的平均籌資率一直在穩步下降，現在為0.004％，從12月的峰值0.026％降低了85％。

This sharp decrease in funding rates signals that demand for leveraged long positions is fading, and speculative appetite in the market is weakening. Without renewed leverage from traders, Bitcoin’s price action is likely to remain choppy or even turn more corrective in the coming weeks.

資金率信號的這種急劇下降的信號是對長期槓桿的需求正在消失，而市場中的投機性食慾正在削弱。如果沒有交易者的更新槓桿，比特幣的價格行動可能會在接下來的幾週內保持穩定，甚至更糾正。

The 7-day average funding rate has seen a steep decline. Source: Glassnode

7天的平均資金率急劇下降。來源：玻璃節

As highlighted by Material Indicators, the key levels to watch for support are the $96,000 and $89,000 price points, which could provide an opportunity for the market to stabilize and prepare for the next leg higher.

正如物質指標所強調的那樣，要注意支持的關鍵水平是96,000美元和89,000美元的價格點，這可以為市場提供穩定和準備下一條腿更高的機會。

However, if Bitcoin fails to find support at these levels, a broader market correction could unfold, leading to further declines in the cryptocurrency market.

但是，如果比特幣無法在這些水平上找到支持，則可以進行更廣泛的市場校正，從而導致加密貨幣市場進一步下降。