資金費率和持倉量暗示市場悲觀，BNB面臨下行趨勢

負資金利率和幣安幣（BNB）期貨合約持股下降顯示交易者的悲觀情緒日益增長。負資金利率表明更多交易者正在持有空頭頭寸，而未平倉合約的下降表明交易者正在平倉而不開立新頭寸。 MACD和DMI等技術指標也顯示BNB價格有短期下跌的可能性。

Binance Coin Faces Bearish Outlook as Funding Rate and Open Interest Signal Market Pessimism

融資利率和持倉量顯示市場悲觀，幣安幣前景看跌

Negative Funding Rate Indicates Short-Selling Dominance

負資金費率顯示賣空占主導地位

The sentiment surrounding Binance Coin (BNB) has deteriorated, with key market indicators pointing towards a potential price decline. One significant indicator is the negative funding rate for BNB futures contracts. A negative funding rate implies that more traders are holding short positions, anticipating a decrease in the asset's price. On April 1st, BNB's funding rate plunged into negative territory at -0.012%, mirroring this sentiment.

圍繞幣安幣（BNB）的情緒已經惡化，主要市場指標顯示價格可能下跌。一項重要指標是 BNB 期貨合約的負融資利率。負資金利率意味著更多交易者持有空頭部位，預計資產價格會下跌。 4 月 1 日，BNB 的融資利率跌至負值 -0.012%，反映了這種情緒。

Declining Open Interest Suggests Traders Exit Positions

未平倉合約下降表示交易者平倉

Further adding to the bearish narrative is the decline in open interest for BNB futures contracts. Open interest measures the total number of outstanding futures contracts that have not yet been settled. A decrease in open interest indicates that traders are closing their positions without opening new ones, potentially signaling dwindling confidence in the market.

BNB 期貨合約未平倉合約的下降進一步加劇了悲觀情緒。未平倉合約衡量的是尚未結算的未平倉期貨合約總數。未平倉合約減少表示交易者正在平倉而不開立新倉，這可能表示市場信心下降。

Understanding Funding Rates in Perpetual Futures

了解永續合約的資金費率

Funding rates play a crucial role in perpetual futures contracts by aligning the contract price with the spot price. When the contract price trades higher than the spot price, long position holders pay a fee to shorts, resulting in positive funding rates. Conversely, negative funding rates arise when the contract price falls below the spot price, indicating that short sellers are currently paying fees to longs.

資金費率透過使合約價格與現貨價格保持一致，在永續期貨合約中發揮著至關重要的作用。當合約價格高於現貨價格時，多頭部位持有者向空頭支付費用，從而產生正的資金費率。相反，當合約價格低於現貨價格時，就會出現負資金利率，表示空頭目前正在向多頭支付費用。

Traders Close Positions as Negative Sentiment Grows

隨著負面情緒的增長，交易者平倉

Amidst the growing negative sentiment, open interest is expected to fall further. This would suggest that more traders are exiting their positions and not initiating new ones, hinting at a possible price drop for BNB.

在負面情緒不斷加劇的情況下，未平倉合約預計將進一步下降。這表明更多的交易者正在退出其頭寸，而不是開始新的頭寸，暗示 BNB 的價格可能會下跌。

Technical Indicators Reinforce Bearish Sentiment

技術指標強化看跌情緒

The bearish sentiment is not limited to the futures market. The Moving Average Convergence Divergence (MACD), a widely used technical indicator, is also suggesting a resurgence in selling pressure. There is an indication that the MACD line may cross below the signal line, which is typically interpreted as a bearish signal, indicating the return of sellers to the market. Notably, the MACD lines for BNB have been positioned for a downtrend since March 18th.

看跌情緒不僅限於期貨市場。廣泛使用的技術指標移動平均趨同分歧（MACD）也顯示拋售壓力再次出現。有跡象表明，MACD 線可能會穿過信號線，這通常被解釋為看跌信號，表明賣家重返市場。值得注意的是，自 3 月 18 日以來，BNB 的 MACD 線一直處於下降趨勢。

Potential Price Retreat for BNB

BNB 的潛在價格回落

Combining the analysis of the futures market and technical indicators, there is a likelihood of a short-term decline in BNB's price. However, it is crucial to acknowledge that market sentiment can shift rapidly, and technical indicators are not infallible predictors of future price movements.

結合期貨市場和技術指標分析，BNB價格有短期下跌的可能性。然而，重要的是要認識到市場情緒可能會迅速變化，而技術指標並不是未來價格趨勢的可靠預測指標。

Technical Indicators Highlight Bearish Momentum

技術指標凸顯看跌勢頭

At the time of writing, BNB was trading at $587, showing a 6% increase over the previous 24 hours, according to data from CoinMarketCap. Nevertheless, a closer examination of BNB's technical indicators on the 24-hour chart reveals an additional concerning trend.

根據 CoinMarketCap 的數據，截至撰寫本文時，BNB 交易價格為 587 美元，較前 24 小時上漲 6%。然而，仔細檢查 BNB 24 小時圖表上的技術指標，會發現另一個令人擔憂的趨勢。

The Directional Movement Index (DMI), utilized to assess trend strength, has displayed a bearish crossover. This crossover occurs when the negative directional index rises above the positive directional index, suggesting that bearish momentum is currently dominating the market.

用於評估趨勢強度的方向運動指數（DMI）顯示出看跌交叉。當負向指數上升至正向指數上方時，就會發生這種交叉，顯示看跌勢頭目前主導市場。

Analysts often interpret this particular crossover as a strong signal, urging traders to consider closing long positions and opening short positions. This strategic move aligns with the prevailing trend indicated by the DMI, reinforcing the notion of a prevailing bearish sentiment within the market ecosystem.

分析師經常將這種特殊的交叉解讀為強烈訊號，敦促交易者考慮平掉多頭部位並開立空頭部位。這項策略舉措與 DMI 所顯示的普遍趨勢一致，強化了市場生態系統中普遍存在的看跌情緒的概念。

Conclusion

結論

The confluence of negative funding rates, declining open interest, and bearish technical indicators suggests a potential price decline for BNB in the short term. While market sentiment can change swiftly, traders should exercise caution and consider these signals when making investment decisions.

負資金利率、未平倉合約下降和看跌技術指標的綜合作用表明，BNB 短期內價格可能下跌。儘管市場情緒可能迅速變化，但交易者在做出投資決策時應謹慎行事並考慮這些訊號。