在比特幣，以太坊和索拉納期貨上看到的不同趨勢

來自GlassNode的數據表明，比特幣的期貨量與以太坊和Solana的期貨量有所不同。

According to on-chain analytics platform Glassnode, the futures volume of top cryptocurrencies, Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) show diverging trends.

根據鏈分析平台玻璃節的說法，頂級加密貨幣，比特幣（BTC），以太坊（ETH）和Solana（Solana（Sol）的期貨量都顯示出不同的趨勢。

For context, Bitcoin remains largely unchanged, while Ethereum and Solana have corrected 0.5% and 0.8% in the past seven days.

就上下文而言，比特幣在過去七天中糾正了0.5％和0.8％，而以太坊和索拉納的比特幣基本保持不變。

The ongoing trend in BTC, ETH, and SOL signals mixed market interest, raising discussions about their future price trajectory.

BTC，ETH和SOL信號的持續趨勢混合了市場興趣，從而提出了有關其未來價格軌蹟的討論。

Divergent Trends Seen on Bitcoin, Ethereum, and Solana Futures

在比特幣，以太坊和索拉納期貨上看到的不同趨勢

The data from Glassnode shows Bitcoin’s futures volume has diverged from that of Ethereum and Solana.

來自GlassNode的數據表明，比特幣的期貨量與以太坊和Solana的期貨量有所不同。

Traders have opened more leveraged positions in Bitcoin pairs compared to ETH and SOL, raising optimism about a possible price swing.

與ETH和SOL相比，貿易商以比特幣對開設了更多的槓杆位置，從而對可能的價格下跌提高了樂觀。

According to the Glassnode data, Bitcoin futures volume began the year at $60 billion.

根據GlassNode數據，比特幣期貨量開始了600億美元。

Over the course of the year, increased market participation saw the volume hit its current yearly peak of $63 billion in February.

在一年中，增加的市場參與度達到了2月的年度峰值630億美元。

However, the recent market uncertainties have reduced traders’ appetite to speculate on Bitcoin’s short-term price actions.

但是，最近的市場不確定性減少了交易者對比特幣短期價格行動推測的食慾。

This resulted in a sharp fall to nearly $40 billion. With a changing narrative, traders are back trading the asset, per Glassnode.

這導致急劇下降到近400億美元。隨著敘述性的變化，貿易商正在恢復每個玻璃節目的交易資產。

Notably, Bitcoin’s volume has increased by 32% from February 23 and now sits at $57 billion. Still, this figure remains well below December’s peak of $74 billion.

值得注意的是，比特幣的數量從2月23日起增長了32％，現在為570億美元。儘管如此，這個數字仍低於12月的740億美元的高峰。

Despite Bitcoin’s growing trader interest, futures volume for Ethereum and Solana has remained flat.

儘管比特幣的交易者不斷增長，但以太坊和索拉納的期貨數量仍然平坦。

To provide context, Ethereum’s derivative volume opened the year at $32 billion and reduced considerably before hitting $31 billion.

為了提供背景，以太坊的衍生產品量以320億美元的價格開放，並在達到310億美元之前大幅減少。

Per Glassnode, Ethereum’s futures volume currently stands at $28 billion. This figure is nearly $10 billion away from its peak volume of $37 billion in December.

以太坊的期貨銷量目前為280億美元。這一數字距12月的峰值量為370億美元，距離其峰值近100億美元。

Similarly, the futures volume for Solana plummeted 29% from its year-to-date high of $12.2 billion to $8.7 billion.

同樣，索拉納的期貨量從其畢業生高達122億美元至87億美元的高點下降了29％。

Implications on Price and Market Trends

對價格和市場趨勢的影響

Notably, leveraged interest in an asset could either drive prices higher or lower depending on traders’ predominant sentiments.

值得注意的是，根據交易者的主要情感，對資產的利息可能會推動價格上漲或更低。

Increased volume equals more market liquidity, which could considerably impact the price of Bitcoin.

增加的數量等於更多的市場流動性，這可能會大大影響比特幣的價格。

Meanwhile, Coinglass shows the long/short ratio on Bitcoin derivatives is neutral to slightly bearish, standing at 0.9964.

同時，小店表明，比特幣衍生物的長/短比是中性的，略微看跌，為0.9964。

Currently, BTC price is traded at $81,558, down 2.37% over the past day and up 1.2% in the last seven days.

目前，BTC價格的交易價格為81,558美元，過去一天的價格下降了2.37％，在過去的7天中上漲了1.2％。

Ethereum has decreased by 1.9% on the daily chart to trade at $1,885. SOL price saw the largest decline of the day, with the price dropping by 3.2% to $123.48.

每日圖表上的以太坊下降了1.9％，以1,885美元的價格貿易。 Sol Price當天下降最大，價格下跌了3.2％，至123.48美元。

The overall market outlook suggests cautiousness among investors ahead of the Federal Reserve’s policy meeting on March 18 to 29.

整體市場前景表明，在3月18日至29日美聯儲的政策會議之前，投資者謹慎。

Several analysts expect interest rates to remain unchanged at the end of the meeting.

幾位分析師預計在會議結束時利率將保持不變。

Rebound Expectations, Is the Bull Market Over?

反彈期望，牛市已經結束了嗎？

The persistent selling pressure in the crypto market over the past few weeks has raised discussion about the end of the bullish season.

在過去的幾周中，加密貨幣市場的持續銷售壓力引發了關於看漲季節結束的討論。

CryptoQuant founder Ki Young Ju has shared his opinion on the current situation on the Bitcoin market.

CryptoQuant創始人Ki Young Ju對比特幣市場的當前狀況分享了他的看法。

Young Ju issued a gloomy forecast for the next 6-12 months, stating that the Bitcoin cycle has come to an end. The CEO, therefore, advised traders not to expect any major bullish movements soon.

Young Ju在接下來的6-12個月內發布了一個令人沮喪的預測，並指出比特幣週期已經結束。因此，首席執行官建議交易者不要預期任何重大看漲運動。

The CryptoQuant boss shared a chart displaying BTC PnL (Profit and Loss) Index cyclical signals. The chart suggested that bullish hopes for the next Bitcoin movement are unlikely to come true.

加密老闆分享了一個圖表，顯示了BTC PNL（損益）索引週期性信號。該圖表表明，對下一個比特幣運動的希望是不可能實現的。

On the contrary, analyst Rekt Capital’s forecasted earlier that the current bull run could extend into late 2025. The market will watch to see what the future holds for the broader crypto market.

相反，分析師Rekt Capital早些時候預測，目前的公牛運行可能會延伸到2025年末。市場將注意，了解更廣泛的加密貨幣市場的未來。