比特币对利用的渴望淡出的需求

自2月初以来，比特币一直面临着波动和销售压力，随着看跌价格行动占领市场，拖延了山寨币和模因硬币。

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月初以来，比特币的价格行动已经面临着波动和销售压力，随着看跌价格动作占领了市场，拖延了山寨币和模因硬币。

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日达到了新的97,857美元的新历史高点之后，BTC面临着巨大的销售压力，在钥匙供应区域，导致价格下降。市场结构发生了变化，公牛表现出疲惫的迹象，促使分析师要求进行更广泛的纠正。

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

比特币价格面对关键供应区的销售压力。来源：材料指标

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%.

根据物质指标的数据，自1月下旬以来，7天的平均筹资率一直在稳步下降，现在为0.004％，从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.

资金率信号的这种急剧下降的信号是对长期杠杆的需求正在消失，而市场中的投机性食欲正在削弱。如果没有交易者的更新杠杆，比特币的价格行动可能会在接下来的几周内保持稳定，甚至更纠正。

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

7天的平均资金率急剧下降。来源：玻璃节

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.

正如物质指标所强调的那样，要注意支持的关键水平是96,000美元和89,000美元的价格点，这可以为市场提供稳定和准备下一条腿更高的机会。

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，如果比特币无法在这些水平上找到支持，则可以进行更广泛的市场校正，从而导致加密货币市场进一步下降。