By Bitcoin 杂志 - 2 年前 - 阅读时间：2 分钟
Bitcoin 衍生品市场反映宏观经济不确定性
分析 bitcoin derivatives data makes it clear that market participants are cautious in this period of uncertainty.
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Today we’ll cover the latest in the bitcoin derivatives market. At the time of writing, the price of bitcoin is up approximately 8% over the previous day’s time. When analyzing the derivatives data, the previous two months have brought about a regime of periodically negative funding, showing the caution shown by market participants during a period of macroeconomic uncertainty.
bitcoin price weighted by the hourly perpetual funding rate demonstrates caution by market participants.下面显示的是年化的融资利率，年化约为 10% 是市场中性利率做多。 就我们今天的情况而言，资金利率情绪强调自 XNUMX 月下旬以来偏向下行的、低于中性的情绪。
资金利率情绪强调低于中性的感觉。以下是自 2020 年初以来永续掉期资金利率的日均值：
The daily average bitcoin price weighted by perpetual funding rate offers more context for market sentiment.值得注意的是，之前的衍生品看跌机制使资金利率更深地进入负值区域，这可能说明资产类别的成熟和制度化。
同样，季度期货年化基差继续下跌，而价格明显受到买盘。
季刊 bitcoin futures continue to fall.Equities indices are also trading up by approximately 3% today, which is likely to have contributed to the positive price action seen in the bitcoin 市场。
As for the level of open interest in the derivatives market, it continues its downtrend since November in both BTC and USD terms. Open interest is down 14.76% and 44.34% respectively. With the falling annualized rolling basis, this is another way to view the structural decline of the risk appetite demand for bitcoin over the last five months.
原始来源： Bitcoin 杂志