#市场情绪观察 Current market sentiment is characterized by "cautious optimism": the slowdown in Bitcoin ETF capital inflows and the Fed's interest rate cut expectations have led to an intensification of short-term long-short game. The Binance contract premium rate narrowed to 1.2% (previous value 3.5%), reflecting that the main funds tend to wait and see, but retail investors are still chasing new currency dividends through staking activities such as Launchpool, maintaining local heat.

On-chain behavior shows polarization: whale addresses continue to increase their holdings of BTC/ETH, while small and medium-sized accounts turn to high-volatility assets (such as MEME coins), suggesting a stratification of risk preferences. Social media sentiment indexes (such as LunarCrush) show that the "AI+blockchain" narrative has increased sharply, but we need to be wary of the decoupling of concept hype and fundamentals.