2月12日消息，2026年，Berachain（BERA）因永续合约市场出现极端资金费率失衡，触发大规模空头回补，价格在24小时内飙升82%。截至发稿，BERA 报 0.937 美元，日内振幅在 0.5117 美元至 1.43 美元之间，盘中一度拉升超 150% 后快速回落。本轮异动也带动其7日涨幅达120%，30日累计上涨约70%。
成交数据同步放大。现货24小时成交量达到 10.5 亿美元，激增 465%。衍生品更为剧烈，期货成交量飙升 632% 至 29.4 亿美元，未平仓合约增长 102% 至 1.428 亿美元，显示市场正经历集中换仓与清算，而非单纯的现货追涨。
本次行情的核心在于极端资金费率。市场监测显示，Berachain 永续合约年化费率一度在 -5,900% 至 +3,000% 间剧烈波动，远超常态。永续价格长期低于现货，形成明显基差，意味着空头高度拥挤。当价格上行时，空头被迫平仓，进一步推高行情，形成连锁挤压。
2月6日，BERA 解锁约 6375 万枚代币，占流通量 41.7%。原本被视为利空的事件并未引发抛售，反而被市场吸收，随后价格反弹加速，成为空头踩踏的导火索。
技术结构上，BERA 仍处于中期下降通道内，但近期强反弹使其重新站上20日均线，并测试50日均线附近。RSI 回升至约67，动能改善。多头需守住 0.87–0.90 美元区间，若放量突破 1.50 美元，上方目标或指向 1.80–2.00 美元；若跌破 0.90 美元并失守 0.57 美元，则本轮拉升可能只是资金面驱动的短期反弹。
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Articoli correlati
JPMorgan: Stablecoin Usage Growth May Not Drive Market Cap Expansion
JPMorgan analysts led by managing director Nikolaos Panigirtzoglou said rising stablecoin velocity—the frequency with which the same stablecoin is used in transactions—may limit market capitalization growth despite accelerating usage. The analysts noted that increased efficiency in
CryptoFrontier1h fa
Bitcoin Rises to $77,000 While Holding $75,000 Support as Traders Maintain Short Bias
Bitcoin rose to $77,000 today while maintaining $75,000 support. However, negative funding rates, unchanged open interest, and cautious trader positioning indicate a lack of conviction in the upside.
GateNews2h fa
Crypto Fear and Greed Index Rises to 40 Overnight, Up 15 Points from May 1
According to Coinglass data, the Crypto Fear and Greed Index rose to 40 overnight from May 1, up 15 points. The index remains in fear territory, down from the 7-day average of 33 and 30-day average of 24.
GateNews5h fa
JPMorgan：穩定幣交易量飆升、但 Velocity 機制使市值不會等比例成長
JPMorgan 指出穩定幣交易量快速上升，velocity 提高導致市值未必同步增長；預估 2028 年穩定幣市值為 5,000-6,000 億美元，較樂觀的兆美元預測保守。2026 Q1 市值 3150 億、交易量 28 兆、年化 17.2 兆。此觀點與 a16z 的「程式化貨幣」主張不同，顯示穩定幣議題已進入主流機構辯論。
ChainNewsAbmedia6h fa
JPMorgan: Stablecoin Usage Growth Won't Match Market Cap Rise
JPMorgan analysts led by managing director Nikolaos Panigirtzoglou said rising stablecoin usage may not lead to proportional growth in total stablecoin market capitalization, according to a recent report. The key reason is rising velocity—how often the same stablecoin is used in transactions—which m
CryptoFrontier7h fa
Bitcoin Bounces on May 1 as Big Tech Earnings Fuel Optimism
Bitcoin bounced on May 1, 2026, as positive earnings from major technology companies boosted market sentiment. Short-term pressures, however, continue to constrain gains.
GateNews7h fa
