Fear and Greed Index | 恐惧贪婪指数

The Crypto Fear & Greed Index ranges from 0 (extreme fear) to 100 (extreme greed). Historical patterns: extreme fear often marks bottoms; extreme greed often marks tops. Contrarian trading based on this index has been profitable during extreme readings. Current readings help position bias. 加密恐惧贪婪指数范围从0（极度恐惧）到100（极度贪婪）。极度恐惧往往是底部信号。

Funding Rate Analysis | 资金费率分析

Funding rates on perpetual swaps reveal market positioning. High positive funding (>0.1% per 8h) = excessive long leverage, often preceding corrections. Negative funding = shorts paying longs, can precede short squeezes. Extreme readings are contrarian indicators. 永续合约资金费率揭示市场定位。高正资金费率表明多头杠杆过高。极端读数是反向指标。

Open Interest Analysis | 持仓量分析

Open Interest (OI) rising with price confirms trend strength. OI falling while price rising suggests trend weakening. OI at extreme levels warns of potential liquidation cascades. OI changes by exchange reveal where smart money is positioning. 持仓量随价格上涨确认趋势强度。持仓量在极端水平警告潜在清算级联。

On-Chain Sentiment | 链上情绪

Exchange inflows/outflows indicate accumulation or distribution. Exchange balances declining = accumulation. Stablecoin supply ratio: more stablecoins on exchanges suggests buying power. MVRV Z-Score identifies over/undervaluation. NUPL (Net Unrealized Profit/Loss) shows market cycle phase. 交易所流入/流出表明积累或分配。交易所余额下降=积累。MVRV Z-Score识别超估/低估。

Sentiment-Based Strategy | 基于情绪的策略

Combine extreme Fear & Greed with extreme funding rates for high-conviction contrarian setups. When Fear Index < 20 AND funding negative > 0.01%, prepare for long. When Greed Index > 80 AND funding positive > 0.1%, prepare for short. This strategy captures major sentiment-driven reversals. 结合极端恐惧贪婪指数和极端资金费率获得高置信度的反向交易信号。