Bitcoin is trading at $63,671.32, up 1.60% over the past 24 hours, while Ethereum has climbed to $1,723.81, up 1.64% over the same period — a modest rebound following the four-day decline that took Bitcoin below $62,400 in the wake of Wednesday's hawkish Fed dot plot and the STRC-driven credit market stress.What funding rates reveal beneath the price actionDespite the price recovery, funding rates across major trading platforms tell a more cautious story. BTC funding rates are below the bullish threshold on all platforms, with roughly half turning negative — indicating that the price increase has not been accompanied by a corresponding recovery in bullish sentiment among leveraged traders. ETH funding rates are similarly in bearish territory across platforms, though most remain positive, suggesting Ethereum sentiment is comparatively less negative than Bitcoin's at this moment.A funding rate of 0.01% represents the neutral benchmark. Rates above that threshold typically indicate bullish positioning, where long traders are paying shorts to maintain leveraged positions. Rates below approximately 0.005% indicate bearish positioning, where the balance of leveraged demand has shifted toward shorts or simply away from aggressive long conviction.Why this divergence mattersThe gap between rising spot prices and weak funding rates is a meaningful signal in itself. When price rises but funding rates stay low or negative, it typically suggests the rally is being driven by short covering or spot buying rather than fresh leveraged long conviction — a pattern consistent with what derivatives data showed during Monday's earlier short-squeeze-driven bounce to $66,000 following the initial US-Iran deal confirmation.This pattern also lines up with the broader market structure described throughout the week: more than $450 million in long liquidations following Wednesday's Fed meeting, elevated put option demand targeting a potential slide to $52,000, and persistent negative cumulative volume delta across most major tokens. Traders who were burned by the post-FOMC selloff and the STRC credit scare appear to be treating today's bounce with caution rather than re-leveraging aggressively into long positions.The broader contextToday's modest recovery arrives against a backdrop of accumulating structural signals — Glassnode's Accumulation Trend Score at its maximum reading, K33's record 79% long-term holder supply share, and CryptoQuant's Sharpe ratio hitting historical cycle-bottom levels — all of which suggest underlying demand conditions have been improving even through the week's volatility. The disconnect between that accumulation picture and today's tepid funding rates may simply reflect the lag between spot-level accumulation by long-term holders and the return of confidence among shorter-term leveraged traders, who tend to be the last cohort to re-engage after a sharp selloff.Whether today's bounce extends or fades will likely depend on whether funding rates begin normalizing toward the bullish threshold in the coming sessions — a shift that would indicate leveraged traders are starting to share the conviction reflected in the broader on-chain accumulation data, rather than remaining skeptical of the recovery's durability.

The Algorand Foundation has released a roadmap for quantum-resistant upgrades, planning to begin a series of protocol changes in 2026 and aiming to achieve network-wide “quantum security” between the end of 2027 and 2028 to address potential future threats from quantum computing to current cryptographic systems. According to ChainCatcher, the roadmap’s first phase will introduce a post-quantum account system, multisignature wallets, and staking support. Later phases are expected to progressively upgrade core protocol components, moving toward a comprehensive cryptographic migration spanning from the wallet layer to underlying infrastructure. The report also noted that other blockchain ecosystems, including the Ethereum Foundation and Solana, have started similar research and migration planning related to quantum-resistant cryptography.

Spot gold extended its pullback this week, marking a third consecutive weekly decline. According to PANews, gold was among the assets facing the most pressure as market sentiment shifted between easing geopolitical risks and a more hawkish turn from the U.S. Federal Reserve. PANews attributed the continued weakness in spot gold to a stronger U.S. dollar, rising real yields on U.S. Treasury bonds, and hawkish signals from the Fed.

QCP Capital said Strategy’s runway before it runs out of cash for dividend payments has been extended to about 7.5 months. According to Odaily, QCP Capital added that in the short term, this pressure may continue to limit Bitcoin’s ability to fully participate in broader macro optimism.

沃什就任美联储主席后面临的首要难题并非利率该升还是降，而是一个更根本的判断：当前AI繁荣究竟是哪一种繁荣？这一判断将决定美联储的政策走向，也将定义沃什的历史地位。

金色周刊是金色财经推出的一档每周区块链行业总结栏目，内容涵盖一周重点新闻、行情与合约数据、矿业信息、项目动态、技术进展等行业动态。

谷歌为数据中心提供担保以撬动自研芯片销售，以850亿美元融资计划为后盾争夺算力客户，博通联合阿波罗、黑石设立350亿美元AI算力平台，并提供信用背书。

AllianceDAO,Cursor,项目,Alliance 联创致创业者的一封信：写在 Cursor 卖出 600 亿美元之际 金色财经,伟大的公司,都是在变得显而易见之前熬出来的。

德银认为，AI对高带宽存储（HBM）的结构性需求疯狂挤占传统产能，供给缺口难以在2027年前弥合。

扩容正在压低短期费用，也在放大Ethereum的结算网络效应。

他说，该司在美政府表达担忧后迅速回应，表现得“非常负责”；不会关闭该司，但不确定是否非得动用法律赋予的紧急权力干预不可。

行情,BTC,股价一个月暴跌32%：全球持有比特币最多的公司怎么了？ 金色财经,股价月跌三成，非致命缺陷。

40万次会话显示，AI降低了编程门槛，也放大了领域判断的价值。

为寻找新的增长曲线，越来越多矿企加速切入AI赛道，这一转型叙事迅速获得得资本市场青睐，不少矿企股价大幅上涨，甚至刷新历史高点。