According to CoinMeta, the price of Bitcoin ($BTC) broke through $64,500 on Monday, triggering a new high in funding rates in 20 months. Analysis indicates that institutional investors played a significant role in this price increase, and analysts are paying attention to this phenomenon, considering it to be either a bullish signal or a potential trap. On Monday, the price of Bitcoin rebounded from a low of $62,690 to $64,550, almost recovering all of the losses from last week. Despite a significant outflow of Bitcoin ($ETF) last week, the total inflow on Monday reached $137.3 million, indicating that institutions are buying back. The spot inflow of Bitcoin on Monday was $107.55 million, slightly lower than the inflow on ETF, suggesting that institutional buying momentum surpassed that of the overall market. This round of price increases reflects the market positioning of institutions and usually indicates their expectation of further price rises. However, such buying behavior may also aim to trigger a market reaction, carrying the risk of manipulation. Data from CryptoQuant shows that the positive funding rate soared on Monday, indicating that derivatives traders are generally bullish, but it may also lead to potential clearing risks.