#密码资产动态追踪 Funding Rate Reversal: Market Differentiation Emerging, Strategy Keeping Pace

On-chain data combined with market sentiment has confirmed one thing — $BTC and $ETH have stabilized at their phase lows, but has the true altseason boom fully arrived? Not quite yet.

Looking at funding rates across major exchanges and DEXs, things are getting interesting. The extreme bearish sentiment that dominated before has dissipated, and the pessimism from big money on mainstream coins has already priced in. What's behind this? Whales have been busy this week — the on-chain data shows it clearly: BTC exchange reserves dropped 3.2%, and the selling pressure from Grayscale is gradually being absorbed.

But here's a reality check — altcoin funding rates are still turning red across the board (negative values). What does this mean? The market hasn't truly found the courage to bottom-fish small-cap coins yet. Capital is still huddled together in mainstream coins. We called this two weeks ago: "Early in the rebound, be careful stepping into the altcoin trap," and now the data confirms this judgment once again.

Straight talk:

$BTC and $ETH are still consolidating at the bottom. This is the time to average down on dips. Funding rates shifting from extreme to neutral doesn't mean immediate liftoff, but the bears' vicious momentum is gone, and the medium-term direction is becoming clearer.

On altcoins, patience is required. Negative rates indicate the market is still self-correcting. Short-term rallies can easily turn into trampling events. True explosive signals come when — funding rates turn positive AND on-chain activity breaks out. Both conditions need to align to count.

Funding rates are the market's emotional thermometer, not a crystal ball for price movements, but they tell you how the internal market structure is shifting. Remember that crash period? We reminded you not to panic sell mainstream coins amidst altcoin fear. Looking back now, did we nail the timing again?

Hold your positions, don't let short-term turbulence shake your conviction. Bull markets are never straight lines up — they're built like stairways, one data point and bit of patience at a time.

Clear-headed traders always stay ahead. Stick to your strategy, let the data speak, and time will give you the answer.