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

The collision of on-chain data and market sentiment has confirmed one thing — $BTC and $ETH have solidified their phase bottoms, but the true altseason boom? It hasn't fully arrived yet.

Looking at funding rates across major exchanges and DEXs, things are getting interesting. The previously extreme bearish sentiment has dissipated, and major capital's pessimism about mainstream coins has found its bottom. What's behind it? The whales have been busy this week, and on-chain data tells the story — BTC exchange balances have declined 3.2%, and Grayscale's selling pressure is slowly being absorbed.

But here's a reality check — altcoin funding rates are still widely in the red (negative values). What does this mean? The market hasn't truly gained the courage to bottom-fish small caps yet; money is still clustered around mainstream coins for safety. We said two weeks ago: "Early in the rebound, be careful stepping into altcoin pitfalls," and now the data confirms this judgment once again.

Straight talk:

$BTC and $ETH are still consolidating at the bottom. Adding on dips is the play here. Funding rates shifting from extreme to neutral doesn't mean an immediate liftoff, but the bears' fierce pressure is gone, and the medium-term direction is beginning to clarify.

For altcoins, patience is still the name of the game. Negative rates indicate the market is still healing itself; short-term pumps easily turn into stampedes. The real breakout signal we're waiting for requires two conditions together — funding rates turning positive, coupled with a breakthrough in on-chain activity. Only when both appear does it count.

Funding rates are the market's emotional thermometer, not a crystal ball for price moves, but they tell you how the market's internal structure is shifting. Remember the crash period? We warned against panic-selling mainstream coins during altcoin fear, and looking back now, didn't we nail the rhythm again?

Hold your positions, don't let short-term noise shake your resolve. Bull markets are never straight lines—they're stairways built with data points and patience.

The clear-minded always stay ahead. Stick to your strategy, let data speak, and time will provide the answers.