#密码资产动态追踪 Funding Rate Reversal: Market Differentiation Emerging, Has Your Strategy Caught Up with the Pace?

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

Looking at funding rates across major exchanges and DEXs, things are getting interesting. The extremely bearish atmosphere has dissipated, and the pessimism of whale money toward mainstream coins has already played out. What's behind this? The megawhales have been busy this week, and on-chain data tells the story—BTC balances on exchanges dropped 3.2%, and Grayscale's selling pressure is slowly being absorbed.

But here's a wake-up call—altcoin funding rates are still widely in negative territory. What does this mean? The market hasn't truly loosened up to bottom-fish smaller coins yet; the money is still huddled together in mainstream coins. We said two weeks ago: "In early rebounds, be careful stepping on the altcoin trap," and now the data confirms this assessment once again.

Speaking bluntly:

$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 immediate liftoff, but the bearish viciousness has vanished, and the medium-term direction is becoming clearer.

For altcoins, it's still too early. Negative rates indicate the market is still self-healing; short-term bounces can easily trigger stampedes. The real breakout signal requires—funding rates turning positive combined with breakthroughs in on-chain activity; these two conditions appearing together is what counts.

Funding rates are the market's emotional thermometer, not a crystal ball for price movements, but they tell you how the internal structure of the market is changing. Remember the crash phase? We reminded you back then not to panic-sell your mainstream coins during altcoin carnage, and looking back now, didn't we nail the timing again?

Hold your positions; don't let short-term fluctuations shake your resolve. Bull markets are never straight upward lines, but rather staircases built with data points and patience.

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