Current funding data suggests that altcoin investors are not yet fully confident in the crypto bull market.
According to data provided by on-chain data platform Glassnode, Bitcoin (BTC) gained momentum by showing a remarkable performance, rising from $93,500 to $102,400 as of the beginning of the year. However, it was observed that funding rates in the perpetual futures market continued to remain at low levels.
According to Glassnode, the recurring funding rates of Bitcoin and other major crypto assets remain below the neutral 0.1% level:
Bitcoin (BTC): %0,009
Ethereum (ETH): %0,01
Solana (SOL): %0.006
Ripple (XRP): %0,01
Dogecoin (DOGE): %0,011
Glassnode noted that these low funding rates indicate that participants in the perpetual futures market are not fully keeping up with the current market momentum.
Low funding rates indicate that the market is cautious and investors are skeptical about the sustainability of price increases.
Analysts say that despite Bitcoin’s strong rally since the beginning of the year, the futures market has not been reflective of this rally enough. This may indicate that investors are wary of excessive volatility or are waiting for more data to confirm price movements.
According to Glassnode, these market conditions are a sign of more volatility ahead, and investors should carefully monitor whether the recurring funding rate is approaching neutral levels.
Continuous funding rates stand out as an important indicator that measures how well crypto asset prices align with market expectations and the sustainability of market trends.