[Shengli Securities: Funding Rates show that shorts are more dominant in the contract market, and the virtual asset market is in need of a key turning point] Golden Finance reported that Zhou Lele, deputy chief operating officer of Shengli Securities, said that Funding rates (reflecting the interest rate paid by longs to shorts) are negative, indicating that shorts are more dominant in the contract market; while the thin spot depth shows obvious downward resistance. There are differences between futures and spot, which may indicate that short sentiment dominates the market in the short term, but there is a bottoming force in the market at a certain price point. According to on-chain data, virtual assets are transferred out in large amounts, and whales may accumulate chips at this time. Last Monday, 273,000 Ethereum (costing about $2,500) were brought to the chain, equivalent to about $68 million; on Friday, 44,000 Bitcoins (costing about $59,500) were brought to the chain. According to experience, the outflow of Bitcoin is often accompanied by a rebound in prices. The reasons may include: investors have become more positive about future price expectations and choose to actively buy and build positions during this period. The virtual asset market is in need of a critical turning point to usher in off-market buying forces, break through the shocks, and find a direction. The market's hesitant wait-and-see attitude may also provide value investors with an opportunity to absorb low-priced chips.

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