【Victory Securities: Funding Rates have halved and receded, the short-term direction of Bitcoin is not one-sided】According to a report by Golden Finance, Zhou Lele, the Deputy COO of Victory Securities, analyzed that the macro-level, high-volume negative impact risks in the cryptocurrency market have passed, and risks are now more focused on the fulfillment of expectations. For example, the Dogecoin ($DOGE) saw an increase of only 5.7% after media reports on the American 'Department of Government Efficiency' (abbreviated as DOGE), led by American entrepreneurs Musk and Ramaswamy, while Dogecoin surged by 83% in the week of the U.S. election results announcement. Last week, the net inflow of over-the-counter Bitcoin ETF was $1.67 billion, and the holdings of exchange contracts and CME contracts remained high. However, the Funding rates have halved and receded, indicating that the short-term direction of Bitcoin is not one-sided, and short sellers are also gaining strength.