When the price is above 100,000, the funding rate is negative.

Retail investors are massively "distributing", "selling at the top", and "shorting at the peak",

whether influenced by certain KOLs,

or "scaring themselves".

At the same time, passive buyers continue to push up prices,

and even with a CB Premium of 0, the market has not collapsed,

and the BTC long positions of Bitfinex whales have not exited yet.

Based on the current signals,

this is the extremely bullish signal we can obtain.

The bull market is far from over.