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

Retail investors are massively "distributing," "fleeing the peak," and "shorting the peak,"

whether influenced by certain KOLs,

or "scaring themselves."

Meanwhile, passive buyers continue to push prices higher,

with the CB Premium at 0, the market still hasn't collapsed,

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

Based on the current signals,

this is the extremely bullish signal we can obtain.

The bull market is far from over.