Concerns Behind Bitcoin's Surge
Although Bitcoin's price has been reaching new highs, the trading volume has not kept up. This indicates that there aren't many active participants in the market, and everyone seems to be less enthusiastic.
Low Funding Rate:
The funding rate has remained low, meaning that most people are not very interested in borrowing money to trade cryptocurrencies. Even with Bitcoin hitting historical highs, there is a lack of excitement.
Low Lending Rates:
The low lending rates also reflect that traders are not actively borrowing money to leverage. If the market were excited, we would typically see more people borrowing money to enter, but clearly, that is not the case now.
Bitcoin Hits New Highs, Altcoins Are Silent:
Despite Bitcoin continuously reaching new highs, major altcoins have remained stagnant, with some even experiencing price drops. This is quite abnormal, as usually when Bitcoin rises, other cryptocurrencies follow suit.
Conclusion:
This phenomenon in the current market is somewhat strange and likely indicates that there will soon be significant volatility to break this 'absurd' situation.
