According to Odaily Planet Daily, Zhou Lele, deputy chief operating officer of Shengli Securities, said that negative Funding rates indicate that shorts are more dominant in the contract market; thin spot depth shows obvious downward resistance.

The divergence between futures and spot may indicate that bearish sentiment dominates the market in the short term, but there is market support at certain price points. On-chain data shows that virtual assets are transferred out in large amounts, and whales may be accumulating chips at this time.

Last Monday, 273,000 Ethereum (about $68 million) was withdrawn to the chain, and on Friday, 44,000 Bitcoin (costing about $59,500) was withdrawn to the chain. Bitcoin outflows are often accompanied by price increases.

The virtual asset market is in need of a critical turning point to welcome the OTC buying force, break through the shock, 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.