When the market falls into a frenzy, and leveraged long positions bloom everywhere, the funding rate often soars to astonishing levels—this is a classic warning sign of an impending top.

But today, the funding rate for BTC perpetual contracts is as calm as the sea before a storm, and this unusual phenomenon reveals the true state of the market:

We are still in the mid-stage of a bull market, and the real madness has yet to arrive. $BTC #Hashdex推出XRP现货ETF #特朗普暂停新关税