$BTC According to ChainCatcher, the CryptoQuant analyst Axel Adler Jr. stated that when the 30-day funding rate percentile on conventional trading platforms falls around 50%, it generally corresponds to a local bottom stage, after which the market tends to recover and rise.

After the bottom in April 2025, the funding rate percentile is 54%. The bullish trend remains strong, and the focus will be on the 80% level. A breakthrough at this level may indicate excessive enthusiasm in the market, posing a risk of adjustment.