Victory Securities: Funding Rates halved and fell, Bitcoin's short-term direction is not one-sided

Zhou Lele, the Vice Chief Operating Officer of Victory Securities, analyzed that the macro and high-level negative impact risks in the cryptocurrency market have passed. The risks are now more focused on expected realization, such as the American entrepreneur Musk and the American "Efficiency Department" (DOGE) led by Ramaswamy. After media reports, the increase in Dogecoin ($DOGE) was only 5.7%, while Dogecoin rose by 83% in the week when the US election results were announced. Last week, the net inflow of off-exchange Bitcoin ETF was US$1.67 billion, and the holdings of exchange contracts and CME contracts remained high, but the funding rates halved and fell back, indicating that the direction of Bitcoin in the short term is not one-sided, and bears are also accumulating strength.