Victory Securities: Funding Rates indicate that short positions in the contract market are stronger

ChainCatcher news, Zhou Lele, the Deputy Chief Operating Officer of Victory Securities, stated that the funding rates (reflecting the interest rate paid by longs to shorts) are negative, indicating that the short positions in the contract market are stronger; meanwhile, the thin depth of the spot market shows a significant downward resistance. There is a divergence between futures and spot markets, which may suggest that short sentiment dominates the market in the short term, but there is a market support force at certain price levels. According to on-chain data, virtual assets have been transferred out in large amounts, and whales may be accumulating positions at this time. Last Monday, 273,000 Ethereum (costing about $2,500) were transferred on-chain, totaling approximately $68 million; on Friday, 44,000 Bitcoin (costing about $59,500) were transferred on-chain.