BTC perpetual futures funding rate soared to a daily rate of 0.035%, equivalent to an annual interest rate of nearly 13%, reaching the highest level since December 5th, indicating a surge in market speculation. With Trump taking office as president, the BTC price reached a new historical high on Monday, briefly surpassing $109,000. Most of this price increase is due to leveraged buying of contracts. We believe that the market has very high expectations for Trump’s speech, and investor sentiment has turned greedy.
According to Glassnode data, the BTC long-term holders’ unrealized profit and loss net value (NUPL) indicator has exceeded 0.75, indicating that the market has entered a greedy phase. At the same time, the short-term holders’ profit indicator (STH MVRV) has risen to 1.16, surpassing the 1.1 trend line for over a year, indicating that investors in the short, medium, and long term already have significant unrealized profits. Subsequently, it depends on Trump’s speech and comments on the cryptocurrency market, as well as the executive orders signed afterwards.
In addition to BTC setting a new high, this rise also led to the rise of other cryptocurrencies. The market is hotly discussing the possibility of changes in US policies, and investors’ optimistic sentiment about the long-term trend of the US economy further boosts the market atmosphere. However, we believe that the market is too greedy, and it may quickly fall into a correction in the short term. It is not easy for this highly leveraged contract trading to maintain its upward trend, and Trump must give very clear bullish policy signals.
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〈MICA Daily | BTC funding rate soaring, speculative atmosphere strong〉This article was first published in “Blockke”.
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