#PerpFunding shifted from persistent positive near $120K to neutral/negative at $70K — long-side leverage unwinding 📉🔴.

Negative spikes = traders hedging or #Short into weakness. Recovery needs funding stabilization + renewed #SpotDemand, not just short covering ⚡️🎯👀

#PerpFunding normalized back toward neutral after sustained positive readings during prior rally 📉💪. Broad-based funding softness across instruments — sharp contrast to crowded longs of late 2024 🔴.

No extreme negative funding = limited panic shorting, but muted risk appetite persists. Derivatives balanced with leverage reduced — #SpotFlow and structural demand now key drivers for next move ⚡️🎯👀

#PerpFunding remains negative even as #BTC stabilizes, with short positioning still dominating as traders pay to maintain downside exposure 📉🔴. Hesitation to re-enter longs contrasts with prior recoveries where funding normalized quickly 💪.

Sustained negative funding indicates crowded #Shorts vulnerable to squeezes if upward momentum continues. Yet, limited conviction in recovery remains evident among leveraged traders ⚡️🎯👀.

#PerpFunding firmly negative across major exchanges — traders have shifted from aggressive longs to defensive short positioning since the February drawdown 📉🔴.

Crowded #Shorts could fuel a strong upside move if spot demand returns — but without clear directional flows, market remains cautious for now ⚡️🎯👀