BTC is once again approaching 78K, but I’m more focused on one counterintuitive signal: the price is in the process of correcting, and funding hasn’t become visibly overheated yet.


This usually suggests the market hasn’t yet entered a unified FOMO phase; the Perp position structure is more worth watching than the spot price.
First look at the structure, then discuss the direction.
BTC-0.69%
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