Bitcoin daily chart mid-line breakout faces resistance, and the bears immediately launch a rebound. Observing the futures market, it’s not hard to see that the funding rates for mainstream trading pairs are beginning to decline across the board, with some already entering negative territory.

This phenomenon actually aligns with expectations. Previously, it was analyzed that the 95k-97k range would not be broken through in one go. Why? Because this rebound was fundamentally driven by nearly half of the gains coming from the futures market. The major short squeeze at 95k provided the momentum for the price to surge to 97k. Without that liquidation, the rebound would have been much weaker.

What does the rapid decline in funding rates now indicate? It suggests that, in the context of insufficient spot buying power, the market is still waiting for liquidity to accumulate again on the futures side. This period is often a phase of buildup—longs are preparing for the next wave, and shorts are re-establishing their defenses.

The performance of SOL is worth paying attention to. Under this large environmental shift, its movements might provide a different reference. In the short term, a pullback or correction is actually healthy; extreme one-time breakthroughs often lay hidden risks.