Recently, there has been an interesting shift in the market - the BTC funding rate has quietly returned to neutral levels, which can be seen on leading platforms. It seems like a small detail, but it reflects a change in market sentiment: the previous crazy bullish sentiment is starting to dissipate, and the market has finally taken a breather.

But this is not the whole picture. If you pay attention to the funding rate data of ETH and other mainstream coins, you will find an interesting comparison - their funding rates are generally negative. What does this indicate? Quite simply, market funds tend to concentrate on BTC, while remaining cautious towards other coins, with a significant number of hedging positions.

This divergence is actually a positive signal. The funding rate has fallen from a high level to a neutral position, indicating that market sentiment is returning from extreme excitement to relative rationality, greatly reducing the probability of a "long and short explosion". The role of BTC as a market anchor point has been reconfirmed, and once Bitcoin stabilizes, there will be real room for imagination across the entire market.

As for the negative funding rate phenomenon in altcoins, it should be viewed more as a filtering opportunity rather than a risk signal. Those coins that lack real ecological support and are purely propped up by speculation may reveal their true nature at this point.

From an investment perspective, my advice is as follows: First, you must hold your BTC position firmly, as it serves as the ballast of the entire portfolio, so don't let go easily. Second, for those who want to participate in altcoins, you need to be more selective now—choose projects that truly have technological accumulation and ecological development potential, and stay away from those worthless coins without any clear purpose. Lastly, since the market has given you the opportunity to adjust your pace, don't rush to chase highs; spreading your investments over time is much more rational than going all in.

The market is completing the transition from frenzy to calm, and at this time, the most valuable thing is patience. If you're unsure of the direction, just wait, or adopt a grid-like strategy to enter in batches, so as to maintain initiative amidst the fluctuations. Stay steady, the market will eventually provide clearer signals.