Funding Rates show a sign of recovery, but whale activity is still dormant

Funding-Rates-show-a-sign-of-recovery-but-whale-activity-is-still-dormant

The bitcoin price has been highly undervalued according to all on-chain valuation metrics. However, before we can call a possible bottom, we must first see whales begin to accumulate BTC. This is crucial from the perspective of holding.
Still, whales have kept cutting back on their spending, which is now at its lowest point since before Terra and Luna fell apart. Despite the fact that they are not accumulating coins, this trend is notable.

It appears that the 1m–3m holder realized price, which is currently sitting at $18,4k, is the local ceiling for the price of bitcoin in the short run. In fact, during the market's current uptrend, this gauge has served as price resistance.

Finally, compared to the COVID and China-ban crashes, funding rates seem to have recovered faster. It demonstrates the market sentiment healing.