Professor Satoshi
BTC Funding + Exchange Withdrawals
Are we overheated??? Technically, no. This is based off OI and funding. You can argue that there are significantly less participants in the market which is why OI is low comparatively to 2021-2022. Funding rates are positive, but not overheated like we saw in 2021. Looks healthy to me, as in potential continuation of this trend. That is not to say we wont see a pullback to account for people taking profit and to punish late bulls. Spot exchange withdrawals are kind of muted on the rally, a bit of outflows but not too significant to raise any eyebrows.