XRP and DOGE Defy Flat Funding Trend Against BTC

Crypto Market Sentiment Shifts: Funding Rates Remain Flat Amid Macroeconomic Pressures

The recent crypto market rally, fueled by Bitcoin's price surge, has lost momentum as investors grow increasingly cautious. Glassnode data reveals that funding rates across the crypto market have stayed flat despite the bullish price action.

While Bitcoin's rise above $108,000 briefly put all BTC holders in profit, the market has since shown unexpected behavior. Bitcoin's funding rate remains neutral at 0.0079%, failing to climb alongside the price surge. This anomaly has left investors wary as macroeconomic factors continue to create uncertainty.

The flat funding trend extends across most major cryptocurrencies, with only XRP and Dogecoin showing slightly positive rates among the top 10 assets. XRP's funding rate reached 0.0101% while DOGE hit 0.0104%, indicating some trader interest despite Bitcoin's stronger performance.

Not all holders are benefiting equally from the market movement. While 92.8% of XRP holders are currently in profit, only 81.1% of DOGE holders can say the same. The market took a sudden downturn today, with Bitcoin dropping 1.85%, XRP falling 2.54%, and DOGE declining 2.89% in the past 24 hours.