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## Crypto Daily Digest: Bitcoin funding rate turns negative for the seventh time, more than 2.6 million BTC are currently in a loss state
According to Farside Investors data, the US <a href="/ja/price/bitcoin-btc" target="_blank" class="blog_inner_link">Bitcoin</a> spot ETF had a net inflow of $66.3 million yesterday, of which BlackRock IBIT had an inflow of $44.3 million and Fidelity FBTC had an inflow of $10.6 million; the US <a href="/ja/price/ethereum-eth" target="_blank" class="blog_inner_link">Ethereum</a> spot ETF had a net inflow of $18.1 million yesterday, of which Fidelity FETH had a net inflow of $20 million and Grayscale ETHE had an outflow of $7.16 million.

**Data: <a href="/ja/price/bitcoin-btc" target="_blank" class="blog_inner_link">Bitcoin</a> funding rate turns negative for the seventh time in a year, the market may turn bullish**

CryptoQuant indicator data shows that the Bitcoin funding rate has turned negative for the seventh time in a year. Historically, the previous six negative funding rates have all foreshadowed a strong bullish momentum for BTC. This indicator reflects the cost of holding a leveraged position in perpetual futures contracts, indicating that traders have become overly bearish and also marks a local bottom, which is usually a precursor to a sharp rebound.

If history repeats itself, the market may soon turn bullish. Currently, traders are closely watching the liquidity levels below $98,000 and are looking at $100,000 as a strong support to re-promote price discovery. If this level is broken, it may trigger an increase in buying pressure. To fully restore the bullish momentum and change the market sentiment, BTC needs to recapture the $103,600 mark.

**Analysis: Bitcoin has fallen below the average CEX withdrawal price in 2025, if it remains below this level, it may trigger greater selling pressure**

Coindesk analyst James Van Straten said the average price of Bitcoin (BTC) withdrawals from exchanges in 2025 is currently $100,356. Currently, Bitcoin is trading slightly below that level, hovering around $98,000. When Bitcoin falls below the average withdrawal price for an extended period of time, people become concerned, which tends to trigger a sustained sell-off and bring more downward price pressure. Historically, this indicator has been a strong support level for Bitcoin.

James Van Straten added that breaking this support level does not necessarily mean a bear market or continued decline, because historically, Bitcoin can usually quickly recover to this price level. However, there are currently more than 2.6 million BTC in a loss state. The longer the price remains below the average withdrawal level in 2025, the greater the possibility of further decline.

**Viewpoint: BTC Dominance must exceed 70% to start a new round of "Altcoin season"**

According to crypto analyst Rekt Capital, BTC Dominance needs to break through 70% to usher in a new round of Altcoin season. Currently, BTC Dominance has risen to 64.3%, then fell back to 61%, but the overall trend is still rising. The analysis pointed out that the Altcoin season at the end of 2024 has ended. Bitcoin has started to recover since it fell below 55% in December last year and has now risen by 6%. Historical data shows that 71% is the key point of Bitcoin's market cap share. If BTC.D encounters resistance at this level, the market may usher in a new round of Altcoin market.

## Market Trends: New coin BERA goes live, and PAIN meme coin is about to be launched
### Market Hotspots
The TRUMP meme coin rose slightly, and funds reached a short-term consensus in the current price range of the TRUMP token, and the market bottom-fishing behavior was obvious; Although the TRUMP Token represents the emerging trend of “politics + cryptocurrency”, the future of the TRUMP Token is still highly dependent on Trump and his supporters’ continued attention and influence on cryptocurrency;

PAIN, a trending meme project on the <a href="/ja/price/solana-sol" target="_blank" class="blog_inner_link">Solana</a> chain, announced that it would refund 80% of the funds raised, and the remaining 20% ​​of the funds would be used for token launch and future market making. Previously, PAIN raised more than 180,000 SOL in 48 hours, worth nearly $40 million. PAIN is a popular online meme, depicting a man with white hair in pain, known for his demonic expression of pain; the PAIN account was created in March 2024 and currently has 65,000 followers on X;

The new BERA will start TGE today and will be listed on major trading platforms including Gate.io. The total amount of BERA is 500 million, with an annual inflation of 10% and an initial circulation rate of 21.5%. The project was valued at $1.5 billion in the last round of financing. Some market analysts believe that the launch value of BERA may be in the range of $8-15.

### Mainstream Coins
BTC fluctuated downwards, and the sharp rebound on Monday this week requires time to repair the market;

ETH still maintains at $28 million. According to market rumors, the low price of ETH at $2,100 on Monday was caused by institutional liquidation. There may not be another massive liquidation of ETH in the short term;

Altcoins generally fell, and the AI ​​Agent sector generally pulled back. Leading tokens such as VIRTUAL and AI16Z fell 80% from their historical highs.

## Macro News: The three major U.S. stock indexes rose collectively, and the probability of the Fed keeping interest rates unchanged reached 83.5%
The three major U.S. stock indexes closed higher, with the S&P 500 up 0.39% at 6,061.48 points, the Dow Jones up 0.71% at 44,873.28 points, and the Nasdaq up 0.19% at 19,692.33 points. The benchmark 10-year Treasury yield was 4.43%, and the 2-year Treasury yield, which is most sensitive to the Fed's policy rate, was 4.17%.

In terms of macroeconomic data, the ADP employment data, known as the "small non-farm payroll", exceeded expectations in January, indicating that the US job market remains strong, further compressing the Fed's room for interest rate cuts. Data from CME's "Fed Watch" shows that the probability of the Federal Reserve keeping interest rates unchanged in March is 83.5%, and the probability of a 25 basis point rate cut is 16.5%; the probability of maintaining the current interest rate unchanged in May is 59.1%; the probability of a cumulative rate cut of 25 basis points is 36.1%, and the probability of a cumulative rate cut of 50 basis points is 4.8%.



<div class="blog-details-info">
<div>Author:**Icing**, Gate.io Researcher
<div>Translator:Joy Z.
<div class="info-tips">\*This article represents only the views of the researcher and does not constitute any investment suggestions. All investments carry inherent risks; prudent decision-making is essential.
<div>\*Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all cases, legal action will be taken due to copyright infringement.
</div>

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Daily News | New Coin BERA Will Be Listed Today, PAIN Meme Coin Will Be Launched Soon