#PerpFunding normalized back toward neutral after sustained positive readings during prior rally 📉💪. Broad-based funding softness across instruments, sharp contrast to crowded longs of late 2024 🔴. No extreme negative funding = #limited panic shorting, but muted risk appetite persists. Derivatives balanced with leverage reduced, #SpotFlow and structural demand now key drivers for next #move ⚡️🎯👀


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