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Glassnode: 85% of altcoin funding rates are above the average, the market has entered an optimistic state
According to analysis by Glassnode, the current altcoin market has entered an optimistic state, with approximately 85% of altcoin funding rates rising above their respective averages, marking the highest level for this metric since BTC was at historical highs.
During the altcoin season, a similar funding rate environment may persist for several weeks.
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