Altcoins Surge on Highest Funding Rates Since BTC ATH

The altcoin market has entered a state of optimism according to Glassnode. The data shows that 85% of alts have reached funding rates above their mean, reaching levels not seen since Bitcoin traded at its all-time high.

This is significant because funding rates are an indicator of market sentiment and can persist for weeks in alt season.

The current price of BTC is $78,000, within the Bollinger band with upper resistance at $78,411.87. The EMA50 at $72,335.77 and EMA200 at $66,956.51 act as support beneath a bullish structure.

However, the MACD death cross at 1,804.25 signals fading momentum, while the RSI at 69.6 remains neutral. This suggests that the price may test the 50-EMA support before any continuation higher.