Capital appears to be rotating toward relative safety. Bitcoin dominance has risen to 59.76% over the past month, while the Altcoin Season Index has fallen to 27, down 29% in one week—signaling weaker appetite for higher-risk altcoins. Meanwhile, derivatives open interest increased 15% to $452B, showing fresh positioning, but average funding rates declined 30% over the past 24 hours, suggesting traders are becoming less aggressive on leveraged longs.
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