CryptoQuant analyst: When the 30 day funding rate drops to about 50%, BTC shows a temporary bottom, currently at 54%

CryptoQuant analyst Axel Adler Jr pointed out that according to the chart, whenever the 30 day percentile funding rate of major exchanges drops to around 50% (marked in green circles: September 2023, May 2024, September 2024, and April 2025), the market experiences a temporary bottom, followed by an upward trend. The last bottom occurred in April 2025, after which the price of Bitcoin rebounded to $112000, and the current funding rate percentile remains at 54%. He believes that this market structure indicates that the bullish trend is still continuing, and the next focus will be on funding rates reaching the level of 80%. If this level is exceeded, there may be excessive market enthusiasm and subsequent adjustment risks.