Analysis: The average funding rate indicates that the consolidation will continue, closely follow the VIX index to prevent risk pressure.

On November 13, CryptoQuant analyst Axel stated that the average funding rate of major exchanges such as CEX is 0.003%. Under the current funding level, the market may continue to be in a consolidation state. The increase in bond volatility may spread to stocks and Bitcoin, even though the U.S. government has resumed operations, the market will begin to receive macro data. In the future, close attention should be paid to the VIX index; if it starts to rise, it will be a concerning signal of risk pressure. The VIX index (Chicago Board Options Exchange Volatility Index) is an indicator that measures the expected volatility of the U.S. stock market over the next 30 days and is widely known as the “fear index.”