Kaiko: Short-term funding rates for BTC and ETH are at low levels, and investors are trying to find a clear direction.

Odaily Planet Daily reported that crypto research firm Kaiko pointed out in its latest report that cryptocurrencies are in a tricky situation, with short-term funding rates for Bitcoin and Ethereum at low levels, indicating that investors are struggling to find a clear direction. Meanwhile, the end-of-month options expiry situation shows a balance, which means traders are betting that volatility will be short-lived, and the wave of liquidations in the derivatives market has also exacerbated volatility, with Bitcoin and Ethereum open interest on mainstream CEXs dropping 4% and 12% respectively over the weekend.

Since December last year, trading volumes in South Korea have significantly decreased, with altcoins led by $XRP and $DOGE facing strong selling pressure throughout January. For example, on Upbit, large orders for $DOGE dominate the high price range, which may indicate that large traders or whales are leading the sell-off, possibly taking profits. $XRP was the most actively traded asset on Upbit in January, with a cumulative trading volume of approximately 790 million USD, which is more than double that of DOGE.

Moreover, the performance of most Meme tokens has lagged behind the broader market, but the frenzy is far from over. Major U.S. exchanges like Coinbase are currently considering shifting from a "whitelist" to a "blacklist" strategy to manage the influx of Meme coins more effectively. However, for Trump, investors can never know what will happen, as Kaiko analyst Adam McCarthy stated: "He (Trump) is like a toddler testing his limits."