According to glassnode, Bitcoin perpetual futures funding rates remain neutral at approximately 0.007% (annualized 7.6%) despite a sharp rally in Bitcoin prices. This indicates that long positioning in the derivatives market is still modest and leverage remains limited, which suggests a healthy and sustainable uptrend. Derivatives markets are gradually catching up to spot prices, offering traders a more stable environment and reducing the risk of excessive liquidations. This trend is relevant for crypto traders seeking signals of market overheating or sustained momentum (source: glassnode, May 16, 2025).