Bitcoin market sentiment cautious as Ethereum sees surge in leverage demand

Despite Bitcoin (BTC) attempting to break $110,000, K33's research report highlights a cautious market sentiment, with negative daily funding rates on Binance’s BTC/USDT perpetuals and weekly funding rates at just 1.3% annualized. According to The Block, this signals investor skepticism and subdued leverage activity. In contrast, Ethereum (ETH) is seeing a surge in leverage demand, with increasing open interest in its derivatives market.