Funding Rates & Open Interest

I agree, the funding rate normalization is a good sign. Less leverage blowing up means a more stable market base.

Healthy for sustained movement, perhaps, but what kind of movement are we talking about? Sideways for a bit to consolidate gains, or a fresh leg up?

Any thoughts on how the institutional side of CME's OI might be influencing this? Retail often follows institutional sentiment, even if indirectly.