I'm noticing that Bitcoin is still hiding around the 72,000 mark with very low volume. It's been like this since early February, going up and down but nowhere near a breakout. The futures market is also sluggish, with negative funding rates, indicating many are betting on the price dropping. This isn't a bullish vibe.

What's interesting is that while Bitcoin is sleeping, some altcoins are starting to move. DeFi and AI tokens recently surged significantly, with ALGO and RENDER even hitting double digits in a single day. Usually, this happens when Bitcoin's direction is unclear, and traders start playing with altcoins that have lower liquidity. But this is only temporary; once Bitcoin starts trending, everything will follow.

The derivatives market also shows bearish signals. Solana open interest is rising sharply, but combined with negative funding rates, it means short positions are dominant. Ether volatility has dropped to the lowest level since late February. Put options are also more expensive than calls, indicating people are more worried about the price falling. Dealers are also positioned to sell if BTC breaks below 68,000.

So basically, Bitcoin is stuck, altcoins are hot, but the overall market remains bearish. Wait for Bitcoin to move first before making big decisions.