ChainCatcher News, according to Coinglass data, shows that after a recent correction in the crypto market, the price once dropped below $91,000. Currently, the funding rates for major CEX and DEX platforms indicate that the market’s bearish sentiment towards BTC, ETH, and SOL has eased and has roughly returned to neutral rates. However, there is still a large-scale bearish sentiment towards altcoins, with specific funding rates for mainstream coins shown in the attached chart.
Note: Funding rates are rates set by cryptocurrency trading platforms to maintain the balance between contract prices and the underlying asset prices, typically applicable to perpetual contracts. It is a mechanism for the exchange of funds between long and short traders; the trading platform does not charge this fee. It is used to adjust the cost or profit for traders holding contracts, keeping the contract price close to the underlying asset price. When the funding rate is 0.01%, it indicates the baseline rate. When the funding rate exceeds 0.01%, it signifies a generally bullish market. When the funding rate is below 0.005%, it indicates a generally bearish market.
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