ChainCatcher reports that, according to Coinglass data, Bitcoin’s downward trend continues, briefly touching the $60,000 psychological level. Currently, mainstream CEX and DEX funding rates indicate that the market has once again shifted to a bearish outlook, with specific funding rates shown in the attached chart.
Funding rates are fees set by cryptocurrency trading platforms to maintain the balance between contract prices and the underlying asset prices, typically applicable to perpetual contracts. They serve as a mechanism for fund exchange between long and short traders; the trading platform does not charge this fee. The purpose is to adjust the cost or profit for traders holding contracts, ensuring that contract prices stay close to the underlying asset prices. When the funding rate is 0.01%, it indicates the baseline rate. A funding rate above 0.01% suggests a generally bullish market. Conversely, a funding rate below 0.005% indicates a generally bearish market.
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