Trading Platform Funding Rate Indicates Strong Bearish Sentiment in the Market, with Major Coins Showing Negative Values

BlockBeats News, February 2nd, according to Coinglass data, with today's noon Bitcoin falling below $75,000, falling below the Strategy's cost basis, market panic spread. Currently, mainstream CEX, DEX funding rates indicate that the market is highly bearish, with none of the BTC, ETH, SOL funding rates in positive territory. It is worth noting that the market's bearish sentiment towards altcoins is not as strong as towards mainstream coins; most mainstream altcoins' funding rates are still not positive. Specific funding rates are shown in the attached image.

BlockBeats Note: Funding Rate is a fee set by cryptocurrency exchanges to maintain balance between the contract price and the underlying asset price, usually applicable to perpetual contracts. It is a fund exchange mechanism between long and short traders, and the trading platform does not collect this fee. It is used to adjust the cost or profit of traders holding contracts to keep the contract price close to the underlying asset price.

When the Funding Rate is 0.01%, it represents the baseline rate. When the Funding Rate is greater than 0.01%, it indicates a generally bullish market. When the Funding Rate is less than 0.005%, it indicates a generally bearish market.