The current mainstream CEX and DEX funding rate indicates a slight easing of the market's bearish sentiment compared to yesterday, but it remains overwhelmingly bearish

BlockBeats News, February 4th, according to Coinglass data, Bitcoin briefly fell below $73,000 early this morning and then rebounded above $76,000. Funding rate data shows that the market's bearish sentiment has eased compared to yesterday, but it is still predominantly bearish. The Bitcoin funding rates on multiple exchanges have shifted from negative to positive, but the bearish trend is still maintained. Most exchanges still have negative Ethereum funding rates, with shorts continuing to pay fees to longs to maintain their positions, indicating a stronger bearish sentiment toward Ethereum in the market.

BlockBeats Note: Funding Rate is a fee set by cryptocurrency exchanges to keep the perpetual contract price in line with the underlying asset price, usually applicable to perpetual contracts. It is a fund exchange mechanism between long and short traders, and the exchange does not charge this fee. It is used to adjust the cost or profit for 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 above 0.01%, it indicates a generally bullish market. When the Funding Rate is below 0.005%, it indicates a generally bearish market.