Current mainstream CEX, DEX funding rate displays a weakening bearish market sentiment

BlockBeats News, February 5th, according to Coinglass data, Bitcoin's downturn continues, with the $70,000 key level in jeopardy. The current mainstream CEX, DEX funding rates indicate a weakening bearish market sentiment, as shown in the attached image.

BlockBeats Note: Funding Rate is a rate set by cryptocurrency exchanges to maintain balance between the contract price and the underlying asset price, usually applicable to perpetual contracts. It is a mechanism for fund exchange between long and short traders, with the exchange not charging 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.