Current mainstream CEX and DEX funding rate displays indicate the market has once again shifted to a bearish sentiment

BlockBeats News, February 6th, according to Coinglass data, Bitcoin continued its decline, once touching the $60,000 whole number level. Currently, mainstream CEX and DEX funding rates show the market has once again fully shifted to a bearish sentiment, with specific funding rates as shown in the attached image.

BlockBeats Note: Funding Rate is a fee set by cryptocurrency trading platforms to maintain balance between the contract price and the underlying asset price, usually applicable to perpetual contracts. It is a funding exchange mechanism between long and short traders, with the trading platform not collecting 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.