Despite a clear market rebound, the funding rate still reflects a strong bearish sentiment in the market

BlockBeats News, February 7th, according to Coinglass data, despite a significant market rebound since yesterday morning, with Bitcoin rising from $60,000 to nearly $70,000, the current mainstream CEX and DEX funding rates show that the market sentiment remains bearish, as shown in the specific funding rates in the attached image.

BlockBeats Note: Funding Rate is a fee set by cryptocurrency trading platforms to maintain the 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, and the trading platform does not charge 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 above 0.01%, it indicates a generally bullish market sentiment. When the Funding Rate is below 0.005%, it indicates a generally bearish market sentiment.