Current mainstream CEX and DEX funding rate displays show that market sentiment is no longer bearish

BlockBeats News, March 16th, according to Coinglass data, this morning the crypto market continued last week's rebound momentum and showed an accelerating uptrend. At the time of writing, Bitcoin briefly broke through $74,000, currently trading at $73,633.85. Ethereum is currently trading at $2,236.33, with a 24-hour gain of 6.8%.

Amid the significant market rebound, mainstream CEX and DEX funding rates indicate that market sentiment has started to shift to neutral. The funding rates for specific mainstream coins are shown in the attached image.

BlockBeats Note: Funding rates are rates set by cryptocurrency exchanges to maintain the balance between the contract price and the underlying asset price, typically used in perpetual contracts. It is a funding exchange mechanism between long and short traders, with the exchange not charging 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 sentiment. When the funding rate is below 0.005%, it indicates a generally bearish market sentiment.