Crypto Market Returns to Lows, Current mainstream CEX, DEX funding rates show market sentiment still subdued

BlockBeats News, April 3rd, according to Coinglass data, the crypto market weakened and returned to a low level after Trump's speech. Bitcoin is currently trading at $66,435, down 0.55% in the past 24 hours; Ethereum is trading at $2,048, down 0.53% in the past 24 hours. The current mainstream CEX and DEX funding rates show that the bearish sentiment for BTC and ETH has eased compared to before, but the funding rates on mainstream exchanges are still negative, with no significant differentiation between the two. Specific funding rates for mainstream coins are shown in the attached image.

BlockBeats Note: Funding Rate is a rate set by cryptocurrency exchanges to maintain the balance between contract prices and the underlying asset prices, usually applicable to perpetual contracts. It is a fund exchange mechanism 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 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.