Cryptocurrency Market Bounce Back, Funding Rate Indicates Bearish Sentiment Still Lingers

BlockBeats News, April 15th, according to HTX market data, Bitcoin is currently trading at $74,489.57, with a 24-hour increase of 0.45%. The current mainstream CEX and DEX funding rates show a continued bearish signal for BTC and ETH, with market sentiment remaining low.

Specifically, the BTC funding rate on major platforms such as Binance has recorded negative values, with shorts continuing to pay fees to longs to maintain their positions, keeping the overall sentiment in the bearish range. On the ETH side, rates on multiple platforms are either below the 0.005% threshold or in negative territory, indicating a generally bearish pattern.

BlockBeats Note: Funding rates are rates set by cryptocurrency exchanges to maintain balance between contract prices and 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 above 0.01%, it indicates a generally bullish market. When the funding rate is below 0.005%, it indicates a generally bearish market.