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Current mainstream CEX and DEX funding rates indicate a slight easing of bearish sentiment towards BTC and SOL, while significant bearish sentiment towards altcoins still persists
BlockBeats News Update, January 24th, according to Coinglass data, Bitcoin fell short of $90,000, currently trading at $89,627. Currently, mainstream CEX and DEX funding rates show a slight easing of bearish sentiment towards BTC and SOL, with some exchanges returning to neutral rates. However, large-scale bearish sentiment still exists for altcoins, as shown in the funding rates of specific mainstream coins in the attached image.
BlockBeats Note: Funding Rate is a fee 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, 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 at 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.
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