ChainCatcher News, according to Coinglass data, Bitcoin’s attempt to break $90,000 was thwarted, currently trading at $89,627. Currently, mainstream CEX and DEX funding rates show a easing of bearish sentiment towards BTC and SOL, with some trading platforms returning to neutral rates. However, large-scale bearish sentiment towards altcoins still persists, with specific funding rates for major cryptocurrencies shown in the attached chart.
Note: Funding rates are fees set by cryptocurrency trading platforms to maintain the balance between contract prices and the underlying asset prices, typically applicable to perpetual contracts. It is a mechanism for exchanging funds between long and short traders; the trading platform does not charge this fee. It is used to adjust the cost or yield for traders holding contracts, keeping the contract price close to the underlying asset price. When the funding rate is 0.01%, it indicates the baseline rate. When the funding rate exceeds 0.01%, it signifies a generally bullish market. When the funding rate is below 0.005%, it indicates a generally bearish market.
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