BlockBeats News, March 29th, according to Coinglass data, Bitcoin is currently trading at $66,699.75, with a 24-hour change of 0.24%; Ethereum is currently trading at $2,005.49, with a 24-hour change of 0.08%. The current mainstream CEX, DEX funding rates indicate a bearish signal for BTC and ETH, while market sentiment remains subdued.
Specifically, the ETH funding rate is negative on most platforms including Binance, while platforms like OKX, although positive, are all below the 0.005% threshold, indicating an overall bearish range. On the BTC side, multiple platforms like Binance are negative, with shorts continuing to pay fees to longs to maintain their positions. The funding rates for specific mainstream coins are as shown in the attached image.
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 in line with 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.
