BlockBeats News, March 16th, according to Coinglass data, this morning the crypto market continued last week’s rebound momentum and showed an accelerated upward trend. At the time of writing, Bitcoin briefly broke through $74,000 and is now trading at $73,633.85. Ethereum is currently trading at $2,236.33, with a 24-hour gain of 6.8%.
Amid the current significant market rebound, mainstream CEX and DEX funding rates indicate that market sentiment has begun to shift to neutral. The specific funding rates for mainstream coins are shown in the attached image.
BlockBeats Note: Funding rates are rates set by cryptocurrency trading platforms to maintain balance between the contract price and the underlying asset price, typically applied to perpetual contracts. It is a mechanism for fund transfers between long and short traders, with the trading platform not charging this fee, 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 benchmark 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.
