The current mainstream CEX, DEX funding rate display indicates an overall bearish market, with multiple trading platforms showing a negative BTC funding rate

BlockBeats News, February 8th, according to Coinglass data, Bitcoin has risen above $70,000, but funding rate data shows that the current market is still bearish overall, with multiple exchanges showing a negative BTC funding rate, indicating that shorts are paying fees to longs to maintain their positions. Most exchanges have a positive ETH funding rate but below the 0.005% threshold, indicating a more bearish sentiment compared to BTC.

BlockBeats Note: Funding Rate is a fee set by cryptocurrency exchanges to balance the contract price with the underlying asset price, usually applicable to perpetual contracts. It is a fund exchange mechanism between long and short traders, and the exchange does not collect 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 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.