Current mainstream CEX and DEX funding rates show that bearish sentiment in the market has eased.
BlockBeats reported on April 6 that, according to Coinglass data, as Bitcoin surged above $69,000 today, funding rates on major CEXs and DEXs indicate that bearish sentiment in the market has weakened. Specific funding rates are shown in the attached image.
BlockBeats note: Funding rates are fees set by cryptocurrency trading platforms to maintain balance between contract prices and underlying asset prices, typically applicable to perpetual contracts. They serve as a mechanism for fund exchange between long and short traders. The trading platform does not collect this fee; it is used to adjust the cost or yield of holding contracts in order to keep contract prices close to the underlying asset price.
When the funding rate is 0.01%, it represents the base rate. When the funding rate is greater than 0.01%, it indicates that the market is generally bullish. When the funding rate is less than 0.005%, it indicates that the market is generally bearish.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Barclays: Bloom Energy (BE.US) demand turning point is steeper than expected, rating raised to "Buy"
Barclays has upgraded Bloom Energy’s rating from "equal weight" to "overweight," setting a target price of $289.
Competitor turns supplier as the "new owner"! Bank of America: Marvell Technology's acquisition of Lumentum may prompt Cisco and Ciena to seek other sources
Bank of America analysts stated that Marvell Technology's acquisition of Lumentum may prompt Ciena and Cisco to diversify their optical component suppliers.
Goldman Sachs traders warn of an "invisible bear market": S&P 500 is only 3% away from its all-time high, but 60% of its constituent stocks have entered bear market territory.
The S&P 500 Index is only about 3% away from its latest record high, but 60% of the constituent stocks in this benchmark index are deeply entrenched in bear market territory.
Crypto prices
More
