Current mainstream CEX and DEX funding rates show that the bearish momentum for BTC and ETH is weakening, with market sentiment leaning towards neutral to bearish.
BlockBeats News, July 5th, according to Coinglass data, the current mainstream CEX and DEX funding rates show that the bearish sentiment for BTC and ETH has weakened compared to before, but most platforms have not yet formed a sustained bullish signal. Specifically, the BTC funding rate on multiple platforms is around the 0.0100% benchmark, presenting an overall neutral to weak bias. On the ETH side, the funding rates on multiple platforms have surpassed the 0.005% threshold, with ETH's bullish sentiment recovery slightly stronger than BTC's, but a comprehensive bullish signal has not yet formed.
BlockBeats Note: The funding rate is a rate set by cryptocurrency exchanges to maintain the balance between the contract price and the price of the underlying asset, 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 close to the price of the underlying asset.
When the funding rate is 0.01%, it represents the benchmark rate. When the funding rate is greater than 0.01%, it indicates a generally bullish market. When the funding rate is less than 0.005%, it indicates a generally bearish market.
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.
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