BlockBeats news, on March 29, according to Coinglass data, Bitcoin is currently priced at $66,699.75, with a 24-hour increase of 0.24%; Ethereum is currently priced at $2,005.49, with a 24-hour increase of 0.08%. Current funding rates on major CEX and DEX platforms show that bearish signals for BTC and ETH persist, and market sentiment remains subdued.
Specifically, the funding rate for ETH on most platforms, including Binance, recorded negative values. Although platforms like OKX showed positive values, they remained below the 0.005% threshold, indicating an overall bearish range. For BTC, multiple platforms, including Binance, showed negative rates, with shorts continuously paying fees to longs to maintain positions. The funding rates for mainstream cryptocurrencies are shown in the attached image.
BlockBeats note: Funding rates are the rates set by cryptocurrency trading platforms to maintain a balance between contract prices and the prices of the underlying assets, usually applicable to perpetual contracts. It is a mechanism for the exchange of funds between long and short traders, and trading platforms do not collect this fee; it is used to adjust the costs or profits of traders holding contracts to keep contract prices close to the prices of the underlying assets.
When the funding rate is 0.01%, it indicates the benchmark rate. When the funding rate is greater than 0.01%, it represents a generally bullish market. When the funding rate is less than 0.005%, it indicates a generally bearish market.
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