العملات الرئيسية تتعرض لضغوط جماعية، وإشارة معدل التمويل تكشف عن موقف السوق المتشائم

【区块律动】 tonight the cryptocurrency market shows another decline, with Bitcoin experiencing a short-term drop of over 0.5%, approaching recent lows, while Ethereum’s decline is even sharper, breaking 1%, and struggling to hold above the $2900 level.

According to on-chain data monitoring, the funding rates on mainstream exchanges and DEXs are generally turning negative — this is a signal worth paying attention to. On a major exchange, the funding rates for Ethereum and SOL have already turned clearly negative, indicating that market participants’ short-selling enthusiasm is significantly increasing, and the costs for long positions are rising.

To briefly explain what the funding rate is: it is a mechanism for transferring funds between long and short positions in perpetual contracts, with no commission taken by the trading platform itself. By adjusting the rate, it balances the forces of longs and shorts in the market, making the contract price closer to the spot price.

Numerically, 0.01% is a baseline. A rate above 0.01% indicates a bullish market sentiment; conversely, a rate below 0.005% suggests that the bearish sentiment is outweighing the bullish. Currently, most cryptocurrencies’ rates have fallen into negative territory, indicating that short sellers are profiting while longs are losing money — the market’s balance has clearly tilted.

The three major assets BTC, ETH, and SOL are all cooling off simultaneously, with funding rates in a state of emergency, amplifying short-term market uncertainty.