Current mainstream CEX and DEX funding rates show the market is broadly bearish on alts.

On October 31, according to Coinglass data, the current funding rates of mainstream CEX and DEX show that after experiencing a downturn in recent days, market participants' bearish sentiment towards alts has intensified, while the Bitcoin funding rate has returned to a neutral range, with specific funding rates shown in the figure below. BlockBeats notes: funding rates are the rates set by cryptocurrency trading platforms to maintain the balance between contract prices and underlying asset prices, usually applicable to Perptual Futures. It is a funding exchange mechanism between long and short traders, and trading platforms do not charge this fee; it is used to adjust the cost or profit of traders holding contracts to keep contract prices close to underlying asset prices. 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 represents a generally bearish market.