Current Mainstream CEX and DEX Funding Rates Indicate Continued Market Bearish Sentiment

On April 22, according to Coinglass data, Bitcoin surged past $77,000, while current mainstream CEX and DEX funding rates indicate that the market remains broadly bearish, as shown in the attached chart. Note from BlockBeats: Funding rates are set by cryptocurrency trading platforms to maintain a balance between contract prices and the prices of underlying assets, typically applicable to perpetual contracts. It serves as a mechanism for the exchange of funds between long and short traders, and trading platforms do not charge this fee. Instead, it adjusts the cost or profit of traders holding contracts to keep contract prices close to the prices of the underlying assets. A funding rate of 0.01% indicates a baseline rate. When the funding rate is above 0.01%, it signifies a generally bullish market. Conversely, when the funding rate is below 0.005%, it indicates a generally bearish market.