Current CEX and DEX Funding Rates Indicate Significant Weakening of Bearish Market Sentiment

On April 28, according to Coinglass data, as Bitcoin experienced a slight decline, the current funding rates of mainstream CEX and DEX platforms indicate a significant weakening of bearish market sentiment, as shown in the attached chart. Note from BlockBeats: Funding rates are fees set by cryptocurrency trading platforms to maintain the balance between contract prices and the prices of the underlying assets, typically applicable to perpetual contracts. It serves as a mechanism for the exchange of funds between long and short traders, and the trading platform does not charge this fee. Instead, it adjusts the costs or profits for traders holding contracts to keep the contract prices close to the prices of the underlying assets. A funding rate of 0.01% indicates the benchmark rate. When the funding rate is greater than 0.01%, it signifies a generally bullish market. Conversely, when the funding rate is less than 0.005%, it indicates a generally bearish market.