Current mainstream CEX, DEX, and funding rate displays show that market short-selling sentiment has weakened

On May 4th, according to Coinglass data, as Bitcoin strongly broke through the $80k mark, the current mainstream CEX and DEX funding rates show a significant weakening of market short-selling sentiment, with specific funding rates shown in the attached chart.

BlockBeats Note: Funding rate is a rate set by cryptocurrency trading platforms to maintain the balance between contract prices and the underlying asset prices, usually applicable to perpetual contracts. It is a mechanism for fund exchange between long and short traders; the trading platform does not charge this fee, and it is used to adjust the costs or gains for traders holding contracts to keep the contract price close to the underlying asset price.

When the funding rate is 0.01%, it indicates the baseline rate. When the funding rate is greater than 0.01%, it signifies a generally bullish market. When the funding rate is less than 0.005%, it indicates a generally bearish market.