Judging from funding rates on major CEXs and DEXs: BTC and ETH funding rates remain broadly positive.

However, funding rates for some assets, including SOL and XRP, have already turned negative, indicating relatively stronger short sentiment in these derivatives markets. This reflects that large capital still has some demand for mainstream assets, but is clearly more cautious toward certain highly volatile sectors.

However, negative funding rates do not necessarily mean prices will fall. On the contrary, after shorts become crowded, a reverse squeeze may occur. This only indicates that market sentiment is weakening, but it has not yet reached the point where all assets are uniformly bearish.#Gate广场中秋团圆局