The current funding rates of mainstream CEX and DEX show that the market is still broadly bearish.

On November 23, according to Coinglass data, the current funding rates for mainstream CEX and DEX show that although the crypto market has seen a rebound in the past two days, participants still maintain a fully bearish stance, with almost all asset trading pairs having negative funding rates. BlockBeats notes: Funding rates are the rates set by crypto assets trading platforms to maintain the balance between contract prices and the prices of underlying assets, typically applicable to Perpetual Futures. It is a mechanism for fund exchange between long and short traders, and the trading platform does not charge this fee; it is used to adjust the costs or returns of traders holding contracts to keep contract prices close to the prices of underlying assets. When the funding rate is 0.01%, it represents the benchmark rate. When the funding rate is greater than 0.01%, it indicates that the market is generally bullish. When the funding rate is less than 0.005%, it indicates that the market is generally bearish.