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Market Bearish Sentiment Weakens as Funding Rates on Major CEXs and DEXs Stabilize
On April 4th, according to Coinglass data, as Bitcoin maintains its range-bound fluctuations, current funding rates on major centralized exchanges (CEXs) and decentralized exchanges (DEXs) indicate a weakening of bearish market sentiment. Specific funding rates are illustrated in the attached figure. BlockBeats Note: Funding rates are fees set by cryptocurrency trading platforms to maintain the balance between contract prices and underlying asset prices, typically applied to perpetual contracts. 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 cost or profit of traders holding contracts, so as to keep the contract price close to the underlying asset price. 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.