The current funding rates of mainstream CEX and DEX indicate that the market has returned to a fully bearish outlook.

On October 29, according to Coinglass data, the current funding rates of mainstream CEX and DEX show that after the fall in the early hours of today, market participants' bearish sentiment towards alts has intensified, and Bitcoin's funding rate has similarly fallen from neutral to bearish territory. The specific funding rates are shown in the figure below. BlockBeats note: Funding rates are fees set by cryptocurrency trading platforms to maintain the balance between contract prices and the prices of underlying assets, usually applicable to Perptual Futures. It is a mechanism for the exchange of funds between long and short traders, and trading platforms do not charge this fee, which is used to adjust the cost or return of the contracts held by traders, to keep the contract price close to the price of the underlying asset. When the funding rate is 0.01%, it indicates the Benchmark rate. When the funding rate is greater than 0.01%, it represents a generally bullish market. When the funding rate is less than 0.005%, it indicates a generally bearish market.