BlockBeats message, April 7, according to Coinglass data, as Bitcoin made a slight rebound and once briefly broke above $69k, the current mainstream CEX and DEX funding rates show that the market is maintaining an overall bearish stance; the specific funding rates are shown in the attached image.
BlockBeats Note: Funding rate is the fee set by cryptocurrency trading platforms to maintain a balance between the contract price and the price of the underlying asset; it is typically used for perpetual contracts. It is a mechanism for the exchange of funds between long and short traders. The trading platform does not collect this fee; it is used to adjust the cost or profit of traders holding contracts, so that the contract price stays close to the underlying asset price.
When the funding rate is 0.01%, it indicates the benchmark funding rate. When the funding rate is greater than 0.01%, it means the market is generally bullish. When the funding rate is less than 0.005%, it means the market is generally bearish.
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