ChainCatcher news, according to Coinglass data, Bitcoin remains in a range-bound oscillation, with a short-term rebound breaking above $70,000. Currently, mainstream CEX and DEX funding rates indicate the market has once again shifted to a bearish outlook, with specific funding rates shown in the attached chart.
Funding rates are fees set by cryptocurrency trading platforms to maintain the balance between contract prices and the underlying asset prices, typically applicable to perpetual contracts. They serve as a mechanism for fund exchanges between long and short traders; the trading platform does not charge this fee. The purpose is to adjust the cost or profit for traders holding contracts, keeping the contract price close to the underlying asset price. A funding rate of 0.01% indicates the baseline rate. When the funding rate exceeds 0.01%, it signifies a generally bullish market. When the funding rate is below 0.005%, it indicates a generally bearish market.
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