BlockBeats News, on February 6, according to Coinglass data, the Bitcoin decline continued, once touching the 60,000 USD round level. Currently, mainstream CEX and DEX funding rates indicate the market has once again turned entirely bearish, with specific funding rates shown in the attached figure.
BlockBeats Note: Funding rates are rates set by cryptocurrency exchanges to maintain the balance between the contract price and the underlying asset price, typically applied to perpetual contracts. It is a mechanism for the exchange of funds between long and short traders, and the exchange does not charge this fee. It is used to adjust the cost or profit of traders holding contracts, so that the contract price remains close to the underlying asset price.
When the funding rate is 0.01%, it indicates the benchmark rate. When the funding rate is higher than 0.01%, it represents a generally bullish market. When the funding rate is lower than 0.005%, it represents a generally bearish market.