BlockBeats news, on February 13, according to Coinglass data, Bitcoin remains in a range-bound consolidation, with current funding rates on major CEXs and DEXs indicating a weakening bearish sentiment in the market, as shown in the attached funding rate chart.
BlockBeats Note: Funding rates are fees set by cryptocurrency trading platforms to maintain alignment between contract prices and the prices of underlying assets, typically applicable to perpetual contracts. They serve as a mechanism for the exchange of funds between long and short traders; the platform does not collect these fees, but rather uses them to adjust traders’ costs or returns on holding contracts, ensuring that contract prices remain close to those of the underlying assets.
A funding rate of 0.01% represents the baseline rate. When the funding rate exceeds 0.01%, it indicates that the market is generally bullish. When the funding rate is below 0.005%, it indicates that the market is generally bearish.