Market Sentiment Remains Bearish as Funding Rates Indicate Downtrend

According to BlockBeats, data from Coinglass reveals that the current funding rates on major centralized and decentralized exchanges suggest a bearish market sentiment. The funding rates for key cryptocurrencies are detailed in the accompanying chart. Funding rates are fees set by cryptocurrency trading platforms to maintain a balance between contract prices and the prices of underlying assets, typically applied to perpetual contracts. This mechanism facilitates the exchange of funds between long and short traders, without the platform collecting the fee, to adjust the cost or profit of holding contracts and keep contract prices aligned with asset prices source: https://www.binance.com/en/square/post/26319782831274?utm_source=BinanceNewsRSS