According to ChainCatcher, Coinglass data shows that Bitcoin's attempt to break $90,000 has stalled, currently trading at $89,627. Current funding rates on major CEXs and DEXs indicate a slight easing of bearish sentiment towards BTC and SOL, with some exchanges returning to neutral rates. However, widespread bearish sentiment towards Altcoin persists. Specific funding rates for major cryptocurrencies are shown in the attached chart.
Note: Funding rates are fees set by cryptocurrency trading platforms to maintain balance between contract prices and the underlying asset prices, typically applicable to perpetual contracts. They serve as a mechanism for exchanging funds between long and short traders. The trading platform does not charge this fee; it is used to adjust the cost or profit of traders holding contracts to keep the contract price close to the underlying asset price. A funding rate of 0.01% represents the benchmark rate. A funding rate greater than 0.01% indicates a generally bullish market. A funding rate less than 0.005% indicates a generally bearish market.
