It's over, really over! Current funding rates on major CEXs and DEXs show a completely bearish market.
Funding rates are truly a mirror reflecting market sentiment. Right now, the funding data from CEXs and DEXs basically tells you one thing: everyone has completely lost confidence in altcoins. Bitcoin has barely returned to neutral, but the dire state of altcoins makes it clear that the next few months will be another long bear market bottoming process.
The most ridiculous thing at this time is those still calling for bottom-fishing. Dude, funding rates are this negative, do you think you're smarter than the market?
$POL fell 3.3% today, now at $0.1956. From a technical perspective, there's not much to say. The 7-period EMA is still below the 25 and 99 periods, the short-term bear market pattern remains unchanged. The MACD has also just crossed into bear market territory. With this technical configuration, there should be further downside potential. Trading volume is also shrinking, market sentiment is poor.
@0xPolygon #Polygon