According to Coinglass data, after a recent correction, the crypto market returned to neutral yesterday. However, with Bitcoin rising back to the key level of $97,000, funding rates on major CEXs and DEXs indicate that the market is attempting to "short" again. BTC funding rates on major platforms have turned bearish, and altcoins are also experiencing negative rates again. Specific funding rates for major cryptocurrencies are shown in the attached chart. Note from Coinglass: Funding rates are fees set by cryptocurrency trading platforms to maintain balance between contract prices and the underlying asset price, typically applicable to perpetual contracts. It is 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 base rate. A funding rate greater than 0.01% indicates a generally bullish market. When the funding rate is less than 0.005%, it indicates that the market is generally bearish.
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