According to BlockBeats, on February 2nd, data from Coinglass shows that after another dip in the crypto market today, funding rates indicate a generally bearish market sentiment. Bearish sentiment is stronger for BTC and ETH than for altcoins. Currently, funding rates for BTC and ETH contracts are negative on almost all platforms, while altcoin rates, although still bearish, are mostly positive. Specific funding rates are shown in the attached chart. BlockBeats Note: 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.