According to BlockBeats, on February 24th, Coinglass data showed that Bitcoin fell below $63,000 again this morning. Current funding rates on major CEXs and DEXs indicate a continued bearish market, although funding rates on most platforms have returned to positive territory. 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. They are typically applied 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. A funding rate less than 0.005% indicates a generally bearish market.