According to BlockBeats, on February 16th, Coinglass data shows that Bitcoin is maintaining a range-bound trading pattern. Current funding rates on major CEXs and DEXs indicate a generally bearish market. 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.
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