Current mainstream CEX and DEX funding rate displays altcoin market recovery, but turning bearish on BTC again

BlockBeats News, January 2nd, according to Coinglass data, today, after some altcoins saw a price increase, the current mainstream CEX and DEX funding rates show a recovery in the altcoin market. Some platform altcoin trading pairs have returned to neutral rates. However, as Bitcoin approaches the $90,000 resistance again, the market is starting to turn bearish. Currently, it has not entered into negative funding rate territory. This is in contrast to the situation during the previous market slump (BTC and ETH neutral rates, altcoins universally negative rates). The specific mainstream coin funding rates are shown in the attached image.

BlockBeats Note: Funding rates are rates set by cryptocurrency trading platforms to maintain the balance between the contract price and the underlying asset price, usually applicable to perpetual contracts. It is a mechanism for fund exchanges between long and short traders. The trading platform does not charge this fee but uses it to adjust the cost or profit of traders holding contracts to keep the contract price close to the underlying asset price.

When the funding rate is 0.01%, it represents the baseline rate. When the funding rate is above 0.01%, it indicates a generally bullish market. When the funding rate is below 0.005%, it indicates a generally bearish market.

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