The current mainstream CEX, DEX funding rate display shows that the market is still predominantly bearish, with multiple exchanges showing a negative BTC funding rate.

BlockBeats News, February 8th, according to Coinglass data, Bitcoin has rebounded to above $70,000, but funding rate data shows that the current market is still overall bearish. Several exchanges have a negative BTC funding rate, with shorts paying fees to longs to maintain their positions. Most exchanges have a positive ETH funding rate, but it is below the 0.005% threshold, indicating a more bearish sentiment compared to BTC.

BlockBeats Note: Funding Rate is a fee set by cryptocurrency exchanges to maintain balance between the contract price and the underlying asset price, usually applicable to perpetual contracts. It is a fund exchange mechanism between long and short traders, where the exchange itself does not charge this fee. Instead, it is used 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.