The crypto market saw a slight rebound, but funding rates indicate BTC and ETH remain in a bearish range.
BlockBeats news, on June 20, according to market data from a certain exchange, Bitcoin is currently priced at $63,671.32, with a 24-hour increase of 1.60%. Ethereum is currently priced at $1,723.81, with a 24-hour increase of 1.64%. The crypto market has experienced a slight rebound, but funding rates show that BTC and ETH remain in bearish territory. Across BTC platforms, rates are all below the threshold and half have turned negative, meaning the price increase has not brought a simultaneous recovery in bullish sentiment. ETH funding rates across all platforms are also in the bearish range, but most remain positive, indicating sentiment is slightly stronger than BTC.
BlockBeats note: Funding rates are rates set by cryptocurrency trading platforms to maintain balance between contract prices and the underlying asset prices, typically applied to perpetual contracts. It is a fund exchange mechanism between long and short traders. Trading platforms do not collect this fee, and it is used to adjust traders' contract holding costs or profits to keep contract prices close to underlying asset prices.
When the funding rate is 0.01%, it indicates the base rate. When the funding rate is greater than 0.01%, it means the market is generally bullish. When the funding rate is less than 0.005%, it means the market is generally bearish.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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