Bearish Market Sentiment Persists as Funding Rates Indicate Downtrend

Market sentiment remains bearish according to BlockBeats data analyzed by Coinglass. The funding rates for major cryptocurrencies, as displayed in the accompanying chart, show continued downtrends. 0.01% generally signifies a baseline rate; however, when the funding rate surpasses this threshold, it signals bullish market sentiment. Conversely, when it falls below 0.005%, it points towards bearish market conditions.