Bearish Market Sentiment Persists: Funding Rates Signal Downtrend

Market analysts are seeing continued signs of pessimism with data from Coinglass revealing that funding rates for major cryptocurrency exchanges, both centralized and decentralized, point to a bearish market trend. This is according to BlockBeats, which reports these funding rates, illustrated in the accompanying data, offer insight into current trading sentiment. 0.01% represents the benchmark rate of funding. Funding rates exceeding this threshold are generally seen as bullish, while rates falling below 0.005% suggest a bearish outlook.