Bearish Market Sentiment Persists as Funding Rates Signal Downtrend

Market sentiment remains firmly bearish, according to data from Coinglass, as funding rates on both centralized and decentralized exchanges point towards a downtrend. BlockBeats has compiled the accompanying chart detailing funding rates for mainstream cryptocurrencies. 💰 📈 These fees, set by trading platforms to maintain balance between contract prices and the prices of underlying assets, typically applied to perpetual contracts, facilitate the exchange of funds between long and short traders without platform charges. 🤝 They serve to adjust the cost or profit of holding contracts, ensuring that they remain closely aligned with asset values.