Bearish Sentiment Grips Cryptocurrency Market as Funding Rates Turn Negative

Coinglass data reveals a bearish sentiment in the cryptocurrency market, with a lack of substantial movement over the weekend. Funding rates across major exchanges—both centralized and decentralized (CEX & DEX) – remain predominantly negative, signaling a pessimistic outlook. 🤔 These rates, used by trading platforms to maintain balance between contract prices and underlying asset prices (typically applied to perpetual contracts), facilitate fund exchange between long and short traders without platform fees to adjust the cost or profit of holding contracts, ensuring these contracts stay close to the asset price.