BlockBeats News, February 23, according to Coinglass data, as Bitcoin briefly dropped below $65,000 today, the current funding rates of mainstream CEX and DEX indicate that the market has once again turned fully bearish, with specific funding rates shown in the attached image.

BlockBeats Note: Funding rates are the fees set by cryptocurrency trading platforms to maintain the balance between contract prices and the underlying asset prices, typically applicable to perpetual contracts. It is a mechanism for the exchange of funds between long and short traders, and the trading platform does not charge this fee, which is used to adjust the cost or profit of the contracts held by traders, in order to keep the contract prices close to the underlying asset prices.

When the funding rate is 0.01%, it represents the benchmark rate. When the funding rate is greater than 0.01%, it indicates that the market is generally bullish. When the funding rate is less than 0.005%, it indicates that the market is generally bearish.