The cryptocurrency market is rebounding, and the funding rates indicate that bearish sentiment for ETH is easing, while the funding rates for BTC on multiple platforms remain negative

According to Coinglass data, the cryptocurrency market has rebounded, with btc-42">Bitcoin currently priced at $68,171, a 24-hour increase of 2.34%; Ethereum is currently priced at $2,079.76, a 24-hour increase of 3.53%. Current funding rates on mainstream CEX and DEX platforms show that bearish sentiment for ETH has eased compared to before, while BTC is relatively lagging behind, with multiple platforms still showing negative funding rates for BTC, indicating a clear divergence between the two.

Specifically, the funding rate for ETH has returned to the +0.01% benchmark level on several platforms, significantly narrowing the overall bearish signals compared to earlier. For BTC, several platforms, including Binance, still have rates in the negative range, with shorts continuously paying fees to longs to maintain their positions; although some platforms have turned positive, they remain below the 0.005% threshold and have not yet returned to neutral. The specific funding rates for mainstream cryptocurrencies are shown in the attached image.

Note: Funding rates are the rates set by cryptocurrency trading platforms to maintain the balance between contract prices and the prices of the underlying assets, 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; it is used to adjust the cost or profit of the contracts held by traders to keep the contract prices close to the prices of the underlying assets. When the funding rate is 0.01%, it indicates the benchmark rate. When the funding rate is greater than 0.01%, it represents a generally bullish market. When the funding rate is less than 0.005%, it represents a generally bearish market.