The current mainstream CEX and DEX funding rate indicates a more bearish sentiment towards altcoins, with Bitcoin's rate returning to neutral.

On October 23rd, according to Coinglass data, the current funding rates of mainstream CEX and DEX show that after experiencing a nearly 2-day "painting the door" market movement, the bearish trend of altcoins has intensified. Nevertheless, the Bitcoin funding rate has returned to a neutral state. The specific funding rates are presented in the following graph. BlockBeats Note: The funding rate is a fee set by cryptocurrency exchanges to maintain the balance between the contract price and the underlying asset price. It is usually applicable to perpetual contracts and is a fund exchange mechanism between long and short traders. The trading platform does not charge this fee. It is used to adjust the cost or profit of traders holding contracts to keep the contract price close to the underlying asset price. When the funding rate is 0.01%, it represents the baseline rate. When the funding rate is above 0.01%, it indicates a generally bullish market sentiment. When the funding rate is below 0.005%, it indicates a generally bearish market sentiment.