Current mainstream CEX and DEX funding rates show that the Bitcoin rate has returned to neutrality, but the market remains bearish on altcoins.

On October 27th, based on Coinglass data, the current mainstream CEX and DEX funding rates show that after the crypto market witnessed a rebound in the past two days, market participants have heightened their bearish sentiment towards altcoins. Nevertheless, the Bitcoin funding rate has reverted to a neutral state. The specific funding rates are presented in the following chart. BlockBeats Note: Funding rates are rates established by cryptocurrency exchanges to ensure the equilibrium between contract prices and underlying asset prices, typically applicable to perpetual contracts. It is a fund exchange mechanism between long and short traders, and the trading platform does not levy this fee. It is used to adjust the cost or profit of traders holding contracts in order 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 greater than 0.01%, it indicates a generally bullish market. When the funding rate is less than 0.005%, it indicates a generally bearish market.