Current mainstream CEX and DEX funding rates indicate a slight easing of bearish sentiment towards BTC and SOL, while significant bearish sentiment towards altcoins still persists

Update (January 24): Per Coinglass data, Bitcoin has failed to break above $90,000 and is currently trading at $89,627. Currently, funding rates across major centralized exchanges (CEX) and decentralized exchanges (DEX) show a slight easing of bearish sentiment toward BTC and SOL, with some platforms returning to neutral rates. However, large-scale bearish sentiment still lingers for altcoins, as evidenced by the funding rates of specific major coins in the attached image. BlockBeats Note: The Funding Rate is a fee set by cryptocurrency exchanges to align contract prices with underlying asset prices, primarily used for perpetual contracts. It’s a funding transfer mechanism between long and short traders—exchanges do not collect this fee themselves. Its purpose is to adjust the cost or profit for traders holding positions, ensuring contract prices stay close to the underlying asset’s value. A Funding Rate of 0.01% serves as the baseline. Rates above 0.01% indicate generally bullish market sentiment, while rates below 0.005% signal generally bearish sentiment.