Gate News reports that on March 22, according to Coinglass data, Bitcoin is currently priced at $69,275.33, down 1.93% over the past 24 hours; Ethereum is at $2,103.95, down 2.18% over the same period. The current mainstream CEX and DEX funding rates indicate a bearish market overall, with a clear dominance of bears. BTC and ETH funding rates on several platforms, including certain CEXs, are negative, with bears continuously paying longs to maintain their positions.
Funding rates are fees set by cryptocurrency trading platforms to keep perpetual contract prices aligned with the underlying asset prices. They are typically used for perpetual contracts. It is a mechanism for transferring funds between long and short traders, with the platform not charging this fee. Instead, it adjusts the cost or profit for traders holding contracts. A funding rate of 0.01% indicates the baseline rate; rates above 0.01% suggest a generally bullish market; rates below 0.005% indicate a generally bearish market.
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