Bitcoin funding rates have rebounded, and bearish sentiment has cooled

According to coinank data, Bitcoin's price has weakened, struggling at the $70,000 mark, but the funding rates for Bitcoin perpetual contracts on mainstream CEXs and DEXs have clearly rebounded, indicating that market bearish sentiment has eased compared to earlier, and the strength of the bears is marginally weakening.

The funding rate is a mechanism in perpetual contracts where both long and short parties pay each other, used to anchor the contract price to the spot price. A funding rate of 0.01% is the benchmark rate; greater than 0.01% indicates a bullish market; less than 0.005% indicates a bearish market. The current rebound in funding rates reflects a cooling of bearish sentiment.

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