On March 4th, according to Coinglass data, Bitcoin made a strong rebound, rising above $71,000. Currently, the funding rates for major CEX and DEX platforms have turned positive, approaching neutrality, and the bearish sentiment has significantly eased. Specific funding rates for major cryptocurrencies are shown in the attached chart.

BlockBeats Note: Funding rates are fees set by cryptocurrency trading platforms to maintain the balance between contract prices and the underlying asset prices, typically applicable to perpetual contracts. It is a mechanism for the exchange of funds between long and short traders; the trading platform does not charge this fee. It is used to adjust the costs or gains for traders holding contracts, ensuring that the contract price remains close to the underlying asset price.

When the funding rate is 0.01%, it indicates the baseline rate. When the funding rate exceeds 0.01%, it signifies a generally bullish market. When the funding rate is below 0.005%, it indicates a generally bearish market.