The crypto market has fallen back to lows, and the current mainstream CEX and DEX funding rates indicate that market sentiment remains subdued.

BlockBeats message, April 3, according to Coinglass data, the crypto market weakened after Trump’s speech and returned to lower levels. Bitcoin is currently trading at $66,435, down 0.55% over the past 24 hours; Ethereum is currently trading at $2,048, down 0.53% over the past 24 hours. Current mainstream CEX and DEX funding rate data shows that bearish sentiment for BTC and ETH has eased compared with earlier, but funding rates on major trading platforms are still negative, and the two have not shown any clear divergence. The specific funding rates for major cryptocurrencies are shown in the attached image.

BlockBeats note: Funding rates are fees set by crypto trading platforms to maintain a balance between the contract price and the price of the underlying asset; they are typically used for perpetual futures. They are a mechanism for exchanging funds between long and short traders. The trading platform does not charge this fee; it is used to adjust traders’ contract holding costs or profits, so that the contract price stays close to the underlying asset price.

When the funding rate is 0.01%, it indicates the benchmark funding rate. When the funding rate is greater than 0.01%, it means the market is generally bullish. When the funding rate is less than 0.005%, it means the market is generally bearish.