European and US stocks fall before market open, bearish sentiment dominates the market again.
BlockBeats News, March 2, according to Coinglass data, due to the turmoil in geopolitical situations, European stocks opened sharply lower and performed poorly during trading, and the three major U.S. stock indexes also fell before the market opened. The current funding rates on mainstream CEX and DEX platforms indicate that the market has once again turned fully bearish (on Sunday, it briefly rebounded to neutral). The specific funding rates for mainstream 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 underlying asset prices, usually applied to perpetual contracts. It is a mechanism for capital exchange between long and short traders; the trading platform does not collect this fee. It is used to adjust the cost or profit of traders holding contracts, so that contract prices remain close to underlying asset prices.
When the funding rate is 0.01%, it represents the benchmark rate. When the funding rate is greater than 0.01%, it indicates that the market is generally bullish. When the funding rate is less than 0.005%, it indicates that the market is generally bearish.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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