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📰 【Current mainstream CEX and DEX funding rate displays a significant weakening of the bearish market trend】
BlockBeats news, April 14, according to Coinglass data, as Bitcoin today broke above $74k, the funding rates on major centralized exchanges (CEX) and decentralized exchanges (DEX) show that the bearish sentiment has significantly weakened and largely returned to neutral funding levels, as detailed in the attached chart. BlockBeats note: The funding rate is a mechanism set by cryptocurrency trading platforms to maintain the balance between contract prices and the underlying asset prices, typically used in perpetual contracts. It serves as a channel for funding between long and short traders; the trading platform itself does not charge this fee. Its purpose is to adjust the cost or benefit of holding contracts to keep contract prices aligned with spot market prices.
This funding rate thing, rapidly converging from extreme bearishness to neutrality, indicates that the shorts have been squeezed almost completely. $BTC with Bitcoin at 74k, the explosive move has already happened early. This data can only tell you that the most panic-stricken period may be over, but it certainly doesn’t mean the road ahead is smooth. The market is always looking for the next weak point.
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