The funding rate data shows: the market sentiment of mainstream exchanges is leaning towards bearish.

[Coin World] According to data from the platform, the funding rates of mainstream CEX and DEX show that the market is almost entirely bearish. The funding rate is a rate set by cryptocurrency trading platforms to maintain the balance between the contract price and the underlying asset price, usually applicable to perpetual futures. It is a funding exchange mechanism between long and short traders, and trading platforms do not charge this fee; it is used to adjust the cost or profit of traders holding contracts to keep the contract price close to the underlying asset price. When the funding rate is 0.01%, it indicates the benchmark rate. When the funding rate is greater than 0.01%, it signifies a generally bullish market. When the funding rate is less than 0.005%, it indicates a generally bearish market.