Bitcoin drops back to $90,000, multi-chain funding rates indicate a bearish signal

【CryptoPush】The recent trend in the crypto market is quite interesting—after a rebound, it has turned back to the $90,000 level. Data from Coinglass shows that funding rates on both CEX and DEX are generally declining, indicating a clear bearish sentiment for Bitcoin and various altcoins.

Speaking of funding rates, this mechanism is actually set up by exchanges to balance the difference between perpetual contract prices and spot prices. Don’t think of it as a fee charged by the exchange—funding rates are essentially a form of mutual compensation between long and short traders, used to adjust the cost or benefit of holding positions, preventing the contract price from drifting too far away from the spot price.

How to interpret this indicator? A simple and straightforward standard is:

• Funding rate at 0.01% is the baseline
• Above 0.01%? That indicates the market is generally bullish
• Below 0.005%? Most traders are bearish

Currently, the latter is true—funding rates are generally low, reflecting cautious attitudes among market participants about the upcoming trend. This signal can be a useful reference for short-term traders.