⚡️ Bitcoin soared to 69K in the early morning, but the funding rate "calmly" revealed the market mystery!
Market vane: CEX and DEX funding rates reveal the mystery of Bitcoin's future trend
Bitcoin surged in the early morning, but the funding rate did not show obvious bullish signals
On October 19, Bitcoin once rose in the early morning and hit a high of $69,000.
However, in contrast to this rise, the funding rates of the current mainstream centralized exchanges (CEX) and decentralized exchanges (DEX) did not show a clear bullish trend.
Overview of mainstream platform funding rates: BTC trading pairs perform differently
Binance: The funding rate is 0.01%, which is at the benchmark rate level, and no obvious bullish or bearish signals are shown.
OKX: The funding rate is also 0.0091%, similar to Binance, and the market attitude tends to be neutral.
dYdX: The funding rate is 0.0501%, slightly higher than the benchmark rate, but it has not yet reached the standard of general bullishness.
bybit: The funding rate is 0.01%, which is also maintained at the benchmark rate level.
Vertex: The funding rate is only 0.001%, showing that the market is relatively bearish on the platform.
Bitget: The funding rate is 0.011%, slightly higher than the benchmark rate, but it has not formed a clear bullish trend.
Interpretation of funding rate: The future market trend is full of mysteries
According to the interpretation standard of funding rate, when the funding rate is greater than 0.01%, it means that the market is generally bullish;
When the funding rate is less than 0.005%, it means that the market is generally bearish. The funding rates of the current mainstream platforms are mostly maintained near the benchmark rate, showing the market's hesitation and uncertainty about the future trend of Bitcoin.
This phenomenon undoubtedly brings more challenges and opportunities to investors, and also indicates that the future market trend will be more confusing.
