Funding Rate Insights: Mainstream cryptocurrencies are bearish, Bitcoin remains neutral

【Blockchain Rhythm】On January 5th, on-chain data shows some interesting insights. According to the latest monitoring by Coinglass, after this wave of market rebound, the funding rates of CEX and DEX have shown a clear divergence—altcoins are almost entirely bearish, while Bitcoin remains neutral.

Specifically, the funding rates of mainstream cryptocurrencies vary significantly. This reflects the true expectations of market participants. To prevent the contract prices from deviating too far from spot prices, trading platforms use the funding rate mechanism to let long and short sides adjust their costs. Simply put, this money circulates among traders, and the platform does not take a cut.

How to interpret the rates? The benchmark is 0.01%. Rates above this level indicate a bullish market, while below 0.005% suggest that short-selling sentiment is dominant. From the current data, altcoins show a much stronger shorting force, whereas Bitcoin appears quite balanced—neither extreme bullish consensus nor strong bearish sentiment. This divergence is quite noteworthy, indicating that market attitudes toward different assets vary greatly.