BlockBeats reports that according to Coinglass data from March 31, the cryptocurrency market has rebounded: Bitcoin is trading at $68,171.00, up 2.34% over 24 hours; Ethereum is trading at $2,079.76, up 3.53% over 24 hours. According to current funding rates on major CEX and DEX platforms, bearish sentiment for ETH has significantly weakened compared to the previous period, but BTC lags behind — on many platforms, the funding rate for BTC remains negative, indicating a substantial divergence between the two assets.

Specifically, on several platforms, the funding rate for ETH has already returned to the baseline level of +0.0100%, and the overall number of sell signals has decreased significantly compared to before. Regarding BTC, on some platforms, the rate is still in the negative zone — sellers continue to pay buyers a fee to maintain their positions; on certain platforms, the rate has turned positive but is still below the threshold of 0.005%, meaning it has not returned to a neutral level. The specific funding rates for major cryptocurrencies are shown in the attached chart.

BlockBeats note: (Funding rates) refer to the fees set by crypto trading platforms to maintain balance between the contract price and the underlying asset price; this typically applies to perpetual contracts. It is a mechanism for exchanging funds between longs and shorts, and the platform does not charge these fees for its own profit. The goal is to adjust costs or gains for participants so that the contract price closely aligns with the underlying asset price.

If the funding rate is 0.01%, it indicates the baseline level. If the funding rate exceeds 0.01%, the market is predominantly bullish. If the funding rate is below 0.005%, it indicates that bearish sentiment dominates the market.