Data: The funding rates of mainstream exchanges have turned negative, with Binance's BTC funding rate dropping to -0.0009%

ChainCatcher news, according to Coinglass data, as the price of Bitcoin continues to decline, the funding rates for perpetual contracts on major exchanges have turned negative, reflecting a shift in market sentiment towards bearishness. Among them, the BTC funding rate on the Binance platform has dropped to -0.0009%, and the BTC funding rate on the OKX platform has fallen to -0.0022%.

Analysts point out that a brief turn to negative funding rates for Bitcoin usually indicates the formation of a "local bottom." Historical data shows that when funding rates shift from positive to negative, it is often accompanied by leveraged liquidations and a change in market sentiment. However, this signal needs to be assessed in conjunction with other technical indicators and should not be simply regarded as a market bottom signal.