Crypto market posts $1.687B in liquidations as funding rates signal continued bearish sentiment

The crypto market logged $1.687B in liquidations over the past 24 hours amid a broader selloff across global assets, Coinglass data show. Funding rates on major CEXs and DEXs remain largely bearish, with BTC, ETH, SUI and BCH turning slightly positive while most altcoins continue to show stronger short-side sentiment. Funding rates are a fee mechanism between long and short perpetual contract traders designed to keep contract prices close to spot prices, where readings above 0.01% suggest a generally bullish market and levels below 0.005% indicate a generally bearish market, BlockBeats reports.