Funding rates on major CEX and DEX turn broadly bearish after BTC fails to hold above $90,000

Bitcoin briefly rose above $90,000 on Dec. 23 before retreating to around $87,000, and funding rates on major centralized and decentralized exchanges have shifted back toward a broadly bearish stance, Coinglass data show. Only BTC and ETH contract pairs on Binance and Bitget are still showing neutral funding, while platforms such as OKX and Bybit have seen rates fall into bearish territory. Funding rates on perpetual contracts are a fee mechanism between long and short traders designed to keep contract prices close to spot; a 0.01% rate is viewed as the baseline, readings above 0.01% indicate a generally bullish market, and levels below 0.005% signal broadly bearish positioning.