Bitcoin Slips Below $77,000 as Funding Rates Signal Broad Bearish Sentiment

BlockBeats reported on April 28 that, citing Coinglass data, Bitcoin fell below $77,000. Funding rates across major centralized and decentralized exchanges continue to point to broadly bearish positioning, according to the accompanying chart. BlockBeats note: A funding rate is a fee used by crypto trading venues to keep perpetual contract prices aligned with the underlying spot price. The payment is exchanged between long and short traders, not collected by the platform. It adjusts the cost or yield of holding positions to help keep contract prices close to spot. A 0.01% funding rate is considered a baseline. Readings above 0.01% typically indicate a broadly bullish market, while levels below 0.005% suggest broadly bearish sentiment.