Funding Rates from Major Exchanges Show Reduced Bearish Sentiment on BTC and SOL, Altcoins Still Face Market Skepticism

Market Overview

Recent data shows Bitcoin faced resistance near the $90,000 mark and is currently trading at $89,627. Market sentiment towards BTC and SOL has shown noticeable improvement, with funding rates indicating reduced bearish pressure on these assets.

Understanding Funding Rates

Funding rates are a mechanism used in perpetual crypto contracts to align prices with spot markets. Rates above 0.01% suggest bullish sentiment, while rates below 0.005% indicate strong bearish tendencies among traders.

Altcoin Struggles

While BTC and SOL show signs of improved short-term outlook, most altcoins continue to face significant bearish pressure according to current funding rate indicators across major exchanges.