Compared to the recent market crash, Bitcoin and Ethereum contract funding rates are still bullish, according to data from CoinGlass reported by Decrypt. On Tuesday morning, the Bitcoin open contract funding rate was 0.0024%. This indicates that there are more traders opening long positions than short positions. Therefore, based on Bitcoin derivatives activity, the current market sentiment is still slightly more positive than negative. This also suggests that traders holding long positions believe that their profits will eventually exceed the funding costs, and the price drop has not completely eliminated their bullish sentiment.
