The crypto market experiences a slight rebound, but funding rates indicate that BTC and ETH remain in a bearish range.

BlockBeats News, July 26 — According to data from an exchange, Bitcoin is currently trading at $64,314.13, up 0.44% in the past 24 hours; Ethereum is trading at $1,878.63, up 1.16% in the past 24 hours. Despite the slight rebound in the crypto market, sentiment in the perpetual contracts market remains weak.

Latest data from CoinGlass shows that BTC's open interest and trading volume weighted funding rates are 0.0043% and 0.0029% respectively, but funding rates on some trading platforms have returned to neutral; ETH's rates are 0.0028% and 0.0018% respectively, both below the bearish threshold of 0.005%, indicating stronger bearish sentiment for ETH compared to BTC.

BlockBeats note: Funding rates are the rate set by cryptocurrency trading platforms to keep the price of perpetual contracts in line with the underlying asset’s price, serving as a mechanism for capital exchange between long and short traders. Trading platforms do not charge this fee. A funding rate of 0.01% represents the benchmark rate; above 0.01% signals bullish market sentiment, while below 0.005% indicates bearish market sentiment.