Data: The funding rate of mainstream exchanges has turned negative

According to Coinglass data, as the price of Bitcoin continues to probe lower, the funding rate of perpetual contracts on mainstream exchanges has turned negative, reflecting a bearish shift in market sentiment.

Analysts point out that a brief negative turn in Bitcoin's funding rate often signals the formation of a "local bottom". Historical data shows that when the funding rate turns from positive to negative, it is often accompanied by leverage liquidation and changes in market sentiment. However, this signal needs to be combined with other technical indicators for comprehensive judgment and cannot simply be regarded as a market bottom signal.