The funding fees paid monthly by bitcoin perpetual contract long positions have dropped by about 62%.

Jinse Finance reported that Glassnode stated: "In bitcoin perpetual contracts, the funding fees paid by long positions each month have dropped by about 62%, from $338 million per month in mid-August to the current $127 million per month. This highlights a clear macro downward trend in speculative demand, as traders are increasingly unwilling to pay interest to maintain long positions."