As of March 22nd, according to Coinglass data, Bitcoin is trading at $69,275.33, down 1.93% in the last 24 hours. Ethereum is priced at $2,103.95, a 2.18% decrease over the same period. Current funding rates on major centralized (CEX) and decentralized (DEX) exchanges indicate a comprehensive bearish sentiment in the market, with a clear dominance of short positions. Specifically, funding rates for BTC and ETH on multiple platforms, including Binance, have turned negative, signifying that short-sellers are continuously paying premiums to long-sellers to maintain their positions. The funding rates for major cryptocurrencies are illustrated in the accompanying chart. BlockBeats Note: Funding rates are fees set by cryptocurrency exchanges to maintain the balance between the futures contract price and the underlying asset's spot price, typically applied to perpetual contracts. It functions as a payment mechanism between long and short traders, with the exchange not collecting this fee. It is used to adjust the cost or profit for traders holding contracts, aiming to keep the contract price close to the spot price. A funding rate of 0.01% represents the benchmark rate. When the funding rate is greater than 0.01%, it indicates a generally bullish market sentiment. Conversely, when the funding rate is less than 0.005%, it suggests a generally bearish market sentiment.