Bitcoin recently surged past $93,000, marking a significant rebound in the crypto market. However, data from Coinglass reveals that funding rates on major centralized and decentralized exchanges remain below 0.005%. This low level of funding rates suggests that despite the price rally, market sentiment continues to be bearish. Funding rates are crucial for aligning perpetual contract prices with the underlying asset prices, and the current rates indicate a lack of confidence in sustained upward momentum.