The cryptocurrency market has seen a shift in sentiment for Bitcoin (BTC) and Ethereum (ETH), with funding rates on major centralized and decentralized exchanges returning to neutral levels, according to Coinglass data on January 10. This indicates that the market is no longer bearish on these leading cryptocurrencies.
However, the sentiment towards altcoins remains negative, as evidenced by widespread negative funding rates. Funding rates are a mechanism used by exchanges to balance the price of perpetual contracts with the underlying asset, affecting the cost or profit of holding a contract. A neutral funding rate suggests market equilibrium, while negative rates indicate bearish sentiment.
Market Sentiment Shifts to Neutral for BTC and ETH, Remains Bearish for Altcoins
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