Bitcoin Near $92K as Funding Rates Across Major Exchanges Indicate Bearish Market

According to CoinGlass data, the cryptocurrency market extended a broad rebound as Bitcoin briefly touched the near-$92,000 level, signaling renewed demand while market breadth remains selective across altcoins.

Evidence from major CEXs and DEXs shows funding rates still signaling cautious sentiment. The funding rate is the exchange mechanism used to calibrate perpetual contracts by transferring value between long and short positions to keep contract prices aligned with the underlying asset. Readings at or above the 0.01% baseline suggest a bullish tilt, while readings below 0.005% indicate bearish pressure and potential funding outflows.

Traders should monitor funding dynamics as a guide for risk management, recognizing that current pricing implies limited upside momentum unless funding conditions turn decisively more favorable.