Bitcoin Funding Rate Remains in Negative Territory

The funding rate for Bitcoin (BTC) is a crucial metric in the cryptocurrency market, reflecting the overall health of the network. According to Coinglass data, the current 8-hour average funding rate for BTC across the entire network stands at -0.0008%. This indicates that the majority of traders are currently bearish on the asset.

However, it's worth noting that the funding rate can vary significantly among different exchanges. As per the data, Binance is currently trading at a rate of -0.0034%, while OKX and Gate are at -0.0016% and -0.0029%, respectively. Bybit is slightly more bearish with a rate of -0.0045%.

Interestingly, Thena's price has taken a hit over the past 30 days, plummeting by -38.65%. The current price stands at $0.06571 USD.