Crypto Market Signals: Coinglass Data Reveals Persistent Bearish Sentiment via Funding Rates on December 11

On December 11, 2023, Coinglass data revealed a pervasive bearish market sentiment across mainstream centralized (CEX) and decentralized (DEX) cryptocurrency exchanges, as evidenced by consistently negative funding rates. This critical metric, essential for perpetual contracts, indicates that short position holders are paying long position holders, signaling a widespread expectation of further price declines. A funding rate below 0.005% is typically indicative of such a bearish outlook, suggesting that traders are heavily betting against the market. This trend highlights a cautious and pessimistic investor sentiment, impacting immediate market dynamics and potentially influencing short-term price movements across major cryptocurrencies.