BTC Rebounds Above $76,000 on Feb 4; Funding Rates Turn Positive While Ethereum Stays Negative

Bitcoin briefly fell below $73,000 before rebounding above $76,000 on Feb 4, Coinglass data show. Funding rates flipped from negative to positive on several major centralized and decentralized exchanges for Bitcoin, though most venues continued to show negative funding for Ethereum, meaning shorts pay longs to maintain positions. Funding rates are used on perpetual contracts to keep prices close to the underlying asset, with readings above 0.01% suggesting a bullish stance and levels below 0.005% pointing to bearishness, according to BlockBeats.