**Jan 26th Crypto Update** Per Coinglass data, Bitcoin fell to the $86,000 level early this morning, temporarily trading at $86,683. Current funding rates across major centralized (CEX) and decentralized (DEX) exchanges show the market has fully flipped bearish: only Bitcoin’s funding rate remains positive, while Ethereum (ETH) funding rates on top platforms are all negative. Specific funding rates for major coins are available in the attached image. **BlockBeats Note** Funding rates are fees set by crypto exchanges to align contract prices with underlying asset values, typically for perpetual contracts. They function as a transfer between long and short traders — exchanges do not collect this fee. The goal is to adjust the cost or profit of position holders to keep contract prices near underlying asset levels. – A 0.01% rate is the baseline. – Rates above 0.01% signal a broadly bullish market. – Rates below 0.005% indicate a broadly bearish market.
