Crypto traders' outlook for the broader market remains constructive even though bitcoin (BTC), the leading digital asset by market value, has over 10% in market value since the debut of spot ETFs in the U.S. a week ago.
A positive funding rate means perpetual contracts are trading at a premium to the index price, with longs paying funding fees to shorts, signifying bullish market expectations.
The CoinDesk 20 is a broad crypto market benchmark, representing over 90% of the total value. While bitcoin and ether (ETH) account for just over 50% of the index, other tokens like filecoin (FIL), stellar's XLM, aptos' APT, XRP, dogecoin (DOGE), and others make up the rest, making it an S&P 500-like gauge.
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