Perpetual futures are non-expiry futures contracts with a financing rate mechanism to balance prices. These funding rates are the payments exchanged between buyers (longs) and sellers (shorts) and are adjusted every eight hours. High funding rates often mean the market is too bullish and may even be overheated. However, with the recent price decline, highly leveraged traders have been driven out of the market and funding rates have returned to healthy levels below 0.1%.

The correction in the cryptocurrency market is already reflected in the number of open interest. Open interest for Bitcoin and Ethereum fell by 1.3% and 6.7% respectively, which could mean a correction is taking place across the cryptocurrency market. Currently, most investors are taking a wait-and-see attitude, waiting for the market to stabilize further.

Although the market is currently cooling down, this does not mean that risks in the cryptocurrency market have been completely eliminated. Investors still need to be cautious about market changes and do a good job in risk management. However, as the market corrects, long-term investors may see more investment opportunities.

Despite the decline in Bitcoin prices, some experts believe this could be a correction in the market, paving the way for a steady increase in Bitcoin prices by the end of the year. In the opinion of many investors and experts, the cryptocurrency market still has huge potential, especially Bitcoin's properties as digital gold, which will continue to be favored by investors.

Overall, although Bitcoin prices have fallen recently, this does not affect the long-term outlook for the entire cryptocurrency market. Investors should remain cautious while looking for suitable investment opportunities. As the end of the year approaches, new opportunities may emerge in the cryptocurrency market. #币安合约锦标赛