Current leading CEX funding rates show both BTC and ETH are in a bearish range, indicating weak market sentiment.
BlockBeats news, May 26 — According to data from a certain exchange, Bitcoin is currently quoted at $76,648.30, down 0.57% in the past 24 hours; Ethereum is quoted at $2,091.45, down 0.63% in the past 24 hours. After a clear pullback from the rebound two days ago, current mainstream CEX funding rates indicate both BTC and ETH are in bearish territory. For BTC, some platforms have recorded negative rates, showing a complete lack of bullish signals for BTC overall, and a significantly weak rate structure. For ETH, bearish signals are even more pronounced. Across platforms, ETH funding rates are all below the 0.005% threshold, reflecting an even more consistently bearish trend than BTC, with a very low willingness to go long.
BlockBeats note: Funding rates are set by cryptocurrency trading platforms to maintain balance between contract prices and spot prices, usually applied in perpetual contracts. It is a capital exchange mechanism between long and short traders. The trading platform does not charge this fee. It is used to adjust the cost or yield of holding contracts, so that contract prices remain close to spot prices.
When the funding rate is 0.01%, it represents the benchmark rate. When the funding rate is above 0.01%, it indicates a generally bullish market. When the funding rate is below 0.005%, it indicates a generally bearish market.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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