The current mainstream CEX funding rate shows that BTC is overall weak, hovering on the brink of a downtrend, while ETH sentiment is mixed. Market sentiment remains cautious.

BlockBeats News, May 19th, according to HTX market data, Bitcoin is currently trading at $76,638.07, with a 24-hour decrease of 0.66%; Ethereum is priced at $2,123.19, with a 24-hour increase of 0.05%. The current mainstream CEX funding rates show that BTC rates across platforms are concentrated at the lower edge of the bearish range, while ETH platforms are experiencing significant differentiation, with an overall cautious market sentiment.

On the BTC side, platforms like Binance have funding rates concentrated in the 0.004% to 0.006% range, all below the 0.01% benchmark. Overall, although BTC funding rates have not completely turned negative, they remain below the benchmark, indicating a lack of bullish momentum and a absence of bullish signals. Regarding ETH, on platforms like Binance, the majority have funding rates concentrated in the 0.007% to 0.008% range, approaching but not yet reaching the 0.01% benchmark; platforms like OKX are notably lower; ETH platform differentiation is more pronounced compared to BTC, with some mainstream platforms showing a slight improvement in sentiment, but an effective bullish signal has not yet formed.

BlockBeats Note: Funding rates are rates set by cryptocurrency exchanges to maintain balance between the contract price and the underlying asset price, usually applicable to perpetual contracts. It is a mechanism for fund exchange between long and short traders, and the trading platform does not charge this fee. It is used to adjust the cost or profit of traders holding contracts to keep the contract price close to the underlying asset price.

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 sentiment. When the funding rate is below 0.005%, it indicates a generally bearish market sentiment.