Crypto Market Rebounds, Funding Rate Indicates Market Sentiment Recovery, BTC and ETH Approach Bullish Territory

BlockBeats News, May 24th, according to HTX market data, Bitcoin is currently trading at $76,961.30, with a 24-hour increase of 2.98%; Ethereum is currently trading at $2,121.29, with a 24-hour increase of 4.55%. The current mainstream CEX and DEX funding rates show that the BTC rate structure is neutral to slightly bullish, while the ETH rate is overall warming up, with most platforms reaching or approaching the 0.01% benchmark. ETH overall is close to forming an effective long signal, and the bullish sentiment is more positive than that of BTC.

BlockBeats Note: Funding rates are rates set by cryptocurrency exchanges to maintain balance between contract prices and the underlying asset prices, usually applied to perpetual contracts. It is a funding exchange mechanism 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. When the funding rate is below 0.005%, it indicates a generally bearish market.