Current mainstream CEX Funding Rate shows that both BTC and ETH are in a bearish range, with market sentiment being weak

BlockBeats News, May 26th, according to HTX market data, Bitcoin is currently trading at $76,648.30, with a 24-hour decrease of 0.57%; Ethereum is trading at $2,091.45, with a 24-hour decrease of 0.63%. Compared to the rebound situation two days ago, the mainstream CEX funding rates currently indicate that both BTC and ETH are in a bearish range. Regarding BTC, some platforms have recorded negative values, overall indicating a lack of bullish signals for BTC and a significantly weak fee structure. As for ETH, bearish signals are more prominent. The funding rates for ETH on various platforms are all below the 0.005% threshold, showing a generally bearish trend more consistent than BTC, with a very low willingness to go long.

BlockBeats Note: Funding rates are rates set by cryptocurrency exchanges to maintain the balance between the contract price and the underlying asset price, usually applicable 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 baseline 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.