The crypto market is experiencing a widespread decline, with the funding rate indicating that BTC is still in a bearish range, while the ETH sentiment is significantly more bullish than BTC.

BlockBeats News, June 25th, according to HTX market data, Bitcoin is currently trading at $61,684.51, with a 24-hour decrease of 1.88%; Ethereum is trading at $1,647.36, with a 24-hour decrease of 1.48%. The current mainstream CEX funding rates show a significant difference between BTC and ETH: the funding rates for BTC on various platforms are consistently in the bearish zone, while ETH remains mostly above the neutral zone, indicating a significantly stronger bullish sentiment compared to BTC.

BlockBeats Note: Funding rates are rates set by cryptocurrency exchanges to maintain the balance between the contract price and the underlying asset price, typically applicable to perpetual contracts. It is a fund 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 sentiment. When the funding rate is below 0.005%, it indicates a generally bearish market sentiment.