Data: The funding rate shows that bearish sentiment for ETH has significantly increased, while BTC remains in a bearish range overall

According to Gate market data, Bitcoin is currently priced at $64,837.80, with a 24-hour decline of 3.13%; Ethereum is currently priced at $1,806.59, with a 24-hour decline of 4.84%.

CoinGlass data shows that the BTC position-weighted funding rate and the transaction volume-weighted funding rate are both at 0.0020%, overall in a bearish range; the ETH position-weighted funding rate has dropped to 0.0001%, and the transaction volume-weighted funding rate is -0.0003%, indicating that bearish sentiment is significantly stronger than that of BTC.

Editor's note: CoinGlass standardizes the funding rates of various platforms to an 8-hour basis. The funding rate is a mechanism for the exchange of long and short funds set to keep perpetual contract prices close to spot prices. A funding rate of 0.01% indicates the benchmark rate; above 0.01% indicates a generally bullish market; below 0.005% indicates a generally bearish market.