Ethereum's funding rate has hit its lowest point this year, signaling bearish sentiment in the derivatives market.
However, interpreting this decline can lead to different conclusions depending on how other factors, such as the spot volume, perform.Funding Rate is a key indicator used in Futures markets to measure the cost of holding long or short positions.
ETH’s Funding Rate dropping to its lowest level this year reflects a decline in demand for buying Ethereum on leverage through derivatives. This could be a bearish sign for the price in the short term.The decline in the Funding Rate indicates a lack of enthusiasm from traders in the derivatives market, which could further pressure Ethereum’s price.With fewer traders willing to take long positions, the Ethereum downward trend could continue unless spot buyers step in to absorb the sell pressure.
This consistent volume is crucial for maintaining price stability, especially as Ethereum’s funding rate has dipped to its lowest level of the year.The spot volume for Ethereum has remained relatively stable, averaging $14 billion. This consistent volume has likely helped ETH avoid a more severe price decline.
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