As Ether's price moves in a tight range, futures market participants have opened trading positions against the alt's price.
Likewise, bearish sentiments continue to grow across spot markets.
When an asset’s funding rate is consistently positive, it indicates a lot of bullish interest in the market, and future market participants are willing to pay more to hold their long positions. “As the price of Ethereum has entered a consolidation phase following a period of sharp declines, the funding rates have also turned negative. This indicates that futures traders have adopted a pessimistic outlook on ETH, enhancing the possibility of a further price drop,” the analyst stated.
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