BlockBeats News, May 28th, according to HTX market data, Bitcoin is currently trading at $73,524.15, with a 24-hour decrease of 3.13%; Ethereum is currently trading at $1,994.33, with a 24-hour decrease of 4.20%. ETH has dropped below the $2,000 integer mark during the day. The current mainstream CEX funding rates indicate that both BTC and ETH are in a bearish range overall, with a weak willingness to long, and the market sentiment remains sluggish.

Regarding BTC, overall, the BTC rates on various platforms are generally below the 0.01% benchmark, indicating a lack of bullish signals. As for ETH, the bearish outlook is more prominent. The overall ETH funding rates are all below the 0.005% threshold, with more pronounced bearish pressure 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, usually 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 benchmark 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.