BlockBeats News, May 31st, according to HTX market data, Bitcoin is currently trading at $73,951.23, with a 24-hour change of 0.38%; Ethereum is currently trading at $2,024.25, with a 24-hour change of 0.32%. ETH has regained the $2,000 key psychological level. The current mainstream CEX funding rates show that Bitcoin sentiment has significantly improved compared to the previous two days, with most platforms approaching the 0.01% benchmark, indicating a gathering bullish sentiment. Ethereum remains overall neutral, with some relief in bearish pressure, but no effective bullish signals have formed yet, and the sentiment recovery is weaker than that of Bitcoin.

BlockBeats Note: Funding rates are set by cryptocurrency exchanges to maintain balance between the contract price and the underlying asset price, usually applicable to perpetual contracts. It is a mechanism for fund exchange 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 greater than 0.01%, it indicates a generally bullish market. When the funding rate is less than 0.005%, it indicates a generally bearish market.