BlockBeats News, June 6th, according to HTX market data, Bitcoin is currently trading at $59,769.84, with a 24-hour decrease of 5.20%, dropping below the $60,000 integer mark; Ethereum is currently trading at $1,524.44, with a 24-hour decrease of 11.87%. The current mainstream CEX funding rates show that both BTC and ETH have completely entered a bearish range, with ETH's negative rate depth expanding significantly, indicating a predominant bearish sentiment.

On the BTC side, the funding rates of various platforms are all less than 0.005%, indicating an overall bearish trend and a basic disappearance of bullish momentum. On the ETH side, the bearish signals are extremely prominent, with the negative rate depth far surpassing that of BTC. The overall funding rates have turned negative, with shorts continuing to significantly pay fees to longs, and the market's bearish sentiment is more intense compared to BTC.

BlockBeats Note: Funding rates are rates set by cryptocurrency exchanges to maintain the balance between contract prices and underlying asset prices, usually applicable to perpetual contracts. It is a funding 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 baseline 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.