Ethereum Funding Rates Pushing Towards Negative: What’s Going On?

tldr; Ethereum’s price has dropped below the $3,000 level, trading at $2,925, reflecting bearish sentiment in derivatives markets. Funding rates are nearing negative territory, indicating stronger demand for short positions. Open interest remains high, showing traders are not exiting Ethereum entirely, with Binance holding the largest share. Liquidations have totaled $64.34 million, mostly from long positions. A hold above $2,900 could stabilize funding rates, but further declines may push Ethereum below this level.

*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.