ETH funding rate has turned negative, will Ether bulls seize the opportunity?

ETH’s funding rate turned negative, reflecting traders’ hesitance after facing a 13.8% drop, retesting the $2,900 support level. Liquidations of $480 million have shaken investor confidence, while bearish sentiment is observed in current trading volumes.

Despite historical insights suggesting that negative funding rates often present buying signals, ETH investors are exercising caution. The recent liquidations and declining network fees further complicate the outlook for a sustained price recovery.