Ethereum's Funding Rate Declines

Key Factors & Future Predictions

Current Market Status

Ethereum (ETH) is trading around $2,300, reflecting a shift in market sentiment.

Decline in Funding Rate

Ethereum’s Funding Rate has hit its lowest level of 2024, signaling reduced buying interest from traders

Bearish Sentiment

A negative Funding Rate indicates short sellers dominate, suggesting bearish sentiment that may pressure ETH prices

A short squeeze could occur if spot buyers enter the market, potentially reversing the current downward trend.

Potential for Short Squeeze

Spot Volume Stability

Ethereum's spot volume remains steady at $14 billion, crucial for price stability. A decline could increase selling pressure.

Future Predictions

Analysts predict ETH could range between $2,000 and $2,500 by the end of 2024. Monitor ethereum price predictions closely

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