Analyst: Ethereum funding rate may indicate a sharp rise, investors are advised to pay attention to the key point of 0.015

Odaily Odaily News CryptoQuant analyst Burak Kesmeci posted on the X platform that Ethereum's current funding rate performance may indicate an upcoming sharp rise. Kesmeci analyzed Ethereum's funding rate data over the past year and found two similar "calm before the storm" periods. In September 2023, the funding rate hovered between 0.002 and 0.005, and then broke through 0.015, and the price of Ethereum soared from the $1,500 range to more than $4,000. In September 2024, the Ethereum funding rate has remained at a similar level for nearly a month. "While it is impossible to be sure whether history will repeat itself, there is indeed a certain pattern in the market," Kesmeci said, noting that the crypto market usually becomes active in the fourth quarter after the holiday-intensive summer. Kesmeci advises investors to pay close attention to whether the funding rate breaks the key threshold of 0.015, believing that this is a core indicator for tracking healthy growth in the bull market cycle.