ETH perpetual futures funding rate recovers, signaling potential rebound

ETH is showing signs of a potential rebound as its annualized funding rate for perpetual futures recovers, Cointelegraph reported. Despite ETH's price falling 15% last week to $2,625, its lowest level since July, the annualized funding rate has bounced back from 4% to 6%. On major futures exchanges such as OKX, traders have increased their long positions around the $2,700 level. The market appears to view $2,650 as a price floor. Experts suggest that if spot ETF inflows resume and signals of monetary easing emerge, ETH could potentially recover to $3,200.