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

Ethereum is currently trading under pressure after failing to push above the $3,000 level again over the past 24 hours, a move that is reflecting trader sentiment across the derivatives markets. ETH is currently trading at $2,925, down 2.7% on the day, after moving within a 24-hour range capped at $3,012.99 and finding lows around $2,909.60, according to price data from CoinGecko. 
As price action weakens, a notable change has been developing, with on-chain data showing funding rates drifti