Ethereum's funding rates have turned negative across major centralized and decentralized exchanges, reflecting a bearish market sentiment. According to Coinglass data, Bitcoin remains the only major cryptocurrency with a positive funding rate, despite its recent drop to $86,000, currently trading at $86,683. This shift in funding rates suggests a lack of confidence in Ethereum's short-term price stability, as traders adjust their positions in response to market conditions. Funding rates are crucial in maintaining the balance between contract prices and underlying asset prices, particularly in perpetual contracts. A negative funding rate indicates that short traders are paying long traders, signaling bearish sentiment. This development highlights the current market dynamics where Ethereum faces increased selling pressure, contrasting with Bitcoin's relative stability.