Bitcoin traded around $75,950 on November 8, up 0.09% over 24 hours, according to market data, as the crypto market stabilized after last week’s decline.

BTC funding rates remain neutral, according to CoinGlass:

  • Open interest-weighted: 0.0087%

  • Volume-weighted: 0.0081%

ETH funding rates rose to 0.0068% (open interest-weighted) and 0.0064% (volume-weighted). Both are within the neutral range, pointing to easing bearish sentiment.

Funding rates are periodic payments between long and short traders that keep perpetual futures prices in line with spot prices. CoinGlass standardizes rates to an eight-hour period. A rate of 0.01% is the baseline: readings above it point to bullish sentiment, and readings below 0.005% to bearish sentiment.

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