Fell to a four-month low, yet no one in the futures market dared to pile into shorts—the selloff wasn’t driven by bears.
Coinglass data: On November 15, BTC perpetual funding rates were 0.0020%/8h and ETH’s were 0.0001%/8h, both below the 0.005% neutral threshold. ETH’s volume-weighted funding rate was -0.0003%, the only negative reading. The benchmark is 0.01%/8h; readings below 0.005% indicate a bearish-dominated market.
Prices: $BTC is currently around $63,941, with an intraday low of $62,006, down 4.91% on the day; $ETH is around $1,783, with an intraday low of $1,711, down 6.06% on the day.
How to read this: Funding rates hovering near zero without turning deeply negative suggest that leveraged longs have mostly been liquidated, while bears haven’t seized the opportunity to pile into shorts. This selloff was driven more by spot selling pressure and long liquidations than by aggressive short selling. Watch two signals: whether funding rates can stay below 0.005% for several consecutive days, and whether prices can reclaim the $67,800 200-week moving average. A return to around the 0.01% benchmark would signal a recovery in leveraged market sentiment. Until then, treat any bounce as just a bounce.
Data as of: 2026-11-15 08:01 UTC
For informational purposes only; this is not investment advice.
Coinglass data: On November 15, BTC perpetual funding rates were 0.0020%/8h and ETH’s were 0.0001%/8h, both below the 0.005% neutral threshold. ETH’s volume-weighted funding rate was -0.0003%, the only negative reading. The benchmark is 0.01%/8h; readings below 0.005% indicate a bearish-dominated market.
Prices: $BTC is currently around $63,941, with an intraday low of $62,006, down 4.91% on the day; $ETH is around $1,783, with an intraday low of $1,711, down 6.06% on the day.
How to read this: Funding rates hovering near zero without turning deeply negative suggest that leveraged longs have mostly been liquidated, while bears haven’t seized the opportunity to pile into shorts. This selloff was driven more by spot selling pressure and long liquidations than by aggressive short selling. Watch two signals: whether funding rates can stay below 0.005% for several consecutive days, and whether prices can reclaim the $67,800 200-week moving average. A return to around the 0.01% benchmark would signal a recovery in leveraged market sentiment. Until then, treat any bounce as just a bounce.
Data as of: 2026-11-15 08:01 UTC
For informational purposes only; this is not investment advice.
