Crypto market stabilizes after decline, funding rates indicate easing bearish sentiment on ETH, BTC remains in a neutral range overall.

BlockBeats news, November 2 - According to HTX market data, Bitcoin is currently trading at $78,025.63, down 0.02% in 24 hours; Ethereum is currently trading at $2,285.78, up 0.65% in 24 hours.

According to CoinGlass data, BTC's open interest-weighted and volume-weighted funding rates are 0.0075% and 0.0071% respectively; ETH's two weighted rates are 0.0062% and 0.0064% respectively, both in the neutral range. Compared to previous negative levels, ETH bearish sentiment has significantly eased, but overall rates remain lower than BTC.

BlockBeats note: CoinGlass uniformly converts funding rates across platforms to an 8-hour basis. Funding rate is a mechanism for exchanging funds between longs and shorts to keep perpetual contract prices close to spot prices; 0.01% is the baseline rate, above 0.01% indicates a bullish market, below 0.005% indicates a bearish market.