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

BlockBeats news, November 8th, according to HTX market data, Bitcoin is currently reported at $75,953.19, with a 24-hour increase of 0.09%. CoinGlass data shows that BTC's open interest-weighted funding rate is 0.0087%, and the volume-weighted funding rate is 0.0081%, both remaining in the neutral range; ETH's open interest-weighted funding rate has risen to 0.0068%, and the volume-weighted funding rate has risen to 0.0064%, both in the neutral range, with bearish sentiment further easing.

BlockBeats note: CoinGlass uniformly converts funding rates across platforms to an 8-hour basis. The funding rate is a long-short capital exchange mechanism set to keep perpetual contract prices close to spot prices; 0.01% is the baseline rate, above 0.01% indicates a bullish market, and below 0.005% indicates a bearish market.