The crypto market is experiencing a broad decline, with funding rates indicating a significant increase in bearish sentiment towards ETH, while BTC remains overall in a bearish range.

BlockBeats news, November 15th, according to HTX market data, Bitcoin is currently reported at $64,837.80, with a 24-hour decline of 3.13%; Ethereum is currently reported at $1,806.59, with a 24-hour decline of 4.84%.

CoinGlass data shows that BTC's open interest-weighted funding rate and volume-weighted funding rate are both 0.0020%, overall in a bearish range; ETH's open interest-weighted funding rate has dropped to 0.0001%, and the volume-weighted funding rate is -0.0003%, with bearish sentiment noticeably stronger than BTC.

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