The crypto market edged lower,ETH funding rates weakened,BTC remaining neutral
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AT A GLANCE
BTC and ETH declined slightly over 24 hours, and the funding rate data in the article showed that sentiment for ETH contracts was weaker than that for BTC。
Article
The crypto market edged lower, while funding rates indicate ETH bearish sentiment is intensifying,BTC remaining within the neutral range
BlockBeats reports that October 29, according to HTX market data, Bitcoin is currently at 79,907.10 USD，24 with a decline of 1.25%; Ethereum is currently at 2,313.12 USD，24 with a decline of 1.74%.
According to CoinGlass data,BTC the open-interest-weighted and volume-weighted funding rates are respectively 0.0069%and 0.0056%, both within the neutral range;ETH the two weighted funding rates are respectively 0.0042%and 0.0043%, both below 0.005%'s bearish threshold, indicating that ETH futures market sentiment is weaker than that of BTC.
BlockBeats note: Funding rates are rates established by cryptocurrency trading platforms to maintain a balance between contract prices and the prices of underlying assets, and generally apply to perpetual contracts. They are a mechanism for exchanging funds between long and short traders. Trading platforms do not charge this fee; it is used to adjust the cost or return of holding contracts, keeping contract prices close to those of the underlying assets.
When the funding rate is 0.01%it represents the baseline rate. When the funding rate is above 0.01%it indicates that the market is generally bullish. When the funding rate is below 0.005%it indicates that the market is generally bearish.
Original link https://m.theblockbeats.info/flash/374332
Key points
01
BlockBeats stated that October 29 according to HTX market data, Bitcoin is 79,907.10 USD，24 hour decline 1.25%。
02
BlockBeats stated that October 29 according to HTX market data, Ethereum is 2,313.12 USD，24 hour decline 1.74%。
03
According to the CoinGlass data cited in the article,BTC the open-interest-weighted and volume-weighted funding rates are respectively 0.0069%and 0.0056%, both within the neutral range.
04
According to the CoinGlass data cited in the article, ETH's two weighted funding rates were 0.0042% and 0.0043%, both below the bearish threshold referred to in the article as 0.005%.
05
The article states that the funding rate is a mechanism for exchanging funds between long and short traders in perpetual contracts, used to keep the contract price close to the price of the underlying asset.
06
The article describes 0.01% as the benchmark rate, stating that a rate above 0.01% usually indicates bullish sentiment, while a rate below 0.005% usually indicates bearish sentiment.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
In terms of price, BTC and ETH both recorded a 24-hour decline, and ETH saw a larger drop. In terms of contracts, the article uses funding rates to observe long-short sentiment: BTC's two readings were classified as being within the neutral range, while ETH's two readings were below the bearish threshold set in the article; therefore, the article concludes that ETH contract market sentiment was relatively weaker.
Why it matters to readers
These data compare spot price movements with perpetual contract sentiment, showing that at the time ETH not only fell more than BTC, but that contract traders were also more bearish.
Beginners can regard funding rates as an indicator for observing long-short tendencies in perpetual contracts, but should not make trading decisions based solely on a single funding rate or short-term price movements.
Risks and unknowns
Not provided in the original text HTX The direct pages for the market data and CoinGlass data were not provided, so the readings cannot be independently verified based solely on the evidence.
The evidence only states October 29, without explicitly specifying a year in the main text.
0.005% and 0.01%'s sentiment classifications reflect the interpretive framework adopted in the text; their general applicability cannot be confirmed from this evidence.
These data reflect only the points in time stated in the text and do not indicate how prices or funding rates changed thereafter.
Related Developments
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Related concepts
Funding rate
A fee paid periodically between long and short positions to help keep the price of a perpetual contract close to the price of the underlying asset.
A derivative contract with no expiration date, designed for continuous holding, whose funding rate mechanism helps keep its price close to that of the underlying asset.
