Analysis: Bearish Sentiment Builds in Bitcoin and Ether Futures Markets
Bearish sentiment is spreading across Bitcoin and Ether futures markets, with selling pressure in Ether stronger than in Bitcoin.BlockBeats, citing CoinGlass data on November 15, reported that Bitcoin's funding rate stood at 0.0020%.Bearish sentiment was even more pronounced in Ether. Its funding rate fell to 0.0001%.Funding rates are fees exchanged between investors holding long and short positions in the perpetual futures market. In general, a lower funding rate or a move into negative territory is interpreted as a sign that more investors are betting on prices to fall.BlockBeats said funding rates below 0.005% indicate that bearish sentiment is dominant across the broader market.As of 3 p.m., Bitcoin was trading at $64,754, down 3.23% from a day earlier. Ether was also down 4.84% at $1,805.59.