Bitcoin and Ether Fell as Funding Rates Stayed in Neutral Range

Bitcoin (BTC) and Ether (ETH) prices declined over 24 hours on Oct. 24, while four weighted perpetual futures funding-rate readings remained between the levels used to describe broadly bullish and bearish positioning.

Bitcoin traded at $80,669.49, down 1.31% over 24 hours. Ether was at $2,367.01, a 1.52% decline.

Bitcoin’s open-interest-weighted and volume-weighted funding rates were 0.0081% and 0.0074%, respectively. Ether’s readings were 0.0078% and 0.0082%.

A funding rate of 0.01% is the base rate. Rates above 0.01% indicate broadly bullish positioning, while rates below 0.005% indicate broadly bearish conditions. All four weighted readings fell between those levels, although some platforms recorded rates in the bearish range.

Funding rates are payments between traders holding opposing positions in perpetual futures. The transfers pass directly between traders and help align perpetual-contract prices with the underlying asset.