fell to 62.10% in November from 62.2% in the previous month. The civilian labor force participation rate is the number of employed and unemployed but looking for a job as a percentage of the population aged 16 years and over.
So how is the latest Fed information dump playing in crypto markets? Sentiment for digital assets can be gauged in part by viewing BTC and ETH’s respective funding rates. Funding rates represent payments that occur on exchanges that facilitate the trading of perpetual futures contracts. When rates are positive, holders of long positions pay short positions. When negative, the opposite occurs. The extent to which funding rates are positive or negative can give a window into investor sentiment.
Bitcoin’s funding rate recently dipped into negative territory, reflecting a shift to bearish sentiment. A look over the last month shows that funding rates have oscillated back and forth, unsurprising given uncertainty around BTC prices.Ether has taken a divergent path, showing positive funding rates for ETH during 14 of the most recent 16 trading days.The lack of agreement between the two assets is eyebrow raising because BTC and ETH prices are generally highly correlated.
GWilliamsJr_CMT Interesting to see how funding rates differ between Bitcoin & Ether. DeFi is bringing more crypto to the mainstream. HODL DeFiRevolution
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