Gate Research: Crypto Market Sentiment Cools｜Bitcoin Long Funding Rates Plunge 60%

On November 5, the cryptocurrency market continued its correction, with overall sentiment turning fearful. BTC fell 5.72% to 99,875 USDT, breaking below the psychological threshold and entering a weak consolidation range, while ETH extended its decline by 10.82%, losing support at $3,200. Despite the market pressure, tokens such as AIA (+140.04%), JELLYJELLY (+27.56%), and CUDIS (+47.25%) rose against the trend, standing out as bright spots in a bearish market. In the news, Bitcoin’s long-position funding rate has dropped by about 62% from its August peak, indicating cooling leverage demand; Ripple acquired Palisade to strengthen its enterprise custody infrastructure; and Forward Industries launched a $1 billion share repurchase plan and filed a PIPE resale supplement, helping to restore market confidence.