Bitcoin stays pinned below $70K as BTC’s negative funding rate flashes warning sign

💡 DMK Insight

Bitcoin’s struggle to break above $70,000 is more than just a number—it’s a reflection of broader market sentiment. The negative funding rate indicates that traders are currently more bearish than bullish, which could lead to further downward pressure if sentiment doesn’t shift. Coupled with a cooling tech sector in the US, this creates a challenging environment for BTC. If the tech stocks continue to falter, we might see a spillover effect into crypto, particularly if institutional investors start reallocating their portfolios. Watch for BTC to hold above $65,000 as a key support level; a drop below that could trigger more selling. On the flip side, if Bitcoin manages to stabilize and the tech sector shows signs of recovery, we could see a rebound. Keep an eye on the funding rates and overall market sentiment—these will be crucial in determining BTC’s next move. The next few days will be critical, especially with the potential for volatility around key economic indicators.