Bitcoin Optimism Rises, But $70K Breakout Stalls
Bitcoin‘s funding rate climbed to 7%, signaling growing bullish confidence, but persistent spot ETF outflows are delaying a push toward $70,000. Strong order-book bids and lower oil prices provided support,. . .
Bitcoin‘s funding rate climbed to 7%, signaling growing bullish confidence, but persistent spot ETF outflows are delaying a push toward $70,000. Strong order-book bids and lower oil prices provided support, yet broad weakness in stocks, bonds, andGoldindicates a market-wide shift toward cash. Increased demand for put options andStrategy’sinitial valuation concerns highlighted investor caution, though the latter were partially eased by a new cash position. Bitcoin traded near $65,500 on Monday as optimism grew from positive geopolitical developments and a rising perpetual futures funding rate. However, the rally faces headwinds from sustained outflows in US-listed spot ETFs,data shows. - Advertisement -The Bitcoin perpetual futures annualized funding rate jumped to 7%, its highest in nearly three weeks, reflecting increased confidence among leveraged bulls. This optimism was partly fueled by Brent crude oil prices falling to $77. 50, their lowest level since Marchaccording to TradingView. Meanwhile, broader financial markets signaled risk aversion. The Nasdaq 100 declined as AI stocks weakened, and demand for protective put options atDeribitoutpaced calls by over two-to-oneaccording to Laevitas. Consequently, a simultaneous sell-off in stocks, bonds, and gold pointed to a clear preference for cash holdings. Investor concerns briefly focused onStrategy, whose shares traded 13% below its Bitcoin acquisition cost, raising fears of potential reserve sales. Those fears were somewhat alleviated after the company announced a substantial additional cash position. Bids on major Bitcoin order books exceeded offers by $12 million, reversing the weekend trendas per CoinGlass. However, with spot ETFs seeing $228 million in net outflows the prior week, the immediate path to a $70,000 Bitcoin breakout appears limited. - Advertisement -✅ FollowBITNEWSBOTonTelegram,Facebook,LinkedIn,X. com, andGoogle Newsfor instant updates. Previous Articles:ShapedPlugin WordPress Backdoor in Supply ChainSaylor’s Strategy Says Its Stock Differs From Terra’sCoinbase Launches AI Pre-IPO Futures for OpenAI & AnthropicNY Atty Seeks to Unmask ‘Noah Doe’ Claiming $245B in BTCAndrew Cuomo to co-chair ICE-OKX digital assets ventureStay in the Loop🔥Join 1. 2K Smart TradersGet exclusive crypto insights, breaking news, and market analysis delivered straight to your inbox. No fluff, just facts.