Bitcoin stays pinned below $70K as BTC’s negative funding rate flashes warning sign
Bitcoin’s negative funding rate and a cooling tech sector in the US add pressure to markets and contribute to BTC failing to trade above $70,000.
Key takeaways:
Bitcoin’s futures funding rates briefly turned negative, signaling that bullish traders currently lack the conviction to use leverage.
Uncertainty regarding the long-term profitability of artificial intelligence has pushed investors toward gold and US government bonds.