Bitcoin Bears Cap BTC $70K Despite Negative funding

Takeaways from the conference:

• Bitcoin’s Futures Funding Rates briefly went negative, signaling to bullish traders that they lack the confidence at this time to leverage.

• Gold and US government bond investors have shifted their focus to artificial intelligence due to the uncertainty regarding its long-term viability.

BitcoinBTC) failed to reclaim the $70,000 level on Tuesday following a retraction in the S&P 500 futures. Traders were concerned about the potential for a longer maturation of investments made in artificial intelligence, which impacted shares of Nvidia US (NVDA US), Apple US (AAPL US) & Google US (GOOGL US). The traders became concerned about further losses after the bearishness was apparent in Bitcoin futures.

BTC is the annualized BTC futures funding rate On Monday the indicator briefly turned negative, signaling a lack in demand for leveraged positions. This indicator is usually between 6% and 12% in neutral conditions. The lack of confidence from bulls over the last week has been the rule. Bitcoin’s recent disappointment is also due to the dominance of precious-metals.

Over the past two month, silver and gold were the big winners while the stock exchange entered a consolidation phase. The tech sector has stalled as analysts claim that valuations are excessive. Others say AI efficiency is paying off. Investors sought safety in government bonds, regardless of what happened.

The yields of the US Treasury 10-year bonds have fallen to their lowest level since November 2025. This indicates that there is a greater demand for these securities. This does not mean that the Federal Reserve is more confident about its plan to prevent a downturn without causing inflation. This trend is actually the opposite. US dollar has weakened The DXY Index measures the value of a currency against a basket or foreign currencies.

Dario Amodei is the co-founder of Anthropic and its CEO. He reportedly stated on Friday that AI investments will not likely pay off within two years. According According to Fortune magazine, the author warned that building massive data centers too quickly can be costly. “ruinous.” 

Amodei noted as well that it is not possible to deliver $10 trillion in compute by the middle of 2027 due to constraints. Investors have become more cautious due to the uncertainty surrounding the tech industry.

Bitcoin option market stabilizes amid macroeconomic uncertainty

The demand for BTC option strategies that range from neutral to bearish is stagnant. Although the panic that followed the sudden crash of BTC to $60,200 in February 6 is largely over, traders remain far from turning bullish.

Related: Bitcoin accumulation wave puts $80K back in play–Analyst

Deribit’s BTC put-to call ratio stood at 0.8x Monday. This indicates a balanced demand for both put (sell), and call (buy), instruments. The data is a stark contrast to the 1.5x rate seen on Wednesday. This level, which has traditionally been deemed as bearish, was viewed by many analysts. Bitcoin derivatives data shows no panic in the market. It will probably take two weeks for bulls’ confidence to return.

After Bitcoin flirted around the $70,000 level, traders may have decided to be more conservative and take their profits. The caution of traders was heightened by the fact that both US and Chinese markets were shut on Monday for holiday. Based solely on BTC’s negative funding rate, there is no indication that Bitcoin has further to go down. The only thing that will allow for a sustained bullish movement is if macroeconomic uncertainties are reduced.