• Negative Bitcoin funding rate may signal pending short-squeeze above $70K Bitcoin holds its range trend even as the funding rate turns negative and BTC open interest flatlines. • Is the data leaning toward a short-squeeze back to $70,000? • Cointelegraph in your social feed Bitcoin (BTC) slid to a weekly low of $64,111 during the New York trading session on Monday, taking out the range lows that were initially set on Sunday evening. • Despite the weakness, the price action continues to rotate closely within the three-week range between $65,000 and $71,000. • Derivatives data outlines a clear lack of bearish follow-through for a deeper correction, while the liquidity positioning may frame the next move on the opposite side of the current trading range. • Bitcoin traders may target the upside liquidity next The recent price drop swept liquidity around $64,000 and liquidated roughly $240 million in long positions.
Article Summaries:
- Bitcoin fell to a weekly low of $64,111 on Monday, but remains trapped in a tight $65,000‑$71,000 range that has held since early February. The drop liquidated roughly $240 million in long positions near $64,000, while $1 billion of long exposure sits at $63,000 and $3.5 billion of short exposure lies around $70,000, creating a liquidity magnet on the upside. Funding rates have turned negative, meaning shorts are paying longs, signalling a defensive tilt that could trigger a short‑squeeze if the upside liquidity is hit. Bollinger Bands have tightened, indicating compressed volatility and a potential breakout toward the $70‑$76 k zone.
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