$BTC funding sits near -0.006 while price holds around 68K, showing a derivatives market leaning heavily short.
Negative funding means bears are paying to stay positioned, reflecting strong downside conviction but also increasing the risk of a squeeze if momentum shifts.
Despite last week’s drop toward 60K and the rebound that followed, sentiment in futures remains cautious, hinting that traders are not yet convinced by the bounce.
Historically, extended periods of negative funding during sideways action have often appeared near accumulation zones rather than major breakdowns. Macro conditions still lean supportive, creating a divergence between price stability and bearish positioning.
This does not confirm an immediate rally, but it highlights a market structure where patience may outperform panic as the next directional move slowly develops.
