Bitcoin stays pinned below $70K as 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.

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