BTC resists broader market downturn despite weak derivatives sentiment and profit-taking in AI-related equities.
Bitcoin remained resilient above $65,500 despite a sell-off in tech stocks, decoupling from traditional markets. The Nasdaq-100 Index fell below 28,800 for the first time in five weeks, while BTC showed relative strength amid profit-taking in memory-chip makers and AI sector valuation concerns.
Bitcoin perpetual futures funding rates held at a neutral 8%, unchanged from the prior week. A funding rate above 12% typically signals excessive bullish leverage, last seen on July 10. Derivatives data suggests top traders remain cautious, with hedging activity reflecting downside risks tied to macroeconomic uncertainty and geopolitical tensions.
The cryptocurrency’s decoupling contrasts with declining Treasury yields and risk aversion in equities, though a sustained rally toward $70,000 remains uncertain due to muted derivatives demand.