Bitcoin slips to $79,000, DOGE leads majors losses as negative funding rates set 10-year record Bitcoin pulled back from this week’s $81,500 high after U.S. forces fired on Iranian targets, while crypto futures markets logged their 67th straight day of negative funding rates,…
e longest streak in a decade per K33 Research. What to know: – Bitcoin has pulled back from a midweek high above $81,000 amid renewed U.S.-Iran tensions, but it remains higher on the week alongside mostly resilient global risk assets. – Funding rates for bitcoin futures have been negative for 67 straight days, creating a powerful setup for a potential short squeeze if prices break above the key $83,200 technical level. – While overbought signals and geopolitical risks are prompting caution and hedging in the options market, some analysts still see room for a medium-term move toward $93,000, possibly after another pullback
The longer the funding rates stay red, the louder the short squeeze gets. Bitcoin Ether dropped 2% to $2,278, dogecoin slid 3.8% to $0.1063, XRP fell 1.7% to $1.38, and BNB shed 0.7% to $638. Solana and TRON held in green territory at $88.14 and $0.3474 respectively.
Dogecoin is the only major coin in the red on the seven-day tape. The pullback came as U.S. forces fired on Iranian targets after attacks on American naval destroyers transiting the Strait of Hormuz on Thursday, per reports. President Donald Trump described the strike as a “love tap” in an ABC News interview, said the ceasefire with Iran remains “in effect,” and threatened to hit harder if Tehran does not sign a deal soon.