Bitcoin News Today: Divergent Exchange Signals Expose Crypto's Bearish Divide

The cryptocurrency market remains under bearish pressure, with funding rates on major centralized and decentralized exchanges signaling subdued bullish sentiment. Data from Coinglass shows that funding rates for Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) have fallen below critical thresholds, reinforcing a cautious outlook amid macroeconomic headwinds and declining altcoin momentum, as shown in a Gate post. Funding rates, which balance perpetual futures contracts with spot prices, are a key barometer of market direction. When rates dip below 0.005%, they typically indicate short positions dominate, as seen in a CoinEdition analysis.

Specific assets highlight the bearish tilt. ETH's funding rate stands at 0.0066% on Bitget and -0.0031% on Vertex, reflecting indecision with a slight bearish bias. SOL exhibits mixed signals, with a bullish 0.0100% on Bitget but a bearish -0.0062% on Vertex, according to the CoinEdition analysis. DOGE, meanwhile, faces intense short interest, with rates as low as -0.0104% on Vertex and -0.0655% on Crypto.com, underscoring volatility risks reported by CoinEdition.

Bitcoin's technical outlook adds to concerns. Traded near $82,000, the asset struggles to break through its 20-day EMA at $82,213, while its RSI approaches oversold territory at 36.45, per the CoinEdition analysis. Recent dips below $75,000 followed President Donald Trump's 104% China tariff announcement, triggering a risk-off market sentiment that spilled into crypto. Institutional outflows, including BlackRock's IBIT ETF shedding 3,296 BTC, further exacerbate selling pressure, the CoinEdition piece notes.

The broader market reflects similar strains. The altcoin market cap, excluding BTC, hovers at $883.64 billion, nearing historically oversold levels. Bollinger Bands and RSI indicators suggest potential capitulation, though a rebound remains contingent on reclaiming the $997.59 billion midline, as outlined in CoinEdition.

Historical context amplifies the bearish narrative. Funding rates recently collapsed to 2022 bear market lows following a $19.33 billion liquidation event—the largest in crypto history—triggered by Trump's tariffs, according to a CryptoNews report. Glassnode data highlights a median altcoin funding rate of -0.4%, with Bitcoin's open interest plummeting by $10 billion as leveraged longs were wiped out, as detailed in a CoinMarketCap article. While short-term volatility spikes and potential short squeezes linger, the prevailing neutral-to-bearish funding rates suggest liquidity constraints and weak conviction, the CoinEdition analysis concludes.

Analysts caution that divergent signals across exchanges—such as Binance's neutral-bearish shifts and Bitget's mixed readings—reflect fragmented trader sentiment. Despite a post-crash rebound, Bitcoin's path to $126,000 remains fraught, with critical support at $110,000–$112,000 acting as a near-term linchpin, the CoinMarketCap article observes.