Bitcoin 7-day funding flips negative; weekly low $65,500 amid crowded shorts

Bitcoin set a weekly low near $65,500 and has fallen for four straight days, while funding rates in futures remain deeply negative since early February. According to CryptoQuant, the 7-day average turned negative for the first time since March 2023 and November 2022, and analysts say crowded shorts could face a squeeze if $58,000 holds.