Bitcoin funding turns negative as open interest stalls, setting up potential short squeeze toward $70K

During the latest New York session, Bitcoin slid to a weekly low near $64,111 but continued to trade inside the three-week range between $65,000 and $71,000. Derivatives data shows negative funding on lower timeframes and flat open interest, while liquidity is stacked around $63,000 on the downside and above $70,000 on the upside. Analysts note that a sweep of the $63,000 area could precede a move back toward the mid-range and possibly a retest of the $70,000 resistance.