Bitcoin traders are increasingly betting against the market as BTC holds firm near the $68K level. On Monday, bitcoin hovered around $68,494 while short positions climbed to their highest point since August 2024, creating tension in the derivatives space. Funding rates have dropped sharply, a signal some analysts compare to the early stages of the 2024 rally. As of Feb. 16, bitcoin remains slightly above $68,000 after moving within a wide range that previously dipped close to $60,000, leaving both bulls and bears watching closely for the next decisive move.
BTCUSDT
Perp
68,138.8
-3.85%