TechFlow news, according to bitcoinist, CryptoQuant data shows that the Bitcoin perpetual futures funding rate has turned negative for the seventh time this year. Analyst Axel Adler noted that in the past year, each of the previous six instances when the funding rate turned negative marked local bottoms for Bitcoin's price, followed by significant rallies.
Bitcoin is currently consolidating around $99,400, with markets closely watching two key levels: resistance at $100,000 above—if broken and held, it could open the door for a new upward move; and support at $98,000 below—a break of which might trigger further downside correction.
On the macro front, multiple positive factors are converging: improving U.S. crypto regulatory environment, a pro-crypto president in office, and the upcoming Bitcoin halving cycle. However, compared to previous cycles, altcoins have shown relatively weak performance, sparking market discussions about the sustainability of Bitcoin's rally momentum.
