Bitcoin’s recent rebound approaching $70,000 appears tepid as derivatives data exhibits bearish sentiment, evidenced by negative funding rates, declining open interest, and a notable increase in demand for downside protection. This cautious market outlook is reinforced by recent communications from crypto analysts, who are increasingly emphasizing the importance of caution due to prevailing uncertainties reflected in the derivatives market. Despite a somewhat supportive regulatory environment under President Trump’s administration regarding crypto innovation, traders remain focused on protective options strategies, expecting potential volatility over a strong rally.
Bitcoin nears $70,000 but bearish derivatives indicate caution over strong rally
