Bitcoin Holds Strong as Tech Stocks Slide, Traders Eye $70K

Bitcoin showed notable resilience over the past week, trading near $65,500 even as technology stocks came under heavy selling pressure. The move signals a growing decoupling between BTC and traditional risk assets, though derivatives data suggests traders remain cautious about further upside.

Funding Rates Show Muted Optimism

The annualized funding rate for Bitcoin perpetual futures sat at a neutral 8% on Monday, unchanged from the prior week. That level falls well short of the 12% mark last seen on July 10, when demand for bullish leverage was stronger, suggesting whales are not rushing into aggressive long positions despite the price strength.

Nasdaq Weakness Contrasts With Bitcoin Strength

The Nasdaq-100 fell below 28,800 on Friday, its lowest point in five weeks, while Bitcoin climbed past $65,000 on Monday. Strategy’s announcement of a $263 million stock sale helped calm fears over potential forced Bitcoin selling, as the firm built up cash reserves to $3.22 billion to cover dividend obligations and upcoming debt maturities.

Options Market Still Favors Downside Protection

The 30-day options delta skew on Deribit read 13%, down from 19% the previous week but still above the neutral range of -6% to 6%, showing puts remain pricier than calls. Rising five-year Treasury yields, now at 4.33%, and weakness across AI-linked stocks like IBM, Oracle and Intel have added to broader risk aversion, even as gold has also slipped since mid-May.