Bitcoin price faces resistance as funding rates flip positive
Bitcoin’s price is approaching major resistance zones while funding rates flip increasingly positive—an indication that long exposure is building up. But is this bullish pressure sustainable, or a sign of overheating?
Bitcoin’s Bitcoin current price movement is testing a key area of resistance following a powerful rally, largely driven by a short squeeze. Now hovering just below $98,000, BTC is encountering strong supply at the confluence of the descending trendline, the 0.618 Fibonacci level, and the point of control from previous trading ranges.
Key technical points
Current Price: Bitcoin trades near $96,250 –$97,800, facing multiple resistance confluences.
Funding Rates: Positive across major exchanges, reflecting increased long positions in perpetual futures.
Price Structure: The short squeeze has lifted BTC into a range with previous bearish order blocks.