Bitcoin’s price climbed above $70,000 as Coinglass data shows negative BTC funding rates on several exchanges, while ETH rates stayed modestly positive, indicating milder bearish sentiment.
Bitcoin surged to $71,751 on February 7 and briefly stayed above $70,000 on February 8, according to Coinglass. Despite the rally, BTC funding rates turned negative on multiple exchanges, suggesting continued market caution from derivatives traders. In contrast, ETH funding rates remained positive, though below 0.005%, reflecting less bearish sentiment compared to Bitcoin.