Bitcoin falls to $79,614 as 67-day negative funding sparks squeeze risk

Bitcoin (BTC) slipped 1.6% to $79,614 in Asian trading hours after a Wednesday high near $81,500. Despite the drop, BTC is still up about 3.3% on the week. Altcoins broadly followed. Ethereum (ETH) fell 2% to $2,278 and Dogecoin (DOGE) dropped 3.8% to $0.1063. XRP slid 1.7% to $1.38, while BNB edged down 0.7% to around $638. Solana (SOL) and TRON (TRX) closed slightly higher at $88.14 and $0.3474, respectively. Weekly charts show most majors with positive momentum, but DOGE remains the lone major still negative on the week. The selloff is linked to heightened US–Iran geopolitical tensions. The US launched strikes on Iranian targets after attacks on American Navy destroyers. Oil markets also reflected the uncertainty, with Brent crude up around 1.2% to ~$101, though still down more than 6% for the week. For traders, the key technical catalyst is derivatives positioning: BTC futures funding has been negative for 67 straight days—the longest streak in roughly a decade. K33 Research frames this as shorts paying longs to maintain positions, increasing the odds of a short squeeze if price breaks higher. Options activity also signals caution: QCP Capital notes monthly implied volatility near ~41% and continued demand for put options. Market analysts see two-way risk. Alex Kuptsikevich (FxPro) highlights sideways action and an RSI above 70, which historically precedes sharp pullbacks. A medium-term bullish path is also referenced via a CME futures price gap, targeting $93,000, but with possible interim dips. The article’s headline risk setup: negative funding could accelerate gains if BTC clears $83,200, while geopolitics and overbought signals may still pressure prices lower.