Bitcoin reached a peak of $76,000 but quickly reversed to around $74,300, marking a continued struggle to sustain a breakout over the past two months. Despite this, Bitcoin has maintained a 1.3% gain over the last 24 hours. Notably, funding rates on Binance's bitcoin perpetual contracts have remained negative for 46 consecutive days, indicating that traders are still positioned bearishly even as open interest rises. Vetle Lunde, head of research at K33 Research, noted that such extended negative funding rates have historically preceded sharp upside moves in the market, suggesting potential attractive entry points for investors. The current market conditions mirror those seen after the FTX crash in late 2022 and during the 2021 bear market following China’s ban on bitcoin mining. Ether also experienced a similar trend, pulling back from above $2,400 but still outperforming Bitcoin with a 2.5% daily increase. Traditional markets, however, have shown resilience, with the Nasdaq closing at a session high, up 2%.