- The 30-day average funding rate for bitcoin futures contracts stayed in the negative range for 67 days in a row, the longest negative streak seen in nearly 10 years.
- Brent crude surged above $103 following renewed conflict near the Strait of Hormuz, ushering in a risk-off trend for crypto assets.
- The 20-day exponential moving average acts as dynamic support of current BTC recovery.
The pioneer cryptocurrency Bitcoin (BTC) retraced from its weekly high of $82,833 amid the renewed uncertainty in the middle east war. The pullback gained additional momentum as BTC’s futures logged their 67th straight day of negative funding rates— a move that highlights sellers’ conviction for a prolonged correction in its price. However, the historical data identifies this setup sets the stage for a potential recovery in the market. Here are key levels to watch in Bitcoin price in May 2026.
Why Bitcoin Price Reverted From $83,000 Barrier
Bitcoin price is up 0.18% on Saturday to trade at $80,344. This shallow uptick follows the re-escalating geopolitical tension as U.S. airstrikes against Ira...
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