Bitcoin started the week attempting to hold above $82,000. Amid rising prices, funding rates in the futures market turned positive for the first time in a month, but professional traders still are not showing full confidence in a continued rally.
The market remains in an intermediate phase. On one hand, BTC has held above $80,000 for more than a week. On the other, derivatives and options indicate caution among major players.
Funding Rate Turns Positive Again
One of the main signals for the market was the change in funding rates for perpetual futures.
On Monday, the annualized funding rate briefly rose to about 6%, entering the neutral-to-bullish zone for the first time in recent weeks. This means that demand for long positions has started to recover.
However, the market structure does not yet look fully reversed. Previously, funding had remained negative for a long time, indicating a predominance of short bets.
Professional Traders Remain Cautious
Despite BTC’s growth, large participants are in no hurry to aggressively increase risk.
There is still strong demand for protective put contracts in the options market. The delta skew indicator is holding around 10%, showing that market makers and large holders still fear a correction.
This is an important signal. Usually, during sustained growth phases, the options market becomes noticeably more neutral or bullish.
That confirmation is still missing for now.
ETFs Again Become the Main Factor
Additional pressure on sentiment came from outflows from US spot Bitcoin ETFs.
After several attempts by BTC to hold above $82,000, some funds recorded withdrawals. This is a sensitive moment for the market, as ETFs remain the main indicator of institutional demand.
In recent months, it has been capital inflows through ETFs that have supported the growth structure. Therefore, any signs of waning interest are immediately reflected in trader sentiment.
Geopolitics Again Influences the Crypto Market
The external backdrop also remains tense. Brent oil prices rose above $105 amid the ongoing conflict around Iran and partial restrictions in the Strait of Hormuz.
Investors are closely watching the rhetoric of the US and Israel. Any escalation of the conflict could sharply change market behavior.
For Bitcoin, the situation is ambiguous. On one hand, geopolitical instability increases interest in alternative assets. On the other, rising oil and inflation risks could complicate expectations for Fed rates.
Miners Are in No Hurry to Switch to AI
The market is also discussing the impact of the AI sector on Bitcoin mining. After major deals involving Nvidia, there were concerns that some companies would switch from BTC mining to computing for artificial intelligence.
However, current data show the network’s resilience. Bitcoin’s hashrate has grown by about 5% in recent weeks and is approaching 970 EH/s.
This reduces fears of a mass miner exodus. Despite interest in AI infrastructure, BTC mining remains an economically significant direction.
Strategy Buys Bitcoin Again
The market received additional support from a new purchase by Michael Saylor’s Strategy.
The company announced the acquisition of about $43 million in BTC after a week-long pause. The purchase was financed through the sale of company shares.
Although the deal volume was relatively small compared to previous purchases, the market continues to view Strategy’s activity as a factor supporting demand.
BTC Still Far From All-Time High
Despite the recovery, Bitcoin remains about 35% below its all-time peak.
This makes the current market phase ambiguous. Some investors see the situation as accumulation before a new growth cycle, others as prolonged consolidation within a broader bear range.
That is why the move to $85,000 becomes an important psychological milestone. Holding above this level could change sentiment structure.
The Market Awaits a New Impulse
Bitcoin currently lacks a strong catalyst. ETF inflows, a softening Fed tone, or easing geopolitical tensions could return initiative to buyers.
Without this, the market risks remaining in a range, especially if spot market activity continues to decline.
As long as BTC holds key support around $80,000, the structure remains relatively stable. However, the market has yet to receive a confident confirmation of a new growth phase.
What This Means for the Market
A positive funding rate shows renewed interest in long positions, but professional traders are still avoiding excessive optimism.
ETFs, options, and geopolitics continue to determine short-term dynamics. That is why the market looks both strong and cautious at the same time.
For a move to $85,000, Bitcoin will need not only a technical impulse but also a return of sustained institutional demand.
What’s Next?
The main factor in the coming days is spot ETF flows. If funds start attracting capital again, BTC could get the acceleration it needs.
Otherwise, the market risks returning to testing lower support levels, especially if oil continues to rise and tensions around Iran intensify.
As long as Bitcoin stays above $80,000, the scenario for a move to $85,000 remains. But the market still needs confirmation of strength from buyers.
Read more: Why the Economy and Trump Can No Longer Withstand the Consequences of War With Iran
