Bitcoin Funding Rates Turn Negative Again as Ali Martinez Highlights Indicator Seen Before Major BTC Rallies

Bitcoin briefly reached a six-week high of $76,000 after breaking above $70,000 last week, trading about $11,000 higher than its February 28 low that followed the start of strikes in the Middle East. Analyst Ali Martinez told his nearly 165,000 followers on X that BTC funding rates turning negative has preceded every major relief rally over the past three years, citing moves such as December 2022's rise from $17,800 to $24,800, March 2023's jump from $20,000 to $30,700, August 2023's climb from $26,400 to $73,000, September 2024's advance from $58,000 to $104,500, April 2025's move from $94,700 to $111,600, and June 2025's increase from $107,000 to $124,700. He noted that funding rates have now reset to 0.004% after bitcoin's breakout above $70,000 and argued that negative readings, when market sentiment is at what he called "peak fear," have historically coincided with local bottoms as traders pay to short. Martinez's analysis was published when BTC traded near $71,000 before it rallied 7% in 24 hours to $76,000, while the report also pointed out that recent price action has been heavily influenced by Middle East developments and that bitcoin has outperformed other asset classes, including gold, since the war began.