Bitcoin dips below $80K amid US-Iran tensions and record negative funding rates in crypto futures

Bitcoin fell to around $79,600 after reaching a high of $81,500 earlier this week, triggered by renewed US-Iran tensions following US strikes on Iranian targets. Despite the pullback, Bitcoin remains up 3.3% for the week. Crypto futures have seen 67 consecutive days of negative funding rates, the longest in a decade, setting the stage for a potential short squeeze if Bitcoin breaks above $83,200. Analysts caution that overbought signals and geopolitical risks may cause further short-term dips, but some see a medium-term rise toward $93,000. Other major cryptocurrencies also declined, with Dogecoin leading losses at nearly 4%.