Influenced by widespread risk-off sentiment triggered by tanker attacks in Iraqi waters, oil prices surged — Brent crude broke above $100 per barrel, with gains reaching 10.5% — Bitcoin (BTC-USD) declined as much as 2%, trading near $70,000. Despite the pullback, analysts point out that Bitcoin continues to demonstrate relative resilience amid current geopolitical tensions. The perpetual futures negative funding rate has dropped to near a five-week low — historically, negative funding rates are typically associated with stronger forward returns. Large Bitcoin holders continued accumulating when Bitcoin prices dipped just above $60,000, suggesting a potential Bitcoin rebound.

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