Bitcoin Price Today: Negative Funding Rates Signal Growing Bearish Bets as BTC Nears $68K

Bitcoin (BTC) price extended its decline on November 13 as negative funding rates, weakening spot demand, and bearish technical indicators pointed to growing pressure across the market. The latest data presents a mixed picture, however, as Hyperliquid whales have returned to net-long positions despite deteriorating futures demand and continued selling pressure. Bitcoin was trading around $68,600–$69,200, leaving the $69,227 support level at the center of its near-term outlook . Bitcoin’s derivatives market is showing signs of increasing bearish positioning as funding rates turned negative across several leading cryptocurrency exchanges.