Bitcoin ticks higher, but remains range-bound as traders keep short bias

BTC rises to $77,000 after holding $75,000 support, but negative funding, unchanged open interest and cautious positioning signal a lack of conviction. What to know : Bitcoin has been stuck between $75,000 and $80,000 since April 19, with negative funding rates indicating that traders are still shorting any rallies. Derivatives data reflects weak conviction: Open interest is steady at $19 billion and basis remains subdued at 1.5% annualized. Options markets lean bullish, with call-heavy flows and easing downside hedging demand despite broader macro uncertainty.