Bitcoin slips from $97K as 4% funding rate and weak retail demand test path to $100K

On Thursday, Bitcoin's price hovered near $95,500 after retreating from $97,900, even as an 8% three-day rally liquidated $465 million in short futures positions. The perpetual futures funding rate sat at 4%, below typical neutral levels, highlighting soft retail demand while institutional flows into spot ETFs and corporate treasury purchases expanded to over $225 billion in BTC exposure. Broader macro uncertainty around the Federal Reserve's independence and tensions involving Iran have added to traders' caution despite strong stock and precious metal performance.