Bitcoin Rebounds Nearly 20% From Intraday Low to $71,751 as Funding Rates Remain Bearish

Bitcoin rose nearly 20% from its intraday low on Feb. 7, briefly reaching $71,751, Coinglass data cited by BlockBeats show. Despite the sharp rebound, funding rates on major centralized and decentralized derivatives platforms remain below the 0.01% benchmark, signaling a broadly bearish market stance. Funding rates are periodic payments between long and short perpetual contract traders that help align contract prices with spot prices, with rates above 0.01% indicating bullish sentiment and rates below 0.005% reflecting bearish positioning.