Bitcoin funding rate hits 2-week high: Is $70K next?

60-second summary

Bitcoin's funding rate surges to a 2-week high, signaling investor optimism, with a 0.06% rate indicating strong buy sentiment. The orderbook setup also points to a bullish outlook, but ETF outflows and macroeconomic red flags, such as inflation concerns, may limit Bitcoin's short-term upside, potentially capping gains at $70,000, despite a broader crypto market rally.