Bitcoin has shown relative strength in recent trading, advancing above $65,000 despite a sell-off in artificial intelligence-related technology stocks and broader risk aversion in financial markets.

The cryptocurrency decoupled from the Nasdaq-100 Index, which fell below 28,800 for the first time in five weeks. Bitcoin perpetual futures maintained a neutral annualized funding rate of 8 percent, indicating limited aggressive bullish positioning.

Options market data revealed a 30-day delta skew of 13 percent, with puts trading at a premium to calls. This suggests market participants continue to hedge against downside risks amid geopolitical tensions and rising Treasury yields.

Strategy raised $263 million through a stock offering, bolstering its cash reserves to $3.22 billion and addressing concerns over debt obligations and dividend payments. The five-year US Treasury yield increased to 4.33 percent, reflecting investor demands for higher compensation.

Bitcoin’s performance points to ongoing divergence from traditional risk assets, even as corporate earnings in the technology sector face scrutiny. A move toward $70,000 remains possible if current momentum persists, though derivatives indicators show cautious sentiment.