BTC is holding $81,525 while equities crater (Nasdaq -2.50%, S&P -1.11%), and that divergence is the only real story today: crypto is not leading the risk-off, it's absorbing it, and whether that relative strength converts into genuine momentum or just delays the pain is the question every position hinges on.
Summary
BTC sits at $81,525, up a nominal +0.14% over 24 hours but down -1.75% on the week, while ETH (-0.47% 24h, -4.02% 7d), SOL (-0.59% 24h, -6.05% 7d), and XRP (-0.42% 24h, -7.44% 7d) are bleeding more freely. The Fear & Greed index reads 53 (Neutral), which is striking given that the Nasdaq dropped 2.50% and MicroStrategy got hit for -9.56% in the same session. BTC dominance at 59.46% tells the same story: capital is consolidating into the flagship and not rotating into alts. Compared to yesterday's Mixed regime, the regime is unchanged, but the conviction behind BTC's relative resilience is marginally firmer given the size of the equity drawdown it just absorbed without cracking.
Market Pulse
On-chain volume of $93M is flagged bearish in the data, which means this isn't a conviction hold, it's a low-activity float. Open interest on Hyperliquid sits at $3.39B with a long/short ratio of roughly 1.05 (model estimate from funding) and a funding rate of just +0.0005%, so longs are barely paying, there's no euphoria to unwind. If equities stabilize Monday morning, BTC's $81,500 zone becomes a genuine base; if the equity selloff extends, low volume means there's no crowd to catch a falling price.