Equity markets cratered Friday (Nasdaq -2.50%, S&P -1.11%) while BTC added +0.91% to hold $82,494, and that decoupling is real but fragile: alts are still bleeding on the week, dominance sits at 60.14%, and the macro backdrop isn't resolved yet.

Summary

BTC is at $82,494 (+0.91% 24h, -1.14% 7d), holding above $82K despite a brutal equity session that saw the Nasdaq drop 2.50% and MicroStrategy crater 9.56%. The daily divergence is notable; the weekly tells a different story, with ETH down 4.52%, SOL down 5.45%, XRP down 6.52%, and DOGE the worst major at -7.61% on the week. Fear & Greed sits at 59, which is Greed territory, but that reading looks increasingly optimistic given the alt bleed and the macro headwinds. Yesterday's regime was also Mixed, but today conviction in BTC's relative strength has ticked up: the network is clean (hash rate 1,125 EH/s flagged bullish, fees at 1 sat/vB, MVRV at 1.51) while the rest of the risk complex is visibly stressed.

Market Pulse

BTC open interest on Hyperliquid sits at $3.26B with a long/short ratio estimated at 1.13, meaning longs hold a modest edge but are far from crowded enough to trigger a flush. Funding at +0.0013% is nearly flat, so the bid isn't leveraged conviction, it's more likely spot-driven resilience. If equities stabilize Monday morning (Nasdaq futures are pointing toward recovery per the BeInCrypto headline), BTC's hold above $82K gets confirmed; if equities reopen lower, that untested correlation snaps back hard.