Bitcoin Perpetual Futures See Increased Long Positions
- The Bitcoin Open Interest rose from 304,000 BTC to 310,000 BTC, marking a roughly 2% increase.
- Bitcoin’s price surged to $90,000 before pulling back to $89,500.
- The Bitcoin Funding Rate increased from 0.04% to a positive value of 0.09%, indicating bullish sentiment among traders.
Traders have set up new positions in the Bitcoin perpetual futures market as indicated by an uptick in Open Interest and Funding Rate metrics. This suggests a renewed interest in long positions as traders anticipate potential year-end movements.
Despite the recent pullback in Bitcoin’s price, the increase in Open Interest and positive Funding Rate highlight ongoing bullish sentiment among traders on the perpetual futures market. (Source)
