🔥Breaking info Glassnode reports that as Bitcoin reclaimed $90,000, leveraged traders began re-accumulating long positions in anticipation of year-end volatility.💹
On-Chain & Derivatives Data:
Open Interest: Rose from 304k BTC to 310k BTC (+2%) in perpetual contracts.
Funding Rates: Increased from 0.04% to 0.09%, indicating longs are paying shorts more to maintain their positions.
The combination of rising price, increasing open interest, and positive funding suggests bullish conviction is returning to the derivatives market. Traders are positioning for potential upside volatility as the year closes.
While this is a bullish setup, high leverage can amplify both gains and losses. Elevated open interest can lead to violent liquidation cascades if the price moves sharply against these positions.
Are you positioned for a year-end Bitcoin breakout?
$$BTC
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