Bitcoin Surges Past $90K! Futures OI & Funding Rates Spike š
Bitcoin has successfully reclaimed the $90,000 mark, showing strong upward momentum. This price action was accompanied by a notable 2% increase in Bitcoin perpetual futures Open Interest (OI). OI rose from approximately 304K BTC to 310K BTC.
Concurrently, funding rates saw a significant climb, moving from 0.04% to 0.09%. This surge in funding rates indicates a clear rise in leveraged long positions across the market.
These combined metrics point towards increasingly bullish expectations among traders. The market sentiment appears optimistic as we approach the year-end, signaling potential continued momentum. š
