BTC open interest, funding rates rise amid year-end rally hopes

On-chain analytics firm Glassnode reported that as Bitcoin's price recovered to the $90,000 level, open interest in perpetual futures increased by approximately 2%, from 304,000 BTC to 310,000 BTC. Concurrently, funding rates have climbed from 0.04% to 0.09%. Glassnode suggested that these trends indicate traders are re-entering aggressive long positions in anticipation of a year-end rally.