BTC perpetual futures traders increase bullish bets

Bullish bets are expanding in the Bitcoin perpetual futures market as traders anticipate a year-end rally, according to an analysis by Cointelegraph citing Glassnode data. Open interest in BTC perpetual futures recently increased from 304,000 BTC to 310,000 BTC. During the same period, the funding rate rose from 0.04% to 0.09%. The analysis suggests this indicates traders are betting on a bullish trend while preparing for year-end volatility.