Bitcoin derivatives markets are showing renewed activity as traders position for a potential year-end price move.
Data from Glassnode shows Bitcoin perpetual open interest increased from 304,000 BTC to 310,000 BTC
The rise in open interest coincided with Bitcoin briefly touching the $90,000 level earlier this week.
Analysts said the increase reflects growing participation from leveraged traders.
Funding rates on Bitcoin perpetual contracts also climbed sharply during the same period.
Glassnode reported funding rates rose from 0.04% to 0.09% in a short time frame.
Higher funding rates typically indicate stronger demand for long positions in perpetual futures markets.
This combination signals a renewed buildup in leveraged long positioning, as perpetual traders position for a potential year-end move.
Glassnode said.
Bitcoin perpetuals are futures contracts without an expiry date that closely track the spot market.
These contracts rely on funding payments between long and short traders to maintain price alignment.