According to the Glassnode report, influenced by the market's expectations for the sharp fluctuations in bitcoin at the end of the year, the cryptocurrency derivatives market continued to heat up, and the amount of bitcoin perpetual contracts not positioned squaring rebounded.
Glassnode reported on Monday that as the spot price briefly touched the $90,000 mark on the day, its perpetual contract unpositioned squaring has climbed from 304,000 to 310,000 BTC (the current BTC unit price is $88,294). At the same time, the funding rate also climbed from 0.04% to 0.09%, indicating that derivatives traders are betting that the market will see significant fluctuations at the end of the year.
"The combination of these two indicators signals that leveraged long positions are re-accumulating and perpetual traders are gradually building positions to prepare for potential year-end volatility," Glassnode said. Bitcoin perpetual contracts are a type of futures contract that has no expiration date and can be held indefinitely. The contract is anchored to the bitcoin spot price through a funding rate mechanism, which is a regular payment fee between long and short traders in perpetual contracts.
Bitcoin perpetual contract position squaring up, traders bet on year-end rally
2025-12-23 03:46:28
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