The open interest of Bitcoin perpetual contracts has risen to 310,000 BTC, as traders bet on the year-end market

According to monitoring by Glassnode, the open interest in Bitcoin perpetual contracts has risen from 304,000 BTC to 310,000 BTC.

At the same time, the funding rate has doubled from 0.04% to 0.09%, indicating that traders are accumulating leveraged long positions in anticipation of year-end market movements. Additionally, one of the largest options expiration events in history is approaching, with Bitcoin options contracts with a notional value of over $23 billion set to expire. Data from Deribit shows that call options are primarily concentrated at strike prices of $100,000 and $120,000, while put options are concentrated around $85,000. Currently, the put/call ratio is 0.37, and the maximum pain price is $96,000.