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Breaking News: Trump Media Set to Issue Non-Transferable Crypto Tokens, Cutoff Date February 2

Bitcoin Perps Heat Up Again As Leveraged Longs Rise

Keshav Verma
Keshav Verma
Last Updated: December 23, 2025 8:00 am
3 mins read
Bitcoin

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Data shows traders have set up fresh Bitcoin positions on the perpetual futures market during the past day, and the Funding Rate suggests they are long bets.

Bitcoin Open Interest Has Witnessed An Uptick

According to data from on-chain analytics firm Glassnode, the surge Bitcoin has seen to kick off Monday has come alongside a spike in the Bitcoin perpetual futures Open Interest.

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The “Open Interest” refers to an indicator that keeps track of the total amount of BTC perpetual futures positions that are currently open on all derivatives exchanges.

When the value of this metric rises, it means the investors are opening up fresh positions on the market. Since such a trend usually accompanies an increase in leverage for the sector, it can lead to more volatility for the asset.

On the other hand, the indicator going down implies investors are either pulling back on risk or getting liquidated by their platform. This kind of trend can result in the cryptocurrency’s price behaving in a more stable manner.

Now, here is a chart that shows the trend in the Bitcoin Open Interest over the last couple of weeks:

Bitcoin Open Interest
The value of the metric seems to have gone up | Source: Glassnode on X

As displayed in the above graph, the Bitcoin Open Interest rose from 304,000 BTC to 310,000 BTC as the cryptocurrency observed a recovery surge to $90,000 during the past day.

This represents an increase of about 2%, which isn’t much, but still signals that the rally encouraged traders to open up new positions on the perpetual futures market.

The Open Interest includes both types of positions when calculating its value, so it contains no information about whether positions have a bias toward shorts or longs. Another metric called the Funding Rate can be used to determine that instead.

This indicator measures the amount of periodic fee that perpetual futures traders are exchanging between each other. A positive value implies long investors are paying a premium to the shorts in order to hold onto their positions, while a negative one implies bearish bets are dominant.

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As the below chart shows, the Bitcoin Funding Rate has been positive for much of the last two weeks, indicating that a bullish sentiment has been shared by the majority of perpetual futures traders.

Bitcoin Funding Rate
Looks like the value of the indicator has been positive for a while now | Source: Glassnode on X

This metric also noted an uptick alongside the increase in the Open Interest, going from 0.04% to 0.09%. “This combination signals a renewed buildup in leveraged long positioning, as perpetual traders position for a potential year-end move,” noted Glassnode.

BTC Price

Bitcoin has seen a bit of a pullback since its surge above $90,000 as its price is now back at $89,500.

Bitcoin Price Chart

The trend in the price of the coin over the last five days | Source: BTCUSDT on TradingView
Featured image from Dall-E, Glassnode.com, chart from TradingView.com
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Keshav Verma
Keshav Verma

Keshav Verma

Keshav is currently a senior writer at NewsBTC and has been attached to the website since June 14, 2021.

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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to.

In terms of official educational qualifications, Keshav holds a bachelor’s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions.

Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true.

Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn’t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment..

Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form.

Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new.

As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money.

Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn’t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs.

Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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