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<ul class="wp-block-list news-points">
 <li>Bitcoin perpetual futures open interest returns to $16 billion, but funding rates remain moderate.</li>
 <li>The figure coincides with Bitcoin reaching $71,400 today, led by Binance traders.</li>
 <li>Short-term holder SOPR metric shows controlled profit-taking at 1.017, below the overheating level.</li>
</ul>
As Bitcoin approaches its all-time high, open interest in the perpetual futures market has climbed back to $16 billion, according to <a href="https://x.com/KaikoData/status/1851187217898582317?t=HxJL3A6jIRz0_8bOXwRyuw&amp;s=19" target="_blank" rel="noopener noreferrer nofollow">Kaiko Data</a>.
This brings open interest back to levels seen in August, just before a major selloff. The influx of capital indicates increased market participation.
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Notably, the latest figure coincides with <a href="https://coinedition.com/bitcoin-nears-all-time-high-surpassing-71000-as-the-entire-crypto-market-rallies/" rel="noopener noreferrer nofollow">Bitcoin reclaiming the highly anticipated $70,000</a> mark, a level it had struggled to achieve for the past four months. Bitcoin is now making substantial progress toward its previous all-time high, reaching an intraday peak of $71,400. This puts it just 3.48% away from the record of $73,750.
Despite the increased activity in the perpetual futures market returning to August highs, funding rates remain moderate. This suggests a tempered demand, even as Bitcoin’s price rises to $71,000. Funding rates reflect the costs associated with holding long or…
The post <a href="https://coinedition.com/bitcoins-open-interest-surges-to-16-billion-as-price-nears-all-time-high/" rel="noopener noreferrer nofollow">Bitcoin’s Open Interest Surges to $16 Billion as Price Nears All-Time High</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Bitcoin’s Open Interest Surges to $16 Billion as Price Nears All-Time High

Coin Edition

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