Bitcoin perpetual contract open interest rises to 310,000 BTC, as traders bet on year-end price action.

According to Glassnode, Bitcoin perpetual contract open interest has increased from 304,000 BTC to 310,000 BTC. Meanwhile, funding rates have doubled from 0.04% to 0.09%, indicating that traders are accumulating leveraged long positions in preparation for year-end trading.

Furthermore, December 26th will see one of the largest options expiration events in history, with Bitcoin options contracts with a notional value exceeding $23 billion expiring. Deribit data shows that call options are mainly 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, with the maximum bearish price at $96,000.