Glassnode: As the price of Bitcoin returns above $90,000, leveraged long positions are accumulating again

Glassnode stated that as the price of Bitcoin returned above $90,000, the open interest in perpetual contracts increased from 304,000 BTC to 310,000 BTC (approximately 2%), while the funding rate also rose from 0.04% to 0.09%.

This combination indicates that leveraged long positions are being re-accumulated, and perpetual contract traders are positioning themselves for a potential market movement by the end of the year.