Oh, Bitcoin’s Back at It Again! Here’s Why Traders Are Feeling Brave

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Markets

What to know:

  • BTC‘s perpetual open interest and funding rates are rising again, QCP Capital noted.
  • The action shows confidence in BTC’s price prospects in the historically bullish fourth quarter.

It seems the traders are not ones to be deterred by a little thing called “volatility.” Despite the recent turbulence that caused the grand liquidation of leveraged long positions (which was as dramatic as it sounds), they’re back at it again, placing their bold bets on perpetual futures. Because, why not, right?

QCP Capital, a trading firm based in sunny Singapore, reported that open interest in perpetual futures is once again on the rise. So, if you thought last week’s meltdown would keep the traders hiding under their bedsheets, think again! According to their Monday update, these brave souls are showing strong bias toward long positions. Ah, the thrill of risk.

Now, brace yourself for this exciting statistic: The cumulative open interest in BTC perpetuals worldwide has increased from $42.8 billion to $43.6 billion. It’s a modest increase, yes, but it’s a reflection of renewed enthusiasm-because who doesn’t love a little capital inflow to kick off the fourth quarter?

In a rather delightful turn of events, annualized funding rates on major platforms like Deribit have jumped to a whopping 13%. This means those holding long positions are paying up just to keep their dreams (and positions) alive. Isn’t finance just a hoot?

“Hyperliquid’s long bias is also climbing back to 57%, up from just 36% last week,” the firm added. No one ever said traders don’t have a sense of humor, right? Or at least, they’ve got plenty of optimism, even if their wallets are a little lighter than they’d like after the last round of sell-offs.

In case you were wondering if last week’s volatility had any lasting effect on the investors’ delicate egos, rest assured-BTC’s price dropped dramatically in the first days of the week (it even flirted with dropping below $109,000 on Thursday). But don’t fret, those brave traders just carried on, because by the end of the week, Bitcoin was back at a nice, comfortable $114,000. Not bad, right? Who says crypto can’t be dramatic?

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2025-09-29 20:16