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The open interest in bitcoin has reached a new all-time high of $ 19.8 billion. In addition, funding rates have reached their highest positive level since August, indicating that the majority of open interest is favoring long positions in bitcoin.
This upward trend in the derivatives market indicates an increase in liquidity inflows and increased attention to the cryptocurrency space. Rising funding rates further indicate optimistic sentiment among traders.
In addition, BTC stocks on centralized exchanges continue to decline, with the metric also setting a record high.