Lucía Peña
Bitcoin’s open interest-weighted perpetual futures funding rate has surged to multi-month highs, signaling a shift toward bullish positioning among derivatives traders, per Coinglass data. This upward trend in funding rates reflects growing market optimism, particularly after Donald Trump’s recent U.S. election win.
“The positive funding rate highlights a strong bullish sentiment among investors keen on leveraging their positions,” said Luuk Strijers, CEO of Deribit, in an interview with PRIME. Strijers noted that perpetual futures are far outpacing spot markets—a sign of renewed enthusiasm and increased institutional interest in the crypto sector.
Open interest in BTC perpetual futures has also surged, according to Jasper De Maere, Research Lead at Outlier Ventures. “This increase is a bullish confirmation that positive funding rates may rise even further,” De Maere explained. He pointed to current funding exceeding 0.04% on Bitmex and 0.03% on Binance, which indicate that leveraged positions are holding steady.
According to De Maere, these high funding signal a general bullish outlook, typical of anticipated bull markets, where synthetic exposure often increases as traders seek higher leverage.
Data from PRIME shows that aggregated BTC futures open interest across major exchanges has reached an all-time high of over $37 billion, underscoring heightened activity and investment in crypto derivatives.
Bitcoin Price Could Reach $100,000 by January 2025, Copper.co Projects
A recent report from Copper.co projects that BTC could hit $100,000 by the 2025 U.S. presidential inauguration. This forecast is linked to trends in spot BTC ETF accumulation, with ETFs on track to amass approximately 1.1 million bitcoins by January 20, 2025.
Fadi Aboualfa, Copper.co’s Head of Research, noted, “Back-testing the ETF accumulation data against potential price scenarios suggests a $100,000 BTC is achievable by inauguration day, with ETFs holding around 1.1 million bitcoins.” He highlighted that during Trump’s previous term, BTC reached new highs, although the current environment sees a stronger U.S. dollar compared to the last cycle’s weaker dollar context.
With ongoing enthusiasm in the crypto market, bolstered by positive derivatives data and institutional interest, BTC’s bullish outlook appears reinforced for the months leading up to 2025.
