Bitcoin derivatives activity accelerated on October 2 ahead of the U.S. September jobs report, with CoinGlass showing open interest near $56.7 billion as BTC traded above $86,000. Since September 30, outstanding positions have increased by roughly 27,000 BTC, or about $2.3 billion, while rising leverage shows traders are adding exposure before a major macroeconomic catalyst.
Perpetual funding rates also climbed as Bitcoin advanced from around $83,500 toward $86,500, indicating that traders were paying more to maintain leveraged long positions. For readers seeking background on the asset, this guide explains its fundamentals, while higher funding rates make bullish positioning more expensive and can increase liquidation risk if prices reverse sharply.
The immediate focus is Friday’s U.S. jobs report, which could reshape expectations for Federal Reserve policy and trigger volatility across risk assets. Open interest and funding rates will be the key derivatives metrics to watch after the release, as a continued rise would show leverage building further while a sharp decline could signal traders are closing positions.
Source: CoinGlass.
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