Bitcoin Reaches Eight-Month High Amid ETF Inflows and Improved Risk Sentiment
Bitcoin reached $86,000 on Monday, an eight-month high driven by a short squeeze, strong ETF inflows, and improved risk sentiment ahead of the U.S.-China summit. Blockchain analytics firm Glassnode noted that while long leverage is slowly rebuilding in the options market, it has not yet reached levels typically seen at market tops. Glassnode's analysis shows diverging trends between the options and perpetual futures markets: bullish exposure is increasing gradually in the former with a put/call ratio near 0.6, but funding rates remain calm in the latter, indicating less aggressive leveraged positioning. Analysts suggest that Bitcoin’s current rally appears more driven by spot demand than speculative leverage. Bitcoin remains about 32% below its all-time high of $126,000 and is currently trading at around $86,489 as of the time of writing.
Topics: Bitcoin Derivatives Market Analysis Onchain Data Price Rally