Core Insights - Bitcoin traders are showing renewed optimism in the perpetual futures market, with increasing open interest and funding rates indicating a strong bias towards long positions [1][2][3] Group 1: Market Activity - Open interest in Bitcoin perpetual futures has risen from $42.8 billion to $43.6 billion, reflecting renewed capital inflows despite recent volatility [2] - Annualized funding rates on platforms like Deribit have surged to 13%, indicating that long position holders are willing to pay fees to maintain their positions [3] - Hyperliquid's long bias has increased to 57%, up from 36% the previous week, demonstrating growing investor confidence [3] Group 2: Price Movements - Bitcoin's price experienced a decline in the first four days of the previous week, with a significant drop below $109,000 on Thursday, leading to over $700 million in liquidations of leveraged long positions [4] - Following the sell-off, Bitcoin's price has recovered to approximately $114,000, suggesting that investor confidence remains intact despite the volatility [4]