The Bitcoin derivatives market is surging, with traders positioning themselves ahead of the market frenzy!

As an important cryptocurrency summit is set to take place, trading activity in the Bitcoin derivatives market has significantly increased. Traders anticipate that major news potentially impacting the market will be announced at this summit, leading to a surge in buying interest.

Market analysts point out that since Bitcoin's price recently touched $82,000, buying pressure has been consistently rising. This may be related to traders re-establishing leveraged positions, which have driven the increase in open interest and rising financing rates.

"Since Bitcoin last tested $82,000, the market's buying interest in this price range seems to be more persistent and robust, which may align with the re-establishment of leveraged positions, thereby pushing open interest and financing rates higher," an analyst stated.

Bullish sentiment in the options market is also strengthening. As traders re-enter leveraged positions, liquidity in the Bitcoin market is recovering, prices are rebounding, open interest is increasing, and financing rates are rising. Volatility is also showing a more bullish trend, with implied volatility in the options market reaching extreme levels—90% for overnight options, 70% for contracts expiring within a week, and 60% for contracts expiring at the end of March.

"It feels like we have witnessed an extreme tide of liquidity withdrawal, and now this tide has returned, bringing new vitality to prices, open interest, and financing, as well as more buying sentiment for volatility," another analyst added.

Sentiment in the futures market has also changed. The financing rate in the perpetual futures market has risen from -0.01 to +0.009, indicating that traders are willing to pay a fee to hold long positions in anticipation of price increases.

"The change in Bitcoin's 24-hour open interest rose from -22,800 to 10,800 within two days," the analyst noted. "Overall, the upcoming summit has heightened market participants' expectations for official announcements, prompting traders to position themselves early."

As prices rebound, the 24-hour open interest change in Bitcoin futures has also turned positive, reflecting the market's optimistic outlook for future trends.