**Crypto Market Update: Perpetual Futures Insights**

Binance, Bybit, and OKX dominate the perpetual swap markets, holding 84% of the total open interest. These markets are crucial for digital asset trading, often surpassing spot markets in volume.

A new model tracks leverage sensitivity and open interest in futures markets relative to Bitcoin's spot price. Recent data shows open interest rising to 260k-280k BTC, indicating increased speculation since June.

Bitcoin's price surge has brought relief to Short-Term Holders, with over 75% of their supply now in profit. This positive trend boosts overall investor sentiment. 📈

Stay informed with Glassnode's on-chain metrics and dashboards. 💡