Bitcoin Rises 2.6% on Thin Holiday Liquidity as Deribit Perpetual Funding Surges Over 30% and Traders Bet on Break Above $94,000

COINOTAG News reports that in early trading, Bitcoin (BTC) advanced roughly 2.6% as holiday liquidity remained thin, underscoring a price action distortion typical of limited market activity. Analysts note the move was driven more by immediate spot buying and durable perpetual contracts than by liquidation dynamics, indicating a liquidity-driven uptick rather than a fundamental breakout. Strong risk sentiment supported price action near key levels.

According to QCP Capital analysis, the BTC perpetual funding rate on Deribit climbed above 30%, signaling a short gamma posture among traders in the upside. A sustained hold above the $94,000 threshold could intensify hedging buys, adding a persistent bid in the near term.

On the downside, December $85,000 put options were not rolled over, with open interest falling by about 50% after expiry. The data points to a cautious, wait-and-see stance until liquidity returns and clearer directional signals emerge for BTC.