Bitcoin funding rates on margin positions have jumped to their highest in more than two weeks, according to data from cryptocurrency exchanges OKX and dYdX provided by crypto analytics website coinglass.com. Positive funding rates indicate that speculators are optimistic and indicate that long traders are funding short traders.

On the back of the continuous rise of new Bitcoin investors came the recent jump in the price and the subsequent rise in the margin financing rate, which can be gleaned from analyzing trends in the distribution of BTC ownership among portfolios, with the number of wallets with a small BTC balance increasing.
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According to analytics platform Glassnode, the number of Bitcoin wallet addresses with a non-zero balance recently rose to more than 44 million, and this growth has been unsurprisingly driven by a rise in the number of wallets with a small BTC balance. The so-called “plankton” addresses of less than 0.01 BTC have reached levels of over 32.6 million.