Bitcoin Price Update

The bitcoin (BTC) price has jumped 2% to $87,800 since midnight UTC. This increase has been accompanied by rising future open interest on Binance, validating the market’s buoyant mood for sustainable gains.

Future Open Interest

The open interest in BTC-USDT futures on the exchange has increased by roughly 7,000 BTC (approximately $614.6 million) since early Asian trading hours, according to data tracked by Coinglass and Velo Data. Open interest refers to the number of active contracts at a given time.

Market Sentiment

Moreover, funding rates on Binance have remained positive, suggesting a bias for leveraged bullish (long) bets.

> “This is a good sign, volatility is coming,” said Coinglass, commenting on the increase in open interest.

(Velo Data, TradingView)