The price Bitcoin (BTC) has jumped 2% to $ 87,800 since Midnight UTC. The increase has been accompanied by an uptick in future open interest in Binance that validated the lively market mood to signal sustainable gains.
The open interest in BTC-USDT futures listed on the stock exchange has increased by approx. 7,000 BTC ($ 614.6 million) since the early Asian trading times, according to data traced by Coinglass and Velo Data. Open interest refers to the number of active or open contracts at a given time.
In addition, Binance’s financing rates have kept positively proposing a bias for geared bullish (long) bets.
“This is a good sign, volatility comes,” Coinglass said, referring to the remarkable increase in open interest.
