Bitcoin Price Climbs Above $85,000 As Open Interest Surges 16% In Past Day

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Bitcoin Price Climbs Above $85,000 As Open Interest Surges 16% In Past Day - NewsBTC

Quick Summary:

Data from CryptoQuant shows that Bitcoin’s open interest on Binance has increased by a strong 15.8% in the past 24 hours.This surge saw about $1.2 billion flow into derivatives in a single day, growing the OI on the world’s largest exchange from $7.6 billion to $8.8 billion. Kesmeci highlighted that this rapid rise in Bitcoin’s open interest suggests a substantial build-up of leverage positions within a short period.

How The Latest Spike In Open Interest Could Affect The Market In a Quicktake post on the CryptoQuant platform, analyst Burak Kesmeci revealed that the Bitcoin open interest has seen a notable upswing in the past 24 hours on the world’s largest exchange by trading volume, Binance.

Kesmeci added: Binance isn’t just reflecting the market trend — it’s actively leading it. The analyst also revealed that such a significant spike in open interest signals heightened activity and increased market volatility, which could lead to sharp liquidations of both long and short positions.