The price of Bitcoin (BTC) has increased 2% to $ 87,800 from UTC midnight. The increase has been accompanied by an increase in the future open interest in Binance, validating the mood of the buoyant market to indicate sustainable profits.
The open interest in the future BTC-UDT that appears in the exchange has increased by approximately 7,000 BTC ($ 614.6 million) from the first hours of Asian negotiation, according to data tracked by Coinglass and Velo Data. Open interest refers to the number of active or open contracts at a given time.
In addition, Binance financing rates have remained positive to suggest bias for bullish (long) bullshit bets.
“This is a good sign, volatility is approaching,” said Coinglass, referring to the remarkable increase in open interest.
