As Bitcoin’s recovery rally (BTC) and Ether (Ethher (ETH) gathered the impulse on Tuesday, the perpetual future market saw an even more pronounced increase in open interest, pointing out the growing confidence of investors as the Trump administration marked its commercial and anti-food rhetoric.
BTC, the leading cryptocurrency for market value, increased by 6.79% almost $ 94,000 for the first time since March, as shown in Coindesk data. That is the percentage gain of a single more significant day since April 9. Ether Ethereum Blockchain Ether increased 11% to $ 1,1175, it is the best yield since April 2.
The demonstration occurred when the United States Secretary of the Treasury, Scott Besent, discussed the decalciation of commercial tensions between the United States and China, followed by President Donald Trump saying that tariffs on Chinese products will fall substantially from the current 245%. Trump also said he does not intend to say goodbye to the president of the Federal Reserve, Jerome Powell.
The increase in prices was characterized by merchants who deployed money for the trade of perpetual futures in the main exchanges in the high seas as demonstrated by greater increases in open interest in Binance, Bybit, OKX and Deribit and leading the decentralized hyperliquid of lifeny change in the chain.
The cumulative notional open interest, or the dollar value of the number of active bets in perpetual future BTC, increased 10% to $ 17.83 billion, according to the veil data source. That is the greatest one -day increase since March 2, when Trump mentioned XRP, ADA and Sol as potential candidates for a strategic reserve of digital assets that Bitcoin and Ether would maintain as the nucleus. Later, the administration said that Bitcoin would maintain seized in compliance actions as a reserve.
“Bitcoin’s open interest increased faster than its price, with most of the positions originated in Binance,” said Joao Wedson, CEO of Alphractal Research, in X. “The problem is that a large portion consists of lengths, so greater volatility is expected in the next few hours.”
The increase in prices was probably helped by a short or unrolled budget of the bets of short perpetual futures. Financing rates were negative approximately 24 hours ago, which implies a bias for shorts.
Ether’s notional open interest increased almost 16% to $ 6.60 billion, the largest increase of a single day since November 27.
It is said that an increase in open interest together with a price increase confirms the bullish impulse. In other words, BTC and ETH could continue to increase.
Bullish financing rates
The bias for long bullish positions is also evident from the moderately positive annualized perpetual financing rates, which vary between 5% and 10% annualized for BTC and ETH.
Financing rates, charged every eight hours, are payments exchanged between merchants who have long and short positions in perpetual future. They are designed to ensure that the contract price remains close to the spot price of the underlying asset.
A positive financing rate implies that merchants are more inclined and willing to pay rates to occupy long positions. As such, it is considered a sign of bullish feeling. However, excessively high financing rates may indicate overcrowding or bullish speculative fervor, but that is not the case at this time.
