BTC’s public interest in Binance has increased by $2.2 billion over the past 20 days, according to data shared today by Crypto analyst Amcrypto Alex. This means that the growing number of derivative traders is placing themselves for further uptrends. It also suggests leverage is developing in the Bitcoin market, which could increase future price fluctuations.
#Binance Open Interes surges $2.2 billion over 20 days
Big players are betting on #Bitcoin’s bullish momentum to continue this futures boom. pic.twitter.com/ptjzlyzgdt
– Amcrypto (@amcryptoalex) May 1, 2025
Bitcoin bullish outlook
After weeks of unstable performance, Bitcoin is showing strong rebound metrics. It could rise from its previous lows, resulting in a positive change in sentiment in the broader digital asset market. BTC has been performing an incredible upward movement, with a 3.1% increase over the past seven days.
One of the key catalysts that contribute to this rebound is an increase in open interest (OI) measuring the full amount of unresolved future contracts. Over the past 20 days, this major on-chain indicator has experienced an impressive $2.2 billion rise, and is now at 12 billion. This surge in OI shows that traders are increasingly involved in the Bitcoin bullish movement, potentially suggesting future price increases.
As OI increases, market sentiment becomes more enthusiastic. Specifically, the positive funding rate, which measures the cost of holding a long contract and long contract, indicates that long positions are beyond the shorts. This shift suggests that traders are placing long premiums in hopes of continuing promotions in BTC. However, this increase in leverage in the Bitcoin market could potentially increase both returns and losses in the short term.
The indicator shows potential movement to k
Technical metrics show that Bitcoin can continue to move up for the next few days, and the trading charts provide important insight into the current market situation. BTC is currently trading on an upward pattern, further increasing the ongoing upward trend.
Ascending patterns usually show a continuation of a surge, making investors more enthusiastic. With increased purchasing activity and improved market conditions, some traders are confident that BTC could violate the next area of resistance, at $95,577 and $96,514.
