A rise in open interest alongside a price increase is often viewed as a confirmation of bullish momentum.

Bitcoin (BTC) has surged 2% since midnight UTC, reaching $87,800. This price movement has been accompanied by a notable increase in futures open interest on Binance, strengthening the case for continued market optimism.

Data from Coinglass and Velo Data show that BTC-USDT futures open interest on Binance has expanded by approximately 7,000 BTC, adding $614.6 million in value since early Asian trading hours. Open interest reflects the number of active futures contracts currently in the market.

Additionally, Binance’s funding rates have remained positive, signaling that traders continue to favor leveraged long positions.

“This significant rise in open interest points to incoming volatility,” Coinglass remarked, emphasizing the potential for increased market activity.