Mmastodon BusinessCrypto first seen 12 h ago, last 11 h ago, peak #3
Bitcoin open interest jumps $2.3 billion on bullish bets
Original: Bitcoin open interest surges $2.3 billion as traders pay up for bullish bets Rising open interest and funding rates sign
Bitcoin's open interest rose by $2.3 billion, with traders paying higher funding rates to hold leveraged long positions. Rising open interest alongside positive funding signals renewed demand for bullish bitcoin exposure heading into the U.S. jobs report, a data release that often moves crypto markets. Analysts note the build-up suggests traders are positioning for upward price movement, though leveraged bets also raise the risk of sharp swings if the jobs data surprises.
Why now: Traders are positioning ahead of the U.S. jobs report, a key market-moving event.
Evidence
API: https://socialmediatrends-api.osmike.com/v1/trends/849576