Bitcoin’s open interest has surged 9% to 715.71K BTC, reflecting growing investor confidence amid positive U.S.-China trade sentiments. Prices increased to nearly $94,000. Significant inflows into Bitcoin ETFs and comments from U.S. officials also contributed to this bullish market trend. Bitcoin has been boosted to the sixth valuable asset globally, showcasing a robust increase in trading volumes.
Recent market trends indicate a significant increase in Bitcoin’s open interest, which surged by 9% to 715.71K BTC, equating to approximately $66.98 billion in value. This surge accompanies a notable price rise of 5.83%, bringing Bitcoin close to $94,000, spurred by improved U.S.-China trade relations and a softening tariff stance from the Trump administration. The positive sentiment is reflected by shifting funding rates, now showing bullish tendencies.
Bitcoin futures open interest data from Coinglass reveals that activity across major exchanges has soared, with total open interest touching 715,710 BTC. Notably, the notional open interest for perpetual futures also increased by 10% to $17.83 billion, marking the largest daily increase since March 2, signalling robust investor confidence in the digital asset market. CME, Binance, and OKX hold significant portions of this open interest.
CME leads with 144,950 BTC (worth $13.55 billion), followed by Binance with 119,480 BTC ($11.18 billion). Meanwhile, Gate.io noted the largest 24-hour spike, adding $8.27 billion to its open interest, while Bitunix faced a contrasting 2.40% drop to 46,830 BTC. The market remained active, achieving a 24-hour trading volume of $328.18 billion, with annualized funding rates for Bitcoin and Ethereum fluctuating between 5% and 10%.
The market’s upward momentum is also attributed to substantial inflows into U.S.-based Bitcoin spot ETFs, which reported a net inflow of $936.4 million. This inflow includes $267.1 million from Ark 21Shares ARKB, contributing to one of the largest single-day inflows into Bitcoin investment products.
Market excitement has been further amplified by comments from U.S. Treasury Secretary Scott Bessent regarding easing trade tensions with China. Following this, President Trump announced lower tariffs on Chinese imports and reassured that Jerome Powell would remain as Federal Reserve Chair, helping stabilise market expectations.
As of this report, Bitcoin stands as the sixth most valuable global asset, with prices reported at $93,740.88 and a market cap of $1.86 trillion. The overall trading volume surged by $59.4 billion, illustrating a 61.18% increase, highlighting a positive market response to the latest developments.
