Binance BTC open interest tops $10B, highest in 6 months

Binance’s Bitcoin open interest surged near the $82,000 level, pushing above $10 billion for the highest level in six months, according to a CryptoQuant analysis by contributor Darkfost. Darkfost said open interest rose about 8% over the past 24 hours, with Binance’s share of total BTC open interest climbing above 37%. Darkfost said the increase appeared to reflect both a rise in the U.S. dollar value of existing positions as BTC gained and fresh inflows of speculative capital. Darkfost added that while speculative demand in the futures market can support short-term price gains, the uptrend would need buying from spot investors to continue, and current spot demand remains insufficient.