Binance Sees $600M Spike in Bitcoin Futures Bets, Signaling Potential Market Swings

A surge in open interest alongside rising prices often signals a strengthening uptrend in the market.

Bitcoin (BTC) has gained 2% since midnight UTC, reaching $87,800. This price increase has been accompanied by a rise in futures open interest on Binance, reinforcing bullish market sentiment and hinting at sustained momentum.

According to data from Coinglass and Velo Data, open interest in BTC-USDT futures on Binance has grown by approximately 7,000 BTC—equivalent to $614.6 million—since early Asian trading hours. Open interest represents the total number of active contracts in the futures market at any given time.

Moreover, funding rates on Binance have remained positive, indicating a prevailing preference for leveraged long positions among traders.

“This is an encouraging indicator—volatility is on the horizon,” Coinglass stated, highlighting the substantial increase in open interest.