Binance BTC open interest jumps $500M hours after ‘favorable’ US inflation data
Binance experienced a notable increase in Bitcoin Open Interest (OI) following the release of the US Consumer Price Index, which indicated lower-than-expected core inflation for December. Within two hours of the report, Bitcoin OI on Binance rose by 3.30% to $10.96 billion, reflecting heightened market participation. As of publication, Binance's Bitcoin OI reached $12.20 billion, contributing to a total of $63.19 billion across major exchanges, marking a nearly $3 billion increase in 24 hours. Bitcoin's price surged from approximately $96,000 to over $100,500 before settling at $99,587. The Crypto Fear & Greed Index also rose to a "Greed" score of 75, indicating improved market sentiment. Analysts suggest current price levels present solid buying opportunities despite some caution regarding short-term price movements.
