Bitcoin Price Climbs Above $85,000 As Open Interest Surges 16% In Past Day
Bitcoin reclaimed the $85,000 level on April 12, driven by bullish momentum following President Trump's exemption of certain tech products from new trade tariffs. Bitcoin's open interest (OI) surged by 15.8% in 24 hours on Binance, increasing from $7.6 billion to $8.8 billion, indicating a significant influx of capital into BTC derivatives. This rise suggests traders are taking new positions in the futures and options market, which typically correlates with increased market activity and volatility. Analysts warn that such spikes in open interest can lead to sharp liquidations of positions, advising caution for investors. As of the latest data, Bitcoin's price is approximately $85,240, reflecting a 2.5% increase in the past day and over 2% for the week.
