Bullish bitcoin (BTC) bets build as open interest jumps by $2.3 billion
Summary
Bitcoin rose from about $83,500 to $86,500 as futures and perpetual-contract open interest increased 4.3% to roughly 653,000 BTC ($56.2 billion), according to CoinGlass. Positive funding rates climbed from around 3% to 10%, indicating stronger demand for bullish exposure ahead of Friday’s U.S. jobs report. The rise in activity comes from a low base, and elevated funding makes leveraged long positions more costly and vulnerable to a reversal. Crypto-linked stocks also gained in premarket trading.
