Bitcoin’s Open Interest Surges to $2 Billion in Just 24 Hours: $110K Soon

Bitcoin’s recent price surge isn’t the only story—its open interest (OI) has skyrocketed by $2 billion in the last 24 hours. This dramatic increase shows a rise in trading activity and more investor interest in the leading cryptocurrency. Open interest reflects the number of active contracts in Bitcoin’s futures and options markets. A boost in OI typically signals rising expectations for volatility and more participation. Despite the surge, funding rates remain low, indicating a balanced market sentiment. As Bitcoin trades at around $102,500, traders are waiting for clear direction. A break above resistance could push Bitcoin to $110,000, but a pullback to $87,000 is also a possibility.