Binance BTC Open Interest Soars After US Inflation Data
Binance saw a massive $500M surge in Bitcoin Open Interest (OI) just hours after the release of favorable US inflation data. The report, showing lower-than-expected core inflation for December, spurred optimism among crypto investors and fueled a rally in Bitcoin. Within two hours, Binance's OI jumped 3.3%, reaching $10.96 billion. This spike signals increased market interest and a bullish outlook, with Bitcoin’s price rising past $100,000 before stabilizing. Overall, the crypto market's sentiment has shifted toward "Greed," as optimism grows for further rate cuts in 2025.