So, Bitcoin‘s up, huh? Like, REALLY up. $85,000? Seriously? What is this, a joke? 🤪 I mean, good for Bitcoin, I guess. This weekend, it decided to get all “bubbly and impressive,” or whatever they’re calling it. All because Trump decided phones and chips aren’t so bad after all. Figures.
And the open interest? Oh, that’s going up too. Apparently, that means something. 🤔 Some on-chain data voodoo magic says Bitcoin’s gearing up for a run. An “extended upward run.” Like it’s running a marathon or something. Who comes up with these phrases? It’s ridiculous.
So, This Open Interest Thing… Should I Care?
Okay, so this guy, Burak Kesmeci, from CryptoQuant (sounds legit), says open interest is up on Binance. Binance, the world’s largest exchange. By trading volume. Obviously. 🙄 Open interest is apparently the total amount of capital flowing into BTC derivatives. Derivatives! Sounds complicated. Probably is.
Basically, when open interest goes up, people are making bets. When it goes down, they’re either losing those bets or running away. Smart people. 🏃♂️
CryptoQuant (again, with the names) says Bitcoin’s open interest on Binance is up almost 16%. That’s, like, a lot, right? $1.2 billion flowed in. In one day! People are just throwing money at this thing. It’s insane. From $7.6 billion to $8.8 billion. What am I even doing with my life? 🤦♂️
Kesmeci (still with this guy) says this means people are leveraging themselves. Lots of risk. He also says Binance is “leading” the market. As if Binance isn’t just trying to make money. Of course they’re leading it! 🙄
Kesmeci also said, and I quote, “Binance isn’t just reflecting the market trend — it’s actively leading it.” Groundbreaking analysis, Burak. Absolutely groundbreaking.
So, yeah, big spike. Volatility. Liquidations. Fun times ahead. 🎉 Maybe exercise caution? Or don’t. What do I know? I’m just a guy complaining about Bitcoin prices.
Bitcoin Price: The Nitty-Gritty
Right now, BTC is around $85,240. Up 2.5% in the last 24 hours. CoinGecko (another one) says it’s up 2% this week. So, basically, it’s up. But who knows for how long? 🤷♂️
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2025-04-13 22:35