$4B Increase In Bitcoin Open Interest Fueled By Whale Transfers To Exchanges – Details

Bitcoin experienced a brief price dip near $115,000 after a period of consolidation below its all-time high. The dip was quickly absorbed by strong buyer demand, indicating persistent bullish momentum. Increased open interest on major exchanges like Binance and Bybit suggests aggressive trader positioning. This rise in open interest, approximately $4 billion, coincided with large Bitcoin transfers to these exchanges. The combination of price recovery and rising open interest signals a shift in market sentiment. Short-term traders are re-entering, and bulls are defending key support levels. Bitcoin's ability to maintain support above $115,000 will determine its next price movement. The current bullish structure remains intact, supported by key moving averages. Ethereum's outperformance and altcoin strength are additional factors impacting the market.