Bitcoin Open Interest Jumps 9% as Tariff Concerns Thin Out

Coinspeaker
Bitcoin Open Interest Jumps 9% as Tariff Concerns Thin Out

Current market data shows a rally in the price of Bitcoin (BTC), driven by growing optimism surrounding a potential U.S.-China trade agreement. This sentiment was further supported by a softening stance from the Trump administration on tariffs.

With the price increase, open interest in Bitcoin perpetual futures rose by 9%, indicating strong investor confidence in the broader digital asset market.

Bitcoin Futures Activity Spikes New Anticipation

According to data from Coinglass, total open interest in Bitcoin futures across major exchanges rose to 715,710 BTC, valued at $66.98 billion. This marked an 8.54% increase, while notional open interest in BTC perpetual futures climbed 10% to $17.83 billion. This was the largest single-day jump since March 2.

CME held the largest share, with 144,950 BTC, worth $13.55 billion. Binance followed with 119,480 BTC, worth $11.18 billion, and OKX held 44,530 BTC, totaling $4.17 billion. Crypto exchange Gate.io posted the most significant 24-hour rise in open interest, up by $8.27 billion to 88,490 BTC.

However, Bitunix experienced an unexpected 2.40% drop, falling to 46,830 BTC. It is important to add that the trading environment remained highly active, with 24-hour volume reaching $328.18 billion. It is worth noting that funding rates turned positive, ranging between 5% and 10% annualized for both Bitcoin and Ethereum.

Bitcoin and other altcoins are rallying due to the U.S.-based spot BTC exchange-traded funds (ETFs) recording a net inflow of $936.4 million on April 22. This inflow, led by Ark 21Shares ARKB with $267.1 million, marked the seventh-largest single-day inflow into Bitcoin-based investment products.

Tariff Rollback Promises Fuel Market Momentum

It is worth mentioning that the rally was sparked by comments from the U.S. Treasury Secretary Scott Bessent, who signaled progress in reducing trade tensions with China.

President Donald Trump later confirmed that tariffs on Chinese imports would be significantly lower than the previously imposed 245%. He also announced that Federal Reserve Chair Jerome Powell would not be replaced, stabilizing monetary policy expectations.

The rise in Bitcoin open interest is fueling excitement across the global crypto market, especially as Bitcoin has now overtaken silver and Amazon in global asset rankings.

At the time of this report, Bitcoin is the sixth most valuable asset globally. CoinMarketCap data shows that the cryptocurrency reached a price of $93,740.88, a 5.83% increase in the past 24 hours. This increase has pushed its market capitalization to $1.86 trillion.

Notably, the market has responded positively to these developments, with Bitcoin’s trading volume rising by $59.4 billion, representing an increase of 61.18%

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Bitcoin Open Interest Jumps 9% as Tariff Concerns Thin Out