Bitcoin open interest (OI) on Binance surged significantly after the release of U.S. Consumer Price Index (CPI) data, which showed core inflation aligned with expectations. Within hours, Bitcoin’s OI jumped by $500 million, reaching a total of $10.96 billion, reflecting increased trader activity and market interest.

Currently, Binance leads with a total Bitcoin OI of $12.20 billion, contributing to a global aggregate of $63.19 billion across major exchanges. This marks a $3 billion rise in just 24 hours, showcasing heightened market engagement following the CPI data.

Bitcoin's price also reacted, climbing from $26,000 to over $26,400, supported by the positive market sentiment. Analysts note that futures market activity, as reflected by rising OI, plays a crucial role in sustaining such bullish momentum.

As traders position themselves, the CPI data appears to have sparked a wave of renewed optimism in the crypto markets. Show Less