Bitcoin Open Interest Expands After US CPI Announcement... Investor Sentiment Recovering
YM Lee
Summary
- It was reported that the open interest (OI) for Bitcoin on Binance significantly increased after the US CPI announcement.
- After December's core inflation came out lower than expected, the open interest for Bitcoin on Binance rose by 3.30% in just two hours.
- With the recovery of investor sentiment, the open interest for Bitcoin on Binance has reached $12.2 billion.
Following the announcement of the US Consumer Price Index (CPI), the open interest (OI) for Bitcoin (BTC) on Binance has significantly increased.
On the 16th (local time), Cointelegraph reported that CryptoQuant analyst Verakeshmesh stated, "As December's core inflation recorded lower than expected, the open interest for Bitcoin on Binance rose by a whopping 3.30% in just two hours."
Since then, the open interest for Bitcoin on Binance has steadily increased, currently reaching $12.2 billion. As inflation indicators record favorable figures for the market, investor sentiment in risk assets, including virtual assets, is also reviving.
YM Lee
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