Recently, there have been significant mobility in the Bitcoin (BTC) market. The price of the crypto currency increased by 2 %from the half of the day to $ 87,800. This price rise was in parallel with the increase in open positions in Bitcoin futures traded on large stock exchanges such as Binance. This optimistic air on the market points out that investors’ confidence in Bitcoin has increased and a positive trend has begun in the crypto money market.

What do Bitcoin open positions point?

Bitcoin (BTC), has recorded a significant price increase in the last 24 hours. Bitcoin, which has risen by 2 %since the half of the day, rose to $ 87,800. In addition to this increase, it was observed that the open positions in Bitcoin futures traded on the Binance Exchange have increased significantly. This shows that positive air and investor confidence in the market has increased. In particular, the signals that this rise in the price of Bitcoin may be sustainable reinforce increased open position data.

According to the data provided by Coings and Velo Data, open positions in BTC-USDT futures in Binance increased approximately 7,000 BTC (approximately 614.6 million dollars) since the beginning of the trade hours of the Asian region. Open positions express the total number of contracts that are open in a financial vehicle and continue to be traded. This increase shows that there is a major trade volume in the market and that investors continue to trace with positive expectations of future price movements.

Funding rates in Binance increased

In parallel with the increase in the price of Bitcoin, the funding rates on the Binance exchange continue to remain positive. This shows that investors tend to take more leveled long (Bullish/Taurus) position, and increase these positions indicate more rise potential. In addition, increasing open positions are thought to be a harbinger of a mobility that will trigger volatility in the market.

Coings described the remarkable increase in open positions as a “good sign, and that this means that volatility may increase in the coming days and price movements can gain more momentum. While investors wonder whether this rise of Bitcoin price will continue, the general atmosphere of the market has optimistic expectations that sustainable gains may be possible.

As a result, this rise in the price of Bitcoin and the open position increase, confidence between market participants has increased and larger price fluctuations in the future. Investors expect more processes and volatility in the market, thinking that Bitcoin can maintain this strong rise.