Bitcoin Price Surges to Above $85,000, Know the Impact!

Jakarta, Pintu News – Bitcoin BTC->Current BTC PriceRp 0Market Cap-Trading Volume-Circulating Supply- hit another impressive mark above $85,000 on Saturday, April 12, after the President of the United States, Donald Trump, announced a trade tariff exemption for smartphones, computers, and chips. This rise was supported by a surge in open interest, which recorded a significant increase.

Effect of Open Interest Surge on the Market

According to the latest data from the CryptoQuant platform, open interest for Bitcoin (BTC) on Binance, the exchange with the largest trading volume in the world, has increased by 15.8% in the last 24 hours. This represents the addition of approximately $1.2 billion into the derivatives market, increasing the total open interest from $7.6 billion to $8.8 billion.

This spike in open interest signals that Bitcoin (BTC) traders are starting to take new positions in the futures and options markets. Conversely, a decline in this metric usually indicates that investors are starting to leave the derivatives market or their positions are being liquidated.

Also Read: Ripple (XRP) Movement and Potential Correction: What Crypto Investors Need to Watch Out for?

Analysis from Quicktake CryptoQuant

Burak Kesmeci, an analyst at CryptoQuant, emphasized that the rapid increase in open interest indicates the accumulation of leveraged positions in a short period of time. Binance now dominates 31.4% of the market with total futures open interest of around $28 billion.

Kesmeci also added, “Binance doesn’t just reflect market trends – they actively lead them.” This suggests that Binance has an important role to play in the current market dynamics, which could have important implications for investors and traders.

Market Volatility and Potential Liquidation

A significant spike in open interest also signals increased activity and higher market volatility. This can lead to sharp liquidation of both long and short positions. Investors are therefore advised to exercise caution when opening short-term positions.

Kesmeci advises that in these highly volatile market conditions, it is important for investors to consider the risks involved. Increased volatility is often followed by sharp and unexpected price movements, which can be very risky for unprepared traders.

Conclusion

With the current Bitcoin (BTC) price hovering around $85,240, showing a 2.5% increase in the last 24 hours, the market still seems to be in a very dynamic state. Investors and traders are advised to keep a close eye on market developments and be cautious in making investment decisions.

Read More: Pepe Coin (PEPE) Price Movement and Potential Golden Cross: What Does It Mean for the Crypto Market?

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• NewsBTC. Bitcoin Price Climbs to $85,000 as Open Interest Surges. Accessed on April 14, 2025
• Featured Image: Generated by AI