Bitcoin Open Interest Soars $2.3 Billion Ahead of Jobs Report

Bullish bitcoin bets are building as open interest has surged by $2.3 billion since September 30, according to CoinGlass data.

This increase in open interest indicates that traders are adding exposure, but it does not reveal whether they are betting on prices rising or falling.

The perpetual funding rate has also risen from around 3% to 10%, suggesting stronger demand for bullish exposure and a more expensive market for holding long positions.