Bitcoin Price Surges 20% on Futures Market Demand

Bitcoin's price has surged more than 20% in three days as demand returns to both spot and futures markets. The increase in value is reflected in the open interest, which has risen by $2.5 billion. Notably, Binance accounts for 37% of total market open interest, with a significant portion of this ($1.5 billion) attributed to its futures activity.

The seven-hour moving average of net futures positions on Binance saw a sharp rise, indicating increased demand in the futures market. This development has contributed to Bitcoin's price increase, which now stands at $77,319.