Yigit Taha OZTURK 
Binance experienced a significant surge in Bitcoin Open Interest (OI) volume after the release of the U.S. Consumer Price Index (CPI) results, which boosted optimism in the crypto markets.
Major Spike in Bitcoin Open Interest
The December U.S. core inflation data, reported below expectations, sparked positive sentiment in risk-on assets, fueling investors’ hopes for potential interest rate cuts in the future.
CryptoQuant analyst Burakkesmeci noted, “This news brought smiles to the faces of crypto investors and painted a favorable macroeconomic picture. As a result, the market experienced a strong rally.”
The Bitcoin Open Interest (OI) on Binance increased by 3.30% within just two hours of the CPI report release, reaching a total of $10.96 billion. As of publication, CoinGlass data shows the figure has risen further to $12.20 billion.
The OI metric tracks the total number of unresolved Bitcoin derivative contracts, including options and futures, and is generally viewed as a sign of increasing market participation.
Bullish Signals Across the Crypto Market
Beyond Binance, the total Bitcoin OI across all major exchanges rose by nearly $3 billion over the last 24 hours, totaling $63.19 billion.
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CPI data impact on Bitcoin price: Following the CPI release, Bitcoin (BTC) surged from $96,000 to over $100,500 before slightly retracing to $99,587 by the time of publication.
Market Sentiment and Fear & Greed Index
The Crypto Fear & Greed Index, a tool measuring sentiment in Bitcoin and the broader crypto market, increased by 5 points, reaching a “Greed” score of 75, further solidifying the bullish sentiment.
Despite Bitcoin’s rally, some analysts are cautious about short-term price fluctuations. Fundstrat Capital’s chief investment officer commented, “Nobody will lose money buying at $90,000. However, if they’re lucky and it drops to $70,000, that might be an even better opportunity.”
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