#BinanceAlphaAlert Binance BTC open interest jumps $500M hours after ‘favorable’ US inflation data
Bitcoin Open Interest (OI) on Binance surged following the release of the U.S. Consumer Price Index (CPI) report, which indicated lower-than-expected core inflation in December. The positive macroeconomic outlook boosted hopes for further rate cuts in 2025, igniting optimism in crypto markets.
Bitcoin OI spikes after CPI data
According to CryptoQuant analyst Burakkesmeci, Binance’s Bitcoin OI rose by 3.30% within two hours of the CPI report, reaching $10.96 billion. By publication, OI had climbed further to $12.20 billion, as reported by CoinGlass. The global Bitcoin OI across major exchanges hit $63.19 billion, marking a $3 billion increase in 24 hours.
Rising Bitcoin OI reflects growing interest in the asset, signaling bullish market sentiment. Following the CPI release, Bitcoin’s price jumped from $96,000 to over $100,500 before settling at $99,587, according to CoinMarketCap data.
Crypto market sentiment improves
The Crypto Fear & Greed Index, which gauges market sentiment, increased by 5 points to a “Greed” score of 75, reflecting the market’s optimistic outlook. Burakkesmeci emphasized the importance of futures market support for sustained bull runs in spot trading.
Despite Bitcoin’s recent rally, some analysts remain cautious. Fundstrat Capital’s chief investment officer remarked on Jan. 14 that $90,000 remains a solid buying level, although prices could temporarily dip to $70,000.