Bitcoin Futures Open Interest Surges Nearly 10% as BTC Eyes $110K

Key Points

1. Open interest in bitcoin perpetual futures surged by nearly 10% to $26.91 billion, the highest single-day increase since March 2.

2. BTC's price rose over 3.5% to $109,600, influenced by a disappointing U.S. ADP jobs report, Trump's trade deal with Vietnam, and the launch of the REX-Osprey Solana + Staking ETF (SSK).

3. Perpetual funding rates for BTC and ETH rose slightly from an annualized 5% to over 7%, indicating renewed demand for leveraged bullish plays.

4. The price rally led to $300 million in liquidations, with 107,604 traders liquidated in the past 24 hours, including a single order worth over $2.32 million on Hyperliquid.