Bitcoin and Ethereum open interest surged by over $2 billion each in the last 24 hours, according to data from CryptoQuant. This influx of capital into futures markets has coincided with significant price gains for both assets, which are each up more than 7% over the past week. Analysts attribute the movement to improving macro conditions and a shift in trader positioning, with U.S. investor demand showing signs of re-engagement.
A major surge in open interest for Bitcoin and Ethereum futures contracts has helped propel their prices over the last day. Data shows Bitcoin open interest is at its highest level in over two months, while Ethereum’s is at a three-week high.
Perpetual futures open interest rose by $2.1 billion for BTC and $2.2 billion for ETH, according to CryptoQuant. The firm stated, “This synchronized surge across both major assets reflects macro-event-driven positioning, with traders front-running an anticipated improvement in broader risk sentiment.”
The increase in coin-denominated open interest confirms traders are opening new long positions, not just short liquidations. According to data from CoinGlass, about $182 million in shorts were liquidated in the last 24 hours.
Bitcoin traded at $72,103 and Ethereum at $2,216, reversing weeks of bearish price action driven by macro uncertainty. The Coinbase Premium Index has turned positive for both assets, signaling increased U.S. investor demand.
CryptoQuant noted, “The simultaneous flip to positive for both BTC and ETH suggests broad-based U.S. demand re-engagement.” Despite the gains, both assets remain significantly below their all-time highs established last year.
