Over the span of three days, Bitcoin posted a performance of more than 20%, driven by a sudden return of demand, both in spot and futures.

During this period, BTC open interest jumped by $2.5B, including $1.5B on Binance alone, which now accounts for 37% of total market open interest.

On the platform, the return of investors to BTC futures accelerated sharply within just a few hours.

The 7-hour moving average (7 hma) of net taker volume on Binance reached its highest level since 2024.

As BTC managed to break through the $65,000 resistance, more than $246 million in net buying pressure flooded into Binance within a matter of hours, the strongest and most spontaneous surge of buying pressure on Binance futures seen in two years.

Between the return of spot demand, buying pressure on futures, and the cascade of short liquidations caught wrong-footed, this combination quickly pushed Bitcoin higher.

Written by Darkfost