Two Indicators Turn Bullish for Bitcoin

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Analyst Amr Taha says rising open interest alongside price gains often signals fresh liquidity entering derivatives markets.

Bitcoin (BTC) jumped from $68,000 to roughly $74,000 on March 4 to reach a new monthly high, as two distinct datasets flashed bullish signals nearly simultaneously.

On-chain data shows a sharp spike in Binance futures open interest delta coinciding with the price breakout, while U.S. spot Bitcoin ETFs have added approximately 23,600 BTC to their holdings since February 25, pointing toward fresh institutional demand entering the market.

Derivatives Activity and ETF Inflows Increase
Market analyst Amr Taha wrote in a March 5 update that Bitcoin futures open interest expanded substantially on March 4, with Binance alone adding about $430 million in new positions. Other exchanges also posted sizeable increases, including Gate.io with roughly $189 million and Bybit with about $166 million.

The increase happened as Bitcoin flew to $74,000 to hit a new monthly peak. According to Taha, the overall rise in open interest across exchanges exceeded the peak recorded in January, pointing to the strongest derivatives expansion in nearly two months.


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